DEBRE MARKOS UNIVERSITY

DEPARTMENT OF INFORMATION
TECHNOLOGY
COLLEGE OF
TECHNOLOGY
SEMINAR PROJECT

PROJECT TITLE: - BITCOIN

Name ID-number

1. ALEHEGM MANAYE----------------------------------TER/1302/10
2. AMARE MALEDE---------------------------------------TER/1306/10
3. ALEMAZE ATANEW-----------------------------------TER/1305/10
4. AFOMIA ALEM------------------------------------------TER/1301/10
5. ABSRA KEBRTU----------------------------------------TER/1298/10
6. ABEBA ZELALEM--------------------------------------TER/1413/10

SUBMITED BY: Group One Students

Submission Date 29/10/2013 E.C

Table of Contents
1. overview bitcoin.................................................................................................................................3
1.1. Introduction...............................................................................................................................3
1.2. History....................................................................................................................................3
1.3. create a Bitcoin...........................................................................................................................3
2. Bitcoin's job........................................................................................................................................4
3. Payment method................................................................................................................................5
4. advantage and Disadvantages of bitcoin..........................................................................................7
4.1. advantage....................................................................................................................................7
5. Application of bitcoin........................................................................................................................8
6. Security...............................................................................................................................................9
7. conclusion.........................................................................................................................................10
8. Reference..........................................................................................................................................10
1. overview bitcoin
Bit code uses peer-to-options for the use of central authority or banks to work; Managing transactions and
giving bitscoon is an open source of bitcoin, The design is public, no one has a bitcoin owner or not
control and everyone can participate. Bitchor is a network that enables new payment system and
completely digital money.

1.1.Introduction
Bitucine In 2009, Bitucana in 2009 is a penetrable source software as an identified source
software. The digital currency in the system and the digital currency is also called bitcoin and is
called a virtual currency, electronic cash or encryption. The US Treasury Bitcoin has not been
controlled by one body as a bank that made the Bitcoin's unchic currency. The economic experts
generally do not fit the central meaning of bitcoins created as a prize for paying and subscribe to
payments in the account records. If the individuals called minerals are involved in other currency
charges, products and services in addition to other currency charges, products and services, in the
form of an electronic bitchen on your personal computer, your mobile device or web app You
can send and receive
 1.2.History
The Bitcoin was first mentioned in 2008, published by the Sauthishoo in 2009, a multiple rate of
bits on the Bitcoins have been in 2009, and it is about the artist since the coupon. Before
returning to a US dollar in 2011, a bitcoin price is rapidly and the last half of 2012 and in 2012 -
2013, during the financial crisis during the financial crisis, the Bitcoin 'cost April 10, 2013
arrived in US $ 266 to arrive at $ 266 By the end of 2013, the value of a bitchen was highly on
1135, but some common websites began to receive bitscaons. 2013 Following Norths 2013, on
the following month, Okcupid 2013, Androtock.com. Some non-profit or tigering groups such as
electronic borders

Allow FoarCoin donations. (This organization has continued to accept continuously and
don't have a white paper, and the Bitcoin is also like currency and the power to protect the
Metzdownd.com Cryoomo publishers.

1.3.create a Bitcoin
The concept that is called the "Crypto-currency" of the "crypto-currency" in the Dy of Way, but
rather than a central authority to control cream and transactions. The first Bitcoin List and the
Confirmation of Concerning in 2009, published in the SOUC Misheter, Sauthish Nachado was
published in 2010 and the community has been highly developed with many developers who
work on bitcoin. The identity of Samoshi, often raised inappropriate concerns, many of which
are associated with the misunderstanding of the bitcoin source. Bitcoin Protocol and software are
clearly published and Bitcoin software you can review any developer code around the world or
make their own changes in the world. It was not limited to the changes that you have been
limited to the changes that you have been limited to the presentations of the current developers

As a Bitcoin Creative Pachelor's identity, the current Bitcoin transactions are known as
the Current Bitcoin Transactions in the Digital currency system They added that a bitcoin has
been a digital signature record between the creation of its transactions. The suspension is a
certificate of encryption created in the math-high process. Transactions use software that will
enable the mining coordinates to solve pillars of marketing pilts. In return, a small number of
bitscoins are given in one block. The block chain of the block will prevent experiments to spend
more than once - otherwise digital currency copies and posting. First, Bitcoon's mineral work has
been done on existing computers, then more courses and more speed than the application-based
courses (ASICS) He suffered from minimal electricity use. It is difficult to start the mines to start
the mines of the mines because of this constant improvement. This is a deliberate way of means
to prevent inflammation. Individuals are often worked in the mines of minors and small
organizations that are generally started at the mines of individuals and small organizations that
are generally started by the mines. But now large minerals can spend ten thousand of thousands
on a high performance and special computer. The most prevalent threat of the world is a mining

