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    Bit Coin

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    Chetan Deulkar
    Bitcoin is a digital currency that allows online payments between parties without intermediaries. It was created in 2009 and has grown significantly, with over 30,000 merchants now accepting it. While some countries have legal frameworks for Bitcoin, others like China and Bolivia have banned it due to concerns about taxes and regulation. Major Bitcoin exchanges exist in countries like the US, UK, and Singapore. The future of Bitcoin remains uncertain as opinions on it remain mixed.

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    Bit Coin

    Uploaded by

    Chetan Deulkar
    72 views10 pages
    Bitcoin is a digital currency that allows online payments between parties without intermediaries. It was created in 2009 and has grown significantly, with over 30,000 merchants now accepting it. While some countries have legal frameworks for Bitcoin, others like China and Bolivia have banned it due to concerns about taxes and regulation. Major Bitcoin exchanges exist in countries like the US, UK, and Singapore. The future of Bitcoin remains uncertain as opinions on it remain mixed.

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    Bitcoin is a digital currency that allows online payments between parties without intermediaries. It was created in 2009 and has grown significantly, with over 30,000 merchants now accepting it. While some countries have legal frameworks for Bitcoin, others like China and Bolivia have banned it due to concerns about taxes and regulation. Major Bitcoin exchanges exist in countries like the US, UK, and Singapore. The future of Bitcoin remains uncertain as opinions on it remain mixed.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    72 views10 pages

    Bit Coin

    Uploaded by

    Chetan Deulkar
    Bitcoin is a digital currency that allows online payments between parties without intermediaries. It was created in 2009 and has grown significantly, with over 30,000 merchants now accepting it. While some countries have legal frameworks for Bitcoin, others like China and Bolivia have banned it due to concerns about taxes and regulation. Major Bitcoin exchanges exist in countries like the US, UK, and Singapore. The future of Bitcoin remains uncertain as opinions on it remain mixed.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 10

    Bitcoin

    AUGUST 2014

    Nihilent Technologies Private Limited | www.nihilent.com | www.mc3consulting.com | India | USA | UK | Middle East | Africa
    AGENDA

    Bitcoin Introduction

    Market Penetration & Growth Map

    Global Market Scenario

    Exchanges

    Scope of Development in Geographies

    Nihilents Approach

    2
    Introduction

    Bitcoin (BTC) is a peer-to-peer cash payment system. Its a fully implemented crypto-
    currency which allows online payment from one party to another without intervention
    of any third party or financial institutions

    The inception of Bitcoin took place in January 2009

    It is open source and anyone can be a part of it

    Overall 21 million Bitcoins to be issued

    It is the most dominant crypto-currency by far

    Current market capitalization is 6.7 billion USD as of August 2014

    Every transaction made is public and visible to each and every person using Bitcoin
    network

    Managing the transactions and issuance of Bitcoin is carried out collectively by the
    network

    3
    Market Penetration & Growth Map

    Bitcoin acceptance has seen a steep rise in number of merchants who have started
    accepting it.

    In November 2012 the number was around 30 merchants and by June 2014 it is
    recorded to be 30000+ including bigwigs like Virgin Galactic (travel),
    Wordpress.com (web services), Murfie.inc (entertainment), Dell (e-commerce) and
    many other retail chains like Pizza Guys.

    According to Goldman Sachs, in 2013 money transfer fees would have fallen by
    90% if Bitcoin had been used.

    Since its inception in 2009 the prices have surged significantly. Initially, 1 Bitcoin
    was worth US$ 0.01 and currently its price is around US$ 500 (as in August 2014)

    Sources report that around 63000+ businesses now accept Bitcoin including
    Expedia, DISH, Newegg.com

    5.3 million is the total number of Bitcoin wallets downloaded by masses

    4
    5
    Global Market Scenario in different countries

    Countries accepting Bitcoin


    Major economies like UK, US, Australia,
    Japan, Canada, Hong Kong, Germany,
    etc are amongst those which have legal
    framework for Bitcoin acceptance.

    Countries not accepting Bitcoin


    There are economies which are
    currently not accepting Bitcoin like
    Bolivia, Ecuador, Iceland, China. Bolivia
    finds that crypto-currencies will permit
    enterprises to evade taxes also these
    are not regulated so it may pose a risk
    to the economy. Iceland though
    considers Bitcoin as foreign currency
    but take a stand that bitcoins, if mined
    within Icelandic borders could be freely
    traded.

    Countries neutral about Bitcoin


    There are certain economies which are
    taking a neutral stand on Bitcoin.
    Countries like India, Taiwan, Indonesia
    are keeping an eye on this emerging 6
    Bitcoin Exchanges

    Bitcoin exchange is a marketplace where customers can trade Bitcoin for other
    assets such as conventional fiat money. The exchange in turn charge the
    customers to convert their Bitcoins in to other currency. Some of the well
    known exchanges around the world are:

    Coinbase USA

    Cryptsy USA

    Bitstamp UK

    itBit Singapore

    BTC-e Bulgaria

    7
    Bitcoin in News

    Wikipedia reveals that Bitcoin is the 89th most heavily trafficked Wikipedia
    page in last 90 days, as of July 2014

    Google search interest in Bitcoin during Q2 2014 has remained relatively


    constant

    Intellects have mixed opinions of their own

    8
    Future Scope

    9
    Thank You

    Change for Performance

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