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BITCOIN

Dawn C. Fleming April 9 th 2014. BITCOIN. Created in 2009 Satoshi Nakamoto (alias) No middle man (Banks) Very low or no fees Anonymous Make purchases Send and receive payments. Bitcoin —what the heck is it?. Mining Bitcoin Exchanges Digital Wallet Block Chain Casascius.

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BITCOIN

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  1. Dawn C. Fleming April 9th 2014 BITCOIN

  2. Created in 2009 Satoshi Nakamoto (alias) No middle man (Banks) Very low or no fees Anonymous Make purchases Send and receive payments Bitcoin—what the heck is it?

  3. Mining Bitcoin Exchanges Digital Wallet Block Chain Casascius Bitcoin jargon

  4. mining • What is Bitcoin Mining? • Created—competing to solve complex math problems • Processing transactions • Securing the network • Keeping everyone synchronized

  5. Marketplaces where you buy or sell Bitcoins • TradeHill • Bitcoin7 • BitPremier • Mt.Gox • Was the largest • Filed for bankruptcy in February exchanges

  6. Ka-SAY-shuss • Physical Bitcoin • Created by Mike Caldwell • Salt Lake City, Utah • The Financial Crimes Enforcement Network • Treasury Department Casascius coins

  7. TRANSACTIONS

  8. Transactions • kept in a public log • only wallet IDs are revealed • never names of buyers or sellers • Currency of choice • individuals buying drugs online • or other illicit activities anonymity

  9. Payment freedom • Send or receive any amount of $$ instantly • Anyplace in the world • Very low or no fees • A user may add fee for priority processing • Fewer risks for merchants • Transactions • Secure • Irreversible Advantages

  10. Degree of acceptance • Plenty of people are unaware • Volatility • Small events • Trade • Business transactions • Down 50% over the last three month • Down 60% since 2013 ($400.00) disadvantages

  11. QUESTION AND ANSWER TIME

  12. http://www.tomsguide.com/us/bitcoin-guide,news-18580.html http://money.cnn.com/2014/03/26/technology/mtgox-bitcoins/index.html?iid=EL https://coinbase.com/signin https://bitcoin.org/en/ https://bitcoin.org/en/faq#who-created-bitcointp://money.cnn.com/infographic/technology/what-is-bitcoin/ http://casascius.wordpress.com/about/ http://www.bitcoinexchanges.net/ http://www.coindesk.com/ Reference information

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