What in the world is Bitcoin? [2017]

8d43cdb72e61bf7991f9ceeb08a0b097?s=47 alphydan
October 05, 2017

What in the world is Bitcoin? [2017]

First of the Talking Technology talks on Bitcoin, given on October 2017 in Bermuda.

8d43cdb72e61bf7991f9ceeb08a0b097?s=128

alphydan

October 05, 2017
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Transcript

  1. What in the world is Itcoin ?

  2. Hello! I am Alvaro Feito Boirac, PhD Quantum Physicist, teacher,

    coder, crypto enthusiast
  3. What in the world is Itcoin ?

  4. EASY! It’s internet CASH!

  5. EASY!

  6. EASY! electronic

  7. EASY! electronic pseudo-anonymous

  8. EASY! electronic pseudo-anonymous decentralized

  9. EASY! electronic pseudo-anonymous decentralized Proof-of-work

  10. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based

  11. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  12. Say WAT?

  13. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  14. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  15. > 90%* of fiat money is already electronic (digital)

  16. > 90% of fiat money is already digital*

  17. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  18. EASY! electronic Currency on a MAGIC ledger

  19. EASY! electronic Currency on a SPECIAL ledger

  20. a special ledger BItcoin IS

  21. JOE - 2.2 BTC ALICE - 1 BTC RUNA -

    0.0042 BTC Bitcoin is a LEDGER
  22. JOE - 2.2 BTC ALICE - 1 BTC RUNA -

    0.0042 BTC Bitcoin is a LEDGER 1 BTC
  23. JOE - 2.2 - 1 BTC ALICE - 1 +1

    BTC RUNA - 0.0042 BTC Bitcoin is a LEDGER
  24. Ok, I know ledgers. BUT Where is the ledger? Who

    updates it? Why not write a fake balance? Who issues the BTC?
  25. “THAT’s WHERE THE MAGIC HAPPENS”

  26. 1. Who updates the ledger?

  27. 1. Who updates the ledger? × Central Bank × Bank

    × VISA/W.Union
  28. 1. Who updates the ledger? × CENTRAL × TRUSTED ×

    AUTHORITY × MIDDLEMEN
  29. 1. Who updates the ledger?

  30. 1. Who updates the ledger? × BOOKKEEPERS ARE THOSE WHO

    CHOOSE TO PARTICIPATE
  31. BITCOIN The bank run by YOU!

  32. None
  33. Bill $100 Runa $100 Alice $100 Joe $100

  34. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  35. 1VayNert3x1KzbpzMGt2qdqrAThiRovi8 2 BTC 15JhBLtCWaDqrMrgcyDhu7m62TVZxgrtj8 0.018 BTC 1P9RQEr2XeE3PEb44ZE35sfZRRW1JHU8qx 4,318 BTC 18p9Ftp3m4435tdpZTvoBsm3yjUgkvTF2b

    3.1 BTC 1D5bPm1YAdn9WvAAixht7PbACU3TtkqtJJ 48.5 BTC ...
  36. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  37. Place your screenshot here The LEDGER IS PUBLIC & DISTRIBUTED

  38. 1VayN.. 2 BTC 15JhB.. 0.018 BTC 1P9RQ.. 4,318 BTC 18p9F..

    3.1 BTC 1D5bP.. 48.5 BTC 1VayN.. 2 BTC 15JhB.. 0.018 BTC 1P9RQ.. 4,318 BTC 18p9F.. 3.1 BTC 1D5bP.. 48.5 BTC 1VayN.. 2 BTC 15JhB.. 0.018 BTC 1P9RQ.. 4,318 BTC 18p9F.. 3.1 BTC 1D5bP.. 48.5 BTC 1VayN.. 2 BTC 15JhB.. 0.018 BTC 1P9RQ.. 4,318 BTC 18p9F.. 3.1 BTC 1D5bP.. 48.5 BTC 1VayN.. 2 BTC 15JhB.. 0.018 BTC 1P9RQ.. 4,318 BTC 18p9F.. 3.1 BTC 1D5bP.. 48.5 BTC
  39. How is the LEDGER

