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BITCOIN: The currency of the future?

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by

Neus LLo

on 16 July 2014

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Transcript of BITCOIN: The currency of the future?

BITCOIN: The currency of the future?
1. Introduction
BURSTING OF THE SUBPRIME BUBBLE
CRISIS 2008
INDEX
RECESSION + SOVEREIGN DEBT CRISIS
1. Introduction
CAUSE
FINANCIAL INESTABILITY
DISTRUST TOWARDS FINANCIAL SYSTEM
DISTRUST TO THE VALIDITY AND STRENGTH
OF FIAT CURRENCIES
appear
+
ADVANCE OF NEW TECHNOLOGYES
Make possible the creation of
alternative currencies like
2. Bitcoin basic information
BITCOIN
BITCOIN
is a virtual currency that has a particular characteristics.
WHO
created it?
WHEN
was it created?
HOW
did it appear?
1. Introduction
2. Bitcoin basic information
3. Characteristics
4. Bitcoin Operation
5. Advantages and disadvantages
6. Arbitrage opportunities
7. Conclusions
3. Characteristics
* Fast
* Cost efficient
* Fast
* Transparent
* Anonymous
* Irreversible
* Finite
* Descentralized
Source: ejemplosbitcoin.com
4. Bitcoin operation
What

do you need
to send Bitcoins?
3. Characteristics
* Cost efficient
* Transparent
* Anonymous
* Irreversible
* Descentralized
Source: ejemplosbitcoin.com
How
does a transaction
work?
The confirmation of a transaction and the recording of it in the block chain
BITCOINS
How can one get Bitcoins?

- Selling products and services
- Exchanging cash to Bitcoins
- Mining process


BITCOIN WALLET
* Types:
- Desktop wallets
- Online wallets
- Mobile wallets
- Paper wallets
* Contain:
- The public key
- The private key
Mining process is important because with this process:
1. The transactions are recorded in a block

2. The blocks generated are added in the block chain

3. The transactions are confirmed

4. New Bitcoins are generated

5. Advantages and disadvantages
Bitcoin is a international currency
Bitcoin is a decentralized currency
The supply is limited
The Bitcoins are divisible
Transactions occur instantly
Transactions are irreversible
The Bitcoin system
is safe:
- Prevent the double spending
- Prevent the fraud
- One does not trust in a third part
It is anonymous and transparent
Transactions are free or have a minimal fee
It is possible to make transactions of very small amounts or big amounts
Limited number of Bitcoins could cause a deflation process
Limited number of Bitcoins encourages savings over consumption
The anonymity could encourages the illegal activities
The Bitcoin value changes a lot
People may feel helpless if a problem appears
Bitcoin is a safe currency relatively
There are few retailers which accept it
The purchase of Bitcoins is not
very easy
6. Arbitrage opportunities
7. Conclusion
Bitcoin

- with particular characteristics
- is relatively new
- has a wide acceptance among the worldwide users


INTERESTING ALTERNATIVE
The future of the currency depend on:

- how the market reacts to the new events
- the utility that consumers and merchants will find at this currency

The Bitcoin system has change the vision of the currently financial system

1.
2.
3.
Thank you very much
for your attention!
Full transcript