Transcript: Digital Payments with Monero twitter.com/realXeagu 8874 3678 9012 3456 Miner Fees Transactions Alice Bob Miner Reward Alice's Bank Digital Commerce with Traditional Finance
Transcript: IDEA. J.P. Plain's Cryptocurrency Management Joshua P. Plain THIS IS A BUSINESS WHAT IS CRYPTOCURRENCY? MY IDEA My idea is to create a company based on the trading of Cryptocurrency. Cryptocurrency is a recent advent that promises to revolutionize transactions as we know it. Cryptocurrency is so popular because of its technology, the distributed ledger. What is the distributed ledger? What is the distributed ledger? As I mentioned, cryptocurrency is so popular because of its new transaction system, the distributed ledger. The distributed ledger is also known as the blockchain. The blockchain is a technology that records every cryptocurrency transaction that takes place. Here's how it works. I send my cryptocurrency out into the blockchain and associate that with a end address. This end address is 26 - 35 letters/numbers and is completely unique. Meaning that I can send cryptocurrency out into the blockchain and have it associated with that address. Once it is associated with that address, the blockchain recognizes that this specific address has received that payment and allows the new user to choose what they want to do with it. The simple answer is, no, you cannot copy cryptocurrency. This is because of the aforementioned distributed ledger. The distributed ledger is basically a ledger that contains all cryptocurrency transactions. Think of it like a public ledger in a town. Every time I want to make a transaction, I must record that transaction on this public ledger. When I write that transaction down, people will hold me accountable to that transaction and make sure the recipient receives his payout. This means that when I send something out into the blockchain, everyone in town sees that transaction and the recipient has people to use as witnesses if the original sender tries to scam him. This means that the blockchain is that public ledger and the people that verify it are the miners in the cryptocurrency world. The job of the miners is to verify that transaction and in return they get 1% of that transaction. Can I copy cryptocurrency? Can I copy cryptocurrency? In the blockchain, miners are the computers that verify a transaction. In the previous example, people verified transactions on the public ledger. In today's time, all of that is done by computers(miners). These computers are very powerful pieces of hardware that verify the transaction. This is done by when the user sends their cryptocurrency out into the blockchain. When they send it out, they are packaging it into blocks (hence the name, "blockchain"). The blocks used for bitcoin are 1MB in size and can contain 1MB of transactions. When the blocks are sent out into the blockchain, they are encrypted. The miners then decrypt these blocks and see the address it is supposed to be sent to, the address it is from, and the amount of cryptocurrency. Once a miner successfully decodes a block, it gets verified. Typically a transaction will have to be verified ~3 times for the recipient to receive their cryptocurrency. During the process, there is the mining fee. This fee is deducted to keep the miners mining. Without the mining fee, there would be no reason for miners to verify the transactions and no transacitons would ever go through. Who are the miners? Who are the miners? MY IDEA MY IDEA My idea is to bring blockchain to everyone. A lot of people that I have tried to explain blockchain to have not been able to understand me. And a lot of people do not trust shady websites taking their money and converting it into some "currency." I have understood all of their concerns and have come up with a plan. Why don't we have brick and mortar buildings that act as investment advisories for cryptocurrencies! Since a lot of people cannot understand cryptocurrency, why don't we relate it to something they already know. A lot of people already go to investment firms and ask for information on stocks. They do this because they typically don't understand stocks and wish someone to explain and advise them on what to do. Since a lot of people are used to face - to - face meetings with people to advise them on stocks, we need to remake that experience but with cryptocurrency. Once we make the connection they are used to, customers will feel much more comfortable when we grow their money. Why we need this WHY WE NEED THIS One of the main goals of cryptocurrency is to replace the dollar as we know it. And in a world of ever increasing population and transactions, we need a way to send money faster than ever before. This is where cryptocurrency comes in. Without the use of a centralized bank, cryptocurrency cannot be taxed. This induces a very appealing idea. I could have an employer that could pay in cryptocurrency and I would not lose any money to income tax. But without common knowledge on this subject, how can this ever happen? This is why we need this businees idea. We must have some way to inform the masses of this new advent while also creating wealth for the OUR
