Bitcoin: Free Money Roger Ver. Why Bitcoin? “For the first time in the history of the world, anyone can now send or receive any amount of money with anyone.

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Presentation transcript:

Bitcoin: Free Money Roger Ver

Why Bitcoin? “For the first time in the history of the world, anyone can now send or receive any amount of money with anyone else, anywhere, instantly, basically for free, and it is impossible for anyone, including governments, to stop them. ”

Good Money

How? BlockchainProtocolClient Open and decentralised network Open code and transparent protocol Public record of all transactions

Bitcoin in 5 minutes 1. Get a wallet 2. Buy bitcoins 3. Spend bitcoins

Wallets

Be safe! Bitcoin gives you unprecedented control over your money. That is a great responsibility. -Keep your private keys safe -Make backups -Hold your bitcoins yourself! -Be careful who you trust with your bitcoins

Regulation Regulation of exchanges Acceptance of protocol Currency, digital commodity, or prepaid instrument?

Growth: Users

Growth: Price

Growth: Transactions

Growth: Merchants

Valuing Bitcoin Amazon Amazon grosses $38 billion per year. Assuming a 3% transaction fee, Amazon pays $1 billion a year in transactions fees. Amazon nets $1 billion per year. Amazon could double their profits by doing all transactions in Bitcoin. If the market cap for bitcoin was $38 billion, each bitcoin would be worth $5,400.

Valuing Bitcoin Gambling The online poker market is $4.8 billion a year industry. Online gambling will follow poker and is a $30 billion a year industry If the market cap for bitcoin was $30 billion, each bitcoin would be worth $4,300.

Valuing Bitcoin International Remittance International remittance is the transfer of money by a foreign worker to their home country. In 2007, remittance worldwide transferred $300 billion dollars. Western Union fees for remittance can run from about 4 percent to 20 percent or more. If the market cap for Bitcoin was $300 billion, each bitcoin would be worth $42,000.

Valuing Bitcoin Amazon = $5,400 Gambling = $4,300 International Remittance = $42,000 Bitcoin adoption world wide = ??????

Valuing Bitcoin

Payment network

Markets

Exchanges: post Gox Transparency - External Audits Proof of reserves - No fractional reserve P2P Exchanges …distributed exchanges coming in 2015!

Ecosystem 1. Protocol & client 2. Blockchain & miners 3. Exchanges 4. Payment processors 5. Applications 6. DACs & other promises

coinmarketcap.com Cryptocurrencies

Startups I angel.co/bitcoin

Startups II

ATMs

Bank integration

Mobile

Main Street

Remittances

Philanthropy

Micropayments

PayPal

Games

E-Sports

History

Financial Markets 2013 Bitcoin CFDs 2014 Bitcoin Derivatives 2015 Bitcoin ETFs 2016 ??

Financial Markets 2.0 P2P Currency P2P Payments P2P Lending (beta) P2P Markets (beta) P2P Funding (beta) P2P Contracts 2015 P2P Law ?