Touch upon the beginnings of bitcoin. Move onto the dark market era of bitcoin and finish it off with a technical talk of bitcoin.

1. Bitcoin & Darknet Markets

3. 2008
Bitcoin.org is
registered, anon

4. Genesis Block!!!1 Jan 3 2009

5. 2009 first btc wallet + first
transaction is done.

6. First real world transaction occurs. 10,000 BTC for a pizza. At the time worth 25$. Now worth
10,060,000 $
delicious
2010

7. Mid 201010x price increase, MT.GOX arises

8. 2010 First mining pool
The ‘authorities’ take notice and issue first
ever warning against bitcoin
1 million USD market cap: amount of bitcoins
in circulation x price of 1 bitcoin
.50 USD for 1 bitcoin

9. Keanu Reeves

10. “You take the red pill, you stay in
Wonderland, and I show you how deep the
rabbit hole goes." - Morpheus to Neo
2011

11. 2011 Silk road opens its doors

12. TOR - onion network
http://zqktlwi4fecvo6ri.onion

15. *Review system
*Referrals both
vendors and
buyers

16. Escrow & bitcoin
approximately 1,229,465
transactions completed on the site
Total sales: 9,608,000,000 USD
Commisions:620,300,000 USD
Until 2013...
How is bitcoin used in the
darknet? + PGP

17. :(

18. Ross Ulbricht is charged with money laundering, computer hacking,
conspiracy to traffic narcotics.
Gets life in prison without the possibility of parole.

20. Other darknet markets

21. 2012 Bitcoin price increases from around 5$ to ~15$

22. 2013
FBI seize btc from silk road
Overstock

23. 2013 - 2014

24. 2014
744,408 bitcoins

25. Mark Kapeles apologises
2014
Bitcoin price falls dramatically

26. Positive Use Cases!

27. 2015 Venezuela

28. 2016 Africa

29. Nigeria

30. “Your business IS the tech.”
416 contributors
12947 commits
6561 pull requests
137 contributors
1416 commits
465 pull requests

31. Peer-to-peer Network

32. Peer-to-peer Network

33. The Bitcoin Network

34. Spam & Transaction fees

35. Double Spends

36. The Blockchain

37. The Blockchain

38. Proof of Work
SHA256(SHA256(previous_block | nonce | transactions))
SHA256(“ruben”) ->
b04e95d0b09d1c3846dc2c1df871b44c780a47844534e36cfee5212f181660ae
SHA256(the-bitcoin-whitepaper.pdf) ->
b1674191a88ec5cdd733e4240a81803105dc412d6c6708d53ab94fc248f4f553
Block: 1
Nonce: 2.573.394.689 2 billion, 573 million
00000000839a8e6886ab5951d76f411475428afc90947ee320161bbf18eb6048
“Solve a puzzle”

39. Controlled Supply
21.000.000
Bitcoin

40. Controlled Supply
21.000.000,00000000
Bitcoin

41. Block Reward

42. Proof of Work
Block: 38304
0000000015bb50096055846954f7120e30d6aa2bd5ab8d4a4055ceacc853328a
Block: 40321
000000000dc6640dc016c77c77a052d5c412a56cdd77bdb01909d053cd3311fd
Block: 38304 2010-02-04 21:43:14
Block: 40320 2010-02-14 23:27:53
870279 seconds -> 10 days -> 432 seconds per block

43. Proof of Work
Block: 450000 Difficulty:
392963262344
0000000000000000014083723ed311a461c648068af8cef8a19dcd620c07a20b
Block: 300000 Difficulty:
8000872135
000000000000000082ccf8f1557c5d40b21edabb18d2d691cfbf87118bac7254
Block: 100000 Difficulty:
14484
000000000003ba27aa200b1cecaad478d2b00432346c3f1f3986da1afd33e506
Block: 1 Difficulty: 1
00000000839a8e6886ab5951d76f411475428afc90947ee320161bbf18eb6048

48. Owning your Bitcoins; Private Keys
5KW3g12hpQttWZxzKNkPmJUf54DaeUxXFsp7geC17ucZWHBnEZM
- A really big number
- between 1 and 2^256
115792089237316195423570985008687907852837564279074904382605163141518161494400
^---- ~ 11 with 77 0's .
1000000000000
1000000000
One million -> 1000000

49. Owning your Bitcoins; Wallets

50. Programmable Money: Bitcoin Scripts
outputScript: <publicKey> OP_CHECKSIG
solution: <signature> <publicKey> OP_CHECKSIG = TRUE

51. Bitcoin Scripts: Multi-Signature
2 <publicKey1> <publicKey2> <publicKey3> 3 OP_CHECKMULTISIG
2 of 3

52. Bitcoin Scripts: Locktime
<now + 3 months> OP_CHECKLOCKTIMEVERIFY
<publicKey> OP_CHECKSIG

53. Bitcoin Scripts: MultiSig + Locktime
IF <now + 3 months> OP_CHECKLOCKTIMEVERIFY
<publicKey> OP_CHECKSIG
ELSE
<publicKey1> <publicKey2> OP_CHECKMULTISIG