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Explanation Of Bitcoin?

Bitcoin is a virtual currency that can be used to transact online. When asked how this form of currency, which clearly shaped not like a physical currency issued by a bank and not a currency of a country. The shape of this unique currency is just a file like ordinary general files. The file is encryption of unique codes that make it not the same with one another. And as mp3 files or word that you have on your computer equipment, Bitcoin files can also be stored in a computer or a flash disk or software called Digital Bitcoin Wallet. In addition Bitcoin can also be saved in Bitcoin storage services in the Internet cloud shaped like a social. According to some sources, the history of the birth of Bitcoin began in 2007. A computer experts to try to develop a virtual currency system that is completely new models are not bound by any party or authority. The man was named Satoshi Nakamoto. The man from Japan is claimed to develop Bitcoin for 2 years and started to take it off in the world of the Internet in 2009 and eventually spread to the present. Bitcoin is a virtual currency that can be used to transact online. When asked how this form of currency, which clearly shaped not like a physical currency issued by a bank and not a currency of a country. The shape of this unique currency is just a file like ordinary general files. The file is encryption of unique codes that make it not the same with one another. And as mp3 files or word that you have on your computer equipment, Bitcoin files can also be stored in a computer or a flash disk or software called Digital Bitcoin Wallet. In addition Bitcoin can also be saved in Bitcoin storage services in the Internet cloud shaped like a social. According to some sources, the history of the birth of Bitcoin began in 2007. A computer experts to try to develop a virtual currency system that is completely new models are not bound by any party or authority. The man was named Satoshi Nakamoto. The man from Japan is claimed to develop Bitcoin for 2 years and started to take it off in the world of the Internet in 2009 and eventually spread to the present. Bitcoin is an electronic money made in 2009 by Satoshi Nakamoto. The name is also associated with the open source software that he designed, and also uses a peer-to-peer network without centralized storage or a single administrator where the US Treasury calls the bitcoin of a decentralized currency Unlike the common currency, bitcoins do not depending on trusting the major publishers. Bitcoin uses a distributed database and spreads it to the nodes of a p2p network to a transaction journal, and uses cryptography to provide basic security functions, such as ensuring that bitcoins can only be spent by people owning them, and never more than once. The design of Bitcoin allows for anonymous ownership and transfer of wealth. Bitcoin - bitcoin can be stored on a personal computer in a wallet file format or stored by a third party wallet service, and apart from all that bitcoin can be sent over the internet to anyone with a Bitcoin address. The peer-to-peer bitcoin topology and the lack of a single administration make it impossible for any governmental authority to manipulate the value of bitcoin - bitcoin or cause inflation by producing more bitcoin.

Results Using Bitcoin

Possible scenario failures for Bitcoin include currency devaluation, decline in user base, or crackdown on governments to stop software operations. However, it may not be possible for "crypto-like bitcoin." It seems that the decentralization and anonymity contained in Bitcoin is a reaction to the United States government that initiates cyberspace companies such as e-gold and liberty dollars.a irish letter investigating Danny O'Brien's article reporting "When I show people about the Bitcoin economy, they ask: 'Is this legal?' They asked: 'Is this a scam?' I imagine that lawyers and economists are trying hard to answer both questions. I suspect you will soon be adding members of parliament to that list. The legality of Bitcoin's usage is changing rapidly around the world, some countries such as Thailand ban Bitcoin, the German state provides legal status and some countries such as China restrict the use of bitcoin. On February 6, 2014, the Government of Indonesia stated that Bitcoin and other virtual currency are not valid currency or payment instruments in Indonesia. Indonesian people are encouraged to be careful of Bitcoin and other virtual currency. Any risk of ownership / use of Bitcoin is borne solely by Bitcoin owners / users and other virtual currency.

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