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What is Bitcoin? - New Virtual Currency in the World Internet

Posted by Ran Dreamer on 1 Oct 2016


Buying and selling on the Internet these days has indeed been growing so rapidly. Not only in the process of an increasingly diverse transactions, now also has appeared a new virtual currency called Bitcoin. Maybe some of you there who do not know even the first hearing his name.


However, since introduced in 2009, this unique currency in fact begin to be used by most actors in the eCommerce world. More details following a review of whether and how the role of Bitcoin as a means of online transactions.

Definition and History Bitcoin

Bitcoin is a virtual currency that can be used to transact online. When asked how this form of currency, which clearly shaped not like a physical currency issued by a bank and not a currency of a country. The shape of this unique currency is just a file like ordinary general files.

The file is encryption of unique codes that make it not the same with one another. And as mp3 files or word that you have on your computer equipment, Bitcoin files can also be stored in a computer or a flash disk or software called Digital Bitcoin Wallet. In addition Bitcoin can also be saved in Bitcoin storage services in the Internet cloud shaped like a social.

According to some sources, the history of the birth of Bitcoin began in 2007. A computer experts to try to develop a virtual currency system that is completely new models are not bound by any party or authority. The man was named Satoshi Nakamoto. The man from Japan is claimed to develop Bitcoin for 2 years and started to take it off in the world of the Internet in 2009 and eventually spread to the present.

However, there are some experts who claim that the inventor is a fictitious name and no real person with that name. There are some experts who claim that the currency Bitcoin is something that is created by a person or group of people who really want to create a new perception in the world of online transactions. And the ultimate goal of course to take advantage.

Bitcoin deployment

When asked how the value of the currency as well as the deployment of Bitcoin. Regarding the current distribution Bitcoin has spread almost all over the world. However there are some countries that have firmly rejected the use of currency Bitcoin as a means of online transactions. Country-the country include China and Singapore, the country has refused the use of Bitcoin as a means of buying and selling legitimate because it is not safe. In addition Bitcoin also feared will adversely affect the stability of online transactions in the country.


Regarding the value of Bitcoin, if on-the-exchange rate with the US dollar, some parties claimed that the current value of 1 bitcoin or 1B (symbol Bitcoin) valued at $ 195 dollars. However, the value will continue to change according to where the number of Bitcoin that exist today. Until now there are 21 million are estimated to have increased 25 Bitcoin Bitcoin per minute throughout the world.

Advantages and Disadvantages of Bitcoin

The advantages of Bitcoin as payment instrument is that it is simple and concise. Bitcoin is a means of transaction per person and only people who can use it to hold it. In addition to using it too, we do not need to include personal information such as the currency bank or other online transaction accounts. This course provides information security of the owner.

The loss of the use of Bitcoin is because its shape is just a file, allowing Bitcoin becomes damaged / lost / deleted if something happens to the device where we store the Bitcoin. And the biggest drawback is that Bitcoin is a transaction tool that is present because there is a will and trust of its users. This allows a current Bitcoin could really not worth because there is no one wants to use the currency.
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Bitcoin currency is a result of the development of e-commerce technology is growing too massive. And for those of you who are a principal ecommerce okay to follow and understand more about the developments there, but the important thing is still maintaining the security of your transactions.

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