Transcript: I P Blockchain and Cryptocurrency RIPPLE P R L .E Blockchains A system in which a record of transactions made in bit-coin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network. Cardano is a decentralized public block-chain and cryptocurrency project. Overview Ripple About RIPPLE Ripple is a real time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc. The ledger employs the decentralized native cryptocurrency known as XRP, which as of September 2018 was the second largest coin by market capitalization. 1 The Arrival of Ripple Ripple is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. It was first released in 2012 and was co-founded by Chris Larsen and Jed McCaleb. Fun Fact - Ripple is a technology mostly known for its digital payment network and protocol, however, its also has its own cryptocurrency, XRP. 2 Who, What, Why, and WHERE Cryprtocurrency is used by businesses, consumers )(for payment) Cryptocurrnency is a digital currency that is used for regulating and transferring funds Can be used for wealth management - people can manage their assets and investments , digital publishing engagement - audiences engage with presenters or ads and earn tokens, ethical business practices - CC makes tracking transactions easier 3 Ripple Today MoneyGram, one of Ripple's highest-profile partners, announced its cooperation with Amazon and Google to improve the effectiveness of its cross-border money transfer product. MoneyGram is now Ripple's main partner and the largest user of its remittance product, On-Demand Liquidity. In 2020 Ripple completed the acquisition of its $50 -million stake in MoneyGram. Where and How to Get Cryptocurrency What YOU Can Do The first essential step in buying Ripple is, well, knowing where to buy Ripple. Unfortunately, not every cryptocurrency exchange has Ripple, but there are alot of other exchanges where you can get them fix. A cryptocurrency wallet is a place to digitally store, send, or receive cryptocurrency via having a special key. Making Payments Payment Options Making payments with cryptocurrency can be difficult because companies are hesitant about taking them. This process has become easier with card linking options. Users can link their digital wallet to a prepaid card that converts their finances to a new currency. What you can use so companies can process your cryptocurrency - Skrill Quick Checkout - Coinbase Is it real ? Can you make money with cryptocurrency. Yes, with mining. When considering how to make money with cryptocurrency, mining is one of the methods that always comes up. Mining cryptocurrency is one of the best ways to make money with altcoins as it's extremely passive: just invest in the equipment, set it up, and let it run. Are you really anonymous when using a cryptocurrency? Make new addresses for every single transaction you make. Most people are lazy and when paying for something in cryptocurrency they will use the same public address as they did for the last transaction. ... But even in the modern world of cryptocurrency regulation, you can still stay anonymous. Are you really anonymous? Can you lose Bitcoin or another cryptocurrency? There are several ways you can lose Bitcoin. Like WIRED, you can simply lose track of your private key or your hard drive. ... This is the most common way to lose Bitcoin; even Elon Musk tweeted that he forgot how to access a portion of a coin. Can you use it? How likely is cryptocurrency to become a major payment network? The future of cryptocurrency and XRP remains unknown. If it is to be successful, the market volatility of cryptocurrency will need to be drastically reduced and security will need to be improved. Nonetheless, cryptocurrency does hold interesting potential. Will it be a new currency? Is the Use of Your Crytocurrency Legal Cryptocurrencies are not legal tender in any jurisdiction; they, unlike the conventional currencies issued by a monetary authority, are not controlled or regulated and their price is determined by the supply and demand of their market. Is Crytocurrency Used For Illegal Activities. Yes it can be , let me explain Is it Legal? Ripple price Ripple is worth $0.0373 us dollars. Whats it worth.
