Digital currency, Bitcoins

DIGITAL CURRENCY, BITCOIN R E T H O R I C S K I L L S P R E S E N T A T I O N

F E S S E H A T S E G A Y E M A M O

H O C H S H U L E O F F E N B U R G

A P R I L 2 0 1 3

CONTENTS • Money and Digital Currency • Cryptocurrency • Bitcoin

Concept Statistics and market vlaue What can you do with bitcoins?

MONEY AND DIGITAL CURRENCY • Electronic money that acts as

alternative currency • They are not produced by

government-endorsed banks • Unlike virtual money they are used in

transactions of real goods and services

DIGITAL CURRENCIES

http://en.wikipedia.org/wiki/Digital_currency

CRYPTOCURRENCY

• Holder has ownership

• No other records kept as to identity of owner

• Easy to keep anonymous

http://en.wikipedia.org/wiki/Digital_currency

CRYPTOCURRENCY ...

• Hard or impossible to replace if lost or stolen

• Derives trust from mathematical properties

• Based on established, trusted cryptographic primitives

http://en.wikipedia.org/wiki/Digital_currency

BITCOIN

• Decentralized

• Anonymous

• Created via peer-to-peer networks

• Concept created by „Satoshi Nakamoto“

BITCOIN CONCEPT

• Public but anonymous transactions

• Based on block chaining of cryptographically-signed transactions

• Miners – secure the system

BITCOIN CONCEPT ...

• Miners are awarded bitcoins or transaction fees for successfully finding blocks

• ~21million bitcoins

https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png

BITCOIN STATISTICS

http://en.wikipedia.org/wiki/Digital_currency

BITCOIN STATISTICS ...

http://blockchain.info/charts/

BITCOIN MARKET VALUE

http://blockchain.info/charts/

WHAT CAN YOU DO WITH BITCOINS?

• Snacks

• Vitamins and supplements

• Website hosting

• A sports car!

http://blockchain.info/charts/

http://blockchain.info/charts/

Traveling the Silk Road: A measurement analysis of a large anonymous online marketplace

http://wikispeed.com/Affordable

Thank you!

Any Quesitons?