Download - Bitcoin Past Present Future
BITCOIN AND THE
BLOCKCHAIN:PAST, PRESENT, & FUTURE
By Jeremy Gardner Cofounder: Augur, College Crypto (CCN) Entrepreneur-in-Residence, Blockchain Capital @Disruptepreneur/@BlockchainCap
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@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
GENESIS (BEFORE SATOSHI — 2011)
• May, 1997: Adam Back invents “Hashcash”— “proof-of-work”
• 1998: Wei Dai's b-money and Nick Szabo's bit gold.
• November, 2008: Satoshi Nakamoto releases whitepaper
• “Bitcoin: A Peer-to-Peer Electronic Cash System”
• January, 2009: Bitcoin “Genesis block” is mined
• May 22, 2010: Two pizzas sell for 10,000 BTC
A BRIEF HISTORY OF BITCOIN
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
A BRIEF HISTORY OF BITCOINGENESIS (BS — 2011)
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
THE WILD WEST (2011 — 2013)
A BRIEF HISTORY OF BITCOIN
• August, 2011: Charlie Shrem begins BitInstant
• April, 2012: Erik Voorhees launches SatoshiDice
• July, 2011: First bitcoin price bubble at $31
• May, 2013: Winklevoss twins announce first major investment into the cryptocurrency and BitInstant.
• January, 2014: Shrem is is arrested at JFK airport.
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
A BRIEF HISTORY OF BITCOINTHE WILD WEST (2011 — 2013)
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
ADOLESCENCE (2013 — 2015)
A BRIEF HISTORY OF BITCOIN
• Banks recoil in the wake of Gox implosion
• Price declines and stagnates
• Venture capital investment begins to flow in
• Less ideologically-driven, more experienced executives enter
• Scams and con artists begin to fade away
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
• $1 Billion invested in bitcoin
• NYSE, AmEx, Visa, UBS, Microsoft
• Massive spike in interest in underlying technology, the blockchain
• Growing disinterest in bitcoin as currency
• Virtually every Fortune 100 company has a “blockchain team”
• Launch of Ethereum
BITCOIN TODAYBLOCKCHAIN RISING (2015 — ????)
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
BITCOIN TODAYBLOCKCHAIN RISING (2015 — ????)
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
• Entrenched incumbents will directly and indirectly fuel the next stage of development:
A BRIEF HISTORY OF BITCOINSHORT-TERM PREDICTIONS
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
• Truly invaluable decentralized applications will catalyze consumer adoption
BITCOIN TOMORROWMEDIUM-TERM PREDICTIONS
• Unstoppable peer-to-peer betting:
• Decentralized online markets:
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
• Those who fail to adopt to market demands will cease to exist
• There will be widespread consolidation within the industry
• There will be big sales (to entrenched incumbents)
• Both Ether and Bitcoin are inherently undervalued assets
• Assuming their continued existence, they will increase in value
BITCOIN TOMORROWLONG-TERM PREDICTIONS
@Disruptepreneur/@BlockchainCapO N E F E R R Y B U I L D I N G , S U I T E 2 5 5 S A N F R A N C I S C O , C A
• The biggest battle, that for survival, and legitimacy, has been won
• Rome was not built in a day— likewise, massive disruption does not occur overnight
• Those who adapt for today’s realities will be best prepared for tomorrow’s possibilities
• The future is open-source
BITCOIN & THE BLOCKCHAINCONCLUSION