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Bitcoin is a revolutionary digital currency option that is better for producers and consumers. Bitcoin is 100% Digital, Distributed, Deflationary, Open Source, Fast, Cheap, International, Secure.
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Bitcoin and the Need for a Digital Currency
John R. Meese
John R. Meese
B.S. EconomicsMiddle Tennessee State University
Lifetime Member: Bitcoin Foundation
www.johnrmeese.com @JohnRMeese
The need for new money
We need money that is both...
Sound and Digital
Depreciation of the US Dollar
Fiat Money
Money without intrinsic value that is declared by government as legal tender.
We live in a digital world
● Business● Communication● News● Social life
● Finance?
U.S. Money Supply
M2= $10,989.2 Billion
Physical Currency= $1,153.3 Billion
Today’s Solution
Bitcoin is…● 100% Digital● Distributed● Deflationary● Open Source● Fast● Cheap● International● Secure
Bitcoin is… 100% Digital
Wallet ID:1FyjGyAPZN58viucU3qgHwwdYgXU5fVw4i
Physical Bitcoins by Casascius
Paper Bitcoin Wallets
Bitcoin is… Distributed
Bitcoin is… Deflationary
Today11,910,025 BTC
In 2140 A.D.20,999,999.9769 BTC
Bitcoin “Mining”❖ Blocks mined
every ~10 minutes
❖ Minors are paid by rewards & fees
❖ Without it network would not function
Bitcoin is… Open-Source
❖ Anyone can view the code
❖ Anyone can update the code
❖ All changes must be accepted by the community
Bitcoin is… Fast
8 times faster than top 500 Supercomputers Combined
Bitcoin is… Cheap
❖ Transactions are FREE
❖ Minimal fees may be added to tip miners
❖ Merchant fees are nonexistent
“Zero” transaction fees
Bitcoin is… International
Bitcoin is… Secure
❖ Public Transactions
❖ Private keys
❖ “Push”-only system
Bitcoin Price History: All Time
Bitcoin Price History: 1 Year
Bitcoin Price History: 6 Months
Market Capitalization
The Demise of the Silk Road❖ Dread Pirate
Roberts arrested
❖ Some dealers tracked down
❖ 515,000 BTC “seized”
The Demise of the Silk Road
Bitcoin Now
● 5 year anniversary
● 1 Bitcoin = $225
● 55,000 transactions per day
● 56% of all Bitcoins have been mined
For more information...
www.johnrmeese.com @JohnRMeese
➢ Visit trybtc.com
➢ Visit blockchain.info
➢ Check out the Bitcoin Magazine