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Post on 21-Oct-2014



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Bitcoin is Money Without Government


<p>Your Presentation Title Comes Here</p> <p>Jon MatonisExecutive DirectorBitcoin Foundation</p> <p>Giant Stone Money Of Yap*</p> <p>Search For Extraterrestrial Intelligence (SETI)*</p> <p>Bitcoin Network Computational Power*</p> <p>What Happens When Trust Becomes Decentralized?*</p> <p>What Is Bitcoin?*</p> <p>Bitcoin Is Disruption Within Disruption*Supreme disruption in payments occurs when a new monetary unit is introducedCapital B Bitcoin is a distributed network without the need for a third partySmall b bitcoin is a new monetary unit of account on this networkBitcoin sparks currency competition with national issuers</p> <p>De-Central Banking Is The Future*</p> <p>Bitcoin Active Nodes Worldwide*</p> <p>Bitcoin Benefits For ConsumersCurrency of youth (18-27 years old)Truly global and banks not requiredNot centrally controlled by governmentsProtection from financial surveillanceAnalog equivalent rights (cash-like)Paper Cash to Digital CashAnonymous PrivateUntraceable PersonalIrreversible Final*</p> <p>Bitcoin Benefits For Merchants*Extend acceptance to countries not reached by Visa, MasterCard, and PayPal (60+)Provide payment method for the unbankedNot subject to payments embargoNo disallowed merchant categories codes (MCCs)Eliminate chargeback and fraud riskProcessing fees approaching zeroNear immediacy of settlementObtain free publicity</p> <p>We Dont Need Kings To Coin Our Money*</p> <p>The Post-Legal Tender Era*The power of decentralization alters and outlives traditional political institutionsMonetary policy impactFiscal policy impact</p> <p>Monetary Policy Impact*</p> <p>No Fractional Issuance - fractional reserve banking becomes nearly impossible without the emergence of money substitutesHealthy Deflation - opportunistic and unrestrained inflation gives way to natural deflationReduction in detrimental business cycles - interest rates respond more to the risk of the lending activity rather than central bank open market operations</p> <p>Fiscal Policy Impact*</p> <p>De-emphasize Income Tax - governments gradually shift from taxing income to taxing consumptionCheck on Spending - government spending becomes constrained by actual revenue raised, which means that unpopular expenditures will be difficult to fund</p> <p>Early Use Cases For BitcoinArgentinaCyprusKenya</p> <p>*</p> <p>The Post-Legal Tender Era*Absence of a financial intermediary radically transforms current industriesRetail payments go mobileInterbank transfers go point-to-pointAsset management becomes personal</p> <p>Bitcoin Mobile Is Here Today*</p> <p>Bitcoin Is Being Spent More Than Ever*</p> <p>Bitcoin Advancing On Other Networks*</p> <p>XBT Is Proposed ISO Currency Code*</p> <p>Quotes From Establishment*</p> <p>Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. -Nassim Taleb </p> <p>I think the fact that within the bitcoin universe an algorithm replaces the functions of [the government] is actually pretty cool. -Al GoreI think [bitcoin] is a technical tour de force. -Bill Gates </p> <p>Quote From Me</p> <p>Bitcoin is to legal tender as BitTorrents are to copyrights.- Jon Matonis*</p> <p>Thank You</p> <p>Twitter: jonmatonisEmail: jon@bitcoinfoundation.org*</p> <p>****************</p>