Bitcoin Explained Main Reference Bitcoin Explained in Cartoons
Bitcoin Explained
Main Reference: “Bitcoin Explained in Cartoons” by David Ledesma Search for it at Amazon
To understand Bitcoin… STOP thinking about confusing words: Bitcoin, cryptocurrencies, blockchain, BLA and others…
“Super simplified” history of money…
• Long ago… No money!
• BUT How?
• So… seashells?
• Eventually…
• Do the sea shells have value in this case?
• Acceptance and agreement between people • Transferability
• When more people “accept and agree” that these seashells are valuable, what happens to the value of seashells?
• But… unlimited seashells at beach • Any problem with that?
• Importance of “scarcity” L e t i im d E d n o iti
• Transition to GOLD and silver…
Why does gold have value? d e t i Lim tion i d E
A Common Belief: “Gold has high value because of electricity, phone parts, etc. ”
How about long ago…?
And why are oil and silver valued less?
• Which one is more limited?
And then…
In the past (USA)…
• Also in the past, in England…
• Basis for value: Gold/silver vs. Government
• Even with some governments TODAY…
• Value of government money Prices of Products Money Value
• Why? FREE!
How to pay for all my promises?
Taxes?
How do we pay our debts?
• Print more, more!
• In some cases, the government might not even keep any gold at all, so…
• When more money is printed for the same amount of products, what happens?
Solution: Keep gold? Maybe. But…
• Gold is not completely limited…
• Transferring gold? • Globally?
• Gold certificates: Transferred online?
• Gold in vaults: safe from governments?
A Possible solution might be Bitcoin • Digital, worldwide • Controlled by governments? Corporations?
• 21 million Bitcoins
• Easy to transfer worldwide?
• Uncontrollable and unstoppable by governments, banks, or corporations?
• “Blockchain” …NOT centralized
• • Blockchain… Independent citizens Work together, but also check each other Why do they do this service?
• NOT physical • Transacted in decimals 0. 1381 0. 00000005 0. 0071 0. 00000001
For further reading • RISKS vs. Reward Investing in Bitcoin? • How to Buy Bitcoin? • Is Bitcoin a SCAM? • What is Bitcoin mining? • Can we have Blockchain Without Bitcoin? • And lots more! Download the FREE cheat-sheet and also YOUR OWN copy of this Powerpoint at MBAbull. Coin. com
Main Reference: “Bitcoin Explained in Cartoons” by David Ledesma Search for it at Amazon
Thank you!
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