RAJA BALWANT SINGH

ENGINEERING TECHNICAL CAMPUS

SEMINAR PRESENTATION
ON

BITCOIN
PRESENTED BY:
MANSI SHARMA
1400410019
CONTENTS:
• INTRODUCTION
• WHAT IS CRYPTO CURRENCY?
• WHAT IS BITCOIN?
• WHO CREATED BITCOIN?
• TECHNOLOGY BEHIND BITCOIN
• WHO CONTROLS THE BITCOIN NETWORK?
• HOW IT WORKS?
• POSITIVE IMPLICATIONS
• NEGATIVE IMPLICATIONS
• ACQUIRING, TRANSFERRING AND OWNING BITCOIN
• CONCLUSION
• REFERENCES
INTRODUCTION
 Bitcoin is an innovative payment network and a
new kind of money.
 Bitcoin offers the promise of lower transaction
fees than traditional online payment mechanisms
and is operated by a decentralized authority,
unlike government issued currencies.
 Bitcoin is open-source, its design is public, no one
can owns it but everyone can be a part of it.
 There are no physical Bitcoins, only balances
associated with public and private keys.
WHAT IS CRYPTO CURRENCY?
 Crypto currency is nothing but a digital currency in
which encryption techniques are used to regulate
the generation of units of currency and verify the
transfer of funds.
 Bitcoin is one such example of crypto currency.
WHAT IS BITCOIN?
Bitcoin is a peer-to-peer electronic cash
system.
In simple words, Bitcoin is an encrypted file
that can be stored and transferred easily.
Bitcoin only used for
one time.
WHO CREATED BITCOIN?
 Bitcoin was invented by an unknown person or group
of people under the name Santoshi Nakamoto and
released an open source software in 2009.
TECHNOLOGY BEHIND BITCOIN
• Bitcoin requires Blockchain technology.
• It can never be manipulated and hacked
because of the structure of a Blockchain.
• It is decentralized that no person owns the
blockchain network.
WHO CONTROLS THE BITCOIN
NETWORK?
• Nobody owns the Bitcoin network like no one
owns the technology behind the emails or the
internet.
• Bitcoin transactions are verified by Bitcoin
miners which has an entire industry and
Bitcoin cloud mining option.
HOW IT WORKS?
• From the user perspective, Bitcoin is nothing more
than a mobile app or computer program that
provides a personal Bitcoin wallet and enables a user
to send and receive Bitcoins.
• Bitcoins stores details of every single transaction that
ever happened in the network in a huge version of
general ledger, called the blockchain.
• This ledger contain every transaction ever processed
which enables a user’s computer to verify the validity
of each transaction.
Continued…
You need two things: a bitcoin address and a private key.
• A bitcoin address is generated randomly, and is simply
a 32 character sequence of letters and numbers.

1BWEgGNEj2ED9SyyvXqH3wWiphFMczM1Uy

• The private key is another sequence of letters and

numbers, but unlike your bitcoin address, this is kept
secret.
POSITIVE IMPLICATIONS
• Government across the world have already
stepped in, to regulate trading in bitcoin.
• Bitcoin market cap is very small, even if it
crashed, it would not have a significant impact
on the broader financial markets.
NEGATIVE IMPLICATIONS
• Since bitcoin transfers cannot be traced,
bitcoin is often used to purchase drugs or
stolen goods or finance other types of criminal
activity.
• Bitcoin offers both anonymity and the security
of an electronic transaction. Hence, bitcoin
can become a sub-economy where people
could hide their income and evade
government taxes.
ACQUIRING, TRANSFERING AND
OWNING BITCOIN
• ACQUIRING BITCOINS
Buy on an exchange
Marketplaces called
“bitcoin exchanges”
allow people to buy or
sell bitcoins using
different currencies.
CONT…

• TRANSFERING BITCOINS
People can send
bitcoins to each
other using mobile
apps or their computers.
It’s similar to sending
cash digitally.
 CONT…
• OWNING BITCOINS
Bitcoins are stored in a
“digital wallet,” which exists
either in the cloud or on a
user’s computer. The wallet is
a kind of virtual bank account
that allows users to send or
receive bitcoins, pay for goods
or save their money.
CONCLUSION
• And now the current value of Bitcoin is
1 BTC = 3976.04 US Dollar OR 545366.25
Indian rupee.
• So concluding, Bitcoin future is bright as star
and people can invest at almost no risk.
• “Digital currency is the future, You can’t get
left behind”
REFERENCES
• http://en.wikipedia.org/wiki/Bitcoin
• https://bitcoin.org/en
• https://bitcoin.org/en/how-it-works
• http://bitcoinreport.com
• http://slideshare.com
• http://www.theguardian.com/technology/bitcoin
• W. Dai, "b-money," http://www.weidai.com/bmoney.txt, 1998.
• H. Massias, X.S. Avila, and J.-J. Quisquater, "Design of a secure time
stamping service with minimal trust requirements," In 20th
Symposium on Information Theory in the Benelux, May 1999.
• S. Haber, W.S. Stornetta, "How to time-stamp a digital document,"
In Journal of Cryptology.