Cryptocurrency Speech PDF

Preview

Summary

Speech explaining cryptocurrency...

Description

Calaway Scholes Mr. Mitchell Public Speaking September 17, 2017 Cryptocurrency: Digital Gold Purpose: To inform the audience about what Cryptocurrency is, its use, and its potential in the future. 1. Introduction a. Hook: Have you ever heard the saying money doesn’t grow on trees? Conceptually, that saying is now wrong. You can actually grow your own money thanks to the new technology of cryptocurrency. b. Topic Introduction: Cryptocurrency is new form of technology better known as Bitcoin. I’m sure some of you have heard of Bitcoin before. If not, you’re not alone because a good majority of the people I know are completely unaware cryptocurrency exists. Cryptocurrency is made up out of block-chain technology. The whole goal of this digital, block-chain currency is to remove the ties of currency from individual countries essentially decentralizing it. c. Relation to Audience: Cryptocurrency is very important in our current economic world because it is changing the age old question of where should I put money when it comes to investments, to now what currency should I invest in? US investments or Cryptocurrency? It is also allowing people in countries like China, whose peoples investments are controlled by the government, to now be able to put their money wherever they want like U.S. companies and investments.

d. Ethos Statement: You’re probably wondering why a broke college kid like me is so interested in these cutting edge technology investments and the reason is because you’re right, I am broke, and someone 7 years ago bought a pizza for 10,000 Bitcoins which would now be worth $49,000,000 (Price). That’s right, something that was once worth a pizza is now technically worth $49,000,000 today. I want to get ahead of the curve and make an investment with that kind of return. e. Thesis: For this presentation, we will look at what Cryptocurrency is, its use, and the potential for its future. Transition: Let me now explain what Cryptocurrency actually is. Cryptocurrency has hundreds of different coins that make it up with each coin’s technology unique in some way and each with a different value. 2. Main Point 1: Explanation of Cryptocurrency a. The most common cryptocurrency is the Bitcoin. Bitcoin is mined through supercomputers who solve giant equations to make it to the next block in the blockchain. Every time a new block is reached by the computers, bitcoins are rewarded. You can literally create money through your computer's power. People also buy bitcoin and since there’s a finite amount of it, every time someone puts money into it, the price of one bitcoin goes up. Bitcoin started at $.008 and is now worth close to $4900 (“Complete..”). b. The best explanation to what a Bitcoin (form of Cryptocurrency) is is to imagine that it is gold. Pretend that all the gold in the world is in one mountain and you are competing against everyone else to get to it the fastest. You can either buy the

already found gold for its current price and hope it goes up as more is discovered or you can mine for it yourself with equipment. The nicer gear you have the faster your gonna get gold. Same concept with bitcoin. You are competing against the world for a finite good and you can either buy what already exists or digitally mine for more. The more powerful your computer the more you will get. Transition: You might be wondering, so what can we use this currency for? Surely I can’t go to Walmart and buy something with it. 3. Main Point 2: Cryptocurrencies use a. In today’s world, you can buy practically anything with cryptocurrency. There are trading platforms such as Kraken, Coinbase, or Bittrex that allow you to transfer your cryptocurrency into U.S. Dollars and then deposit that money into your bank account. There are mobile apps that let you buy gift cards on your phone with cryptocurrency that you scan at checkout to pay for your items. There are even Bitcoin ATMs in some places that allow you to withdraw cash from Bitcoin. There are currently over 1600 Bitcoin ATMs across 59 countries ("Bitcoin..). b. These different platforms also allow you to transfer your money from one to another in case you want to invest in some currency your current platform doesn’t offer. Transition: You might be wondering, where is this all gonna go? Are people really gonna start incorporating this into daily life? 4. Main Point 3: Cryptocurrencies Future a. The answer is most likely yes. This new form of technology is so advanced that it can change the way the business world works ("How..). For example, Ethereum, a

cryptocoin, has the ability of creating smart contracts, “Smart contracts, in fact, allow a huge possibility of applications. They are computer protocols that have the main purpose of executing the terms of a contract in order to satisfy common contractual conditions without the need of trusted intermediaries. This way, smart contracts can be used as the deepest layer of any kind of application development and not just to set payment-related transactions. According to Leonardo Pedretti (Ethereum Italia and Etherevolution), in five years from now, Ethereum will be the undiscussed leader as the main platform to be used for development and smart contract execution: “Users will use Ethereum even without knowing it. The same thing happens today when you download an app, without knowing deeply the technology used behind it,” explained us Pedretti,” (Rosic). 5. Conclusion: I hope that you know have a brief understanding of what Cryptocurrency is, how it is used, and what it’s potential is. a. Round Off: Next time someone talks about cryptocurrency or you read about it in the news, you will now understand what they are talking about unlike many.

Works Cited "Bitcoin ATM Map – Find Bitcoin ATM, Online Rates." Coin ATM Radar. N.p., n.d. Web. 28 Sept. 2017. "Complete Bitcoin Price Chart with Related Historical Events." 99 Bitcoins. N.p., n.d. Web. 17 Sept. 2017. "How Would I Explain Ethereum to a Non-technical Friend?" Blockchain - How Would I

Explain Ethereum to a Non-technical Friend? - Ethereum Stack Exchange. N.p., n.d. Web. 28 Sept. 2017. Price, Rob. "Someone in 2010 Bought 2 Pizzas with 10,000 Bitcoins - Which Today Would Be worth $20 Million."Business Insider. Business Insider, 22 May 2017. Web. 17 Sept. 2017. Rosic, Ameer. "What Is The Future of Cryptocurrency?" The Huffington Post. TheHuffingtonPost.com, 20 Mar. 2017. Web. 17 Sept. 2017....