A short presentation about bitcoin, how it works and why it's here.

1. for noobs
http://bit.ly/bitcoinfornoobs/
@mikegreenberg
South Florida Hack and Tell
July 9th, 2011
Monday, July 18, 2011

2. for noobs
http://bit.ly/bitcoinfornoobs/
@mikegreenberg
South Florida Hack and Tell
July 9th, 2011
Monday, July 18, 2011

3. http://www.flickr.com/photos/anijdam/2585351373
Monday, July 18, 2011

4. http://www.flickr.com/photos/jeco/2246667886
Monday, July 18, 2011

5. (Not really slaves.)
http://www.flickr.com/photos/copleys/1842040675
Monday, July 18, 2011

6. Monday, July 18, 2011

7. http://www.flickr.com/photos/siutou_amy/1751631879
Monday, July 18, 2011

8. Limited Supply Fiat Currency
Abundant Need
Monday, July 18, 2011

9. http://www.flickr.com/photos/truthout/4603014252
Monday, July 18, 2011

10. Monday, July 18, 2011

11. The World’s First Decentralized Digital Currency
Monday, July 18, 2011

12. The World’s First Decentralized Digital Currency
Huh!?
http://www.flickr.com/photos/photojonny/2268845904
Monday, July 18, 2011

13. That’s right!
Decentralized
Monday, July 18, 2011

14. No Centralized Authority Needed
http://www.flickr.com/photos/afagen/2390552902
Monday, July 18, 2011

15. How could that
possibly work?!
Monday, July 18, 2011

16. How could that
possibly work?!
(you crazy hippie...)
Monday, July 18, 2011

17. Bitcoin Transactions & You
a short story
Monday, July 18, 2011

18. PUB
PRIV
Bitcoin Ledger
Your Bitcoin Wallet
Monday, July 18, 2011

19. Your (Actual) Bitcoin Wallet
Monday, July 18, 2011

20. PUB
PRIV
Bitcoin Ledger
Your (Abstract) Bitcoin Wallet
Monday, July 18, 2011

21. 2 btc
12UE2zDKob8a
2 btc RBwW6tL7jpq
mwu97ejNB3w
A Typical Transaction
Monday, July 18, 2011

22. PRIV
2 btc
12UE2zDKob8a
2 btc RBwW6tL7jpq
mwu97ejNB3w
A Typical (Signed) Transaction
Monday, July 18, 2011

23. R U
ok? Bitcoin Ledger
a bitcoin P2P node
A Typical (Unverified, yet Signed) Transaction
Monday, July 18, 2011

24. R U
ok?
PUB
Checking the Signature and Ledger Balances
Monday, July 18, 2011

25. OK! = 1 confirmation
A Typical (Verified) Transaction
Monday, July 18, 2011

26. 1 confirmation
P2P Consensus
Monday, July 18, 2011

27. 6 confirmations
P2P Consensus
Monday, July 18, 2011

28. 12 confirmations
P2P Consensus
Monday, July 18, 2011

29. 25 confirmations
P2P Consensus
Monday, July 18, 2011

30. 52 confirmations
P2P Consensus
Monday, July 18, 2011

31. vs
Centralized Authority Decentralized Authority
Decentralized
Monday, July 18, 2011

32. One Large
Block Chain
the digital ledger
Monday, July 18, 2011

33. new transactions
f(x)
verified “block”
cryptographic
characteristics
Gathering New Transactions
Monday, July 18, 2011

34. }
New Block
Block Chain
...
A Chain of Trust
Monday, July 18, 2011

35. x
...
Validating a New Block
Monday, July 18, 2011

36. Bitcoin Mining
(yes. like gold, only there’s still something to find.)
Monday, July 18, 2011

37. Logarithmic Bitcoin Seeding over Time
Monday, July 18, 2011

38. Show and Tell
Monday, July 18, 2011

39. Questions?
@mikegreenberg
Bitcoin Donations: 12UE2zDKob8aRBwW6tL7jpqmwu97ejNB3w
Monday, July 18, 2011