1. Bitcoin ฿

2. History of Money

3. Barter

4. Goods *BECOME* Money Acceptable Durable Portable Scarce Divisible Recognizable

5. Gold Storage -> Paper Receipts England, 17 th Century Safety for travelers Charles I’s Royal Mint loan (1640) Goldsmiths Fungibility Lending

6. Bank of England Gold Receipts

7. 1:1 -> 1:2 -> 1:10

10. Bank Runs

11. Government Takes Over Banking

12. 1:1 -> 1:2 -> 1:10 1694 – Bank of England Monopoly 1913 – US Federal Reserve Monopoly

13. 1:1 -> 1:2 -> 1:10

14. 1971 – Executive Order 11615

16. Who Will be the Aristocrats? Producers vs Central Bank Cronies Bad Money -> Bad Culture

17. Ancient Rome 27AD – Augustus – Denarius 95% Silver 45 coins / pound Gold 27AD – Augustus – Denarius 95% Silver 45 coins / pound Gold 117AD – Trajan – Denarius 85% Silver 180AD – Marcus Aurelius – Danarius 75% Silver 200AD – Septimius – Denarius 60% Silver 230AD – 72 coins / pound Gold 300AD – Diocletian – Argenteus Silver Coin 60 coins / pound Gold 330AD – Constantine – 72 coins / pound Gold 210AD – Caracalla – Denarius 50% Silver 50 coins / pound Gold 268 AD – Denarius 0.5% Silver 268 AD – Denarius 0.5% Silver Same idea, different technology.

18. Ancient China -7 th Century (Tang Dynasty). Merchant receipts of deposit during. -13 th Century (Yuan Dynasty). Marco Polo: "How the Great Kaan Causeth the Bark of Trees, Made into Something Like Paper, to Pass for Money All Over his Country."

19. Enforcing Government Money

24. Money Wasn’t Always Government Issued

25. Multiple Currencies – No Problem

26. Electronic Money EGold -- 1996 to 2009 $2 billion transactions / year (2008) Liberty Reserve -- 2006 to 2013 “Liberty Dollars” “Liberty Euros” ~ $0.9 billion transactions /year Also, Goldmoney.com, e-Bullion.com, CrowneGold.com, Pecunix.com, INTgold.com.

27. Peer to Peer

29. Decentralization & the Distributed Consensus Problem

30. 2008 – Satoshi’s Paper

31. History & $ Price of 1 Bitcoin Oct 2008: Satoshi Paper Jan 2009: First wallets begin working Oct 2009: $1 = 1,309.03 BTC May 2010: Pizza sells for 10,000 Btc July 2010: MtGox Established July-Nov 2011: $32 -> $2 March 2013: Cyprus Crisis. $40 -> $260 -> $90 -> $120 May 2013: Forbes “Living On Bitcoin For A Week“ May 2013: First major VC investment in Bitcoin companies July 2013: Bitcoin Fund Oct 2013: Silk Road Shutdown Oct-Nov 2013: Chinese Demand. $120 -> $1200 -> $800 Dec 2013: China restricts banks from using Bitcoin Jan 2014: BitInstant CEO arrested Feb 2014: Apple Bans Bitcoin Apps Jun 2014: Apple allows Bitcoin Apps June 2014: Mt Gox Bankruptcy Sept 2014: Overstock.com accepts Btc

32. Market Capitalization Euro (M2): $16 Trillion Dollar (M2): $14 Trillion Ukraine (M2): $95 Billon Mongolia (M2): $5.1 Billion Georgia (M2): $4.8 Billion Bitcoin:$4.5 Billion Moldova (M2): $3.9 Billion Armenia (M2):$3.3 Billion Litecoin:$125 Million Sao Tome & Principe: $100Million

33. Bitcoins in the World

34. Bitcoin Bars

35. Kreuzberg, Berlin http://bitcoinsinberlin.com

36. New York Open Air Bitcoin Exchange

39. A taxi in Kenya

43. Bctip.org

44. Bitcoin ATM in Kyiv

47. Where to get Bitcoins

48. Bitcoin Technology

49. Send Money Anywhere For FREE Instantly Anonymously*

50. Post Office vs. Email

51. Public Transaction Transactions aren’t actually encoded, in fact, they’re public.

52. Bitcoin Mining Crypto is used to Authenticate transaction – prevent double spending, false ownership.

53. Bitcoin Mining

57. Bitcoin Mining Hash Rate

58. Mining Pools

59. 51% Attack?

60. Alt-Coins

61. “More powerful than the tread of mighty armies is an idea whose time has come.” ~ Victor Hugo

62. ??? vs. Bitcoin Disruptive technology

63. Satoshi’s Motivation? Headline embedded in genesis block: " Chancellor on brink of second bailout for banks " January 3, 2009, Times of London.

64. Other Uses of Decentralized Consensus Technology

65. Types of Bitcoin Businesses - Normal Businesses Adopting New Payment Systems - Merchant Services (BitPay) - Exchanges (Coinbase, BitStamp, Kuna) - Wallet Companies - Consultants - Smart Contract / Digital Property Innovators (Master Coin vs Ethereum) - Miners - Mining equipment manufacturing / sales

66. End. Did you like this lecture? Bitcoin me: 1Hi3ZLNib1Nte2JX7dd3vYAfJqULZLgjKr http://RomanSkaskiw.com/