2. Bitcoin's job
If you can start with Bitcoin, you can start with bitcoin, without the new user. You can open your
friends or explain your addresses to your friends to pay your friends or to pay the opposite. In
fact, this Bitcoin addresses are very similar to how the address works unless only one time used,
is a joint public record that the whole bin is confident of a bitcoin network. All confirmed
transactions are included in the block of the block. In this way, Bitcoin wallet can calculate the
balance of their balance and make it possible for new transactions are actually referring to the
bitcoins. The Bloc chain and sequence of the blog and sequence applies by a corpse.

Transactions - Privacy keys: A transaction is the transmission of the value between

bitcoin wallet in the block channel. Bitcoin wallet used to sign the transactions of the BITCOIN,
which will be transferred from anyone's briefcase in the next 10 minutes, you will be verified by
the network. Process - Divorced Joint Concerning in the Blood chain that is used in the blooded
chain, a divided into the bodies of the network and allows different computers to agree in the
system. To confirm, the transactions must be filled out in the network that violates the strictest
secret rules that violate very strict secret rules. These laws prohibit the previous blocks from
improper blocks because it will cost all blogs. In addition, the mineral creates a competitive
lottery copies that prepares new blocks in the process of a successional chain. In this way, no
individuals cannot control the parts of the blog, or replace the parts of their own expenses.
3. Payment method
Use Bitcoin as an individual: Press the official Bitcoin client on your computer. Find out on
your phone or online to set up Bitcoins, downloading the customer and visit your bill is friendly
to the client, Windows and Linux. Set your wallet: You will have a place where you stay your
digital money as a normal funds. Pocket bags are programs that identify and monitor your digital
currency through your account settings. There are different options based on your interest in your
interest in using Bitcoin

Software wallet: No, in download, you work on third-party service. These walms are made from
your computer, if you have to run environmental blocking your transactions to not know, this
bitcoin is the beginning of the initial wallet. Software wallet include:

Bitgo COINPNK COINJAR COINBAS BlockCae Block PNE Software

Wallet Always available online, perhaps you need to make an account of the one that you have to
do. However, even hardware walms are moderately secure, even though they are compatible with
many mobile phone service providers. Web wallet options include:

Web Wallets: If you want, you can run the file encryption program. Click option "Settings"
"Settings" "Settings" - Advertising Bitcoin, interest in the look of other people involved in other
participants. You can help them with business sites. Additionally, if you sell merchandise or
services, keep your walker safely as a strategy to receive a payment: Now you want to make sure
they have some coins in your bag. Unfortunately, Bitcoin customers who have been
unfortunately, this means anyone who can get it can slide your bitcoin. You can safeguard your
wallet to verify that the newspaper news can be safe. • Putting Bicton can be a minor CPUI, and
all. You could do this on your share desktop, but it is no longer practical. They spend more on
electricity to work the computer than you get. Specificity bitcoin, which is important to visit a
database, Bitcoin, one of the marketlike is. Simply complete marketing in many gestures in the
area where it is changed into Bitcco. You can change cash to Bitco using the same process. Get
a few bitcoin - everything is set, but how can you bring small coins? To increase and destroy
your pocket bag

If the BITCOIN value is provided and the time of a one-time payment (sometimes up to 10
minutes), in mind that all people have the same desire to participate in bitcoin exchanging,
Bitcoin It is a good idea that you are friendly, and work in any advertising materials available to
attract customers and register online with the online bithcoin databases. Exercise Care: Bitcode is
innovative, exciting and diligent. It is also a test and variable. It is important to know that Bitcoin
fees are not refused. Therefore, if you are deceived by someone who tries to exploit double
payments, it will be impossible to recover your money. Try to make a series of security protocols
in each of the bitcoin marketing. If you are going to start to start receiving, BitcoinBox is
basically due to the use of the following client, which is equivalent to the small business
payments for small businesses quickly and a reasonable price. Eblocinine is free and semi-
complex, but no account or setup needs. 114 | PUMs 3.2 BITCOIN A MONEY CARE 3.2
BITCOIN A MONEY TAKS BITCOIN: Bitcoin - Friendly Handlences to make your payment.
There are different bitecoin services to facilitate the transactions and shaped in businesses on the
side of businesses, some have small transaction charges that some have.