Transcript: BITCOIN LITECOIN ETHERUM CRYPTOCURRENCY The most basic answer is internet money. What is it? What is it? Cryptocurrency is a revolutionary new way f... Cryptocurrency is a revolutionary new way for people to store and transfer their money. Imagine one day being able to pay for anything with your smart phone or computer. These days having a smartphone is almost necessary to keep in the changing world, so why not have a way to store YOUR hard earned money. We will go through this today. 2017 might not be the biggest year for bitcoin but it is going to be the year the sleeping giant woke up. For years bitcoin flew under the radar for most gradually increasing in value over the years. Along the way a news story here or there would surface, usually somthing negative. This year changed all that. Rise of bitcoin Rise of bitcoin Opening January 1st 2017 at $996 it has soared over 1500% in one year. Along the way it has gained more publicity than all previous years combined. Many companies are either starting to accept bitcoin such as overstock.com, a popular shopping site, or even developing their own exchanges to get in on trading, Bank of America just patented a technology for that. If 2017 is the year for bitcoin woke up, 2018 will be the year it takes off running Opening January 1st 2017 at $996 ... History of Bitcoin History of Bitcoin The most famous and widely used crypto currency is bitcoin, This is the "daddy" of the crypto market. Bitcoin was created in 2009 by an unkniwn person using the alias Satoshi Nakomoto. Mr. Nakamoto first introduced a white paper explaining his vision for a peer to peer online money system that was both anonymous and not regulated by anyone but the users of it. With a total of 21 million bitcoins that will ever be created it is not a currency that can be manipulated or over produced. This decentalized currency also acts as an idea to be used as a day to day money system. That has failed. Where it did succeed however is becoming the most successful asset of 2016 and 2017. This coin was worth cents in 2009, that same coin you bought for less than a penny then is now worth over ten thousand dollars. With a total of 21 million bitcoins that will ever ... Why it will succeed Why it will succeed Very Low fees Fewer Risks foro Merchants Information is Transparent Control and security Freedom in Payment Bitcoins Cannot be Stolen Other Coins Other Coins Bitcoin is not the only cryptocurrency out there, it is simply the one that dominates the market and backs other crypto, think about the dollar backed by gold. Since then many other crypto coins have been created such as Thereum and Litecoin. The success of these greatly depends on the team behin it, the technology, and of course the popularity. Trading Trading The top bitcoin exchange Coinbase just became apples number 1 app for iPhone and other apple devices. Coinbase is a US based exchange that allows you to purchas bitcoin with the US dollar. You can use your bank account, debit card, wire transfer, eve paypal as a payment method for purchase. cryptocurrencies strive to be on this exchange because it is the most famous among the crypto users and investors. Basically your goals is to buy when the market is down and either hold your coins for a long term profit or sell when it goes high for a quick buck. cryptocurrencies strive to be on this exchange because it is t... Currently Coinbase only allows the purchase and selling of Bitcoin, Etherum, and Litecoin but plans are in the works to add more crypto for purchase. When you are ready to cash out you simply sell your coins and withdraw your money into a bank account of your choice. Coinbase isnt't the only exchange however, tere are many other exchanges that offer trading of other coins. From there you can simply transfer your bitcoin to coinbase and folow the cash out method. Currently Coinbase only allows t... Future Future On December 11th bitcoin will hitanother milestone in the fact that the CBOE (stock exchange based in chicago) will start trading what's called bitcoin futures. This means more of the big wall street type investors can safely start trading bitcoin without that much risk associated with the volatility. Without going into too much detail the basic facts are that it's starting to gain acceptance among the financial world. This is just the beginning as another exchange in Chicago will start doing the same mid-December. Without going into too much detail t... Everyday more and more people are getting involved in bitcoin family members are telling their friends and family and they are passing the news also. Soon it will spread fasterthan anyone can imagine. With the continued need of the internet and social media cryptocurrency will soon join that list as a necessity of everyday life. Everyday more and more people are getting involv... Why we believe Why we believe If done right you can gain back freedom in your financial world YOU are in control of YOUR money The This
Transcript: Why should i invest in this? there are a handfull of coins out there, im going to focus on the most popular, bitcoin. There are a growing number of businesses that support bitcoin and there are many countries that consider it a legal currency. By Conor Bone - s0244734 Cryptocurrency is a very forward thinking system that can be a shock to the world that needs time to flourish. Advantages Summery: Introduction disadvantages Cryptocurrency Ok, ware can i use this? How is it like £ and $ ? "A digital or virtual currency that uses cryptography for security." - investopedia.com Basicly: Cryptocurrency is just like £ or $. But is decentralised, digatal money created, held and spent electronicly around the world. What is Cryptocurrency? The value of this currency is fluid with although at the beginning this means a potential for a high return investment, ultimately means that the market is very volatile and is prone to change. Unless personal logs are kept the transactions are completely anonymous, this can be good as a method of privacy and a part of a users freedom, but can also be harmful in certain circumstances There are few critical advantages to bitcoin : because the underlying encription used in all the processes the entire ecosystem is more secure the miners, consumers and the sellers. Due to the non centralised nature of these currencies, no one person holds control of the wealth. and among others, the currency is easily accessible by everyone and is completely global. Cryptocurrency is currently a very new market relative to the other forms of currency. This means, the price is going to rise as it ages. That is why you should mine or buy soon so you can turn a profit. Based on statistics, Bitcoin(most expensive cryptocurrency) is 7.5x more volatile than gold, resulting in huge profits.
