Every transaction you do with Bitcoin market can not be canceled, funds can only be returned by recipients. That means you have to be careful to do business only with people or organizations that you know and trust, or those who already have a good reputation. On the other hand, business owners need to control payment requests that are shown to customers. Bitcoin mining can detect typos and usually does not allow you to send money to the wrong address by mistake. Additional services can be made at a later date to provide more choice and security for consumers.
What is Bitcoin?
Bitcoin is a consensus network that enables new payment systems and digital money is fully shaped. Bitcoin is a payment network peer-to-peer decentralized first fully controlled by the user without any central authority or intermediary. From the user's perspective, similar Bitcoin as cash in the internet world. Bitcoin can also be seen as a bookkeeping system three most prominent recording that exists today.
Bitcoin is the first implementation of the concept called "cryptocurrency", which was first described in 1998 by Wei Dai in cypherpunks mailing list, suggested the idea of a new form of currency that uses cryptography to control the manufacture and transactions, instead of using a centralized authority. The first Bitcoin mining specification and proof of concept published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. Bitcoin indonesia community to grow rapidly as the number of developers working on Bitcoin.
There are many businesses and individuals are using Bitcoin. Including physical business in the real world such as a restaurant, an apartment, a law firm, and is also well-known online services like Namecheap, WordPress, Reddit, and Flattr. Although Bitcoin including a new phenomenon, but it is growing very rapidly. In late August 2013, the total value of all bitcoin in circulation exceeded 1.5 billion US dollars, with bitcoin exchange transactions worth millions of dollars to do any hartinya.
Indonesia Bitcoin Price
Bitcoin indonesia transactions are usually carried out within a few seconds and will start to be confirmed within the next 10 minutes. During that time, a transaction that is considered authentic remains irrevocable. Users who do not honestly be trying to cheat. If you can not wait until confirmed, you can improve security by asking for a small transaction fee or a transaction using a detection system that is not safe. For a large number like 1000 dollars, confirmation should wait until 6 or more. Each confirmation exponentially minimize the risk of cancellation of the transaction.
Bitcoin stock is not the official currency. That is, most countries still require you to pay income tax, sales, payroll and capital gains tax on any value including bitcoin. It is your responsibility to ensure that you comply with tax and other legal rules or policies issued by your government and / or policy makers in your area.
Bitcoin prices always change at any time, to check the price of bitcoin to rupiah or check bitcoin to rupiah exchange rate is especially important if you want to make buying and selling bitcoin. Check the latest bitcoin mining or exchange rates BTC to IDR is updated according to the last price before you make a transaction will greatly help you in deciding the purchase or sale of Bitcoin.
What are the advantages of using Bitcoin?
- Freedom Payments - Allows you to send and receive money instantly anytime and anywhere. There is no bank holiday. There are no national boundaries. No restrictions are imposed. Bitcoin gives users full control over their money.
- Cost is very low - the current Bitcoin payments are processed at no cost or at a very low cost. Users can enter the costs in the transaction to acquire the processing priority, so it gets faster transaction confirmation by the network. In addition, sellers processor is there to help the seller in the transaction processing, change bitcoin into conventional fiat currency, and put money directly into the seller's bank account every day. Because all of these services based Bitcoin, the cost required is much lower than credit card or PayPal network.
- Low risk for the seller - Bitcoin transactions are very secure, can not be undone, and do not contain any personal or sensitive information from customers. This is to protect sellers from losses due to fraud or chargeback fraud, and does not require adjustment of PCI. Sellers can easily expand into new markets where credit cards are not available and the level of fraud is very high. The end result of Bitcoin is lower costs, wider market, and fewer administrative expenses,
- Security and control - Bitcoin Users have full control over their transactions; it is impossible for the seller to make unwanted bills or considered as can happen with other payment methods. Bitcoin payments to be made without including personal identintas to process the payment. This provides strong protection from identity thieves. Bitcoin users can protect their money with the backup and encryption.
- Transparent and neutral - All information related to the supply of money Bitcoin has been provided in the chain-block for anyone who wants to verify or to use it in real time. No individual or organization can control or manipulate the Bitcoin protocol because it is very secure cryptographically. This allows the core Bitcoin to be completely neutral, transparent, and predictable.
What are the disadvantages to use Bitcoin?
- The rate of acceptance - Many people are still not aware of the existence of Bitcoin. Every day, more and more businesses that accept bitcoin because they want the benefits of using bitcoin, but still only a list of users is still small and need to grow to benefit from network effects.
- Volatility - The total value of bitcoin in circulation and the number of businesses using Bitcoin is still very small compared deserves. Therefore, small occasions, trade, or business activity can significantly affect the price of bitcoin. In theory, this volatility will be reduced as the development of market and technology Bitcoin. Previously there was never created their own currency, so it is very difficult (and interesting) to imagine the development of what will happen next.
- Ongoing development - Bitcoin software is still in beta with many features that are still incomplete actively developed. Devices, features, and new services are being developed to make Bitcoin more secure and easily accessible to the public. Some of this development is still not ready for everyone. Most businesses Bitcoin is still relatively new and not offer insurance. In general, Bitcoin is still in the process of maturation.
Most confidence in Bitcoin comes from the fact that Bitcoin does not require belief at all. Bitcoin is fully open-source-based and decentralized. This means that everyone has access to the entire source code at any time. All developers in the world can verify exactly how Bitcoin work. All transactions and bitcoin published can be viewed in a transparent and real-time by anyone. All payments can be made without depending on third parties and the entire system is protected by a peer-reviewed cryptographic algorithms as used in online banking. No organization or individual can control Bitcoin, and keep networks secure although not all users can be trusted.