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Then what is the connection between Bitcoin and KoinWorks? Only 1 bitcoin, the valuation can be equivalent to Rp. Many companies have become marketplace platforms specifically engaged in bitcoin trading.īitcoin is now traded according to the prevailing exchange rate.
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Then the virus will "mine" bitcoins on the visitor's computer, causing the computer to slow down and start to overheat easily.Īpart from 'mining' and transactions between users, another way to get bitcoin which is now very popular is through trading.
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1.4 billion) every 10 minutes.īecause it is so tempting, many websites out there such as websites that provide torrent / free software or movie downloads in general even insert viruses in the form of javascript and are automatically installed on visitors' computers. People even compete with each other to mine bitcoin using their computers by solving very complex math puzzles.Ĭurrently, the winner who successfully completes the math puzzle is awarded 12.5 bitcoins (or the equivalent of Rp. The most popular thing that people do is “mine” bitcoin. The wallet in question is more like a virtual bank account that allows users to send and receive bitcoins, invest or transact.īesides in the form of transactions, then how do you get bitcoins? Such criminal acts, for example, such as financing terrorism, buying weapons, narcotics, etc., because of the extraordinary level of anonymity.Įlectronic money such as bitcoin can be stored in a digital wallet on a cloud server or on the owner's personal computer. On the one hand, because it allows illicit transactions to take place, it is very difficult for the authorities to trace who is involved in various criminal acts. Please note that every bitcoin transaction is recorded in public records but the names involved are never recorded and are always anonymous. With bitcoin too, transactions between countries are very easy and private because bitcoin itself is not bound by any country, law or regulation. So that the price of bitcoin is difficult to be affected by inflation because of the difficulty of producing very large amounts of bitcoin. The Dilemma of Bitcoin Security and User Anonymityīecause its ownership can be in the name of anonymity, bitcoin is often used as a method of money laundering and various other criminal acts.īitcoin can also be transferred via the internet to anyone who has a bitcoin wallet address.īitcoin's P2P topology and absence of a single administration make it very difficult to be manipulated by either a specific entity, be it a cybersecurity authority or any government. Ownership does not require identity, alias can be owned by an anonymous.Ģ. Unlike the money that is usually stored in bank accounts, bitcoins are basically stored on personal computers in the file wallet format, or stored in wallets provided by third parties. This was influenced by the price of bitcoin which reached hundreds of millions of rupiah in 2017. There are also many people who only trade bitcoin as a profitable investment activity, and many have become rich because of it. It also uses cryptography to provide basic security functions, such as ensuring that bitcoin can only be used by the person who owns it, and never more than once.Īs a result, bitcoin can be used in various types of transactions, such as buying internet servers, buying fashion products and so on. Unlike other currencies in general, bitcoin does not depend on one major issuer.īitcoin uses a distributed database and spreads across the nodes of a P2P network to transaction journals. It's just that, the system works without a single storage or administrator where the United States Department of the Treasury calls bitcoin a decentralized currency. Just like KoinP2P from KoinWorks, bitcoin uses a peer to peer (P2P) system. In Indonesia itself, there are many basic users, and several companies that stand specifically to become bitcoin trading (transaction) platforms.īitcoin is often seen as a new investment instrument with great potential for maximizing profits.Īt this stage, you may already be interested in getting to know more about what bitcoin is, how bitcoin works.īitcoin is a new currency or electronic money created in 2009 by someone who uses the pseudonym Satoshi Nakamoto.īitcoin is mainly used in transactions on the internet without using intermediaries, aka not using bank services. The profits are so tantalizing because the increase in valuation from time to time is extraordinary.
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What is Bitcoin? See the Complete Explanation Regarding Bitcoin! - The name bitcoin has been around for a long time and people are enthusiastically transacting or growing on one of these types of cryptocurrency.