  40. None
  41. Peter (1EiwDW9VjTUbLJtuPYUkbj5fJDnc36WKdz) 1mBTC → Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe) Img source

  42. Peter (1EiwDW9VjTUbLJtuPYUkbj5fJDnc36WKdz) 1mBTC → Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe) Img source

  43. Peter (1EiwDW9VjTUbLJtuPYUkbj5fJDnc36WKdz) 1mBTC → Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe) Img source

  44. $8,000,000* in transactions, one bookkeeper gets 12.5 BTC For updating

    “the book” with
  45. None
  46. REAL LIFE BITCOIN “BOOKKEEPERS”

  47. None
  48. Img source

  49. Img source Peter 1EiwDW9VjTUbLJtuPY Ukbj5fJDnc36WKdz BALANCE: 1 BTC

  50. Img source Peter BALANCE: 1 BTC Peter 1 BTC →

    Bob
  51. Img source Peter BALANCE: 1 BTC Peter 1 BTC →

    Allie Peter 1 BTC → Bob
  52. Img source Peter BALANCE: 1 BTC Double Spending

  53. Img source Peter BALANCE: 1 BTC Peter (1EiwDW9VjTUbLJtuPYUkbj5fJDnc36WKdz) 1BTC →

    Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe)
  54. Img source Peter BALANCE: 1 BTC Julia (6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm) 100 BTC

    → Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe)
  55. Img source Peter BALANCE: 1 BTC Who sent WHAT?

  56. Img source MALICIOUS UPDATE

  57. WE MADE IT TO THE HEART OF Itcoin ?

  58. HOW DO YOU UPDATE A TRUSTLESS, DISTRIBUTEd DIGITAL MONEY LEDGER?

  59. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  60. Img source

  61. Img source

  62. Img source SUMMARY BOX

  63. Img source SUMMARY BOX CAPULET My sword, I say.Old Montague

    is come And flourishes hisblade in spite of me. ROMEO Thou villain Capulet!—Hold me not; let me go. LADY MONTAGUE Thou shalt not stir one foot to seek a foe. PRINCE Rebellious subjects, enemies . . . . . . . . . . . Romeo & Juliet in love. Parents don’t approve. Drama ensues.
  64. Img source SUMMARY BOX CAPULET My sword, I say.Old Montague

    is come And flourishes hisblade in spite of me. PETER Thou villain Capulet!—Hold me not; let me go. LADY MONTAGUE Thou shalt not stir one foot to seek a foe. PRINCE Rebellious subjects, enemies . . . . . . . . . . . Peter & Juliet in love. Parents don’t approve. Drama ensues.
  65. Img source MAGIC SUMMARY BOX

  66. Img source MAGIC SUMMARY BOX 730e109bd7a8a32b1cb9d9a09aa2325 d2430587ddbc0c38bad911525 CAPULET My sword,

    I say.Old Montague is come And flourishes hisblade in spite of me. ROMEO Thou villain Capulet!—Hold me not; let me go. LADY MONTAGUE Thou shalt not stir one foot to seek a foe. PRINCE Rebellious subjects, enemies . . . . . . . . . . .
  67. Img source MAGIC SUMMARY BOX 619cba8e8e05826e9b8c519c0a5c68f4 fb653e8a3d8aa04bb2c8cd4c CAPULET My sword,

    I say.Old Montague is come And flourishes hisblade in spite of me. RODEO Thou villain Capulet!—Hold me not; let me go. LADY MONTAGUE Thou shalt not stir one foot to seek a foe. PRINCE Rebellious subjects, enemies . . . . . . . . . . .
  68. MAGIC SUMMARY BOX 6ed0dd02806fa89e25de060c19d3ac8 6cabb87d6a0ddd05c333b84f4 42Gb

