Cryptocurrency Advantages and Disadvantages explained in my Youtube channel (YM Notes) Subscribe to my Youtube channel for more videos.

1. CRYPTOCURRENCY

2. CRYPTOCURRENCY
• Cryptocurrency is a digitised asset spread through multiple
computers in a shared network
• The decentralised nature of this network shields them from any
control from government regulatory bodies
• There is no physical coin or bill unless you use a service that
allows you to cash in cryptocurrency for a physical token
• There are more than 4,000 cryptocurrencies in existence as of
January 2021

3. SOME OF THE CRYPTOCURRENCIES
• Litecoin
• Peercoin
• Namecoin
• Ethereum
• Bitcoin and more…

4. CRYPTOCURRENCY VALUES IN RUPEES
• 1 Litecoin = ₹11,647.30
• 1 Peercoin = ₹74.44
• 1 Namecoin = ₹116.57
• 1 Ethereum = ₹1,66,272.59
• 1 Bitcoin = ₹26,62,054.94
• The Supply of Bitcoin Is Limited to 21 Million

5. HISTORY
• Many investors consider bitcoin to be the original
cryptocurrency
• Founded in 2009 by a programmer (or, possibly, a
group of programmers) under the pseudonym Satoshi
Nakamoto
• Bitcoin ushered in a new age of blockchain technology
and decentralized digital currencies

6. BLOCKCHAIN TECHNOLOGY
• Blockchain is Secured and Protected with highly
Cryptographic Encryption, that provide very high level
of Encryption
• Blockchain is essentially a digital ledger of
transactions that is duplicated and distributed across
the entire network of computer systems on the
blockchain

7. DIGITAL LEDGER
• Blockchain is essentially a digital ledger of
transactions that is duplicated and distributed across
the entire network of computer systems on the
blockchain
• Blockchain is a type of DLT in which transactions are
recorded with an immutable cryptographic signature
called a hash

8. BLOCKCHAIN MINING
• Blockchain mining is used to secure and verify bitcoin
transactions
• Mining involves Blockchain miners who add bitcoin
transaction data to Bitcoin’s global public ledger of past
transactions
Peer to Peer Transactions
• A peer-to-peer money transfer uses a website or app to
transfer funds from one person to another over the
internet or mobile networks

9. REQUIREMENTS AS PER COMPUTER EXPERTS
• Absence of any centralised authority and is maintained
through distributed networks
• The system maintains records of cryptocurrency units
and who owns them
• The system decides whether new units can be created
and in case it does, decided the origin and the
ownership terms

10. CONTINUED…
• Ownership of cryptocurrency units can be proved
exclusively cryptographically
• The system allows transactions to be performed in
which ownership of the cryptographic units is changed

11. ADVANTAGES
• Funds transfer between two parties will be easy
without the need of third party like credit/debit cards
or banks
• It is a cheaper alternative compared to other online
transactions
• Payments are safe and secured and offer an
unprecedented level of anonymity

12. CONTINUED…
• Modern cryptocurrency systems come with a user
“wallet” or account address which is accessible only by
a public key and pirate key. The private key is only
know to the owner of the wallet
• Funds transfer are completed with minimal processing
fees

13. DISADVANTAGES
• The almost hidden nature of cryptocurrency
transactions makes them easy to be the focus of
illegal activities such as money laundering, tax-
evasion and possibly even terror-financing
• Payments are not irreversible
• Cryptocurrencies are not accepted everywhere and
have limited value elsewhere

14. CONTINUED…
• There is concern that cryptocurrencies like Bitcoin are not
rooted in any material goods
• Some research, however, has identified that the cost of
producing a Bitcoin, which requires an increasingly large
amount of energy, is directly related to its market price
• Require high level system
• Carbon emissions

15. DIFF BTW BITCOIN & TRADITIONAL
PAYMENT

19. BITCOIN LEGALISED COUNTRY
• El Salvador became the first country in the world to
officially classify Bitcoin as a legal currency
• Tradition Economy of El-Salvador is begging for US doller
inflation
• It receives huge remittance from it’s diasphora, 20% GDP
dependence on it’s remittence
• By adopting the bitcoin, Govt of El-Salvador is looking to
bring down the transaction cost when it sending
remittence back home

20. “
”
யாதனின் யாதனின் நீங்கியான் ந ாதல்
அதனின் அதனின் இலன்
எந்த எந்தப் ப ாருள்களின் நேல் விருப் ம் இல்லாதவனாய் விலகுகிறாநனா
அவன் அந்த அந்த ப ாருள்களால் துன் ப் டோட்டான்.
Whatever thing, a man has renounced, by that thing; he cannot
suffer pain.

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