Bitcoin ABC Tilburg 2014

Joris Bontje @mids106

What is Bitcoin?

http://youtu.be/Um63OQz3bjo

Digital Cash

Peer to Peer Ledger (grootboek)

Public Key Crypto

Bitcoin payment address: 37muSN5ZrukVTvyVh3mT5Zc5ew9L9CBare

bitcoin.org

No third parties; low transaction cost

Accounts can’t be frozen or blocked

Transactions can’t be reversed, less fraud for merchants

No hidden costs, limits, rules

Advantages

Wallet can be stolen or lost

Legal uncertainty

High exchange rate fluctuation

Disadvantages

Usage

Remittance

2014-03-12 http://www.coinometrics.com/bitcoin/btix

How to get them?

Mining

Mining Farm in Hong Kong

http://www.coindesk.com/techies-happy-paid-bitcoin-survey/

Why?

For Money trust is essential

Genesis block

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”

Image by: mc_lovin

Wallets

Windows, OSX & Linux

Android iPhone

Web Wallet

Special Hardware

Cold Storage

Future

M-of-N transactions

Payment protocol

Payment via online identity

Smart ContractsDecentralized exchange

“Bitcoin offers a sweeping vista of opportunity to reimagine how the financial system can and should work in the Internet era, and a catalyst to reshape that system in ways that are more powerful for individuals and businesses alike.”Marc Andreessen(VC, founder of Netscape)

? @mids106

Image by: casascius