Bitcoin Masterclass TechweekNZ v3.1.pptx

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1. B itcoin Webinar and Meetup Techweek NZ - Wellington, New Zealand May 24th, 2024 5pm to 7:30pm NZT Eva Street Pub, 35 Dixon St, Wellington, 6011 Maitland Waters Digital Director @maitlandwaters Web: http://www.symbioagency.com | e: [email protected]

2. Bitcoin Meetup https://bit.ly/4bfIksv Eva Street Pub 35 Dixon Street Wellington, New Zealand Google Meet Link: View details and RSVP https://calendar.app.google/DCrwjvercxdSWEwq7 Welcome Virtual and In-Person

3. Donations and Koha If you received value from this presentation please show your gratitude by sending contributions to: bc1qlmvx9zkk9v358j8fjclylqjx9fpr8d7zusajrs

4. Be Like Water Bruce Lee - “Be like water” https://youtu.be/APx2yFA0-B4?si=xIYYS4H81pWn3QcV

5. Overview Welcome. Introductions and Background Symbio Agency What is Bitcoin Decentralized Innovation History of Bitcoin Bitcoin Mining Basics of #Blockchain Technology Bitcoin Global Reach Alternative Coins Ethereum, Binance, Etc Bitcoin Volitility The Unbanked Population Bitcoin Security and Wallets Private and public keys Wallet types (hardware, software, paper) Best practices for securing your Bitcoin Privacy and Anonymity Bitcoin investing and trading The future of Bitcoin Q & A

6. SYMBIO AGENCY @ TECHWEEK 2024

7. London Digital Strategy 2011 Social Media @ Soho House London 2011 Facebook Megan Mark's (Like button product manager) LinkedIn 77 Agency Symbio Agency Charity Focus

8. New York City

9. Attendees and Participants New Zealand New York Brooklyn Auc kland Sydney Arkansas. USA Atlanta, GA São Paulo Brazil Los Angeles London Kenya Chicago Mumbai India Barcelona Netherlands Dubai Meta Google Faceb ook TVNZ Advertising Agencies Paypal Apple MediaWorks TV Three Stuff Warner Bros Sony Accenture Toyota

10. WHAT IS BITCOIN?

11. What is Bitcoin? “Any sufficiently advanced technology is indistinguishable from magic.” Arthur C. Clarke

12. Fractional Reserve Banking Fr actional reserve banking is a system where banks keep a portion of their customers' deposits in bank accounts, and then lend the remaining funds out or invest them. For example, if a customer deposits $1,000 into a savings account and the bank keeps 10% in reserves, the bank would hold onto $100 and lend out $900.

13. Decentralized Innovation Bitcoin's peer-to-peer (P2P) system draws inspiration from Napster and BitTorrent in its decentralized structure. Similar to Napster, Bitcoin uses a P2P network to share data between users without a central authority. Additionally, like BitTorrent, Bitcoin employs a distributed approach for sharing and validating transaction data, with each participant (node) in the network contributing to the overall system's security and functionality. This decentralized architecture ensures resilience and prevents any single point of failure or control.

14. Decentralized Innovation Movie files are shared on Bit Torrent as 690mb in size. Compressed from 4.7 GIG to less than 700mb because that the size a movie needs to be to burned to a CD.

15. Why Was Bitcoin Created Bitcoin was created in 2008 by an anonymous person or group called Satoshi Nakamoto to provide an alternative payment system that is not controlled by a central authority. Bitcoin is a virtual currency, or cryptocurrency, that allows people to send money over the internet without the need for a bank or other third party to act as an intermediary. Bitcoin transactions are recorded on a public ledger and cryptographically verified across servers around the world, rather than relying on a central authority.

