Date post: | 21-Jan-2017 |
Category: |
Business |
Upload: | mecklermedia |
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Why Bitcoin?
“For the first time in the history of the world, anyone can now send or
receive any amount of money with anyone else, anywhere, instantly,
basically for free, and it is impossible for anyone, including governments,
to stop them. ”
How?
Open and decentralised network
Open code and transparent protocol
Public record of all transactions
Blockchain Protocol Client Network
Be safe!
Bitcoin gives you unprecedented control over your money. That is a great responsibility.
-Keep your private keys safe
-Make backups
-Hold your bitcoins yourself!
-Be careful who you trust with your bitcoins
-Multi- Signature
Social Networks
ChangeTip allows 300Mn Twitter users and 1.4Bn Facebook users to instantly send and receive bitcoins.
Financial Markets 2.0P2P Currency P2P Payments P2P Lending P2P Markets P2P Funding (beta)
P2P Contracts (beta)
P2P Law …
Valuing Bitcoin
Amazon
Revenue 2014: $88.9 billion
3% average transaction fee
Amazon pays $2.6 billion a year in transactions fees.
Amazon nets $1 billion per year. Amazon could double their profits by doing all transactions in Bitcoin. If the market cap for Bitcoin was $89 billion, each Bitcoin would be worth $6,300.
Valuing BitcoinGambling
The online poker market is $4.8 billion a year industry.
Online gambling will follow poker and is a $30 billion a year industry If the market cap for bitcoin was $30 billion, each bitcoin would be worth $2,142.
Valuing Bitcoin
Remittances
International remittance is the transfer of money by a foreign worker to their home country. In 2014 global remittances were over $600 billion dollars.
Western Union fees for remittance can run from about 4 percent to 20 percent or more.
If the market cap for Bitcoin was $600 billion, each bitcoin would be worth $42,800.
Valuing Bitcoin
Present value
There are currently approximately 15 million Bitcoin users (doubling each year at current growth rate).
There are currently 15 million bitcoins in circulation.
If each user is on average willing to hold $500-$1000 worth of value in Bitcoin, the total market cap of Bitcoin would range from $7.5-15 billion.
With 15 million coins in circulation this would give us a present value of $500-1000 per bitcoin, based exclusively on current market size.