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Is Bitcoin The Future or The World’s Greatest Scam? - Coggle Diagram
Is Bitcoin The Future or The World’s Greatest Scam?
THE MOTIVATION BEHIND MONEY
the cypher punks
agents centralised authorities
cryptography and encryption
financial crisis
The History of Bitcoin
money no longer backed up by gold
history of gold standard // America leaving it
the gold standard
Satoshi Nakamoto
an individual or group of people under the sudonim "Satoshi Nakamoto"
BITCOIN: peer to peer electronic cash system
Blockchain technology
who is Satoshi Nakamoto
what was Satoshi Nakamoto motivation behind bitcoin
MAGIC INTERNET
HOW IT WORKS
leaguers
compared to back accounts etc
decentralised // how does it legitimise the transaction
hack // incentives of bitcoin
The genesis block
NODES // THE LEGURE
peer to peer distrabuted league system
nodes and network
HASH // WHAT IS A HASH
block chains
what is it
why is it used
public private key
INSTITUTIONS
INVESTORS
difference between real investor to institutional investor
narrative of the white paper changing
institutional interest is fuelling the current prices we are seeing today (60,000 per bitcoin)
was something that bitcoin was previously lacking
store of value
people are seeing it as a store of money and investments instead of what it was intended for. It was intended to be something like money but had a real value unlike FIAT currency
relise on people's belifs and ability in being a currency instead of a store of value.
people are looking at it as a store of value
THE RISE OF BITCOIN
price and demand
2010
Lazlohonyatz (pizza) 10,000 bitcoins
bitcoin pizza day
montgoks
reputation
poor reputation in its early years
use of private and public key allowed it to be used for crime
silk road // dark web
stane on raputation still felt today
colapse of mt.gox