A new way to bank

@wences@wences

When the Genius points at the Moon

Chinese proverb

@wences

@wences

When the Genius points at the Moon,the Fool looks at the Finger

@wences

@wences

regulation

security

legal

realtrend

malleability

money

value ??

?

?

?

Bitcoindiscussion

When the Genius points at the Moon,the Fool looks at the Finger

@wences

@wences@wences

When the Genius points at the Moon,

regulation

security

legal

realtrend

malleability

money

valuebitcoin

Bitcoin discussion The best form

of money civilization

has ever seen

The best form of money civilization

has ever seen

... doing to money what TCP/IP did to information

the Fool looks at the Finger

@wences

@wences

CREDIT

The history of money100,000 years ago

25,000 years

@wences

The history of moneyLOCALLY

TRANSFERABLE CREDITCREDIT

25,000 years

@wences

Qualities of sound money

Scarce Divisible Portable Durable FungibleRecognizable

@wences

Functions of sound money

Scarce Divisible Portable Durable FungibleRecognizableScarce

Store of Value Payment Mechanism

@wences

CREDIT

The history of money

25,000 years 5,000 years

LOCALLYTRANSFERABLE CREDIT

UNIVERSALLYTRANSFERABLE CREDIT

@wences

The history of moneyLOCALLY

TRANSFERABLE CREDITUNIVERSALLY

TRANSFERABLE CREDIT

25,000 years 5,000 years5,000 years

@wences

1450 1530 1640 1720 1815 1920 NOW

The history of moneyLOCALLY

TRANSFERABLE CREDITUNIVERSALLY

TRANSFERABLE CREDIT

5,000 years

@wences

Three myths about money

1

BARTERit is born out ofit is transferable

BACKEDby an asset

2

it is just aGOVERNMENTSPONSORED

exists because it is

3

it exists because of a

@wences

Qualities of sound money

Scarce Divisible Portable Durable FungibleRecognizable

@wences

WHAT MAKES BITCOIN SPECIAL

SCARCE NO ONE

21MILLION

BITCOIN THE BEST FORM OF MONEY

CONTROLS IT

+ 100,000 servers FREELY TRANSFERABLE

BITCOINWE HAVE EVER SEEN

@wences

2 FUNCTIONS OF MONEY

STORE OF VALUE PAYMENT MECHANISM

@wences

STORE OF VALUE

SAVINGS

GOLD

FOR 5,000YEARS

BITCOIN

BEST STORE OF VALUE EVER: SCARCITY (21M)

NOW

@wences

PAYMENT MECHANISM

BANKPAYPAL

CREDITCARDS

OTHERS

@wences

PAYMENT MECHANISM

REAL TIME

FREE

ANYWHERE

@wences

BITCOIN NETWORK EFFECTS

50% 50%

2014

All othercryptocurrencies Bitcoinvs.

@wences

BITCOIN NETWORK EFFECTS

50% 50%

20142015

All othercryptocurrencies Bitcoinvs. Bitcoinvs.

4%96%

@wences

2015

BITCOIN NETWORK EFFECTS

In five years…

@wences

THE GLOBAL NATIVE DIGITAL CURRENCY OF THE INTERNET

META-CURRENCY

@wences

1 BITCOIN =

$10 $100 $1K $10K

50,000 500,000 5 MILLION 50 MILLION 500 MILLION 5 BILLION

$100K

PEOPLE

MAX VALUE

$ 1 MILLION$ 1 MILLION

@wences

1% INVESTMENT FOR X4000 RETURN

1%

x40your entireportfolio

@wences

Landline phones

vs.

Mobile phones

1.3BILLIONPEOPLE 6.3BILLION

PEOPLE

@wences

1.3BILLIONPEOPLE

Landline phones

vs.

Credit Cards Mobile phones

6.3BILLIONPEOPLE

Transacting Bitcoins

A new way to bank