An introduction to Bitcoin that shows the challenges that exist in communicating it properly, and goes into the core function of the network. How "miners" are processing transactions, and that the money exists only in the cloud, on the open sourced ledger. Follow and learn more! @robertdavid010 http://mymoneycloud.com

1. Bitcoin Primer
beyond the coin

2. Robert David
entrepreneur and community builder
http://meetup.com/bitcoinvan
http://mymoneycloud.com
Startup Weekend Vancouver:
Disruptive Tech
@robertdavid010

3. Did You Know?
misconceptions and information
there is no “coin”
the “wallet” is not a part of the
protocol
over 10% of all currency has
been stolen
virtually impossible to define

4. Network Technology
distinct definitions
Term
Web
protocol
http:
message
email
client software
Netscape
key
password
currency
dollars/yen
Bitcoin

5. “Bitcoin”
everything and nothing
Term
Web
Bitcoin
protocol
http:
Bitcoin
transaction
email
Bitcoin
client software
Netscape
Bitcoin
key
password
Bitcoin
currency
dollars/yen
Bitcoin

6. “Netscape”
what is Netscape?
Term
Netscape
Bitcoin
protocol
Netscape
Bitcoin
transaction
Netscape
Bitcoin
client software
Netscape
Bitcoin
key
Netscape
Bitcoin
currency
Netscape
Bitcoin

7. Bitcoin “Mining”
mining = payment processing

8. What Is Bitcoin?
accurate definition
Bitcoin is a brand
“The brand is the biggest challenge...”
-Venture Capitalist

9. Definition
making understanding accessible
An open source ledger of numbered
accounts shared over a payment
processing network.
“Bitcoin” does not appear in the ledger

10. Banking Ledger
numbered accounts
OpenLedger.xls

11. OpenLedger.xls

12. OpenLedger.xls

13. OpenLedger.xls
Bittorrent

14. Download & Process
authenticate transactions against the ledger

15. Decentralized
process transactions for a
chance to win!

16. Round Trip
from issuance to spending

17. How It Works
keeping it simple
1
Anyone can download the
open-source ledger
2
Anyone with the ledger
can process transactions
3
Process transactions to
get rewarded with new
currency

18. Why It Works
network effect in multiple dimensions
a balanced system of
feedback loops
the broadest benefit creates
the greatest adoption
process - security
share - usability
invest - price

19. Not Anonymous
privacy, not anonymity
sources:
Satoshi Paper
University College, Dublin
FBI
NEC Laboratories, Europe
The Weizmann Institute of
Science, Israel

20. Take Away
things to keep in mind
no digital “coins”
completely separate system
mining = payment processing
random & distributed, no point
of control
not illegal
Fincen, Fintrac, CRA, ECB, US
Courts...

21. The End
beyond bitcoin