Women in Ecommerce presents: Bitcoin The internet of money
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Transcript of Women in Ecommerce presents: Bitcoin The internet of money
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The Internet of The Internet of MoneyMoney
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What e-mail was to post-
cards, Bitcoin is to cash-
money.
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Bitcoin is Amazing
No Central ownership, authority, or control
Open Source, peer-reviewed
Secure! And we know this.
Push, not “pull” based
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Bitcoin Basics There will only ever be 21 million coins
Divisible! One bitcoin can be divided into 100,000,000 Satoshis
Network maintenance is performed by miners, who are rewarded in Bitcoin
Defines a 'blockchain' the world's distributed asset/ownership ledger
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The Blockchain is Revolutionary A protocol (system) for
allocating scarce resources Has no center, everyone participates
Asserts 'truth' when everyone has an incentive to lie
Manages Scarcity (Domain names, SSL Certificates, Bandwidth Credits, Property Deeds, Identity)
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Why do we need Bitcoin? Cash doesn't work online. Credit cards are inconvenient Transaction fees are too high Micropayments Current systems require too much trust!
Not all good customers are creditworthy.
Underserved Banking clients Globalization
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Traditonal Checkouts vs Bitcoin
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Common Misconceptions
"This 'telephone' has too many shortcomings to be seriously considered as a means of communication.
The device is inherently of no value to us." - Western Union internal memo, 1876.
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Where is this going? Incumbents will compete, and fail. Fast adoption in Remittance markets Innovation without permission Some countries will be forced to embrace a mainstream Bitcoin economy
What Internet was to newspapers, Bitcoin is to banks
Migrations away from Centralized Databases
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How to get started Create a Coinbase account and buy some bitcoins
Create a Blockchain.info wallet and install the app on your phone
Accept Bitcoin from peers and clients.
Pro-actively offer to pay vendors in Bitcoin in person and online!
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Bitcoin is real, and here to stay!
“Bitcoin is a technological tour de force.” - Eric Schmidt (Google)
“The smartest guys in the room have all turned their attention to Bitcoin.” - Michael Novogratz (Former Goldman Sachs Partner)
“We believe that Bitcoin represents something fundamental and powerful. , an open and distributed Internet peer to peer protocol for transferring purchasing power ” - Fred Wilson, VC (AirBNB, Twitter, Foursquare, Etsy)
“Bitcoin offers a sweeping vista of opportunity to reimagine how the financial system can and should work in the Internet era, and a catalyst to reshape that system in ways that are more powerful for individuals and businesses alike.” - Marc Andreessen, VC (Groupon, Skype, Instagram, Zynga)
“Over the Next 5 Years I Think Digital Money Will Catch On” - Bill Gates (Microsoft)
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Come to a meetup. Get excited.
The Future of Money is coming.
bitcoinfl.org