Transcript: CryptoCurrency Bas Dingemans/A5b Can be exchanged for goods and services Cryptographicly managed currency Value by market forces Every transaction is documented What is cryptocurrency? What is cryptocurrency? No central bank Predictable supply Privacy History can't be rewritten Difference with conventional currency Difference with conventional currency Fast Easy to use Secure No government fines Reduced fraud Why? Why? Energy usage Avenue for criminals No protection when something goes wrong Fluctuating value Why not? Why not? Bitcoin Ethereum Ripple EOS Litecoin Cardano Stellar IOTA TRON Popular currencies Popular currencies
Transcript: CRYPTOCURRENCY Introduction Introduction A cryptocurrency is a digital or virtual currency that uses cryptography f... A cryptocurrency is a digital or virtual currency that uses cryptography for security. Cryptocurrency uses block chain which is, quite simply, a digital, decentralized ledger that keeps a record of all transactions that take place across a peer-to- peer network. Difference between traditional currency and cryptocurrency Difference between traditional currency and cryptocurrency Fiat currency Cryptocurrency 1. Rs, Dollars, Pounds 2. Printing/ physical 3. Centralized 4. Economy 5. Bank a] High charges b] Slow transactions c] Low security 1. Bitcoin, Yocoin 2. Digital/ virtual 3. Decentralized 4. Demand, supply 5. Direct a] Low charges b] Fast transactions c] High security How does it work How does it work work process Blockchain What is Blockchain Currently, most people use a trusted middleman such as a bank to make a transaction. But blockchain allows consumers and suppliers to connect directly, removing the need for a third party. Using cryptography to keep exchanges secure, blockchain provides a decentralized database, or “digital ledger”, of transactions that everyone on the network can see. This network is essentially a chain of computers that must all approve an exchange before it can be verified and recorded. In the case of Bitcoin, blockchain stores the details of every transaction of the digital currency, and the technology stops the same Bitcoin being spent more than once. How does it work in practice Top 5 Cryptocurrencies in the World Top 5 Cryptocurrencies in the World 1. Bitcoin Founder: Satoshi Nakamoto It is the first decentralized ledger currency. It is the Cryptocurrency with the most famous, popular, notable and highest market capitalization. 1. Bitcoin Founder: Vitalik Buterin who was a co-founder of Bitcoin. Supports turning complete smart contracts. 2. Ethereum Founder: Charles Lee It is the first crypto currency to use scrypt as a hashing algorithm. 3. Litecoin 4. Ripple Founder: Ryan Fugger Ripple has been increasingly used by banks as settlement infrastructure technology. Founder: Evan duffield and Kyle Hagan A bitcoin based currency featuring instant transactions, decentralized governance and budgeting and private transaction. 5. Dash Cryptocurrency in India Cryptocurrency in India Cryptocurrency, and especially bitcoin is nothing new in India, and there are already 3 major bitcoin exchanges: Zebpay, Coinsecure and Unocoin. The growth of cryptocurrency in India had been growing steadily, just like in most parts of the world, up until the end of last year . Cryptocurrency, and especially bitcoin is nothing new in India, and there are alrea... Increasing Bitcoin demand On the 8th of November 2016, India’s Prime Minister Narendra Modi demonetized the 500 and 1,000-rupee banknotes. This action was meant to curtail counterfeit cash, but it also left many people panicking. In the panic, Indian residents turned to bitcoin. Indian Bitcoin market was growing higher and higher People shifted to Bitcoins as it is a digital currency and can be stored very easily. Post demonetization, Bitcoin prices are continuously rising. People of India are gaining more interest in Bitcoins and other digital currencies. Thanks to the flagship programme” DIGITAL INDIA” launched by our Honourable Prime Minister Shri Narendra Modi, India is on the verge to become a digital economy and adopt cashless transactions. The people of India are looking for digital payment options and looks like Bitcoin has got the eye of Indians. Increasing Bitcoin demand The popularity of Bitcoins is increasing