I have distilled my understanding of Bitcoin in this presentation to help people looking for answers to basic questions. Hopefully, it will lead them to more important and pressing questions.

1. Why Bitcoin
matters?
BITCOIN IS NOT
SOMETHING YOU
BUILD COMPANIES
ON TOP OF. BITCOIN
IS SOMETHING YOU
BUILD ECONOMIES
ON TOP OF -
ANDREAS
ANTONOPOULOS
Vishal Kankani
@kankanivishal

2. Unlearning
No, bitcoin does not have to
destroy fiat money to exist
No, it does not have to
become global currency to
exist
No, it’s only use cases are
not drugs, gambling and
other illegal uses
No, Bitcoin protocol has not
been hacked till date
No, governments cannot
practically shut down Bitcoin
And NO, something
intangible can have value –
social construct – video
game avatars?

3. Deleting Myths…

4. Loading Curiosity…

5. Bitcoin:
Why & What?
◦ Why is Bitcoin revolutionary?
◦ Censorship resistant & Privacy oriented
◦ Enabled pseudonymous transaction of value without a trusted third party[1]
◦ What problem did Bitcoin solve?
◦ Problem of double spending[2] on a network without a trusted third party
Source: https://upload.wikimedia.org/wikipedia/commons/b/bb/1in_god_we_trust.jpg
[1] Trusted Third Parties are Security Holes, Nick Szabo, 2001, https://nakamotoinstitute.org/trusted-third-parties/
[2] Bitcoin: A Peer-to-Peer Electronic Cash System, Satoshi Nakamoto, October 31, 2008, https://nakamotoinstitute.org/bitcoin/

6. Audience, Value and Security
◦ Who can possibly need Bitcoin?
◦ Everyone
◦ What is the fundamental driver of bitcoin’s value?
◦ Trust of users in the Bitcoin protocol which is not centrally controlled
◦ What is it secured by?
◦ The net total honest CPU power of network

7. Security
Network with maximum computational power on Earth with hash rate of approximately 70 TH/s and ever-growing
Source: https://www.blockchain.com/charts/hash-rate?timespan=all&daysAverageString=7

8. Currency use case: Why money?
To trade good and
services
Produced using
time and resources
Are they practically
finite?
Should money be
practically finite?
Create your choice
of money

9. Hyperinflation: Case for
sound money?
"While there can be a number of causes of high inflation, most
hyperinflations have been caused by government budget deficits
financed by money creation. Peter Bernholz analysed 29
hyperinflations and concludes that at least 25 of them have
been caused in this way. A necessary condition for hyperinflation
is the use of paper money, instead of gold or silver coins. Most
hyperinflations in history, with some exceptions, such as the
French hyperinflation of 1789-1796, occurred after the use of
fiat currency became widespread in the late 19th century...“
Source: https://en.wikipedia.org/wiki/Hyperinflation#Causes
Source: https://bitcointalk.org/
Source:
https://www.reddit.com/r/HistoryPorn/comments/5fimet/german_
kids_flying_a_kite_made_of_worthless_money/

10. Opinion –
Characteristics
of sound money
Source: https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1

11. Use cases for Bitcoin
Currency
Store of value
Global remittances
Banking the unbanked:
Financial inclusion
Internet of Things
Current payments
infrastructure needs revamp
to support the imminent IoT
revolution
Control your Own Data
Microsoft is building a digital
decentralized ID (DID) scheme
on Bitcoin – Project ION
Human Rights in
authoritarian regimes
“A lot of the dismissals,
criticisms and attacks on
Bitcoin come from people who
have the luxury of having a
stable financial system.” —
Alex Gladstein, CSO, Human
Rights Foundation
The best part is that we
are just getting started
… Let’s BUIDL together

12. Governmental & Institutional acceptance
What does USA government
think?
US Treasury classified bitcoin as a
convertible decentralized virtual
currency in 2013
CFTC classified bitcoin as a commodity
in September 2015
IRS classifies bitcoin as property for tax
purposes
SEC routinely evaluates proposals for
ETFs
….
…
..
.
Merchant acceptance?
Microsoft, Starbucks, Nordstrom,
Wikipedia, Whole Foods, GameStop,
Crate & Barrel, Barnes & Noble,
Lowe’s, etc. accept bitcoin payments
and the list is growing fast
….
…
..
.
Institutional investments?
CME and CBOE are traditional
exchanges in the US with futures
contracts
VCs, hedge funds, family offices and
investment banks are investing billions
in this ecosystem
….
…
..
.
Technology development by
corporations?
Microsoft is building a digital
decentralized ID (DID) scheme on
Bitcoin – Project ION
Square is funding open source
development on Bitcoin
Facebook is experimenting with its
own currency
…
..
.

13. How will you
uninvent an
invention?
• "Too often we judge other groups by their worst examples while judging ourselves by our
best intentions." - George W Bush
• Be careful if you ONLY compare positives of fiat with current negatives of Bitcoin
• What happened when electricity, automobiles, internet, etc. were invented?
• Bitcoin is more than a currency. Evolve your understanding of what this technology truly is
and its enormous potential in designing our future.
• Bitcoin is a choice – a choice on what our future society should be like. Choose wisely!

14. Risk Considerations
Software bugs Competition Regulatory
issues
Security risks Price volatility Adoption never
happens