What is Bitcoin? Why do people call it “ gold in the real world” ? What is the price of the current Bitcoin? How to earn Bitcoin (BTC)?
What is Bitcoin (BTC)? Is BTC a type of money, how to use it ? Should we invest in bitcoin or not? These are the questions and also the keywords are many people in Vietnam as well as around the world, especially in the late 2016 to early 2017. When searching on google with the keyword “Bitcoin” and “What is Bitcoin” has up to 245 million results related to it, showing a huge amount of information on the topic on the internet. And for the most thorough and thorough understanding of Bitcoin, you will not be able to skip the article below of us – KriptoA.
1.What is Bitcoin?
Bitcoin (you can call it BTC or XBT) is a type of the currency of the internet. It is an encrypted currency, also known as digital currency (electronic money, virtual currency, currency). launched in 2009 as an open source software, and it was created by a person named Satoshi Nakamoto. Bitcoin is exchanged directly on the internet without the use of any intermediary financial institution. The way Bitcoin works differs completely from the normal currency, there are not any individuals or organizations that handle Bitcoin transactions.
Bitcoin currency is widely used in ecommerce, is the first and most typical coding currency. The cost that you have to pay for payment, transaction bitcoin is much cheaper than other types of money so it is preferred by companies and business men. As of June 2016, Bitcoin’s base amount was valued at about $ 12 billion, making it the largest currency ever.
If you want to spread your knowledge or you want to learn more about Bitcoin, please read the article “What is bitcoin on” Wikipedia, or you just need to understand that bitcoin is an electronic currency, real value, can be bought or exchange without anyone controls you.
How was Bitcoin born? And who created BTC ?
Bitcoin was created by an individual (or organization) but did not want to reveal its identity, so named Satoshi Nakamoto (Until now nobody knows who Satoshi Nakamoto is) .
The birth of Bitcoin is considered by many as a world-class revolution, the bitcoin money has solved the problem of trading intelligently without anyone’s control. Here is an example for you to understand more:
For example, your relatives in the UK, if they want to send money to you, will have to go to the bank or pass through your VISA card or an online payment gateway. In general, they have to go through an intermediary and take charge.
But if your loved ones use bitcoin they are different, they can send money to you without having to go through an intermediary at all, just have internet connection, only take 5-10 minutes they can send bitcoin for you from somewhere in the world. Of course in Vietnam you will get bitcoin and sell it as easy as gold or the dollar with the current exchange rates on the trading floors, the transfer fee is almost = 0.
Is Bitcoin a virtual currency?
“Bitcoin is not real money?” ,because it seems like many people didn’t got the right definition about BTC, we decided to write this article for you to have more information about this type of money.
Actually bitcoin is not a virtual currency but a real money or another way of calling it “electronic currency“. Many people who are new to information or have not known enough information or call bitcoin is virtual currency, this way is easy to mislead people who do not know about bitcoin, because the word “virtual” is to indicate something is not there. Usually, virtual currency is used in a certain community, for example, when you add money to the game, it is virtual currency, it is almost impossible to convert real money and if so, the value is very low due to two party rules when dealing. Moreover, the way to create virtual currency and run it completely different than bitcoin.
Opposite to that, Bitcoin can be changed into real money which has a huge value, bitcoin is widely used in the whole world. It can be use to purchase more one of value with a real money, 1 bitcoin with value to $ 1,021.10 at KriptoA post this post and also a cash with the big value.
Image below this bitcoin interface table from 2012 to current:
The bitcoin price also also updated by the same time like another other coins as dollar, euro or gold, .. You can see the price of the bit for the bit for your updated pay by 24/7 has first direction.
The last time 2012, 2013 on the same user use the bitcoin for shopping online or use online services is a root. However, starting from the year 2015 again again, too many company, business, the commodity used for this use to register online and offline. Some example sample images like: Paypal, Microsoft, Reddit, Dell, .. Coffee shops,restaurants .. also using bitcoin in order to create the convinient for their customers.
2.What is a bitcoin wallet?
