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@bitcoin, #futureofmoney
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Bitcoin
Knowledge
Series
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
Bitcoin
Knowledge
Series
JANUARY 3, 2009
2009-2010
Satoshi Nakamoto
publishes white paper
tled Bitcoin: A Peer-toPeer
Electronic Cash
System via The
Cryptography Mailing
List.
Bitcoin
Knowledge
Series
Bitcoin
Knowledge
Series
Philosophy
#1 TRUST
#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
Knowledge
Series
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.
Bitcoin
Knowledge
Series
Proper es
Currency
Scarce
Durable
Portable
Divisible
Storage
Dicult to Counterfeit
Widespread Use
YES
NO
NEUTRAL
Bitcoin
X
Bitcoin
Knowledge
Series
ARGENTINA
REMITTANCES
FUTURE POSSIBILITIES
Bitcoin
Knowledge
Series
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
Knowledge
Series
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
Knowledge
Series
Presenting
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Bitcoin
Knowledge
Series
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
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Bitcoin
Knowledge
Series
GainBitCoin
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Bitcoin
Knowledge
Series
Nothing to Fear,
All Mathematics
all Open Source
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Bitcoin
Knowledge
Series
First Step :
Second Step :
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Bitcoin
Knowledge
Series
Either
OR
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Bitcoin
Knowledge
Series
Virtual/Cloud Mining
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for setting up of cloud mining Setup
1.00 BTC
Bitcoin
Knowledge
Series
AFTER 18 Months
1.80 BTC
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Bitcoin
Knowledge
Series
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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
Reward
Value
10
15 Days of DOC
Gi Voucher
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25
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SmartPhone
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Small Car
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Medium Car
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Bitcoin
Knowledge
Series
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Bitcoin
Knowledge
Series
@bitcoin, #futureofmoney
https://www.gainbitcoin.com/signup/winnersteam/L
ThankYou
//gainbitcoin.com
Bitcoin
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Series