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BITCOIN

FUTURE OF MONEY
@bitcoin, #futureofmoney
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Bitcoin
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WHAT IS BITCOIN ?
Bitcoin (capital B) is a peer-to-peer network that
maintains a public decentralized ledger of digital mathbased assets known as bitcoins (lowercase b). The
integrity of this ledger is backed and secured by a
subnetwork of computers (miners) who audit and archive
its transac ons for a reward.
The supply of bitcoins is xed at 21 million and each
bitcoin can be divided into a hundred million pieces
Their ownership cannot be changed within the ledger
without instruc ons from their current owner that
have been cryptographically authen cated (digital
signatures) by a majority of nodes on the Bitcoin
network. In essence, sending a bitcoin is sending
instruc ons to the network to make a change of
custody in the public ledger

DIGITAL
MATH-BASED
CURRENCY

Future of Money
PEER-TO-PEER
NETWORK

DECENTRALIZED
LEDGER

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WHO CREATED BITCOIN


APRIL 23, 2011

JANUARY 3, 2009

Satoshi vanishes from


the Internet a er
emailing a developer
saying he has moved
onto other things

Satoshi releases Bitcoin


source code and
so ware client to the
world.

OCTOBER 31, 2008

2009-2010

Satoshi Nakamoto
publishes white paper
tled Bitcoin: A Peer-toPeer
Electronic Cash
System via The
Cryptography Mailing
List.

Satoshi updates the source


code and writes hundreds
of posts totaling 80,000
words (length of a novel)

Bitcoin
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WHO CREATED BITCOIN


Satoshi Nakamoto is believed to be a pseudonym for the individual or group
of individuals responsible for Bitcoin. No record of a programmer by this name
exists prior to Bitcoin.
His P2P Founda on account details say he is a 38-year old male living in Japan.
In Japanese satoshi means clear-thinking or wise, naka can mean inside or
rela onship and moto is used to describe the origin or the founda on.
Strung together it reads thinking clearly inside the founda on
If an individual, he is a world class programmer with deep knowledge of C++,
economics, cryptography and peer-to-peer networking.
He writes in awless English. His rst post used American spellings; every post
therea er employed Bri sh spellings and Bri sh colloquialisms.

Bitcoin
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Philosophy

#1 TRUST

What is needed is an electronic payment system based on


cryptographic proof instead of trust, allowing any two willing
par es to transact directly with each other without the need
for a trusted third party.
The root problem with conven onal currency is all the trust
that's required to make it work. The central bank must be trusted
not to debase the currency, but the history of at currencies is full
of breaches of that trust. Banks must be trusted to hold our money
and transfer it electronically, but they lend it out in waves of credit
bubbles with barely a frac on in reserve. We have to trust them with
our privacy, trust them not to let iden ty thieves drain our accounts.
Their massive overhead costs make micro-payments impossible.

#2 CONSENSUS
HOW TO REACH CONSENSUS IN A DECENTRALIZED
SYSTEM
A group of generals of the Byzan ne army camped with their
troops around an enemy city. Communica ng only by
messenger, the generals must agree upon a common ba le
plan. However, one or more of them may be traitors who will
try to confuse the others. The problem is to nd an algorithm
to ensure that the loyal generals will reach agreement.
The Byzan ne Generals Problem

Satoshi Nakamoto
Bitcoin
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Solution : MINING
The Bitcoin mining algorithm is the breakthrough
that solved the Byzan ne Generals Problem and
allows the network to reach majoritarian consensus as
to which bitcoin transac ons are valid and which are
not, without the need for a trusted 3rd party.

Mining makes decentraliza on possible by


taking all of the costs associated with centralized
trusted 3rd par es out of the system, giving the
Bitcoin network and bitcoin the asset its
technological intrinsic value

Mining ensures "digital scarcity" in a decentralized


system by preven ng the same bitcoin from being
spent twice by the same person (i.e., it solves the
double-spend problem).