If you are considering how to send bitcoin, send with something and where to store them ? Bitcoin is the answer, bitcoin is used to store data, for transactions. Anyone who uses bitcoin also creates a bitcoin wallet on their own. The way it works is that when you open the wallet, you will be provided with one or more public addresses so others can send money to that address. Some reputable sites allow you to create a wallet such as: Blockchain.info, Coinbase
Most bitcoin storage wallets have extremely high levels of security combining multiple layers. If you want to log in you need to authenticate by email and by phone, or have a feature that allows you to print your wallet yourself for safekeeping. whole. However, you absolutely must not disclose your wallet information to anyone, because if they have login information on your wallet, they can make a transaction and steal the entire number of bitcoin in your wallet.
Advantages of Bitcoin
As the leading experts estimate, the birth of bitcoin has marked a turning point in the history of electronic payment, bitcoin brings great advantages and more than other currencies:
1.Comfortable in transaction: You can send an unlimited amount, anywhere in the world at any time for relatives, friends without anyone managing the money you send.
2.Bitcoin can not be faked: The next advantage of bitcoin is that it can not be faked, because bitcoin does not exist in the physical form as other currencies, and bitcoin testing does not cost anything in gold. is very high.
3.High security and very safe: All bitcoin transaction information is displayed on the internet but the identity of the transaction does not appear so the information security is very high. Up until now, the bitcoin protocol has not had a single security flaw for losing a user’s bitcoin.
4.Environmental protection: Digital money does not have to be used for printing or copying chemicals to make it safe for the environment. Bitcoin-based computer systems consume much less power than current financial systems.
5.Ecommerce Development Potential: There are now a lot of businesses, companies, stores, allowing the use of bitcoin to pay bills, every bitcoin transaction can not be returned or reversed, so every The fraudulent situation is useless with bitcoin
Disadvantages of bitcoin
1.The number of users is not much: Bitcoin is mainly used in developed countries such as the US, China, … And most people do not know about electronic money, some groups do not have enough knowledge, do not know what bitcoin is said that bitcoin is not reliable currency, so still afraid and worried Worried when using bitcoin money.
2.It is not easy to use bitcoin: Without the knowledge of the technology and the real understanding of bitcoin, it is difficult to use as well as deal with it, as described in the previous section to use bitcoin. bitcoin, and change bitcoin to cash. So for those who do not know about information technology, it is recommended that experienced people guide them to perform these tasks.
3.Bitcoin usually fluctuate: Like the dollar, the euro, the gold, or the stock market, bitcoins also fluctuate in real time, when they rise sharply, and then fall sharply, most of the fluctuations in the world affect the copper. Electronic money can cause bitcoin prices to fluctuate. For example, the new Bitcoin release price is only around a few dollars, but at present, a bitcoin price has risen to more than $ 1000.
4.Hacker, illegal money laundering: Because the form of bitcoin trading is not controlled, many criminals use this currency as a trading method. Hackers can also find and attack multiple bitcoins and steal, besides money laundering can happen at any time.
The chart below describes the legality of bitcoins worldwide:
Green: Legitimate
Red: Legislation against bitcoin
Yellow: The law does not prohibit, but does not admit, provoke controversy.
Navy blue : Not clear
However the exchange, trading, digging bitcoin is still popular and there already a bitcoin exchange platform based in every country . The purpose of buying a bitcoin is one by one:
• People soon realize that the potential of bitcoin coins in the future and start to buy bitcoin
• Some are trading , buying bitcoins at low prices and storing for sale
• Participating bitcoin digging groups, investment networks (HYIP)
• Joining the mineral floor
It can be summarized that in some places ,people do not support the use, invest in bitcoin and give a warning about the risks that users may encounter as well as no specific law for this currency. In the world there are also some countries do this like India, Singapore, the Netherlands, Denmark, Norway, .. The state exempts responsibility for bitcoin or any virtual currency when people use ?ith no controlled by the bank.
Even though , there are also countries that see the potential of this currency and allow for publicly traded, legitimate use of bitcoin in e-commerce transactions, typically the United States.
