1. Bitcoin and the end of collectivism

9. Trend: collectivism

12. Bitcoin

13. Mobile Open source Decentralized network Cryptographically secured Toddler phase – Niche industries – Primitive stock & loan markets

14. Bitcoin credit market

15. The real bill / bill of exchange

16. Sale on credit with order to pay in xx days For consumer goods in high demand Extinguishable debt Bottom up, consumer driven Contracts can be tradeable

17. Advantages Fraud is more difficult, because investments serve directly to purchase lower order goods from the producer Not inflationary Helps solve volatility problem Tradeable contracts General interest rates are replaced by case by case, dynamical discounts