About Bitcoin Cryptocurrency
Published: 2020-05-29 09:53:36

Bitcoin is a digital asset developed in 2009 by someone under the pseudonym Satoshi Nakamoto. Bitcoin is a virtual currency or cryptocurrency that has been traded in various countries, including Indonesia. Even bitcoin investment is increasingly loved by many people because the price is expected to continue to rise. So as not to misstep, first know the ins and outs of bitcoin investment. Bitcoin as a digital asset has the following features: Instant peer-to-peer transfer. Peer-to-peer itself means that Bitcoin runs without having a central server. There are a lot of bitcoin cryptocurrency platforms currently available as well as the LUNO application. You can easily buy and sell bitcoin by setting prices up or not. But the resiki for this is quite large, because the price of 1 bitcoin can reach 100 million rupiah more, this you must be careful to determine so that you can get the ideal profit in buying and selling bitcoin transactions. Therefore, before you trade bitcoin, pay attention to some interesting facts about Bitcoin Cryptocurrency.

1. Using a Peer-to-Peer (P2P) System
If you are curious about who is the intermediary of bitcoin transactions, like banks in conventional transactions, then the answer is no. This type of digital currency is a direct transaction tool, because that is called using the Peer-to-Peer system. Transactions using bitcoin are said to be safe. The reason is every transaction that uses bitcoin will be recorded and verified through a network. Then through cryptographic techniques will be recorded in a public data safe. This storage technology is called blockchain. The inventor of bitcoin, Nakamoto lured people to create another blockchain so that data from bitcoin is maintained. Those who create the storage technology will be given a prize in the form of bitcoin. From there, the number of bitcoins in circulation increased. The process of making this blockchain is better known as mining or bitcoin mining, which means mining bitcoin.

2. Bitcoin Cryptocurrency Transactions
When it was first launched, only a handful of people believed in bitcoin. After Nakamoto mined his first bitcoin (referred to as the genesis block), the official bitcoin network operated. The first person to download the bitcoin application was Hal Finney, a computer scientist who is also a cypherpunk (the name for people who fight for cryptography). He then received 10 pieces of bitcoin from Nakamoto. But Nakamoto disappeared after successfully mining a lot of bitcoin, estimated to reach one million pieces in 2010. In the same year, a commercial transaction using the first bitcoin occurred. Computer scientist, Laszlo Hanyecz bought two Pizza pans from the Papa John’s Pizza shop for 10,000 bitcoin. When multiplied by the current bitcoin exchange rate, Laszlo bought the two pizza pans at Rp810 billion. That's because the price of bitcoin has increased. When bitcoin first launched, the exchange rate of bitcoin to the rupiah was around Rp451 per chip.

3. Never Used for Illegal Online Transactions
Initially, bitcoin was used as the main payment method for the SilkRoad site, a portal of a type of buying and selling forum for all illegal goods and services. To access the site you need a special browser called TOR Browser. SilkRoad allows you to obtain any illegal goods and services, ranging from firearms, narcotics or illegal drugs, children's porn videos, to assassin services. In order not to be detected by the authorities, sellers and buyers use bitcoin as the main medium of exchange or payment instrument because bitcoin uses a peer-to-peer system.

4. Potentially Triggering the Economic Bubble
Economists from all countries have given their analysis regarding bitcoin as an economic bubble. That is a phenomenon, where the price of an item or service rises dramatically, until it is very high, then it breaks like a soap bubble being blown. The analysis is not without reason considering the price of bitcoin which has climbed high. At the beginning of bitcoin appeared in 2010, a bitcoin bitcoin to rupiah worth Rp451. About three years later, the price was around Rp800 thousand per coin. That means in three years, the value of bitcoin jumped 177,383% or up 1,773.83 times from its initial value. One year later, the price of bitcoin peaked with a value of more than Rp266 million per chip. That means in four years, bitcoin has again risen by 33,250% or 332.5 times the value in 2013 of around Rp800 thousand. The highest point for seven years (2010-2017), the value of bitcoin skyrocketed 58,980,044% or 589,800.44 times from its initial value of Rp451.