.Lately, many people have become more financially literate, so they learn whatever trends are in effect, one of which is about digital money. Maybe what pops into your head when you talk about digital money is e-money as a substitute for cash that we usually keep in our wallets. However, there is also another form of digital money that has recently become increasingly popular, namely Bitcoin. This digital currency has actually been around since 2009 but has recently become increasingly popular.
You may have heard it many times but you may still be unfamiliar with what Bitcoin is and how it works and why it has such a high value. To find out more, read on for the full explanation!
So, Bitcoin is a cryptocurrency which is a completely virtual type of money Reporting from its official website, Bitcoin declares itself as an innovative payment network and a new type of money. While the BBC, explained in more detail that Bitcoin is often described as a cryptocurrency, virtual currency, or digital. Although similar to e-money in general, Bitcoin cannot be used for transactions anywhere because not all stores accept it.
Each Bitcoin is actually a computer file that is stored in a digital wallet on a smartphone or computer. Owners can send Bitcoins to other users and each transaction will be recorded in a public register called the blockchain.
Bitcoin has many mysteries, ranging from an unknown inventor to a very limited number
Bitcoin was discovered in 2009 by a Japanese person who has been known as Satoshi Nakamoto which is an alias. Reportedly there are several people who claim to be the owner of the alias, but until now his real identity remains a mystery. Reporting from Investopedia, there is only a total of 21 million Bitcoins that can be mined and there have been 18.5 million that have been successfully mined, but there is a possibility that the protocol will change if there is a greater supply.
There are several ways that can be used to get Bitcoin, there is also the term mining used to get it
People can get Bitcoin in several ways, namely buying it for real money, selling something to other people in exchange for Bitcoin, and it can also be made with a computer system. In order for this system to work, people could make their computers used to process transactions for everyone, usually with difficult calculations that made people willing to do complex settings on the computer to get Bitcoin rewards. This process is usually quite long because the Bitcoin system will be set to become more difficult so that production is not too much.
One piece of Bitcoin has a very high value and some people actually prefer this currency to own
Reporting from Morningstar, as of March 9, 2021, 1 piece of Bitcoin has a value equal to IDR 781.7 million. Its high value is because people will be willing to exchange it for goods or services even with real money. This money is also popular after Elon Musk stated that Bitcoin is a good thing and expressed his support through social media in February. They can use it for transactions without being noticed because even though the transaction is recorded, the username is not. Another interesting fact is that Bitcoin is not controlled by governments or banks, nor is its value affected. The higher the difficulty level if you want to mine Bitcoin, most people who want to have it are likely to only be able to buy it for now. How, interested? If you want to invest with Bitcoin, of course you can't be careless. It has to be with sufficient understanding, so that in the future you don't end up losing because you follow the trend but lack of knowledge~