Explanation On How Bitcoin Works (What Is Bitcoin)

What is Bitcoin ? Bitcoin is an electronic payment instrument are many types, there is liberty reserve , paypal , perfect money , money ... thumbnail 1 summary
what is bitcoin
What is Bitcoin ? Bitcoin is an electronic payment instrument are many types, there is liberty reserve , paypal , perfect money , money bokers , etc. . But there is one means of payment which is quite unique because it was created by a cryptographic system terconeksi internet , that is Bitcoin.

Bitcoin is a first implementation of the concept of currency crypto ( crypto -currency ) , where controlling , issue currency and transaction arranged by Cryptography . Cryptography is the study of mathematical techniques related to aspects of the security or confidentiality of information .

Cryptographic techniques are used to guarantee the transaction process run according to the rules and record-keeping and peace. Cryptography is also used as a regulator of supply & demand of the Bitcoin currency is . It can be argued over financial processes governed by mathematical algorithms in cryptography technique is automated, so it is not necessary for central monitoring and controlling its currency .

Without dibutuhkannya controlling center , then called Bitcoin currency ter - decentralization , which means there is not a person , body or country that acts as the controller of this currency . This is certainly since the beginning of the design by the author to avoid political influence and monopoly bank .

In addition to the well- decentralized nature , transactional currency is also done without intermediaries , so that the receiver and the sender ( seller and buyer ) to make transactions directly without third party where the second party is also , as long as the two reconnect via the internet.

Due to the nature without intermediaries and ter - decentralization , the then owner of the currency does not have to have an account as befits an account at the bank , nor to be registered on the website , server or a specific agency , so this currency guarantees the confidentiality nature of money and the owner transaction itself.

Ownership information in the form of money that a particular code can be stored in a variety of media , whether it be a file on your local computer , mobile phone, flashdisk , or in other media. Ownership information is referred to as a wallet ( purse ) .

Everyone can have an unlimited amount wallet free of charge manufacturing, Internet connection or registration process . Inside the wallet there is encrypted code to get historical data transactions from the Internet connection, by reading data , the owners can find out how much money is saved in the wallet he owned.

Each wallet has a name or address referred to Bitcoin -address or adequately address . by using this address one can do Bitcoin transactions as befits send or receive sms / email. Address is an alpha-numeric character string of 34 characters , for example: 1JbQBkDnETtEdLycyJcXGAsus6ztE9KP1h

There are a wide range of services website (one mtgox.com ), which provides currency exchange services traditional ( such as the U.S. $ and other currency ) to Bitcoin , so through this website users can buy or sell according to Bitcoin Bitcoin exchange rate at that time.

Bitcoin exchange rate against the U.S. $ when this article is made ​​is 118 U.S. $ per 1 BTC , developed at the beginning about the year 2010, the Bitcoin exchange rate has a very small , which was then used to transact with an issue to 10000 BTC to seporsi Pizza , where the value of that number is around 54,000 U.S. $ or equivalent to 490 million Rupees.

for who would donate or try to send BTC can be sent to: 1JbQBkDnETtEdLycyJcXGAsus6ztE9KP1h

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