bitcoin for social innovators
DESCRIPTION
An overview of what Bitcoin is, and what it may bring.TRANSCRIPT
BitcoinFor the Social Innovator
John MardlinB.Sc. Math& Eng. Queen’s U.
coinforest.com
TEDxVictoria
mardl.in
@johnmardlin
quora.com/john-jeffrey-mardlin
● Bitcoin v. Financial Status Quo ● How Bitcoin Works ● The Promise of Bitcoin ● The Challenges of Bitcoin ● Beyond Bitcoin
Agenda
Bitcoin is money for the internet.
Financialization
What is Bitcoin, REALLY?
Satoshi NakamotoAn internet creation myth
WalletsThe Bitcoin software
Wallet
Addresses & Transactions
This is a Bitcoin address:
1Kaxcsyj3wUCkffNhfd9pLYB7hmQrFa2iq
This is a Bitcoin address:
1Kaxcsyj3wUCkffNhfd9pLYB7hmQrFa2iq
KyN6RvhWyAzfTtbHAfSrjZYXvsAYnNFa2C4N8n9ttQmrBZxTWP5p
This is its private key:
This is a transaction. Send 5 BTC from 1Fi57hAqyYYwaQVdA7a9qSKfiukBbt31G3 to 1NDpZ2wyFekVezssSXv2tmQgmxco
5.2894 BTC
1Fi57hAqyYYwaQVdA7a9qSKfiukBbt31G3
12t55VJvphiUEGKqqwbd5bGGbnLkbygbV6
Mining
The BlockchainA distributed public ledger
This is a block.
A new block is create every
10 Minutes.
A block contains recent transactions.
Txn f5d8ee…
Txn a0347d...
Txn b73151…
Txn 552c91...
Txn 8cf0cd4…
Txn e541b3...
This is the blockchain.~3
00,0
00
The flow of Bitcoin is publicly visible.
1QHY …
Bg3
137y …
H3M
1aMS …
P3t1PxF…
23z
1PYh …
9NB
1LBE …
KHz
1JdE …
5eu
Bitcoin issuance is fixed.
2009 2041
50%
100%21
02014
(Mil
lio
ns o
f B
itco
ins)
0%
11.5
Getting and using bitcoins.
● ATMs● Online exchanges● Brokerages● In person
Bitcoin price in USD
Bitcoin Price (Log scale)
● Remittance● Microtransaction● Currency freedom● Permissionless● Wealth Distribution● Carbon and Energy● Security
Remittance (Sending money home)
Microtransactions
Currency Freedoms
Permissionless
Unregulated
Transparency
Wealth distribution of Bitcoin
Wealth Distribution of USD
Security challenges
Electricity & Carbon Footprint
Beyond Bitcoin
Peercoin
Auroracoin
Dogecoin
Coinye West
Litecoin , Quarkcoin, Megacoin, Darkcoin, Karmacoin, Unobtanium, Extremecoin, CryptogenicBullion, Earthcoin, Solarcoin, BBQcoin, Flappycoin, Lottocoin, Nyancoin, QQcoin, RonPaulcoin, Joulecoin, AmericanCoin, Galaxycoin, Lebowskis, Lovecoin…
Beyond Currency
Twister
A wave of decentralized apps…
Find out more:
Slides and more links available at coinforest.com/presentation
Sources● Financialization graphic: http://noahpinionblog.blogspot.ca/2013/02/finance-has-always-been-
more-profitable.html● Magic internet money image: http://www.reddit.
com/r/ads/comments/1q1h40/magic_internet_money/● USD Wealth distribution: http://www.forbes.com/sites/moneywisewomen/2012/03/21/average-
america-vs-the-one-percent/● BTC Wealth distribution: https://bitcointalk.org/index.php?topic=316297.0● Map of cryptocurrencies: http://mapofcoins.com/● Bitcoin network hash rate and pricing: https://blockchain.info/charts● Remittance data: http://remittanceprices.worldbank.org/● Inflation data: http://www.economist.com/blogs/graphicdetail/● Mining equipment image: www.gizmodo.com.au/2013/04/digital-drills-the-monster-machines-
that-mine-bitcoin/