day by day worldwide and mass adoption is increasing Bitcoin’s prices. Google recently reported that searches from India about bitcoin have reached all-time highs, and the value has too. While bitcoin value in other exchanges is dropping after news from China, in Indian exchanges the value of bitcoin is peaking at $1,080 due to increasing demand. As more Indian residents turn to bitcoin, you can expect businesses to accept bitcoin as well, and the demand should only keep rising as the year goes by. Advantages and disadvantages of cryptocurrencies Advantages and disadvantages of cryptocurrencies Advantages Disadvantages 1.) Ultra secure and inexpensive to secure 2.) Political neutrality 3.) Controlled and capped supply 4.) No need to trust others to perform transactions 5.) Permission less 6.) Low transaction fees and fast operation 7.) Pseudonymity 8.) Impossible to counterfeit 9.) Perfectly divisible , great for micro transactions Advantages Disadvantages Like any currency, there are disadvantages associated with using Bitcoin: 1. Bitcoins Are Not Widely Accepted 2. Wallets Can Be Lost 3. Bitcoin Valuation Fluctuates 4.Built in deflation 5.No physical form 6. No Buyer Protection 7. Risk of Unknown Technical Flaws 8.No valuation guarantee After the positive results received by Bitcoin other cryptocurrencies were
Transcript: Cryptocurrency Bitcoin: is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency – the system works without a central repository or single administrator. What is it? 1 How does it work? 2 #1 #1 A cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency #2 #2 Transfering (Purchasing) A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. *Blockchain: is a public ledger where transactions are recroded and confrimed anonymously. #3 #3 It is like a Peer-to-Peer network for file sharing Growth Q1 Q2 Q3 BANKRUPTCY In 2015 Bitcoins price was at a steady $635 USD. In 2015 Bitcoins price was at a steady $635 USD. It wasn't until 2017 that Bitcoin gained its popularity that caused it's expidited growth. It wasn't until 2017 that Bitcoin gained its popularity that caused it's expidited growth. Since it's $997 USD value in Jan. 17'-Dec. 17' Bitcoin's price value has risen to a high $10,000 USD. Pro's 1. Increasingly wide acceptance as a payment method 2. Lower transaction fee's 3. Independence from political agents and creators 4. Built-In Scarcity 5. Anonymity and Privacy relative to traditional currencies. Con's 1. Exposure to Bitcoin-Specific Scams and Fraud 2. Exposure to Black Market Activity 3. Susceptible to High Price Volatility 4. No Chargebacks or Refunds 5. Potential to be replaced by Superior Cryptocurrency My Position Bitcoin is better! Why use Bitcoin? What are the benefits? Why is it better than cash or credit cards? Why? Why? It's made for our generation What I mean by that is bitcoin is made for the Internet-generation. We are quickly moving past the days of carrying around paper cash or pulling out your credit card. Bitcoin goes several steps further than the convenience of credit cards by equipping users with a payment option that is significantly lower in fees. On top of convenience, bitcoin offers credit card users freedom from the concerns of fraud, identity theft, and crippling interest rates. It's made for our generation It's fast, secure and global Bitcoin doesn’t discriminate. You can use it anywhere in the world, to send value almost instantly, nearly for free. It’s important to remember that bitcoins can’t be counterfeited or duplicated. The cherry on top is that transactions are conducted in a peer-to-peer method, without the need for a bank or third party to oversee it. It's fast, secure and global Bitcoin was designed with your privacy in mind The bitcoin protocol does not require people to identify themselves in order to transact, though some businesses may need to for compliances reasons. Unlike a bank where people often have one or two accounts, you can create as many bitcoin wallets as you like. Bitcoin was designed with your privacy in mind Bitcoin is not subject to inflation The total number of bitcoins are capped at 21 million Bitcoin is scarce and fungible, which gives it interesting properties. Bitcoin is not subject to inflation ? Thank You!
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