Bitcoin 101Sean Percival@percival

What is Bitcoin?

Bitcoin is decentralized digital currency.

Benefits:

No Banks orCentral Authority

Securityand Control

Payment freedomand efficiency.

How did it all start?

Satoshi Nakamoto

• 2008 White paper is posted• 2009 Bitcoin client released• 2009 Genesis block mined• 2010 The 10K BTC Pizza• 2011 Bitcoin goes mainstream• 2012 Wordpress takes BTC• 2013 Market cap passed $1B• 2014 IRS First Guidance

USD Value Over Time

Peaked ~$1150

The Important Stuff

BlockchainThe public ledger that records all Bitcoin transactions and block generation data.

MiningMining helps to support the Bitcoin network and verify transactions.

ExchangeA way to convert FIAT into Bitcoin or other digital currencies.

Understanding Addresses and KeysA Bitcoin public address is a random string of 34 characters that contains both letters and numbers. Addresses are case sensitive and serve as unique identifiers for sending Bitcoin. Think of it like an email address. Safe to share.

Sample Bitcoin Address:3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy

A Bitcoin private key is the secret numbers used to allow Bitcoin to be spent from a Bitcoin address. It can also be used to import Bitcoin into a new wallet. Never tell anyone your password or private keys.

Sample Private Key:E9 87 3D 79 C6 D8 7D C0 FB 6A 57 78 63 33 89 F4 45 32 13 30 3D A6 1F 20 BD 67 FC 23 3A A3 32 62

Sample Wallet Import Key:5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF

Tools of the Trade

Wallets News and Market

Payment Processing Using Bitcoin

Getting Started Websites

•weusecoins.com•bitcoin.org•spendbitcoins.com