For their eorts, miners are rewarded with


newly minted bitcoins (or very small transac on
fees) roughly in propor on to the compu ng
power they provide

By dedica ng compu ng power to solving the


mining algorithm, miners act as the network's
scrupulous accountants.

Bitcoin
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Comparison : Bitcoin Vs Gold Vs Currency


Gold

Proper es

Currency

Scarce

Durable

Portable

Divisible

Authen city Verica on

Storage

Dicult to Counterfeit

Widespread Use

YES

NO

NEUTRAL

Bitcoin

X
Bitcoin
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Series

EFFECTS : Bitcoin on various Nations


CYPRUS

March 25, 2013 - Cypriot Financial Crisis


Cyprus freezes all bank accounts, restricting all
withdrawals and transfers of money
Crisis introduces bitcoin to the world as an asset
class immune to bail-ins and fiscal mismanagement;
price of a bitcoin increases 10x.

ARGENTINA

2013 - Capital controls are tightened annually, while


inflation climbs to over 20%
June 2013 - Bitcoin client downloads double in one month
where it stays the same or less in other countries
The spot price of bitcoin in Argentina is 38% higher than
its spot price on global exchanges
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REMITTANCES

In 2012 remi ances hit an all me high of $534B.


On average, global remi ers pay an 8.3% transfer
fee, with some inter-African remi ance fees as high
as 30%
Bitcoin can be sent for free and instantly around
the world with a data or Internet connection.

BANK THE UNBANKED

2.5 Billion adults (half the global popula on) are


underbanked/unbanked.
A Bitcoin wallet allows anyone to send and receive money,
much like a bank account, only quicker and without fees.

FUTURE POSSIBILITIES

A Bitcoin wallet is free - all you need is


Internet access or a data connec on
MICROPAYMENTS

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Bitcoin allows for true micropayments (even less than


$0.01 USD) giving consumers a more dynamic and fairer
oering, thereby increasing revenues and decreasing IP
the (e.g., individual ar cle paywalls vs. monthly
subscrip on paywalls)

Bitcoin: monetary snapshot


In circula on: 15,784,400 BTC
Market cap: $8.99B @ $223/BTC
Transac ons: 225,000/day
Hash power: 1.75 M TH/S
Market trading (USD): $8M/day

Bitcoin:community snapshot
Venture cap: $2M > $95M > $349M > $229M YTD
AngelList count: 512
Wallet count: 2M (coinbase), 3M (blockchain.info)
Reddit subscribers: 160,000
Developer repositories: 5,000+
P2P network nodes: 6,000

Estonia
The United States
Denmark
Sweden
South Korea
The Netherlands
Finland
Canada
UK
Australia
Worlds Top 10 Bitcoin-Friendly Countries
Bitcoin
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Worlds Top 10 Bitcoin-Friendly Countries


The Netherlands
Estonia
Finland
The United States
Canada
Denmark
UK
Sweden
Australia
South Korea
Denmark was recently voted being the happiest country in the
world, and the open mind towards Bitcoin is just another reason
to be happy living in Denmark.
Bitcoin
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INDIA, WITH 2ND HIGHEST POPULATION, ONE OF


THE BIGGEST INFORMATION TECHNOLOGY HUB,
WE DONT EVEN FEATURE IN THE LIST

IMAGINE
Just to Appear on the Top 10 List, We would see a Huge Jump of atleast
20 times of the Present BitCoin Usage BitCoin Mining and BitCoin Business

Bitcoin
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Presenting

GainBitCoin
Opportunity
Bitcoin
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BitCoinMining
Bitcoin Mining : Creation of New Bitcoins and distributing transactions, Till Proof-of-Work,
a new Block is formed roughly every 10 minutes, New Block references Previous Block, Florming a

BlockChain

Effect : Adding New BitCoin (Generation of New Bitcoin)

12.50 BTC Per Block

Around 5.00 Lacs/10 min (Rs 30.00 Lacs/Hour)

GainBitCoin
Opportunity
Bitcoin
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How BitCoinMining Works


