Bitcoin is a digital asset developed in 2009 by someone under the pseudonym Satoshi Nakamoto. This digital asset is like gold, but is only available in the digital world. The concept might sound like eGold, even though it’s actually a lot different.
Bitcoins that use the Blockchain database are not controlled by a party, but are very open to the public, making it impossible for someone to fake transactions on the Blockchain.
All transactions are recorded in live, transparent, and distributed to millions of servers. Those who want to change or falsify Bitcoin transaction data, must hack millions of servers at the same time.
Bitcoin has all the same characteristics as gold, such as:
- The amount of Bitcoin is limited, ie there are only 21,000,000 Bitcoin in the world.
- Bitcoin can be broken down into smaller units without losing the value of the unit (1 Bitcoin = 100,000,000 Satoshi – the smallest unit of Bitcoin, the same as grams in Gold). We can buy less than one Bitcoin.
- Bitcoin technology is also stable and will not experience degradation.
- It’s very difficult to make fake Bitcoin, because of the Blockchain system.
- You can move Bitcoin anywhere in the world in minutes, regardless of the amount of Bitcoin
Is Bitcoin Safe?
You might think that an open source bitcoin system allows a genius computer to break into the bitcoin system and publish a number of bitcoins for itself.
In fact, this system has been reviewed by various groups as flawless. Every past transaction data is stored in all peers throughout the network, and must be sequential.
Each new transaction will be verified by a number of new peers declared valid.
Bitcoin system is safe, unsecured users and money exchangers. Just like internet banking passwords, hackers can easily steal some money from you if the computer has a virus.
Will buying Bitcoin be profitable?
This question is like what stock questions to buy tomorrow. No one can be sure.
But if I look at the development of media that covers the cause of enthusiasm for bitcoin everywhere it will create very high demand.
I believe prices will continue to soar many times, I myself start investing some money into bitcoin. But of course I am not responsible for any losses that would be experienced by the reader