What is Bitcoin? What is shape? And what is the function?
What is it? You might just be one of the many people who are curious about how the price of bitcoin continues to soar. Actually, what is it?
What is Bitcoin?
Many people think that it is a very confusing thing, even though is something that can be understood simply.
If asked what is it(abbreviated as BTC), then the simplest explanation is:
Bitcoin is a decentralized global transaction cash system.
Based on the journal written by the inventor (reported in Bitcoin.org), actually this is:
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
Have you ever imagined how the transaction system (sell, buy, transfer money) occurs? Yes, there are always third parties who mediate, for example, banks (interbank transfers), Visa, Mastercard, Paypal and so forth.
Have you (from Indonesia) ever bought goods on Amazon or Paypal? What should the payment system look like overseas? For example, if you use a credit card with the Visa logo, how do you think the payment will work?
What’s the Difference between Visa Credit Card and MasterCard 02 – My Financial Card
Visa and MasterCard credit cards, two types of credit cards that are often used for online payment in Indonesia.
As we all know, every institution providing financial services (including banks) must have their accounting books. Surely there is time, energy and costs that must be spent to be able to run the transaction. That is why we (the customers) incur additional costs (charge).
Continuing our initial discussion, It changed and changed the cash book system into one global accounting system.
Of course, the benefits are reducing time and costs.
Who Invented Bitcoin?