16. What is Bitcoin? Bitcoin is: A currency A new form of money A payment network Distributed peer 2 peer Blockchain ledger Lives sole ly on the internet Worldwide / Global Almost free Pseudo anonymity Paypal is a payment network Visa / Mastercard / Amex Money is a medium of exchange Third party providers: Banks Credit card processes Remittance provider

17. Bitcoin Market Cap … As of May 13, 2024, Bitcoin's market cap is: $1,215.62 billion , $61,714.57 per BTC. This is an increase from yesterday's market cap of $1,199 trillion and a significant increase from $517.34 billion one year ago.

18. Jack Dorsey (Twitter) on Bitcoin Twitter founder and Block chief executive Jack Dorsey has said he expects the bitcoin price to rocket to $1 million by 2030—which would give bitcoin a market capitalization of $20 trillion—partly driven by Block's bitcoin work. Dorsey said he believed the bitcoin price will grow rapidly due to people and companies working to grow use of bitcoin and improving the "ecosystem." "The most amazing thing about bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves—everyone who puts any effort in to make it better—is making the entire ecosystem better, which makes the price go up," Dorsey said. "It's a fascinating ecosystem and movement, more than anything else. It taught me a lot." ‘Beyond’ $20 Trillion By 2030—Jack Dorsey’s Plan To Turbocharge The Bitcoin Price Source: https://www.forbes.com/sites/digital-assets/2024/05/12/beyond-20-trillion-by-2030-jack-dorseys-plan-to-turbo-charge-the-bitcoin-price/?sh=47bd30ed4b44

19. Bitcoin Supply and Distribution If everybody in the entire world started using bitcoin: Each bitcoin would be divided down to 100/millionth of a Bitcoin = 1 SATOSHI would still be worth less than 1 US penny.

20. HISTORY OF BITCOIN

21. History of Bitcoin Satoshi Nakamoto The inventor of Bitcoin Bitcoin in ci rculation: 18.8 Million Mining Of Bitcoin Bitcoin mining is the process by which new bitcoins are created and transactions are validated on the blockchain. Miners use powerful computers to solve complex mathematical puzzles, securing the network and earning bitcoins as a reward for their work.

22. Satoshi Nakamoto Satoshi Nakamoto is the pseudonymous person or group responsible for creating Bitcoin. In 2008, Nakamoto published a white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" and released the first Bitcoin software in 2009. Despite much speculation, the true identity of Satoshi Nakamoto remains unknown.

23. BITCOIN MINING

24. Bitcoin Mining Bitcoin mining is the network’s method of transaction validation. This process is also how new Bitcoin are added to the existing supply. There are currently around 19.5 million Bitcoin in circulation and the cryptocurrency is programmed to have a total supply of 21 million . The final 1.5 million or so are locked away, waiting for users with powerful computers to release them through Bitcoin mining. Bitcoin mining is like a digital treasure hunt. Armed with powerful computer hardware, miners search for a 64-digit hexadecimal code that validates a block of transactions. This code (also called a hash) is found through a process called hashing. The amount of time varies based on many factors, such as the Bitcoin network’s current mining difficulty. A difficulty adjustment occurs every 2,016 blocks and raises or lowers based on the number of miners contributing. More miners means a higher difficulty, while fewer miners means a lower difficulty.

25. Bitcoin Mining Bitcoin’s creator programmed the network to halve every 210,000 blocks (around every four years) to create digital scarcity. At this rate, Bitcoin won’t hit its 21 million cap until 2140. At that point, miners will still earn rewards through transaction fees but will no longer release new Bitcoin into the network. Each committed Bitcoin block releases 3.125 Bitcoin. To answer the central question in mind, it takes an average of 10 minutes to mine not just 1 Bitcoin but 3 — and that rate will fluctuate over time. But, due to the massive amount of computing power it takes to mine a single block (otherwise known as block time), it’s almost impossible for one miner to receive all 3.125 of the reward.

26. BLOCKCHAIN

27. Blockchain Exp lained Blockchain is a decentralized digital ledger that records transactions across a network of computers. Each transaction is stored in a block, which is linked to the previous block, forming a chain. This creates a transparent and immutable record of transactions. Blockchains use consensus mechanisms to validate and add new blocks, ensuring the integrity and security of the data. This technology has applications beyond cryptocurrencies, including supply chain management, voting systems, and more, due to its transparency, security, and decentralization.

