Bitcoin Presentation

Bitcoin Presentation

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@financepresentations
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3 months ago 271
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Key Insights
  • Bitcoin was founded as a decentralized cryptocurrency without the need for central banks or intermediaries and was accepted by over 1,000 industries worldwide by 2012.
  • The consensus algorithm, utilizing SHA256, Proof of Work, Public Key, and Private Key, plays a crucial role in Bitcoin's operation.
  • The process of transaction involves key elements such as public and private keys, hashes, and signatures.
  • Mining and bootstrap processes involve equations, the bootstrap process, and the common prefix.
  • Due to volatile price that cannot compete with high transaction costs, Bitcoin unlikely to replace fiat currencies.
#Bitcoin #Blockchain #Economics #Cryptocurrency #Decentralization
BITCOIN / BITCOIN CASH 
(BTC)
By: Devin Peterson
CSC 595 – Bitcoin & Blockchain
1/11
THE FOUNDATION
• Founded as a decentralized 
cryptocurrency without the need of 
central banks o…
2/11
THE CONSENSUS ALGORITHM
• SHA256
• Proof of 
Work
• Public Key
• Private Key
3/11
PROCESS OF 
TRANSACTION
4/11
PLATFORMS OF TRADE
5/11
MINING AND 
BOOTSTRAP
• The Equation
• The Bootstrap Process
• The Common Prefix
6/11
ECONOMICS OF BITCOIN
7/11
ECONOMICS OF BITCOIN
INELASTIC EXPANSION AND SLOW GROWTH
8/11
ECONOMICS OF BITCOIN
MINING DIFFICULTY AND PRICE
9/11
ECONOMICS OF BITCOIN
MARKET REACTIONS
10/11
Common Question - "Will bitcoin replace fiat currencies?" 
Most likely no, because the too volatil…
11/11

Bitcoin Presentation

  • 1. BITCOIN / BITCOIN CASH (BTC) By: Devin Peterson CSC 595 – Bitcoin & Blockchain
  • 2. THE FOUNDATION • Founded as a decentralized cryptocurrency without the need of central banks or intermediaries. • 2012 - Over 1,000 worldwide industries accepted BTC. • 2014 – Mt. Gox (744K) • 2017 – Nearly $20,000 • The brilliance behind BTC • The Blockchain
  • 3. THE CONSENSUS ALGORITHM • SHA256 • Proof of Work • Public Key • Private Key
  • 4. PROCESS OF TRANSACTION
  • 5. PLATFORMS OF TRADE
  • 6. MINING AND BOOTSTRAP • The Equation • The Bootstrap Process • The Common Prefix
  • 7. ECONOMICS OF BITCOIN
  • 8. ECONOMICS OF BITCOIN INELASTIC EXPANSION AND SLOW GROWTH
  • 9. ECONOMICS OF BITCOIN MINING DIFFICULTY AND PRICE
  • 10. ECONOMICS OF BITCOIN MARKET REACTIONS
  • 11. Common Question - "Will bitcoin replace fiat currencies?" Most likely no, because the too volatile price cannot compete as a store value currency in the long run considering the high transactions costs. Moreover, an ideal replacement for an existing fiat currency that will economically function as a proper rate of exchange will lose its appreciation slowly over time, which is not the excitable Bitcoin, or its alternatives.


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