Are there any fees included? Confirm all payments: Bitcoin transactions - even "fast"
transactions - even for a few seconds, and can take up to 10 minutes to carry out completely.
During that transaction, the merchant was easy to give the customer "OK" for the client during
the window where the trader still is still diminished. Bitcone itself is what dangerous with the
transaction of the transaction to reduce the possibility of holding the opportunity to reduce the
risk of holding the opportunity to reduce the risk of holding the possibility of holding the
possibility of holding the possibility of holders? How fast are the hops? How is Ever date?

Clear and independent - No one is easily available on the blog creation for all information on the
supply of bitcoin money. If a bithcode is secure, no one or organization cannot control or handle
Bitcoin protocol. This is the main of the Bitcoin mainly independent and predicted. Apply and
Control - Bitcoin users are completely controlling their reaction; Unwanted or unwanted by
merchants that occur with other payment methods

4. advantage and Disadvantages of bitcoin

4.1.advantage
The following are some of the major advantages of using Bitcoin versus other currency systems:
No Third-Party Seizure: Since there are multiple redundant copies of the transactions database,
no one can seize bitcoins. The most someone can do is force the user, by other means, to send the
bitcoins to someone else. This means that governments can’t freeze someone’s wealth, and thus
users of Bitcoins will have complete freedom to do anything they want with their money.

No Taxes: There is no way for a third party to intercept transactions of Bitcoins, and therefore
there is no viable way to implement a Bitcoin taxation system. The only way to pay a tax would
be, if someone voluntarily sends a percentage of the amount being sent as tax.

No Tracking: Unless users publicize their wallet addresses publicly, no one can trace
transactions back to them. No one, other than the wallet owners, will know how many Bitcoins
they have. Even if the wallet address was publicized, a new wallet address can be easily
generated. This greatly increases privacy when compared to traditional currency systems, where
third parties potentially have access to personal financial data.

No Transaction Costs: Sending and receiving Bitcoins requires users to keep the Bitcoin client
running and connected to other nodes. Essentially, by using bitcoins users will be contributing to
the network, and thus sharing the burden of authorizing transactions. Sharing this work greatly
reduces transaction costs, and thus makes transaction costs negligible.

 No Risk of “Charge-backs”: Once Bitcoins are sent, the transaction cannot be reversed.
Since the ownership address of Bitcoins will be changed to the new owner, once it is
changed, it is impossible to revert. Since only the new owner has the associated private
key, only he/she can change ownership of the coins. This ensures that there is no risk
involved when receiving Bitcoins.

 Bitcoins Cannot be Stolen: Bitcoins’ ownership address can only be changed by the
owner. No one can steal Bitcoins unless they have physical access to a user’s computer,
and they send the bitcoins to their account. Unlike conventual currency systems, where
only a few authentication details are required to gain access to finances, this system
requires physical access, which makes it much harder to steal.
5. Application of bitcoin
Bitcode is usually called currency as a currency, but not agrees with financial interpretation. The
economy experts agree that something is worthless, exchange mediation and math unit to qualify
as money. Bitcone is used as exchange as exchange, as exchange is appropriately agreed by one
of these three criteria. (1,000 There is volunteer to receive a calculator in the Bitcoins of
Bitcoins, and the Bitcoin Market is currently used as a calculator of the BITCOINS. Will not be
used. Currently, prices are not called by Bitcoins for people to buy beacons in Bitcoins Chinese
Bitcoin "Basic Mascinity" 5.2 Printing Dynamic Bitcoin has the most variable exchange rate.
Boston University Mark TW Wilms, which is its own and more than seven times ahead and more
than seven journalist and eight times a range of the landscape, the sure value of his long-term
prices while on journalist claims. A small result of the Bitcoin Payment Process on the utility of
the utility of the utility. 5.3 In countries where the national currency of the national curriculums,
are the official currency accounts in countries where there are some argential currency accounts
in 2012 - 2013 during the financial crisis BITCOIN Saving accounts are innocent 5.4 The
purchase of the purchase, including multiple federal bamcoin, and an estimated bubblegin.
Bitcoin Two Leaders of Software Development Gavin can arise and Mike bubbles can occur

Award of awarded Robert Shileu said, "The estimated bubbles showed more
characteristics of the" bitcoin "other way of the bitscoin of Bitcoin and a US auto supervisor
organization of the United States Overant of FINA, a US auto supervisor organization, would
take advantage of investment on Belarkoine, a US auto supervisor organization. Warning against
European Baning Authority: The risk of non-remote investors, such as Wuglnvs, have been
infected with $ 1.5 million private investors.