28. Bitcoin Transactions In most cases, Bitcoin transactions cannot be undone once they are confirmed and added to the blockchain. This is because the blockchain's decentralized and immutable nature ensures that once a transaction is recorded, it becomes a permanent part of the ledger. However, in certain circumstances where a transaction is pending and has not yet been confirmed by the network, it may be possible to cancel or replace it with a new transaction with a higher fee. This process is known as transaction acceleration or fee bumping and typically requires the use of specialized wallet software or services. Once a transaction is confirmed and included in a block, it becomes increasingly difficult to reverse, as it would require a majority of the network's computing power to rewrite the entire blockchain history, which is practically infeasible. It's important to double-check transaction details before sending funds, as incorrect transactions cannot be easily reversed.

29. BITCOIN GLOBAL REACH

30. Bitcoin Global Reach Bitcoin's global reach refers to its accessibility and usage across borders and jurisdictions worldwide. Several factors contribute to Bitcoin's global reach: Borderless Nature: Bitcoin operates on a decentralized network that is not controlled by any single entity or government. As a result, it can be sent and received anywhere in the world without restrictions or intermediaries. Internet Connectivity: Bitcoin transactions require an internet connection, making it accessible to anyone with internet access, regardless of their location. This enables individuals in remote or underserved areas to participate in the Bitcoin economy.

31. Bitcoin Global Reach Internet Connectivity: Bitcoin transactions require an internet connection, making it accessible to anyone with internet access, regardless of their location. This enables individuals in remote or underserved areas to participate in the Bitcoin economy. Financial Inclusion: Bitcoin provides financial services to individuals who may not have access to traditional banking services. This includes the unbanked and underbanked populations in developing countries, who can use Bitcoin as a secure and low-cost alternative to traditional banking. Remittances: Bitcoin enables fast and low-cost cross-border remittances, allowing individuals to send money to family members or friends in other countries without relying on expensive money transfer services.

32. Bitcoin Global Reach Investment and Speculation: Bitcoin's global reach extends to investors and speculators worldwide who trade it on various cryptocurrency exchanges. This global market provides liquidity and price discovery, allowing individuals from different countries to buy, sell, and trade Bitcoin easily. Global Recognition: Bitcoin has gained recognition and acceptance as a legitimate form of digital currency worldwide. Businesses, merchants, and individuals in many countries accept Bitcoin as a form of payment, further expanding its global reach and adoption. Bitcoin's decentralized and borderless nature, combined with its utility as a digital currency and investment asset, contribute to its global reach and growing influence in the global economy.

33. NFT ’s NFTs, or Non-Fungible Tokens, are digital assets that represent ownership or proof of authenticity of unique items or content, such as digital art, collectibles, virtual real estate, and more. Unlike cryptocurrencies like Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, NFTs are indivisible and cannot be replicated or exchanged on a like-for-like basis. Each NFT is unique and stored on a blockchain, typically on platforms like Ethereum, ensuring its scarcity, ownership, and authenticity. NFTs have gained popularity in recent years as a way for creators to monetize digital content and for collectors to own rare and unique digital items.

34. Beyond Bitcoin There are thousands of cryptocurrencies, commonly referred to as altcoins, besides Bitcoin. Some popular coins include:

35. ALTERNATIVE COINS

36. Alternative Coins There are thousands of cryptocurrencies, commonly referred to as altcoins, besides Bitcoin. Some popular alternatives include: Ethereum (ETH) Binance Coin (BNB) Cardano (ADA) Solana (SOL) Ripple (XRP) Polkadot (DOT) Litecoin (LTC) Chainlink (LINK) Dogecoin (DOGE) Uniswap (UNI) Ethereum (ETH): Known for its smart contract functionality and decentralized applications (DApps).

