Demystifying Bitcoin A Popular Cryptocurrency Training Ppt

Slide 1

This slide states that Bitcoin is a cryptocurrency, or virtual currency, that acts as money and a payment method independent of any one person, organization, or entity, thus eliminating the need for third-party involvement in financial transactions.

Slide 2

This slide is a primer on the history of bitcoin, a global cryptocurrency today. We trace it to Satoshi Nakamoto inventing it in 2008 to its ascendance as the major talking point in financial services market. Overtime, its use has gained currency.

Slide 3

This slide showcases statistics related to bitcoin. Satoshi Nakamoto is the pseudonym of the mysterious person or individuals who invented the bitcoin.

Slide 4

This slide lists four important steps for buying bitcoin. This starts with choosing a cryptocurrency exchange; deciding on a payment option. Then, you place your order, and finally storing your purchased bitcoins.

Slide 5

This slide lists multiple steps involved in selling bitcoin. Starting from the seller giving the buyer an address to the transaction being broadcast over the entire bitcoin network.

Slide 6

This slide states advantages of using bitcoin: Bitcoin transactions are peer-to-peer, anonymous, cannot be reversed, safe and secure, and much more.

Slide 7

This slide describes that while bitcoin technology is primarily safe, there are concerns one should know about before investing. Bitcoin is not anonymous, its prices may be volatile, its extreme dependene on password is inconvenient, and cryptocurrency wallets are vulnerable to theft.

Slide 8

This slide states the carbon footprint resulting from power plants producing the electricity needed to mine a single bitcoin is emerging as a major environmental concern. A single bitcoin transaction consumes 2,292.5 kilowatt-hours of electricity; this can run an average US household for over 78 days.

Slide 9

This slide lists the real world use cases of bitcoin, such as purchasing items, financial services, online trading and medium of exchange.

Instructor Notes:

• Purchasing Items: Bitcoins may be used to buy practically anything and everything (products or services) in the real world, from real estate to fast food. Several firms, like Subway, Microsoft, and Starbucks, accept bitcoins
• Financial Services: Cryptocurrencies may also be used as wallets to store and track money in many currencies. Aside from keeping money, bitcoin may be used to track financial activities and, ensure compliance and lower the risk of fraud or theft
• Online Trading: Online trading platforms allow you to purchase or sell bitcoins, trade these for any denomination, and exchange it for other cryptocurrencies. Investing in bitcoin may be viewed as a great chance to boost the investor's or company's returns