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The Business Side of Bitcoin

The Business Side of Bitcoin. Martin Carlsson www.DanskBitcoinforening.dk www.Bitcoin-Expert.net. Outline. Capabilities Semi-technical overview Bitcoin and Business Questions? Fire at will!. Capabilities. Bitcoin allow the transfer of value, without the use of a 3th party intermediary

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The Business Side of Bitcoin

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  1. The Business Side of Bitcoin Martin Carlssonwww.DanskBitcoinforening.dkwww.Bitcoin-Expert.net

  2. Outline • Capabilities • Semi-technical overview • Bitcoin and Business • Questions? Fire at will!

  3. Capabilities • Bitcoin allow the transfer of value, without the use of a 3th party intermediary • Very low transaction fees • Free accounts • Fast validation • No withdrawal • Every transaction is public • A financial system with an API’

  4. Buying Bitcoin

  5. Using Bitcoin

  6. Accepting Bitcoin

  7. Semi-technical overview • The core concept of Bitcoin is when a person transfers money, he tells everybody at the same time. • Therefore, he can not transfer the same Bitcoin several times.

  8. Storage of Bitcoin

  9. Transaction

  10. The Bitcoin network

  11. A new type of business • How to sell a product for 4 DKK on the Internet today • VAT: 20% • PayPal fee: 4,9% + 2,60 DKK

  12. A new type of business • And now with Bitcoin • VAT: 25% • Bitcoin fees: probably zero • Difference: 3,79 DKK • Percent: 43% cheaper to use Bitcoin

  13. Remittance • Au Pair: Sara → 1.000DKK → To family in The Philippines • With a bankaccount • International bank transfer = 50-200DKK | 2-4 days • No bankaccount • Western Union: 100 -180DKK | 5 minutes • Bitcoin • 0,00 to 0,25DKK | 0-2seconds

  14. Overstock ”it saves us about 2% from interchange fees. It's no secret that our net margin is about 2% now. And so the savings would be a very substantial improvement to our bottom line”

  15. The story of Napster

  16. Bitcoin as a technology is here to stay: • Everyone has access to a bank account • The financial sector will require far fewer workers • Anyone can create solutions dealing with money • Much much lower fees

  17. What are your questions?

  18. Best Bitcoin resources • Download these slides atBitcoin-Expert.net/mobeyforum • Easy to understand technical overview of Bitcoingoo.gl/CIcNtu • Amazing films about the use of Bitcoinbitcoinfilm.org • Where I buy bitcoinsbitstamp.net • Local Bitcoin groupsbitcoin.org/en/community

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