37. Binance Coin (BNB): Used for transactions on the Binance exchange and other services within the Binance ecosystem. Alternative Coins

38. Cardano (ADA): A blockchain platform known for its focus on security and scalability. Alternative Coins

39. Solana (SOL): A high-performance blockchain known for its fast transaction speeds and low fees. Alternative Coins

40. Ripple (XRP): Designed for fast, low-cost international money transfers. Alternative Coins

41. Polkadot (DOT): A multi-chain blockchain platform that enables interoperability between different blockchains. Alternative Coins

42. Litecoin (LTC): Often referred to as the "silver to Bitcoin's gold," Litecoin is a peer-to-peer cryptocurrency known for faster transaction times. Alternative Coins

43. Chainlink (LINK): A decentralized oracle network that connects smart contracts with real-world data. Alternative Coins

44. Dogecoin (DOGE): Originally created as a joke, Dogecoin has gained popularity as a fun and friendly cryptocurrency. Alternative Coins

45. Uniswap (UNI): A decentralized exchange (DEX) built on the Ethereum blockchain, allowing users to trade various tokens directly. Alternative Coins

46. Bitcoin Volatility Bitcoin's volatility can be attributed to several factors: 1. Limited Supply: Bitcoin has a capped supply of 21 million coins, leading to scarcity and price fluctuations as demand fluctuates. 2. Speculation: Many investors buy and sell Bitcoin based on speculation rather than its inherent value, leading to rapid price swings. 3. Market Sentiment: News events, regulatory developments, and investor sentiment can greatly impact Bitcoin's price, leading to sudden price changes. 4. Lack of Regulation: Bitcoin markets are relatively unregulated compared to traditional financial markets, allowing for greater price volatility. 5. Thin Order Books: Bitcoin's relatively low liquidity compared to traditional assets can lead to large price movements with relatively small buy or sell orders. 6. High Market Concentration: A relatively small number of large holders (whales) can influence the market by buying or selling large amounts of Bitcoin. These factors, combined with Bitcoin's relatively young and evolving market, contribute to its high volatility compared to traditional assets like stocks or bonds.

47. The Unbanked Population Fully 2.5 billion of the world’s adults don’t use formal banks or semiformal microfinance institutions to save or borrow money, our research finds. Nearly 2.2 billion of these unserved adults live in Africa, Asia, Latin America, and the Middle East. Unserved, however, does not mean unservable. The microfinance movement, for example, has long helped expand credit use among the world’s poor—reaching more than 150 million clients in 2008 alone.1

48. BITCOIN WALLETS

49. Basics of using a wallet Introduction : A cryptocurrency wallet is a digital tool used to store, send, and receive cryptocurrencies like Bitcoin. Understanding how to use a wallet is essential for anyone engaging with cryptocurrencies. In this module, we'll cover the basics of using a wallet, including recommendations for the top ten wallets, how to backup and restore your wallet, and the concept of cold storage.

50. How to Choose a Wallet Consider factors like security features, ease of use, compatibility with your desired cryptocurrencies, and community trust. Research user reviews and expert recommendations to make an informed decision.

51. Types of Wallets Hardware Wallets: Physical devices that store your cryptocurrency offline, providing the highest level of security. Software Wallets : Applications or online services that store your cryptocurrency keys on your device or a remote server. Paper Wallets: A printed piece of paper containing your public and private keys for cold storage.

52. 10 Best Bitcoin Wallets Coinbase http://coinbase-consumer.sjv.io Ledger https://www.ledger.com/ Exodus Wallet https://www.exodus.com/ Trezor https://trezor.io/ MetaMask https://metamask.io/ Guarda https://guarda.com/ Crypto.com DeFi Wallet https://crypto.com/defi-wallet Trust Wallet https://trustwallet.com/ ZenGo https://zengo.com/ Source: https://coinledger.io/tools/best-crypto-wallet

53. Download From Google / Apple

54. How to Backup and Restore a Wallet Backup : Follow the wallet's instructions to backup your seed phrase or private keys securely. Store this backup in a safe place, preferably offline. Restore : In case of wallet loss or device damage, use the backup seed phrase or private keys to restore your wallet on a new device.

