Bitcoin powerpoint
- 2. What is Bitcoin?
-Bitcoin is a technology that allows people to transfer funds
between each other separate from a central authority or bank.
-Open to the public: anyone can join and take part in this
unique money-transfer technology
-Connects people worldwide creating an international network
of “buyers”, “sellers”, and “miners”
-The first decentralized digital currency
-A “Krypto-currency”
-Not run by one single person, it is run by everyone
- 4. How are Bitcoins
Created?
-They are created through transactions made between buyers and
sellers world wide.
-Each transaction has to get approved by a “miner” who is separate
from the buyer and seller.
-Once the miner approves the transaction he connects it with other
transactions that he has also approved until he has enough to add it
to his “blockchain”
- The miner is rewarded a bitcoin when he adds a block to the
“blockchain”
- 5. Security Concerns
• Mt. Gox Disaster
• 460 Million Disappeared
• Not Insured
• Caused Bitcoin Prices to Drop 50%
- 8. What are the risks of using
Bitcoin and investing further in
this new technology?
- 9. Does Bitcoin have the potential to
replace the US dollar as the
international benchmark for
foreign transactions?