Cryptographic Function called : double SHA 256
SHA : Secure Hash Algorithm

GainBitCoin
Opportunity
Bitcoin
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Series

Nothing to Fear,
All Mathematics
all Open Source

GainBitCoin
Opportunity
Bitcoin
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First Step :

Mine a New Block : Collecting New Transactions

Second Step :

Hashing of Block Headers

What do you Require

HARDWARE FOR MINING

(This is Where GainBitcoin come into Picture)

GainBitCoin
Opportunity
Bitcoin
Knowledge
Series

Either

Buy the Hardware from GainBitcoin, Set up your Process,


Provide 24X7 Electricity ; Airconditioning and High Speed
Internet.
Result : You End up Spending more than your Expenses

OR
Buy the Hardware from GainBitcoin, Set up your Hardware
intothe Network of GainBitcoin & enjoy Virtual Mining
Result : Generate Return

GainBitCoin
Opportunity

Bitcoin
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Virtual/Cloud Mining
Invest : Signup a contract by paying 1.00 BTC*
for setting up of cloud mining Setup

Return on Investment (ROI)


10% of Invested BTC for Next 18 Months
(Paid every Fortnight)
NOW

1.00 BTC
Bitcoin
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AFTER 18 Months

1.80 BTC

GainBitCoin
Opportunity

* At GainBitcoin, Both Investment and Returns are in terms of Bitcoin only.


Gain Bitcoin does not take responsibility of Any Prot/Loss arising out of increase/decrease in Exchange Rate of Bitcoin

For those of you who are interested in supplementing


your income by telling others about BITCOIN, please
continue with the Presentation to learn more about the
GainBitCoin BUSINESS OPPORTUNITY

Bitcoin
Knowledge
Series

GainBitCoin
Opportunity

* At GainBitcoin, Both Investment and Returns are in terms of Bitcoin only.


Gain Bitcoin does not take responsibility of Any Prot/Loss arising out of increase/decrease in Exchange Rate of Bitcoin

GainBitCoin Referral
Opportunity Opportunity

TELL OTHERS ...


Bitcoin
Knowledge
Series

* At GainBitcoin, Both Investment and Returns are in terms of Bitcoin only.


Gain Bitcoin does not take responsibility of Any Prot/Loss arising out of increase/decrease in Exchange Rate of Bitcoin

GainBitCoin Referral
Opportunity Opportunity
When someone joins in your Network

5%
Binary Income
8%

Direct Referral

(Some one joining by Personal Efforts)

(Some one joining by Team Efforts Ratio1:1)

Bitcoin
Knowledge
Series

* At GainBitcoin, Both Investment and Returns are in terms of Bitcoin only. Gain Bitcoin does not take responsibility
of Any Prot/Loss arising out of increase/decrease in Exchange Rate of Bitcoin

GainBitCoin Reward and


Opportunity Recognition

1 BTC = 1 Reward Point


Time Period

Reward

Value

10

15 Days of DOC

Gi Voucher

150 US$

25

Any Time

SmartPhone

300 US$

+50

Any Time

Bangkok Trip

800 US$

+100

Any Time

Smart TV

1500 US$

+200

Any Time

Small Car

3350 US$

+500

Any Time

Medium Car

8000 US$

+1100

Any Time

Luxury Car

18000 US$

+2500

Any Time

Fortuner

45000 US$

+5000

Any Time

Flat

75000 US$

+6500

One Yr from

Gi

76500 US$

Reward Point

Last Achievement
Bitcoin
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* Images are for Crea ve Presenta on only. Actual may Vary


Valueis in Approximate BTC Value

GainBitCoin
Opportunity

TODAY

Tell Your Friends, Relatives, Acquaintance

Or, Somebody Else Will

Bitcoin
Knowledge
Series

Join Our Facebook Community Here :


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@bitcoin, #futureofmoney
https://www.gainbitcoin.com/signup/winnersteam/L

ThankYou
//gainbitcoin.com

Bitcoin
Knowledge
Series

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