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Thursday, September 21, 2017

What is Cryptocurrency? History and Complete Explanations

Maybe some of you have heard about doing business using Bitcoin, paying using Bitcoin, invest using Bitcoin or buying credit with Bitcoin. Bitcoin itself is one type of Cryptocurrency.

Then what exactly is called Cryptocurrency?

Cryptocurrency consists of Crypto and currency, so when viewed in terms of language then it means "Secret Currency", because Crypto means secret and currency is currency. This meaning is somewhat similar to the sense in terms of the term, namely "Currency of a digital and secret".

So Cryptocurrency is a currency in the form of digital (digital / virtual currency) and also is confidential. Of course, because of the digital form there is no physical form, except agan make yourself from gold or other metals with the same value. But although it is not physical, this currency still has value, like agan who can buy a Laptop or Smartphone from Apple using Bitcoin.

The first cryptocurrency made is Bitcoin, so Bitcoin is most famous everywhere. Bitcoin
made by an "Anonymous" named Satoshi Nakamoto. Well, after Bitcoin appears, eventually also appear other coins, such as Altcoin (Alternative Coin), such as Litecoin, Dogecoin, Ethereum and etc.

The nature that distinguishes Cryptocurrency from common money is its decentralized and secretive nature. Decentralized means that this currency is not regulated by a particular person / organization, including its own maker. So the price can go up and down, can be expensive and then dump free fall so very cheap.

Cryptocurrency is also confidential, because its name is also "Crypto". Cryptocurrency uses cryptographic methods to secure and keep transactions secret. Keep in mind that many criminals in Deepweb are transacting using Cryptocurrency because the FBI will not even know someone sent to someone else to pay for something, if using Cryptocurrency.

The natural way to get Cryptocurrency is to mine with a computer, but the meaning of mine does not mean digging something. How to mine the computer is by completing transactions from other users. So like you take care of other people's transactions, then get paid. But this way is very wasteful money; wasteful electricity costs and must use a good computer so as not to be damaged quickly used to mine.In addition to mine, there are dozens of other ways to get Cryptocurrency, one of which is with Paid Games such as Goldsmugglers.

Just info, the price of 1 Bitcoin when this article was made on 21 September 2017 in the range of USD3.981, meaning USD3.981 × Rp13.000 = Rp51.097.600. WOW !!

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