Digital currency that is present in January 2009 has a system that is much different from conventional money .
Bitcoin could be analogous to mine gold ( or other precious minerals ) . The miners are those who dedicated computer resources to solve mathematical problems by calculating the " weight " .
Miners is at first perhaps only someone with a home computer . But this time , in early 2014 , bitcoin mining process is done through a device that is specifically designed and carried out collectively ( called nodes ) .
Every 10 minutes , Bitcoin system will confer a number of units of bitcoin ( 25 , for example ) on one node miners .
Mined amount per 10 minutes will go down over time , until exhausted in about the year 2140 . With the total amount that can be mined bitcoin as many as 21 million units .
Bitcoin is generated functions like a conventional currency and accepted as payment for a variety of products online transactions .
What is the value of a bitcoin ?
Currency that can be converted into another currency made its debut with the equivalent value of one bitcoin is less than 1 U.S. dollar and continued to show a fluctuating value .
Sites like Preev.com simply shows how the value of one unit of bitcoin ( 1 BTC ) in conventional currencies . For example , on January 11, 2014 at 21:30 pm , the value is 911 U.S. dollars .
Bitcoin can be used for various things , such as for the purchase of goods in stores ( both online and physical ) that receive it .
Just look at bitcoinstore.com users can purchase electronics including cameras , musical instruments , up to a computer . There is even a casino bitcoin , like SatoshiBet .
Perkembangnya seen by the increasing number of merchants who accept bitcoin . Including big names such as wordpress.com , namechap.com , and reddit.com .
decentralization
Bitcoin is the originator of the figure named Satoshi Nakamoto . Allegedly this figure is a pseudonym that can be used by a group of people . True identity is still unknown .
Nakamoto since the beginning of designing bitcoin as a decentralized system . In contrast with conventional money , no one institution can make policies that affect the value of the currency . While conventional currencies always have a central authority .
Bitcoin was , especially in the early days , so those who do not like the alternative trust the government , central bank , or a third -party institution to maintain the value of the currency and ensure the user transaction .
In Bitcoin , it was replaced with the use of mathematical and cryptographic calculations .
Each transaction in the bitcoin will be tested through a cryptographic system that spread over peer-to - peer . It is estimated there are tens of thousands of systems participating in this test .
Bitcoin is not free from theft . However , every bitcoin is stolen will remain recorded in the system . So when used for transactions will , in theory , always be tracked .
Bitcoin is a decentralized system made many people refer to it as the internet for money . If the Internet is revolutionizing the way global communications , Bitcoin is believed to change the way the world uses money .
Therefore , Bitcoin often predicted as future currency .
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