  69. MAGIC SUMMARY BOX d14a028c2a3a2bc9476102bb288234c 415a2b01f828ea62ac5b3e42f 42Gb (Add a letter or

    comma)
  70. MAGIC SUMMARY BOX cd6357efdd966de8c0cb2f876cc89ec7 4ce35f0968e11743987084bd42f dog

  71. INPUT d14a028c2a3a2bc9476102bb288234c 415a2b01f828ea62ac5b3e42f GOOD SUMMARY BOX: SAME OUTPUT

  72. sje92na92a3a2bc9476102bb288234c 415a2b01f828ea6fjeni293749 GOOD SUMMARY BOX: IMPOSSIBLE TO REVERSE

  73. sje92na92a3a2bc9476102bb288234c 415a2b01f828ea6fjeni293749 GOOD SUMMARY BOX: Can’T REVERSE (Have to try

    all ) a Aa Aaa Aaaa Aaaaa Aaaaab Aaaaaaa Aaaaaaaa Aaaaaaaaa Aaaaaaaaaa Aaaaaaaaaaa Aaaaaaaaaaaa B Bb Bbb Bbbb Hodll
  74. Img source Julia BALANCE: 100 BTC Julia (6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm) 10 BTC

    → Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe)
  75. Img source Peter BALANCE: 1 BTC Julia (6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm) 100 BTC

    → Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe) SIGNED: 1011010011 1010100100 1001010011
  76. Img source Peter BALANCE: 1 BTC Julia (6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm) 100 BTC

    → Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe) SIGNED: 1011010011 1010100100 1001010011 b2fa3d8e577402cf5654dbf559d89702c33db73667fa38fba4bdebdb924c1fb9
  77. Img source MAGIC VERIFY BOX

  78. Img source MAGIC VERIFY BOX b2fa3d8e577402cf5654dbf559d89702c3 3db73667fa38fba4bdebdb924c1fb9 Julia 6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm

  79. Img source MAGIC VERIFY BOX b2fa3d8e577402cf5654dbf559d89702c3 3db73667fa38fba4bdebdb924c1fb9 Julia 6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm

  80. Img source MAGIC VERIFY BOX b2fa3d8e577402cf5654dbf559d89702c3 3db73667fa38fba4bdebdb924c1fb9 Julia 6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm 100%

    sure JULIA SENT IT.
  81. Img source MAGIC VERIFY BOX b2fa3d8e577402cf5654dbf559d89702c3 3db73667fa38fba4bdebdb924c1fb9 Julia 6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm 100%

    sure JULIA SENT IT. SIGNED: 1011010011 1010100100 1001010011
  82. Img source Julia (6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm) 100 BTC → Allie (1AxZb1Nqh7TPWURjLbDUQsSpUQZnF5cqLe) a34b228a7f67d75f72499cd4b9d52952c8339286ad4f1eae612eb32a9cb3115

    ?
  83. Img source Bank Account #: 6Yr4nT0ppJVSXYPq0PQzSDEfJDnc36SAxm SIGNED: 1011010011 1010100100 1001010011

  84. Img source Public Address: LcHDYmyoBtbzsvgn7Vcsb4fLwr8A9tBkXz Private Key: 6vdoxL5QtZiXQjQ9XZee8U1P3CXUwmzD2RVMWdK6ka6KskCB2MY

  85. Img source Public Address: LcHDYmyoBtbzsvgn7Vcsb4fLwr8A9tBkXz Private Key: 6vdoxL5QtZiXQjQ9XZee8U1P3CXUwmzD2RVMWdK6ka6KskCB2MY Send money

    to X
  86. Img source Public Address: LcHDYmyoBtbzsvgn7Vcsb4fLwr8A9tBkXz Private Key: 6vdoxL5QtZiXQjQ9XZee8U1P3CXUwmzD2RVMWdK6ka6KskCB2MY Send money

    to X
  87. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  88. MAGIC SUMMARY BOX cd6357efdd966de8c0cb2f876cc89ec7 4ce35f0968e11743987084bd42f dog

