Humas (12/2)| Bitcoin is one form of cryptocurrency (a digital currency). Due to the digital properties attached to Bitcoin, the storage is also done digitally. Bitcoin itself is found by a person / group of programmers who use the name Satoshi Nakamoto.
Bitcoin can be used to perform transactions in cyberspace, such as to make game purchases to website hosting. Although the number of services receiving Bitcoin is still quite limited at this time. Then why are people fond of Bitcoin itself? The answer is that in addition to the above-mentioned transactions, Bitcoin can also be used for investment (buy Bitcoin when the price is cheap and sell when the price rises).
Basically Bitcoin is a digital journal that keeps track of who has Bitcoin. Just as a bank also has a journal that records the amount of money held by its customers in its account. Because Bitcoin is a digital journal so that the storage is not on a particular agency or party, but is in each person or anyone who wants to own and assist the transaction process (maintainers).
This digital journal is not controlled by one party, but all participate. So if there is damage to a digital journal then the owner of the digital journal still has a backup of all other users. But since everyone can have this digital journal then they can know the amount and every transaction that happens in the digital journal. With the identity record owner of the digital journal can not be known by others. Because the data stored is a Bitcoin address (such as account number) without being provided by name, address or personal information. When A sends B 1 Bitcoin (BTC), an instruction will be sent to the entire network that holds the copy of this journal. The instruction is to move 1 BTC from A (subtract) to B (add). After this instruction runs then the entire journal in the network will get an update.
To prevent the occurrence of counterfeiting instructions then the network requires a proof, that the instruction to move 1 Bitcoin comes from the original owner. This then becomes the task of a private key that is only owned by the original owner. Unlike the signature on check, this private key produces different markers on each transaction. Subsequent transactions will result in different markers.
Bitcoin’s ever-changing exchange rate provides an opportunity for Bitcoin miners to benefit from Bitcoin’s buying and selling activities. The cause of Bitcoin exchange rate fluctuations is demand and supply. When demand is high and the amount of Bitcoin available is low then the Bitcoin price will be high, and vice versa. The situation when Bitcoin demand is on the rise is the right time to sell our Bitcoin, whereas if the offer is high then accompanied by low demand it is the right time to purchase Bitcoin. The exchange rate of Bitcoin at the time of writing of this article is Rp.103.100.000. To know the exchange rate Bitcoin with rupiah, can be accessed through Bitcoin.co.id site.