1 / 8

Bitcoin The Future of Currency

Bitcoin The Future of Currency. “There is no way to value Bitcoin, which means there is nothing constraining its price other than supply and demand.” Blodget, Henry. By: Bernardo Lopez Dr. Carl Rebman ITMG 100 Nov. 12, 2013. Introduction. What is money?  Medium of exchange

jillian-bauer
Download Presentation

Bitcoin The Future of Currency

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. BitcoinThe Future of Currency “There is no way to value Bitcoin, which means there is nothing constraining its price other than supply and demand.” Blodget, Henry By: Bernardo Lopez Dr. Carl Rebman ITMG 100 Nov. 12, 2013

  2. Introduction • What is money?  Medium of exchange • Nobody invented money, it was a result of human interaction • What is Bitcoin?  fungible unit of value backed by computer processing power. • Digital currency

  3. Timeline

  4. Information • Decentralized system, power is spread among all users (no central authority or third-parties) • Regulated by peer-to-peer • Finite number of coins = eliminate inflation (no “magic”)

  5. Price History

  6. Miners • Workforce  Paid with Bitcoins • Bundle up transactions = ‘blocks’ &’block chains’ • Cryptography ensures and secures transactions • All participants know the history of all transactions in the network

  7. Bibliography Hobbs, Darren. "Explain like I’m five: Bitcoin." Darren Hobbs, Shamelessky self- promoting since 202. Wordpress, 09 Apr 2013. Web. 8 Nov. 2013. <http://darrenhobbs.com/2013/04/09/explain-like-im-five-bitcoin/>. Lee, Timothy B. "An Illustrated History of Bitcoin Crashes." Forbes. (2013): n. page. Web. 10 Nov. 2013. <http://www.forbes.com/sites/timothylee/2013/04/11/an illustrated-history-of-bitcoin-crashes/>. "History." Important milestones of the Bitcoinproject. <https://en.bitcoin.it/wiki/History>.

More Related