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Transcript of BITCOIN Presentation
First types of currency used
First coinage use
Evolution US Currency History
Other World Currency Used Today
Africa How to Use Bitcoin What is Bitcoin? Bitcoin is a virtual form of currency that can be used to conduct monetary transactions online.
Inflation prevention How does Bitcoin Work? 1. Setting up a wallet
2. Adding Bitcoins to the wallet
3. Making purchases
4. Vaulting the wallet The user downloads the Bitcoin Software; which generates a unique Bitcoin address where payments can be received (wallet)
Payments are sent to other Bitcoin addresses after the Bitcoin system confirms ownership of account, and that the sender has enough coins to complete a purchase
This confirmation allows for misuse of coins
Completed transactions are not reversible Current Uses Mostly used for technology related transactions
Black market BITCOIN
A Growing Virtual Currency Bitcoin Misuse Lack of a central authority
Illegal activity funding