Bitcoin for Social Innovators

BitcoinFor the Social Innovator

John MardlinB.Sc. Math& Eng. Queen’s U.

coinforest.com

TEDxVictoria

mardl.in

@johnmardlin

quora.com/john-jeffrey-mardlin

● Bitcoin v. Financial Status Quo ● How Bitcoin Works ● The Promise of Bitcoin ● The Challenges of Bitcoin ● Beyond Bitcoin

Agenda

Bitcoin is money for the internet.

Financialization

What is Bitcoin, REALLY?

Satoshi NakamotoAn internet creation myth

WalletsThe Bitcoin software

Wallet

Addresses & Transactions

This is a Bitcoin address:

1Kaxcsyj3wUCkffNhfd9pLYB7hmQrFa2iq

This is a Bitcoin address:

1Kaxcsyj3wUCkffNhfd9pLYB7hmQrFa2iq

KyN6RvhWyAzfTtbHAfSrjZYXvsAYnNFa2C4N8n9ttQmrBZxTWP5p

This is its private key:

This is a transaction. Send 5 BTC from 1Fi57hAqyYYwaQVdA7a9qSKfiukBbt31G3 to 1NDpZ2wyFekVezssSXv2tmQgmxco

5.2894 BTC

1Fi57hAqyYYwaQVdA7a9qSKfiukBbt31G3

12t55VJvphiUEGKqqwbd5bGGbnLkbygbV6

Mining

The BlockchainA distributed public ledger

This is a block.

A new block is create every

10 Minutes.

A block contains recent transactions.

Txn f5d8ee…

Txn a0347d...

Txn b73151…

Txn 552c91...

Txn 8cf0cd4…

Txn e541b3...

This is the blockchain.~3

00,0

00

The flow of Bitcoin is publicly visible.

1QHY …

Bg3

137y …

H3M

1aMS …

P3t1PxF…

23z

1PYh …

9NB

1LBE …

KHz

1JdE …

5eu

Bitcoin issuance is fixed.

2009 2041

50%

100%21

02014

(Mil

lio

ns o

f B

itco

ins)

0%

11.5

Getting and using bitcoins.

● ATMs● Online exchanges● Brokerages● In person

Bitcoin price in USD

Bitcoin Price (Log scale)

● Remittance● Microtransaction● Currency freedom● Permissionless● Wealth Distribution● Carbon and Energy● Security

Remittance (Sending money home)

Microtransactions

Currency Freedoms

Permissionless

Unregulated

Transparency

Wealth distribution of Bitcoin

Wealth Distribution of USD

Security challenges

Electricity & Carbon Footprint

Beyond Bitcoin

Peercoin

Auroracoin

Dogecoin

Coinye West

Litecoin , Quarkcoin, Megacoin, Darkcoin, Karmacoin, Unobtanium, Extremecoin, CryptogenicBullion, Earthcoin, Solarcoin, BBQcoin, Flappycoin, Lottocoin, Nyancoin, QQcoin, RonPaulcoin, Joulecoin, AmericanCoin, Galaxycoin, Lebowskis, Lovecoin…

Beyond Currency

Twister

A wave of decentralized apps…

Find out more:

Slides and more links available at coinforest.com/presentation

Sources● Financialization graphic: http://noahpinionblog.blogspot.ca/2013/02/finance-has-always-been-

more-profitable.html● Magic internet money image: http://www.reddit.

com/r/ads/comments/1q1h40/magic_internet_money/● USD Wealth distribution: http://www.forbes.com/sites/moneywisewomen/2012/03/21/average-

america-vs-the-one-percent/● BTC Wealth distribution: https://bitcointalk.org/index.php?topic=316297.0● Map of cryptocurrencies: http://mapofcoins.com/● Bitcoin network hash rate and pricing: https://blockchain.info/charts● Remittance data: http://remittanceprices.worldbank.org/● Inflation data: http://www.economist.com/blogs/graphicdetail/● Mining equipment image: www.gizmodo.com.au/2013/04/digital-drills-the-monster-machines-

that-mine-bitcoin/