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Afghanistan’s first ever bitcoin meetup

Afghanistan’s first ever bitcoin meetup. Camp Leatherneck Helmand Province, Afghanistan July 22, 2013 Adam Locklin & Rob Viglione. Introduction. Welcome to the first ever Bitcoin meetup in Afghanistan You are part of making history! Who we are What is this Bitcoin thing?

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Afghanistan’s first ever bitcoin meetup

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  1. Afghanistan’s first ever bitcoinmeetup Camp Leatherneck Helmand Province, Afghanistan July 22, 2013 Adam Locklin & Rob Viglione

  2. Introduction • Welcome to the first ever Bitcoinmeetup in Afghanistan • You are part of making history! • Who we are • What is this Bitcoin thing? • How you can get some • What’s the big deal? • Privacy and the network • Challenges to the community

  3. Bitcoinissues.org • We are creating a non-profit organization to bring Bitcoin to the developing world • Member of the Bitcoin Foundation • So far we have a blog and some dreams: • Spread the Bitcoin message throughout the Third World • Network with entrepreneurs in these markets, and facilitate technology transfer from Silicon Valley and other tech hubs • Identify and broadcast the most challenging issues faced in bringing Bitcoin to the least developed areas of the world • Open source collaboration is one of the most powerful tools

  4. What Is This Bitcoin Thing? • Bitcoin (BTC) is a fully decentralized, peer-to-peer virtual currency • No one is in charge of all BTC • It is a unit of measure that has long term fixed supply, so it cannot be diluted • All transactions are visible to what is called the “blockchain” • Owner of each transaction is not public info • Exchanging money has never been easier • http://bitcoin.org

  5. What Backs Bitcoin? • The same thing that backs gold • Faith in the rules of the system not being violated • Essentially, that there will be no counterfeiting / debasement • Blockchain ledger • Open transaction ledger • Ensures all transactions are legitimate • Advanced cryptography (SHA-256) • Economic rules that make sense • You are not better off saving currency that constantly debased • Massive computing power boosts the network • No central authority to change the rules

  6. Fixed Supply Currency

  7. How To Get Some • You need a bitcoin wallet • Bitcoin-qt, CoinBase, StrongCoin • Buying bitcoin • Bitcoin exchanges: CoinBase, MtGox • Bitcoin ATM’s • Trade your paper  localbitcoin.com • Earn bitcoin through trade • Sell goods or services • “Mine” bitcoin • Add computing power to the blockchain network and you can earn a portion of newly created BTC • This is not inflation! There are 21.5m BTC planned, only 11.5m exist

  8. Why Business Should Use BTC • The credit card process: 3%-5% fees, delayed receipt • The bitcoin process: no fees, funds received in seconds Put Bitcoin Address on your Website Done!

  9. Privacy Isn’t Just For Criminals • In a world increasingly devoid of privacy, BTC offers a welcome alternative • Bitcoin traffic is unencrypted • Transactions are public • Your wallets and identity are protected by private key • Wallets can be ridiculously encrypted • It is possible to correlate BTC addresses with identities • Most exchanges and online wallets require proof of ID • Eavesdropping at ISP’s • Those who want privacy have some options • TOR proxy, laundering services, cash purchases

  10. Challenges To The Community • No central voice for the community • The Bitcoin Foundation, http://bitcoin.org, Silicon Valley lobbyists • Technical challenges scaling up if adoption widespread • Price instability poses challenge to businesses • Legal uncertainties • US government is so far the most restrictive • Criminals and security

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