Alternative currencies

Group Members• Manish Jain

• Kaynat Khan

• Rupali Sakpal

• Vivek Shah

• Vishakha Tank

How they can change Economics forever

ALTERNATIVE CURRENCIES: BITCOINS

Roll no : 12, 15 , 40 , 43, & 54

EVOLUTION OF MONEY

What is Bitcoin ??• Bitcoin is a cryptocurrency in which the transaction takes place

peer to peer from one user to another user without any intermediary and it is distributed in nature.

• Founder of bitcoin is a Group of Programmers under the name of “Satoshi Nakamoto”.

• It does not involve Government.• Bitcoin is open source.• Bitcoin maintains a public ledger where the transactions are

verified by computing power.• 1 Bitcoin = 60864.47 INR• 1 Bitcoin = 895 USD• 1 Bitcoin = 100,000,000 Satoshi

WORKING OF BITCOIN

SUPPLY DEMAND CURVE OF BITCOIN

IMPACTS OF BITCOIN ON ECONOMY• Reduce Trade Barrier • Bank would lose much of their ability to control

money supply , interest rates and exchange rate.

• It would become more difficult for the government to collect taxes.

• Loans would be taken out more rarely.• Liquidity in the economy will not exist.• Economic and financial transaction would not be

restricted by national borders.• Individuals would gain more control over their

own finances and money.• Tax Saving • The financial sector would shrink and become

less profitable. • No excessive withdrawals