What is Bitcoin?

Windows Garden - Common people might think that bitcoin is just a regular currency and even when I first hear the word 'bitcoin', I think it's just a gift coin or something.

But now I call bitcoin as a number one digital currency or cryptocurrency in the world, why do I call it so? I will discuss one by one succinctly in this article.

History of Bitcoin

Bitcoin was first introduced by a man who claimed to be named Satoshi Nakamoto on January 3, 2009. However, it is not immediately clear who Satoshi Nakamoto is. At the beginning of the release, bitcoin has no value and at the moment bitcoin almost touches 40 million rupiah per unit of bitcoin and will continue to grow. Initially there are 50 blocks of bitcoin formed every 10 minutes.

After 210,000 blocks are formed then the number of blocks formed will decrease by half, and this happens every 4 years. And when bitcoin reaches 21 million (about 2140) there is no more bitcoin produced since then.

How Bitcoin Works

Bitcoin does not use the banking system like a regular currency, but uses a technology called Blockchain.

What is blockchain? simply blockchain is like a bank or intermediary if we send money, but blockchain is not managed by anyone (unlike a centralized bank and managed by a party). Blockchain has a decentralized system aliased, so all the information inside (such as transactions, assets and the like) can be seen by everyone around the world.

So no one can manipulate let alone delete records of transactions or data in it because everyone has it. If you want to do it, you have to hack millions of computers in the world with sophisticated encryption simultaneously. I think blockchain is a digital financial technology of the future.

How to Get Bitcoin

In the blockchain (as I've already mentioned) there are so many deals. This transaction requires validation, and everyone can validate this transaction. They use sophisticated computers to race to solve algorithms (or the like) to validate those transactions, and successful ones will be rewarded with bitcoins. This work is also called 'bitcoin mining'.

If we want to do transactions in the bank then we are charged a considerable fee. Not with blockchain, the cost is very low even free unlike banks in general.

You can also trade and invest your money with bitcoin. I think this is like gold investment,
even bigger.

If we do not have sophisticated computers like miners and do not have the capital to buy and invest bitcoins, do not worry. Many companies have hundreds of sophisticated computers looking for bitcoins and they rent them on their web like website hosting. Many provide it for free, so just need internet connection only. Here are some websites for bitcoin mining.

1. Freebitcoin
You are required to press the roll button every hour to get bitcoin and chance to get jackpot. Click here to sign up.

2. BestChange
You can claim at least every 60 minutes and get 10 to 1000 satoshi. Click here to sign up.

3. Moon Bitcoin
Just like freebitcoin, but you can press the claim button every 5 minutes. Click here to sign up.

Previously you must have a bitcoin wallet or bitcoin wallet to store the bitcoin you get. You can make a wallet at bitcoin.co.id

Advantages of Using Bitcoin

As I have explained at length above. There are many advantages if we use bitcoin. Here are some advantages.

Simplify transactions anywhere without third-party intermediaries
Very safe because it uses cryptography in transactions
Transparent, you can see the number of bitcoins owned by a particular user
Very good investment facilities, because bitcoin is getting scarce and demand is increasing
The transaction cost is very small even to zero

And until now I have not found the loss, as long as you can access the internet.

Conclusion

Briefly, Bitcoin is a virtual currency (non-physical) that circulates in the digital world and developed starting in 2009. Blockchain is a technology that underlies bitcoin.

If anything is wrong or want to ask any questions please feel free to let us know in the comments section below. In the future I will make more tips or tutorials about bitcoin. Don't forget to subscribe to this blog by filling out your email below this article to get the latest information about bitcoin and others technology.