Actually, What are the Benefits of Bitcoin?

February 19, 2018

If asked about what is bitcoin? Bitcoin is a payment system innovation in the form of virtual currency. This currency can be found in best pcie risers for mining. Apart from that, bitcoin as currency has the following features!

1. Instant transfer in peer to peer.
2. Can transfer to anywhere
3. The transfer fee is very small.
4. The transaction is irreversible, meaning once transferred cannot be canceled.
5. The bitcoin transaction is anonymous.
6. Bitcoin is not controlled by any agency or government.
7. The number is limited

Bitcoin is developed by the idealism that a currency does not always have to control by the government or central bank. The financial crisis some time ago confirms that the government is always negligent in maintaining economic stability. This concept appeals to many people especially geek in the IT world. They start investing their assets in bitcoin, while the world’s economy is increasingly unstable as evidenced by the banking crisis of America and Europe. And this is evident, see this year alone (January 2013) 1 BTC (bitcoin currency unit) is traded at a price range of 13 USD until at the end of 2013 1 BTC the price reached 860 USD. Currently in February 2016, the price of 1 BTC reaches 381 USD. Bitcoin also has two very interesting features that are anonymous and very low transaction costs (almost 0). You can make transactions without giving identity at all, and it can keep your privacy to the highest level. You might think that an open source bitcoin system allows a genius computer to break into a bitcoin system and publish a number of bitcoins for itself. In fact, this system has been reviewed by various circles as flawless. Any past transaction data is stored in all peers across the network and should be in order. Each new transaction will be verified by a number of newly declared valid peers.

Eula G. Snow

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Eula G. Snow