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Informative Speech: Bitcoin And Other Cryptocurrency

835 Words4 Pages

Specific Purpose: The purpose of my speech is to inform the audience of Bitcoin and other cryptocurrencies. Thesis: Every year since 2009 Bitcoin has been growing its own economy without any government regulations. Introduction I. Attention Getter: In recent years Bitcoin has invaded the internet giving people the chance to earn money without lifting a finger. II. Thesis: Every year since 2009 Bitcoin has been growing its own international economy without any government regulations. III. Preview: Today we are going to talk about what bitcoin is and how it works, why people like/don 't like it, and the possible regulations of cryptocurrencies. [Transition: Before we talk about bitcoin deeply, I 'm going to tell you what it is and how was it …show more content…

1. In 2009 an anonymous person that went by the name Satoshi Nakamoto created Bitcoin. His creation is an open source digital currency. Meaning it could be transferred online without any third party regulators. 2. Since Bitcoin is a completely digital currency created by an unknown individual or group no government is regulating it, so its value completely controlled by supply and demand. B. I will now make their definition of how it works easier to understand. 1. There are three different ways to obtain Bitcoin. First, you can exchange it for physical money. Second, you can be a salesperson that accepts Bitcoin for a product. 2. The third and most popular way to obtain Bitcoin is to mine it on your computer. To do this your computer is constantly verifying the validity of transactions. Every time a valid transaction is found the user is rewarded with one new Bitcoin. C. This is some more interesting information I found while researching Bitcoin. 1. Bitcoin is known as a cryptocurrency because it uses cryptography. Cryptography basically makes any transaction secure between two parties. Security is very important, because every person with Bitcoins, their Bitcoins, and every transaction is logged to a public ledger visible by every computer on the

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