But with the growing trend of e-commerce, online payment service, the number of bitcoin users will definitely increase. As more people use,the bitcoin price will increase, because bitcoin is a limited gold-like currency, so maximum only 21 million bitcoin (expected to exploit all in 2140).
3.The truth about the trick through bitcoin:
If you have been surfing the internet to find out about bitcoin and related information,read it in the news, watched on TV or heard from friends that there are bitcoin scams. What is this story?
At first, I would like to remind you that : Bitcoin is a currency of real value or, most accurately speaking, a bitcoin is a virtual currency, but it has real value, no headed, managed, so it’s not guilty. If you search google for the keyword “Bitcoin Scaming” then there will be quite a few articles about these cases, just as you were cheated on money, cheated property.
Many articles claim that bitcoin can be a multi-level fraud model in the form like Ponzi. However, a report from the World Bank in 2014 concludes that “contrary to many people’s opinion, Bitcoin is not a Ponzi fraud model” but it is likely The bad guys can exploit bitcoin for their own scams.
In short: Bitcoin is not at fault in any fraud, whether or not it is caused by people in the community who use bitcoin to create and use bitcoin as a form of fraud. And also because bitcoin is a virtual currency, many people do not have the knowledge, not enough knowledge should be attributed to bitcoin is not bogus bogus, this KryptoA.com claims to be completely wrong.
4.How to earn bitcoin
We believe that many people after reading this article or previously learned about virtual currency bitcoin also want to own it when the price of a bitcoin up to more than $ 1000. So how to earn bitcoin? Below KriptoA will give you some methods for you to get bitcoin.
Self-digging or joining bitcoin digging groups
You need to understand to dig a bitcoin is a process of emulation of “miners” to solve a problem, find the solution to the problem. On average, one or a group of people solves the problem every 10 minutes and receives the corresponding bitcoin number. In the past few years, there have been many individuals and groups digging bitcoin, but because the investment cost of digging machines and electricity bills are too large, they can not be maintained anymore.
So you can look for such bitcoin digging groups or friends who are diggers, you invest money to join, you can also buy money digging machines, but this form to refund takes a lot of time and effort.
Invest in buying bitcoin
Back to the question at the beginning of some posts you sent to KriptoA.com “should I invest in bitcoin?“, “How to invest in bitcoin ?”, This depends on the thinking and views of each person.
Bitcoin trading
Because the bitcoin prices fluctuate, the time difference up to several dozen, hundreds of dollars in a short time, so a lot of people rely on this characteristic, won. Study time, choose the right time to invest, buy bitcoin at low prices and then sell at high prices.
Should we join the MMM ?
With this form of investing, you will choose a bitcoin floor then buy and invest bitcoin for that floor, the percentage of profit will fluctuate 20 – 40% per month. However, this is a form of very high risk, the percent that you may completely lose the investment amount when the floor scam, floor broke is high . To generate more profit you have to invite many people to join you ( just like the multilevel ). In our opinion , we advised you not to participate in this form.
5.Will BTC “die” ?
The fact that the bad news is often more widely accepted and spread by the community than the positive ones. For example the benefits that BTC bring to the users about the cost reduction, convenience in payment, the share of people are very few . In another hand, the information such as “Bitcoin fraud“, “investment bitcoin fooled” is spreading very quickly but the people who share it are people who do not even know what bitcoin is.
If you do the searching on Google, the results are often the incorrect information of the non-mainstream newspapers, and from that, they attached the label “fraud” for bitcoin coins.
There are many individuals who do not understand bitcoin but they are still fouling the bitcoin image, assuming that bitcoin is a fraud, is a type of multilevel, is an electronic money to finance terrorism.
Recently, however, when some major newspapers have reportedly bumped up bitcoin in a positive way, some sections of the public have begun to recognize and think differently about bitcoin. Over the period of time seemed to be “eliminated“, but bitcoin still live and grow very strong, so the chance of bitcoin death is very low.
Conclusion
So we explained almost all information about BTC in this article, we hope you find it’s helpful for you, if you want to learn more please go to our website : Kriptoa.com/