2. INRODUCTION
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This presentation is made under MBA
Academic Project. The objective of this
presentation is to enable the audience
and viewers gain overall idea about what
is Bitcoin, how does it come into
existence, what is Bitcoin mining, he
market trends, legality and uses of Bitcoin
and if it is feasible to invest in Bitcoin or
not. The project explains topic by means
of graph, diagram, video etc collected
from various sources and made from
primary data too.
3. INDEX
Basics and Features…………………………………..….4
Timeline ………………………………………………..….6
How Bitcoins work?......................................................7
Bitcoin Mining…………………………………….……….9
Bitcoin Statistics…………………………………………12
Bitcoin Companies ……………………………………...16
Pros ………………………………………………………18
Cons……………………………………………………....19
Should we Invest in Bitcoins ?.....................................21
Other Crypto-currencies…………………………………23
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5. Features
Crypto currency Cryptography
Decentralized P2P
Anonymous Encryption
Transparency Distributed Public Leger
Fast and easy No central authority and
complex procedure
Infinitely Divisible Currently supporting eight
decimal places. 0.00000001
Bitcoin is known “Satoshi”.
Voluntary and free to join
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6. Timeline of Bitcoin
2008: Satoshi
Nakamoto Publishes
Bitcoin white paper
2009: Bitcoin
software made public
and mining process
started and recorded
in block chain
2010: First trade:
10000 BTC spent on
buying two pizzas
2011: Hike in value of
Bitcoins. Rival Crypto
currencie emerged
like Namecoin and
Litecoin.
2012: First Exchange
Buysellbitcoin
launched in India by
Mahin Gupta
2013: Bitcoin price
crashed from 1000
USD to 300 USD
2014: Bitcoin
exchange Mt. Cox
was hacked and
850000 BTC stolen
worth of 450 USD
then value
2014: Chinese banks
closed BTC
exchanges by 2015
2014: Companies
like Dell, Microsoft,
PayPal and others
started accepting
BTC as legal tender
2015: Bitstamp
Hacked.5.2 Million
USD
2015: Bitcoin
declared as
commodity by US
Regulators
2017: Japan
declared BTC as
legal tender
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9. Bitcoin Mining
How can Bitcoin be obtain
Bitcoin?
1. Purchase Bitcoin in
exchange of currency.
2. Receive Bitcoins for any
transaction.
3. Bitcoin Mining : Process of
extracting Bitcoins by
verifying the transactions
through Bitcoin mining
software. This ads the
block to the Block chain
which results in
occurrence of transaction.
The reward for same is
earned in form of Bitcoins.
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10. But Mining is not Easy…
It’s a measure of how difficult is to find a hash below the target
value.
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11. Bitcoins are limited to 21 Million
- Satoshi Nakamoto had designed Bitcoins to limit the issuance to
21 millions.
- This feature is embedded in the protocol and is immutable as the
BlockChain itself.
- The reason for limitation is to create scarcity in order to make it
deflationary. This 21 millionth coin will arrive in 2140.
Will there be no BTC mining
after 21 million coins are extracted?
No. There still be Bitcoin
mining process in order to
maintain the public ledger.
However the reward would
now be the transaction fees
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16. BITCOIN COMPANIES
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Bitcoin is not just
one commodity
but also has
created scope for
other market
player to come up
and create need
want and demand
for their services
and products
21. Should We Invest in Bitcoin
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What's the objective of our Investment?
Just profit earning or the earrings wherein you have some influence? Or tax
Saving?
Crypto currency has highest risk and highest earning
When any investment fluctuates about and above 30%, Its highly risky.
Government discourages for investing in Bitcoins. Coz it is being used in black
market, money laundering, etc. With no central or any authority to answerable to
the losses.
Never invest more than you are willing/able to lose. Buy through average price
over time
Buy Bitcoins only from exchanges that have prove their reputation
Bitcoin is not a currency. IRC has considered it as property. Any capital gain is
taxable. FEMA 1999, RBI Act 1934, other acts are applicable.
23. Other Crypto currencies
Ethereum – Ethereum is the second most famous name in the virtual currency market.
It somewhat similar to the concept of bitcoins however it possesses some additional
attributes. It is purely a blockchain based platform. What makes it special is the
Ethereum Virtual Machine. The blockcain in ethereum is used not to store the data of
the transaction but to make sure smooth run of a decentralized application.
Ripple – Ripple is more in the nature of a payment protocol created and developed by a
company named Ripple, which is based on the concept of Real time Gross Settlement.
It was initially released in the year 2012.
NEM – Similar to bitcoin, NEM is also a peer-to-peer blockchain platform launched in
the year 2015. It uses the unique Proof-of-Importance algorithm , a way to validate
transactions and achieve the distributed consensus.
Litecoin – Initially introduced in the year 2011, litecoin is mostly identical to bitcoin.
What makes it stand out is the use of Segregated Witness and the Lightning Network.
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24. CONCLUSION
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Bitcoin is a unique creation of value that has
been changing the way of transacting round
he globe. An industry has grown around
Bitcoins in India- traders, exchanges and
merchants who accept payments in Bitcoins.
Bitcoins have already gained wide
acceptance around the world. Indi should
also move ahead with Crypto currency.
However, here nee to be a regulatory
mechanism to check on the identify of
Transacting Parties in order to protect the
economic interest and security of nation.
26. THANK YOU !!!
To know more about Bitcoin, you can check
out following websites and apps:
Zebpay Cryptocurrency Exchange App
Bitcoin Map App
Coindesk.com
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