  89. MAGIC SUMMARY BOX 77af778b51abd4a3c51c5ddd97204a9c 3ae614ebccb75a606c3b6865 cat

  90. MAGIC SUMMARY BOX 589856ec9cedf51a3f0f173465bd499d 73add0cac701f50533fad6b20f3e JOE - 2.1 BTC ALICE

    - 1 .1 BTC RUNA - 0.0042 BTC JANE - 0.0042 BTC WEI - 0.0042 BTC HAL - 0.02 BTC SATO - 0.0032 BTC SHI - 0.0042 BTC JOE - 2.1 BTC ALICE - 1 .1 BTC RUNA - 2.0042 BTC JANE - 1.0042 BTC WEI - 45.02 BTC HAL - 2,000 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC JOE - 0.0001 BTC ALICE - 1 .1 BTC RUNA - 0.0042 BTC JANE - 0.0042 BTC WEI - 0.0042 BTC HAL - 0.0042 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC ALICE - 1 .1 BTC RUNA - 0.0042 BTC JANE - 0.0042 BTC WEI - 0.0042 BTC HAL - 0.0042 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC
  91. Every 10 minutes a new “Summary” is made JOE -

    2.1 BTC ALICE - 1 .1 BTC RUNA - 0.0042 BTC JANE - 0.0042 BTC WEI - 0.0042 BTC HAL - 0.02 BTC SATO - 0.0032 BTC SHI - 0.0042 BTC 77af778b51abd4a3c51c5ddd97204a9c 3ae614ebccb75a606c3b6865
  92. Every 10 minutes a new “Summary” is made JOE -

    2.1 BTC ALICE - 1 .1 BTC RUNA - 0.0042 BTC JANE - 0.0042 BTC WEI - 0.0045 BTC HAL - 0.02 BTC SATO - 0.0032 BTC SHI - 0.0042 BTC 14ba98b40af2a18df3808227ff9332c8 aa98727d3720863df68a413714e
  93. Every 10 minutes a new “Summary” is made ALICE -

    1 .1 BTC RUNA - 0.0042BTC JANE - 0.0042 BTC WEI - 0.0042 BTC HAL - 0.0042 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC 14ba98b40af2a18df38 08227ff9332c8aa9827 39j393j3939d3720863 392jfmeovnmemdi2 39384893jfnjnd393 dae93j3felwknmsef
  94. Every 10 minutes a new “Summary” is made ALICE -

    1 .1 BTC RUNA - 0.0042BTC JANE - 0.0042 BTC WEI - 0.0042 BTC HAL - 0.0042 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC 14ba98b40af2a18df38 08227ff9332c8aa9827 39j393j3939d3720863 392jfmeovnmemdi2 39384893jfnjnd393 dae93j3felwknmsef CAN’T change the past!
  95. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  96. Img source ALICE - 1 .1 BTC RUNA - 0.0042

    BTC JANE - 0.0042 BTC WEI - 0.0042 BTC HAL - 0.0042 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC SHI - 0.0042 BTC BUT What about The PRESENT?
  97. bookeeper

  98. Find a number such that: LEDGER + 1029482 00000000000000000000f0f173465bd 499d73add0cac701f50533fad6b2

  99. Find a number such that: LEDGER + 1029482 00000000000000000000f0f173465bd 499d73add0cac701f50533fad6b2

    12.5
  100. Find a number such that: LEDGER + 1029482 00000000000000000000f0f173465bd 499d73add0cac701f50533fad6b2

    $56,000
  101. Find a number such that: LEDGER + 1 ad6cac701f50533fad6b2f173465bd49 9d73add0cac701f50533fad6b2