6. Security
There are two main ways of there Blockchain may be damaged by Bitcoins to add or switch by
fraud. The Bitcoin system protects both Blocked by using both the public enclosures and
divisions: Most of the APCOs and Digital Signatures in Blount in the principle, Alice and Bob
Currently, Alice and Bob Position 100 BitCoins, Bob Corrupt 100 Bitcoin 100 Bitcoin 100
Bitcros, and the names of these people. The Bitcoin Protein protects each transfer by digital
partition private key and prevents the theft of this, only signed rows on my blog is only available.
Eve by adding Eve, Eve, cannot be established, and Eve does not deceive Eve 100 pays for the
cornercoins. At the same time, anyone can verify the Alice's Signature of Alice, so it can be
confirmed to any marketing in Bitcoins for stealing bitscoins. By adding an entry, a Sofain Eve
can buy something that is a proposed Alice, as Alice, pursuant Alice 100 Publishing Bitcoins.
After reading the Sofa, the Eve can improve that blogger - the digital signatures of the Eve or
delete the entrance. The BITCOIN system is first to prevent improvements, not one of my
lockers or blogs, and all the blog must be in three things encryption, A number of Block Hash,
itself, and no number. Only the first two items will always have some number of a solid secret
(e.g., 256 for Sha-256). The number of zero bethma that contains the number of zero bee hez,
which included the recovery number. Because confidential rocks are essentially random, because
only 1,2, then 3, and then 3, and etc. it is not predicting one another. This process is called
minerals. It takes an average of one who have an average of an average of a large number of lead
zeros. Average time to get a business is about ten minutes the number of zeros

Continuously fixes this way, computer hardware will be quick to make a more zeroing
protocol, to make a more zero betological ten minutes to always make a more zero beat.
[Clacated 19] This system protects and has the attacker from improving all the hates from
improved attacks and the blocks after receiving it. If Eve, if he wanted to change, bitcoins 1
bitcons, the sah that you will come in the RecoumPute transaction Blocks should make a chain of
chain. She can do this, but it takes time to ten minutes on average. However, at that time, it will
continue to add the network blocks, and Eve makes it very fast than we can alone. Before the
network of the network, Eve had to reboot all blocks before taking advantage of the network or
by holding at least the network of network miners. To do so, it should be very expensive, and
this can be very expensive, and if the BITCOIN network is adequate, it may be unable to be
inferior. In addition, Eve is more frustrated for the usual amount of money, and the attacker is
unexpectedly that the system is expensive They are more precious and less impossible as attacks,
such as attacks. 6.3 Double-costs of the double-cost bitecoin system is based on a common
problem of a mutual funding and payments. In the computer file, this may not be like that, and
from the printing of the principal, it can destroy the same money by copying the file. With
bitcoin, Eve Disaggies Alice You Alali Look at Bitcoins Alice Alali Look at Eve at First
Bitcoins. In fact, Eve can try to pay many people at one time. But bitcoin can defend that Eve to
pay, Alice, if Alice, Alice Will Wan, Alice Alice Will add to Eve, which adds to Eve, and this
adds to the ten minutes.

7. conclusion
Bitcoins can be helpful to a lot of people. Since they are an international currency, you can use
them in any country without having to convert between currencies. The Blockchain is really
secure and it lets you make sure your money goes to/comes from the right person. People
receiving Bitcoins won't have to pay anything for the transactions, and Bitcoins have a lot of
support. All of these will definitely help Bitcoin get more users, and if everyone uses Bitcoin it
could replace official currencies. Sure, it has some disadvantages, but some of those are because
Bitcoin is a new thing, so as time goes on, they will be less of a problem. The others can easily
be avoided. 

8. Reference

1. https://bitcoin.org/en/
2. http://en.wikipedia.org/wiki/bitcoin# History
3. http://watis.tekary.com/definition/bitcoin-mining
4. https://produts.butterflylabs.com/
5. https://bitcoin.org/en/faq# What-Damage: Offered: of-Bitcoin
6. https://bitcoin.org/en/faq# What-Damaged/en/faq# Visual/en/faq# Visual: The Bibcoe: The
Bibcoine http://en.wikipedia.org/wiki/bitcoin#Conomics
7. http://en.wikipedia.org/wiki/bitcoin# Security