Complete Guide About Bitcoin

Admin - Cryptocurrency

Bitcoin is a virtual currency developed in 2009 by someone under the pseudonym of Satoshi Nakamoto. This currency is like Rupiah or Dollar, but it is only available in the digital world. The concept may sound like eGold, although it is actually much different.

Bitcoin as currency has the following features: Instant transfer in peer to peer. Transfer anywhere Transfer fee is very small. The transaction is irreversible, meaning once transferred it can not be canceled. Bitcoin transactions are anonymous. Bitcoin is not controlled by any agency or government. The amount is limited.

You can transfer bitcoin to anywhere in the world as long as it is connected to the internet. Bitcoin will be stored into the Bitcoin Wallet. This wallet must be installed on both sides, can be with PC / laptop, tablet or smartphone. After installing the wallet, you will get a Bitcoin Address. For bitcoin transfer is very easy, open the wallet app, input Bitcoin Address of the transaction opponent and the number of bitcoin you want to transfer, then send.

Then you may ask, if there is no bank or company that manage as well as paypal or egold, then financial data stored where? The answer, on your own computer (in wallet) and peer to peer network around the world.

Bitcoin money stored on your computer inside the wallet. If your computer breaks down your bitcoin money is gone, so bitcoin wallet must be backed up regularly to some devices. When making transactions, tens of thousands of computers in the bitcoin network will verify the data you input so there is no cheating.

Who publishes Bitcoin?

The new bitcoin is created by a process called "mining". Miners use sophisticated computers to decipher the complex mathematics to discover the new block of Bitcoin, as a reward the inventor will be rewarded with a number of bitcoins. Prize per 1 block discovery initially has 50 BTC, now 25 BTC / block, then will continue to decrease along with add Bitcoin circulation. The system has ensured that the maximum bitcoin in the world is 21 Million BTC so there will be no inflation.

Is Bitcoin Safe?

You might think that an open source bitcoin system allows a genius computer to break into a bitcoin system and publish a number of bitcoins for itself. In fact this system has been reviewed by various circles as flawless. Any past transaction data is stored in all peers across the network, and should be in order. Each new transaction will be verified by a number of newly declared valid peers. Secure, insecure bitcoin systems are users and money exchangers. Just like internet banking passwords, hackers can easily steal some money from you if the computer is infected with a virus.

How to get Bitcoin?

You can get bitcoin by buying and mining. To buy bitcoin can be done in exchangers such as bitcoin.co.id (indonesia), mtgox (US & Japan), and btcchina . com (China).

Will buying Bitcoin be profitable?

This question is like what stock questions to buy tomorrow. No one can be sure. But if I see from the media developments that cover the enthusiasm will bitcoin everywhere will create a very high demand. I believe prices will continue to soar many times over, I myself start investing some money into bitcoin. But of course I am not responsible for any losses that if it will be experienced by readers. The capitalization value of bitcoin is now about 1.3 Billion USD or about 13 Trillion Rupiah 11 Billion USD or 130 Trillion Rupiah (updated December 14, 2013), but this is still the beginning of many people who do not know about Bitcoin.


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