  102. Find a number such that: LEDGER + 2 ffc9a7c51991e8b8d8eba3e33714e686 4e6042f0f122b8058a8a1ecb34b6

  103. Find a number such that: LEDGER + 33 09689c1e421bb3ed387425962975352 c93f5ae9f1fbe2859b5e41a80a23

  104. Find all the NUMBERZ !!

  105. Find a number such that: + 1029482 00000000000000000000f0f173465bd 499d73add0cac701f50533fad6b2 $56,000

    ALICE - 1 .1 BTC RUNA - 0.0042 BTC JANE - 0.0042 BTC WEI - 0.0202 BTC HAL - 0.0042 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC
  106. Find a number such that: + 1029482 3dea57ef02538eb4e27b6c52ebf72375 8eddc7c69bb11b1ea8b246fa5d4 ALICE

    - 1 .1 BTC RUNA - 0.0042 BTC JANE - 0.0042 BTC WEI - 0.00 52 BTC HAL - 0.0042 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC
  107. Find a number such that: + 1029482 3dea57ef02538eb4e27b6c52ebf72375 8eddc7c69bb11b1ea8b246fa5d4 ALICE

    - 1 .1 BTC RUNA - 0.0042 BTC JANE - 0.0042 BTC WEI - 0.00 52 BTC HAL - 0.0042 BTC SATO - 0.0042 BTC SHI - 0.0042 BTC Honesty = more profitable
  108. EASY! electronic pseudo-anonymous decentralized Proof-of-work blockchain based crypto-currency

  109. 1st time in History! Global & Trustless money transactions

  110. Christine Lagarde, IMF Chief Not be wise to dismiss virtual

    currencies. virtual currencies might just give existing currencies and monetary policy a run for their money
  111. THANKS! Talk at: bit.ly/Bitcoin56 alvaro@feitobros.co

  112. Send $2 to friend in UK 10 minutes, 2 cents

    Send $100 to Bolivia Send $1M to china on Sunday 2h, $10 20 minutes, 10 cents
  113. Pay for coffee 10 minutes, $0.5? Donate to Wikileaks Banking

    for the unbanked 5 minutes, no discrimination
  114. Money for oppressed Worldwide Travel with $5M in your head!

    Hedge for hyperinflation 2h, $10
  115. $70,000,000,000 Market cap $4500/BTC 21,000,000 Total supply

  116. None
  117. Where can you spend it? WordPress.com Overstock.com Subway Microsoft Reddit

    Virgin Galactic OkCupid Namecheap CheapAir.com Expedia.com Gyft Newegg.com Wikipedia Steam The Internet Archive Bitcoin.Travel Pembury Tavern Old Fitzroy Zynga – Mobile gaming Mega.co.nz Etsy Vendors – 93 of them Whole Foods - Real Estate - Computing - Lawyers - Actual Accountants - Darknet ...
  118. None
  119. 500,000 Needed to match the Bitcoin network!

  120. Huge Mining (bookkeeping) operations in CHINA, ICELAND, US

  121. Huge Mining (bookkeeping) operations in CHINA, ICELAND, US

  122. BLOCKCHAIN Contains all balances & all transactions done since 2009.

  123. None
  124. None
  125. Money https://www.federalreserve.gov/releases/h6/current/default.htm https://courses.lumenlearning.com/boundless-economics/chapter/introducing-money/ https://www.quora.com/What-percentage-of-the-worlds-money-is-printed-in-cash-bills-coins http://www.marketwatch.com/story/this-is-how-much-money-exists-in-the-entire-world-in-one-cha rt-2015-12-18 http://www.investopedia.com/tech/how-much-worlds-money-bitcoin/ https://coinmarketcap.com/

  126. Blockchain https://bitcoinstrings.com/ (messages on the blockchain) https://cointelegraph.com/news/active-bitcoin-wallets-number-has-grown-four-fold-over-five-years -study https://anders.com/blockchain/