Bitcoin is a new type of money. This presentation talks about how bitcoins can possible break the fiat banking system protocol.
The first set of slides were there to depict the following story:
Think of a forest, Where a mouse, Morton, befriended an elephant called Joe. Now Morton would threaten other mice in his clan in the name of Joe and take hold of their food. Other mice were helpless because Morton was backed by a bigger animal, and had no option, but to give away their hard earned food. In the course of time, all mice befriended a bigger animal. Dave befriended Carroll the fox and Alice befriended Ethan befriended Noah the Lion and so on. Assuming all of them were collecting food, each one of them could now threaten everyone else and force others to give away their food. The food each mouse ends up with will be proportional to the strength of their big animal friend.
In 2008 came a smart mouse who knew about the happenings in the alienated human world. He was called Satoshi Nakamoto. He thought that he could take on the elephant, fox and lion with a machine gun. So he invested in them, and was able to survive in his population, among other mice with big animal friends. His threatening was way more powerful.
29. Mathematically Controlled Supply
Normal currencies are produced at the will of the legislative
Bitcoin is controlled by an algorithm.
And generated by a process called mining.
There cannot be more than 21m bitcoins ever.
30. Bitcoin Today
Is a mainstream currency
with a total value of 8,822,045,700 USD
and real atms in Canada
and companies like Virgin Galantic, Shopify accepting them
32. Is bitcoin real ?
Yes. Bitcoin is real and interconvertible.
Current Rate : $807 (yesterday’s price)
33. Bitcoin is open by design
Nobody owns it
Nobody controls it
Anyone can take part in it
And that’s why most government institutions/ finance dudes
don’t like it
35. $600 variation in 2 months
1. The currency is not mature
2. But bubble can be justified
36. Why Bubble ?
1. More mouses have started believing in the power of
bitcoin
2. The bitcoin follows supply/ demand principle. More the
demand, more is the price.
37. Bitcoin is not a bubble
The value of a currency increases as the issuing authority
becomes more powerful. The bitcoin issuing authority has
gained sudden traction, hence the value of bitcoin has
increased.