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Ellery Pham

on 2 December 2013

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Transcript of BitCoin

Alternative Currency: Bitcoin
Bitcoin: History and Current
Are there any other currency like Bitcoin?
Top 3 crytopcurrency : Bitcoin, Litecoin, Peercoin
BitCoin Mining
Why is it called "mining"?
Who mines?
Is there profit?
How can you buy Bitcoin?
From U.S:
U.S Government Cryptocurrency Regulation Proposal
Speculators will drive the price up and down as the currency drew tentative approval from U.S official
High volatility
Should only invest your "at-risk" capital
Long Pham; Andre Ferla; Bich Pham

Local Seller: localbitcoins.com

Centralize Trading Hub: Mtgox; Btc-e, etc (lowest fees = 2%)

No intermediary to shut down
Real challenge to restrain or keep track of financial transactions.
Criminal activities
Its promise of security may be breached, and the currency's fundamentals could work against its long-term acceptance.
No financial hedging instrument available
New financial instrument including Options Future, ETF, may be available
Another commodity like Gold. Thus, its is more likely to be regulate as a commodity.
More competition from many other competing virtual currency
Short-term - Great for trading - Not So great for Investing
Long-term: Uncertainty
For virtual currencies to operate within the U.S financial system and retain their legitimacy, they must abide by the same regulations.
Candidates running for U.S. federal office may be allowed to accept Bitcoin donations but not spend the digital currency.
Government Is Taking Steps to Regulate Bitcoin (SEC, DHS, IRS, CFTC and DOJ)
comparable to a Nano Cap Stock

Top vendors
Acceptance of Bit Coin

around the World
Should we buy it now?
Financial Crime Enforcement Network require Bitcoin exchange and Bitcoin miners should be registered and comply with anti-money laundering regulation.
Will bitcoin continue to raise its value?
Money transmitter licensing
Buy commodity when the Economy in the Recession
The U.S. may go to another recession
Increasing Demand for Hedging
BitCoin is the First and most popular cryptocurrency (comparative advantages)
Full transcript