55. Bitcoin Cold Storage Cold storage refers to storing cryptocurrency offline, away from internet connectivity, to minimize the risk of hacking or unauthorized access. Hardware wallets and paper wallets are popular forms of cold storage. Follow proper procedures for generating and securing your cold storage wallet to ensure maximum security.

56. Using a Wallet Summary Conclusion : Understanding the basics of using a cryptocurrency wallet is crucial for safely managing your digital assets. By choosing a reliable wallet, backing up and restoring it securely, and considering cold storage options, you can enhance the security of your cryptocurrency holdings and engage with the crypto space with confidence.

57. SECURITY AND BITCOIN

58. Bitcoin and Security Security in the context of Bitcoin refers to the protection of funds and transactions from unauthorized access, manipulation, or theft. There are several key aspects to Bitcoin security: Cryptographic Security: Bitcoin transactions are secured using cryptographic techniques. Each user has a pair of cryptographic keys: a public key (wallet address) and a private key. Transactions are signed with the private key, which can only be accessed by the owner, ensuring that only the rightful owner can spend their bitcoins. Decentralization: Bitcoin operates on a decentralized network of nodes, making it resistant to single points of failure or attack. This decentralization enhances security by distributing control and responsibility across the network.

59. Bitcoin and Security Immutable Ledger: The blockchain, Bitcoin's public ledger, records all transactions in a tamper-resistant and immutable manner. Once a transaction is confirmed and added to the blockchain, it becomes virtually impossible to alter or reverse, providing a transparent and secure record of transactions. Network Security: Bitcoin's security is maintained by a network of miners who validate transactions and secure the network through the process of mining. Miners compete to solve complex mathematical puzzles to add new blocks to the blockchain, ensuring the integrity and security of the network. Wallet Security: Users must secure their private keys to prevent unauthorized access to their funds. This can be done through hardware wallets, software wallets with strong encryption, and following best practices such as using multi-signature wallets and storing backups securely.

60. Bitcoin and Security Bitcoin's security is maintained through a combination of cryptographic techniques, decentralized network architecture, and consensus mechanisms, making it one of the most secure forms of digital currency available. However, users must remain vigilant and take appropriate measures to protect their funds and personal information.

61. Bitcoin ATM - City Stop

62. Trade Crypto on an Exchange

63. Receive and Send Bitcoin

64. Receive and Send Bitcoin

65. BITCOIN PRIVACY AND ANONYMITY

66. Privacy and Anonymity Bitcoin (BTC) Add More Privacy Features? One of the most touted features of Bitcoin is its anonymity. While all transactions and portfolios are publicly available, users can hide behind wallet addresses. Additionally, with no centralized entity behind the technology, there is no single party with the ability to view data for individuals or be hacked. However, according to infamous whistleblower Edward Snowden, Bitcoin is still not private enough. "I’ve been warning Bitcoin developers for ten years that privacy needs to be provided for at the protocol level. This is the final warning. The clock is ticking," Snowden wrote in a post on X.

67. Privacy and Anonymity Bitcoin provides a degree of privacy but not complete anonymity. While transactions are recorded on a public ledger, they don't reveal personal information. However, addresses can be traced, potentially compromising user privacy. Techniques like coin mixing and using multiple addresses can enhance privacy, but true anonymity requires additional tools like privacy-focused cryptocurrencies or services.

68. BITCOIN TRADING AND INVESTING

69. Bitcoin Transactions Bitcoin transactions are not encrypted in the traditional sense. Instead, they are recorded on a public ledger called the blockchain, where each transaction is verified and stored in a transparent and tamper-resistant manner. However, certain aspects of Bitcoin transactions, such as the use of cryptographic signatures and hash functions, provide security and privacy protections. While Bitcoin itself isn't encrypted, users can employ encryption techniques to secure their wallets and transactions, such as encrypting their private keys or using encrypted communication channels when conducting transactions.

