Innovative Business Solutions - A New Way to Bank by Wences Casares
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A new way to bank
Transcript of Innovative Business Solutions - A New Way to Bank by Wences Casares
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
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@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
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The history of moneyLOCALLY
TRANSFERABLE CREDITCREDIT
25,000 years
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Qualities of sound money
Scarce Divisible Portable Durable FungibleRecognizable
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Functions of sound money
Scarce Divisible Portable Durable FungibleRecognizableScarce
Store of Value Payment Mechanism
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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
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Qualities of sound money
Scarce Divisible Portable Durable FungibleRecognizable
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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
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2 FUNCTIONS OF MONEY
STORE OF VALUE PAYMENT MECHANISM
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STORE OF VALUE
SAVINGS
GOLD
FOR 5,000YEARS
BITCOIN
BEST STORE OF VALUE EVER: SCARCITY (21M)
NOW
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PAYMENT MECHANISM
BANKPAYPAL
CREDITCARDS
OTHERS
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PAYMENT MECHANISM
REAL TIME
FREE
ANYWHERE
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BITCOIN NETWORK EFFECTS
50% 50%
2014
All othercryptocurrencies Bitcoinvs.
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BITCOIN NETWORK EFFECTS
50% 50%
20142015
All othercryptocurrencies Bitcoinvs. Bitcoinvs.
4%96%
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2015
BITCOIN NETWORK EFFECTS
In five years…
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THE GLOBAL NATIVE DIGITAL CURRENCY OF THE INTERNET
META-CURRENCY
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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
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1% INVESTMENT FOR X4000 RETURN
1%
x40your entireportfolio
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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
