Bitcoin

The new face of entrepreneurship

What is Bitcoin?
Bitcoin is the worlds first : * Digital/Virtual Currency * Open source * Decentralised * Peer to peer value transfer * Payment network.

How Bitcoin came into existence.

* 2008 White paper release. * 2009 First Bitcoin client was downloaded to mine. * 2010 Bitcoins exchanged for pizzas. * 2011 Bitcoin trading at $1. * 2012 Bitcoin business revolution. * 2013 Reached record high of $1100 * 2014 Technology understanding begins

Fundamentals of Bitcoin
Who Controls Bitcoin Network? Users control the Bitcoin network How does Bitcoin work? Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction. How does one acquire Bitcoin? Through sites like Unocoin Why do Bitcoins have value? Bitcoins have value because they are useful as a form of money. Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics. In short, Bitcoin is backed by mathematics What determines the price of Bitcoin? The price of a bitcoin is determined by supply and demand. When demand for bitcoins increases, the price increases, and when demand falls, the price falls. There is only a limited number of bitcoins in circulation and new bitcoins are created at a predictable and decreasing rate, which means that demand must follow this level of inflation to keep the price stable.

Bitcoin as Money
Portability Divisibility Fungibility Durability Finite/Scarcity (Digital Gold) Deflationary nature Non-consumable (no intrinsic value)

Bitcoin as Technology
* PC in 1975, Internet in 1993, Bitcoin in 2014. * Bitcoin backed by advanced cryptography. * Like SMTP and VOIP serves as an open source platform for email and voice call, Bitcoin is MOIP. * Ethereum, emergence of additional layers * Decentralised nature of BTC allows implementation of global stock markets, crowdfunding, lotteries and many such. * Peer to peer lending and peer to peer funding. * Collective computing (like NASA) adds strength. * Deflationary currency. * Globally distributed asset register.

Bitcoin Mining
What is Bitcoin mining?
Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network.

How does Bitcoin mining work?

Anybody can become a Bitcoin miner by running a miner software. Bitcoin miners perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created bitcoins issued into existence according to a fixed formula.

What do I need to start mining?

In the early days of Bitcoin, anyone could find a new block using their computer's CPU. As more and more people started mining, the difficulty of finding new blocks increased greatly to the point where the only cost-effective method of mining

Bitcoin Wallet
What is a Bitcoin wallet?
Bitcoin wallet - send, receive and store your Bitcoins. Exchange - trade of Bitcoins in the local currency. Unocoin - Buying, Selling, Sending, Receiving and Storing

How to use mobile Bitcoin wallets?

Such as Apps.

How to secure your bitcoins?

Various levels of security.

Present options to buy and sell bitcoins?

At present in India, the only platform available is Unocoin.

Crypto Evolution

The future of Bitcoin.

* Crypto currency will be the future not specific to Bitcoin. * Bitcoin will be a major e-commerce driver. * Equal wealth distribution. * Scandinavia adopting Bitcoin/Ekrona at government level. * Each bitcoin potentially can be $70,000 (When BTC market cap reaches 1% of global debt value according to Wiki) * Financial inclusion. * Global trade

Bitcoin Alliance India

To support and empower Bitcoin Entrepreneurs all across India. To lobby the technology with the government and regulating bodies. To help understand the legalities of Bitcoin. To promote and assist with self- regulation to businesses. To create a fraternity to hold together Bitcoiners from across India to build and strengthen the Bitcoin ecosystem. More information can be found on www.bitcoinalliance.in