Know What's Bitcoin: The New Virtual Currency in the Internet World

What is Bitcoin? Perhaps many of us still do not understand about Bitcoin. This article will cover briefly on this digital currency.

The recent sale and purchase transactions on the Internet have indeed grown so rapidly. Not only in the process of increasingly diverse transactions, now also has emerged a new virtual currency called BitCoin. Maybe some of you there who do not know even new first heard his name.

But since it was introduced in 2009, this unique currency is in fact becoming used by some of the e-commerce actors in the world. More complete with reviews about whether and how BitCoin role as an online transaction tool.

What Is Bitcoin and How Is History?

BitCoin is a virtual currency that can be used to transact online. If asked how this form of currency, which is clearly not like the form of physical currency issued by a bank and not the currency of a country. The shape of this unique currency is just a file like common files.

The file is an encryption of the unique codes that make it different from each other. And like any mp3 or word file you have on your computer, BitCoin files can also be stored in a computer or a flash disk or software called BitCoin Digital Wallet. In addition BitCoin can also be stored in BitCoin storage services on the Internet in the form of social cloud.

According to some sources, the history of the birth of BitCoin began in 2007. A computer expert tries to develop a new virtual currency system model that is not bound by any party or authority. The man was named Satoshi Nakamoto. The man from Japan admitted to developing BitCoin for 2 years and began to release it in the internet world in 2009 and eventually spread to date.

But there are some experts who claim that the inventor is a fictitious name and there is no real person with the name. There are some experts who claim that BitCoin currency is something made by a person or group of people who really want to create a new perception in the world of online transactions. And the main purpose of course to take advantage.

However, back again regardless of the many stories that circulate in fact there are now people who transact using BitCoin and it seems it is increasingly widespread even have touched the virtual community in Indonesia. You can find some information in Kaskus because not a few who have sold BitCoin there.

BitCoin Deployment

If asked how the value and the spread of BitCoin currency. Regarding the current distribution of BitCoin has spread almost all over the world. But there are some countries that have flatly rejected the use of BitCoin currency as an online transaction tool.

These countries include China and Singapore, the country does reject the use of BitCoin as a legal buying and selling tool because of its unsafe nature. Besides BitCoin is also feared will have an adverse impact on the stability of online transactions in the country.

Regarding the BitCoin value, if it is quoted with US dolas, some parties state that the current value of 1 BitCoin or 1B (symbol BitCoin) is worth $ 195 dollars. But the value will continue to change in accordance with the existence of the number of BitCoin that exist today. Until now it is estimated there are 21 million BitCoin that increased 25 BitCoin permenitnya worldwide.

Pros and Cons of BitCoin

The advantages of BitCoin as a means of payment is its simple and concise. BitCoin is a person-to-person transaction tool and only the person holding it can use it. In addition to using it anyway, we do not need to include personal information such as on bank currency or other online transaction accounts. This certainly provides information security from the owner.

The disadvantage of using BitCoin is because the form is just a file, allowing BitCoin to be damaged / lost / erased if something happens with the device where we store the BitCoin. And the biggest drawback is that BitCoin is a transactional tool that comes because there is willingness and trust from the users. This allows a time when BitCoin can be really worthless because no one wants to use the currency.

Here's a video in English that describes in brief what and how BitCoin works.

BitCoin currency is indeed a result of the development of ecommerce technology world that grows too massive. And for you who are an ecommerce agent may follow and understand more about the progress that is, but the most important is to keep your transaction security first. Let's wait how the development of this unique virtual currency this one.>quote