Many people are already familiar with Bitcoin, but many more are just discovering it because the Indonesian government recently reminded its citizens not to use it as a currency for transactions. Indonesian people may be wondering.
What is Bitcoin? Can it be used for shopping? Where? How to buy how and what benefits? Instead of confused yourself, let's get to know the digital or virtual currency in this article.
Most Expensive Currency
This currency is classified as a virtual currency and was developed since 2009 by Satoshi Nakamoto (who is touted as a pseudonym).
Bitcoin is a currency that is not much different from Dollar, Poundsterling, or Rupiah, but this currency is only in the digital world. The birth of this currency is based on the assumption that the good currency does not depend on the government or central bank. They set an example of the financial crisis and the government is held to be responsible for this.
This virtual or digital currency can be used to shop for products or services, although it is still quite limited. What makes this currency famous is because of the many people who make this currency as an investment. From time to time, the value of this currency has increased and peaked in the year 2017 ago. Reportedly, there will be only 21 million Bitcoin in the world and the exchange rate is now quite fantastic. Do you believe, if the value for 1 BTC (Bitcoin) reaches about 116 million Rupiah?
How Bitcoin Works
If you keep money in a bank (third party), we usually will not know how our money turns. We also do not know how much money there is in the bank. Differences with Bitcoin. This virtual currency system is an open manner, a system that can be viewed and examined by everyone in the world. Easy illustration like this. Everyone knows how many people have Bitcoin and the amount, but they do not know the owner's data.
In the open note, there is only the account number along with the Bitcoin transaction used. This prevents currency counterfeiting and makes everyone the owner.
His name is also a virtual currency, there must be potential losses, among them are the following:
Bitcoin exists because of community. If one day Bitcoin is abandoned by the community that built it, that's when the currency is 'dead'.
Bitcoin has no base value. Because of this, the value can go up and down like an unpredictable roller coaster. It could have plunged as much as 40 percent (because China once declared no support for this currency), could be up 30 percent without a definite leading cause.
Huge hacking potential. Because it happens in cyberspace, certainly a reasonable hacking happen. One thing you need to know. This hacking does not occur in Bitcoin's main system, but rather to traders or Bitcoin providers.
Getting Bitcoin
Want to try your luck with this virtual currency? You can try some of these ways.
Purchase through a trusted website. In Indonesia, there are some sites that already exist, such as Bitcoin.co.id, Luno, or CoinBase.
Bitcoin Mining. This term (or 'mine') is used to refer to verification activities for transactions that occur. When there is an instruction to move 1 BTC from account A to account B, then these maintainers (or miners) will scramble to perform validation and perform complex calculations. If successful, they will get a 'wage' of a small amount of this currency.
Selling goods or services by opening payments using this virtual currency.
Bitcoin is not the only virtual currency available, because there are more than 1000 virtual currencies available. However, Bitcoin is the largest virtual currency to date. Interested to have it?