70. The Unbanked Population Fully 2.5 billion of the world’s adults don’t use formal banks or semiformal microfinance institutions to save or borrow money, our research finds. Nearly 2.2 billion of these unserved adults live in Africa, Asia, Latin America, and the Middle East. Unserved, however, does not mean unservable. The microfinance movement, for example, has long helped expand credit use among the world’s poor—reaching more than 150 million clients in 2008 alone.1

71. Bitcoin Investing

72. Bitcoin Trading and Investing Bitcoin to Reach $420K by Decade's End, Says Ric Edelman Ric Edelman, founder of Edelman Financial Engines, forecasts bitcoin will reach $420,000 by the decade’s end. He explained that if 1% of the world’s $738 trillion in financial assets were allocated to bitcoin, it would result in $7.4 trillion in inflows, raising bitcoin’s price to $420,000.

73. THE FUTURE OF BITCOIN

74. The Future of Bitcoin The future of Bitcoin is uncertain but promising. As adoption increases, Bitcoin could become more widely accepted as a store of value and medium of exchange. Technological advancements may address scalability and privacy concerns, while regulatory clarity could further legitimize its use. However, challenges like competition from other cryptocurrencies and potential regulatory hurdles remain. Overall, Bitcoin's future depends on continued innovation, adoption, and adaptation to changing market dynamics.

75. Bitcoin Scams and Warnings Send small amounts before sending large amounts Verify addresses Be aware of phishing scams Never share your passwords Use a VPN

76. The Future of Bitcoin

77. The Future of Bitcoin The Time Is now.

78. Q + A

79. Donations and Koha If you received value from this presentation please show your gratitude by sending contributions to: bc1qlmvx9zkk9v358j8fjclylqjx9fpr8d7zusajrs

80. Event Links Slideshare: https://www.slideshare.net/slideshow/bitcoin-webinar-meetup-techweek24-v2-5-pptx/269178328 LinkedIn: https://bit.ly/4bz4qGl Google Meet: https://calendar.app.google/DCrwjvercxdSWEwq7 Twitter/X: http://www.x.com/maitlandwaters

81. Appendix Appendix

82. SYMBIO AGENCY EXPERIENCE AND EXAMPLES

83. Social Media @ Imagine Gallery NYC Saatchi and Saatchi (Tom Eslinger) Holition Artwork by Alex Grey ( COSM) Russian Chamber of Commerce NYC

84. Michael J Fox Foundation Strategy

85. https://www.slideshare.net/slideshow/uber-cadillac-digital-strategy-detroit-auto-show/78304990 UBER Cadillac Detroit Autoshow

86. GovHack - Eye Test VR Strategy http://bit.ly/psstgovhack2017

87. NZEdge.com / Sweeney Vesty

88. New York Fashion Week

89. Life Education Trust

90. NOW - Phil Keoghan / Amazing Race

91. Annie O Music@ The Standard Hotel

92. TrafficWatch and Rideshare WLG

93. Universal Music Group Player

94. SMWNY - Social Media Week NY

95. Annie O Music @ The Standard Hotel

96. Detroit - Motown Records

97. Lounge Candelas Album (NASA) https://soundcloud.com/h-track/lounge-candelas-2-disc-1?in=ritajoy/sets/francois-k

98. Symbio Experience

99. Vendo Services Http://www.vendoservices.com Bill better, grow more. INTELLIGENT PAYMENTS WITH A HUMAN TOUCH Maximize revenue, minimize chargebacks and fraud, and keep customers coming back. Drive business forward.

100. Payment Processing - Vendo Services Payment processing services to e-commerce merchants, including high-risk merchants. Vendo offer frictionless checkouts to keep consumers happy and capture new business. AI-enabled tools provide smart pricing, simplify checkout, and minimize fraud and risk. Vendo team guide merchants through technical integrations, regulatory compliance, and capturing analytics to optimize their revenue generation and capture.

101. END