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

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”

o n
Ed iti
i te d
Li m
• Transition to GOLD and silver…
Why does gold have value?

i te d
Lim tion
Ed i
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 Money
Products Value
• Why?

FREE!
How to pay
for all my
promises?
Taxes?
How do we pay
our debts?
• Aha!
• Print more, 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 MBAbullCoin.com
Main Reference:

“Bitcoin Explained
in Cartoons”
by David Ledesma

Search for it at

Amazon
Thank you!