Navigating BTC: From Mining to Trading
Navigating BTC: From Mining to Trading
The rise of Bitcoin has ushered in a new era in finance, challenging traditional banking concepts. This exploration delves into BTC's fundamental algorithms, mining processes, exchanges, and wallets, while uncovering the intertwined relationship of crypto-assets with the global economy. Engage with the innovations driving this digital currency and its potential to reshape financial landscapes.
Navigating BTC: From Mining to Trading
@financepresentations1 week ago
Introduction of BTC - Overview the concept of BTC and its current eco-system
Yaacov Kopeliovich
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8
NOC
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6
25
- · BTC Algorithm and its applications to finance
- · BTC Mining - PoW
- ·
- BTC Exchanges
- · BTC Wallets
- · BTC Price Performance
- · BTC forks and concept of free money
- · BTC Extensions - Etherium and Ripple
- · We trust the Centralized Hubs like Banks and Investment Companies to Perform the following main functions:
- · Keep an orderly ledger of our debits and credits ( Ordering Financial Transactions)
- · Prevent malicious states where one person can send multiple checks to many accounts without having funds to cover them in his own account.
- · Until the financial crisis it was an accepted truth that trust couldn't function peer to peer and we need a centralized hub.
- · In January 2009 a whitepaper appeared that revolutionized this field as we know it
- · The anonymous author made the clever observation that trust will not be needed if EVERYBODY would participate in one giant public ledger.
- · How do we verify somebody's identity online?
- · Suppose I like to track whether Assaf entered his office.
- ·
- I can track his computer office remotely and every time he comes I record his logging in and out from his office computer
- · I don't know Assaf's password to know that he is in his office.
- · The idea of digital verification is very close to Assaf's example.
- · To accomplish that we generate a pair of strings ( called keys)
- · One string we publish for everybody to see
- · One is Kept Private
- · Find the public key address of the person we like to send BTC too
- · Use our private key to encrypt the message : We are sending so many BTCs to this public key.
- · Anybody with our public key can decrypt our message and verify that we sent the transaction.
- · Is it black magic? - How can you decrypt the message without knowing private keys?
- · Think about squaring and extracting square roots. One is easy and one is harder.
- · Yet if somebody gives you a square root you can verify the solution easily
1. Overview
Overview
Size of market
Advantage
Correlation
Comparison
future
Regulation
2. Disclaimer
What I am not going to do in this talk is to express my opinions about crypto-assets. I am not going to recommend investing in BTC and other Crypto-Assets. Invest in your own peril if you have decided to do it.
3. Overview
Overview
Size of market
Advantage
Regulation
Correlation
Comparison
future
Why do we need Financial Institutions?
1. Overview
Overview
Size of
market
Advantage
Correlation
Comparison
future
Trust without a middle man - make all transactions public
Regulation
1. Overview
Verifying Identity Online - Digital Signatures
1. Overview
Verifying Identity Online - Digital Signatures
1. Overview
Verifying Identity Online - Digital Signatures
To send payment to somebody we perform the following actions:
1. Overview
