Review on Bitcoin by MUHAMMAD ARDI FERDIANSYAH
Profile bitcoin and experience
Bitcoin itself is a digital asset that was developed in 2009 by Satoshi Nakamoto (Pseudonym). Referred to as digital assets because bitcoin itself is only available in digital.
bitcoin is used for transactions on the internet without using intermediaries or not connected to bank services. Bitcoin uses the Peer to Peer (P2P) system to operate, without central authority or central bank, transaction management and bitcoin issuance is carried out collectively by the network.
Bitcoin characteristics
Has no physical form
The number of bitcoins is very limited, it is estimated that there are only 21 million bitcoins
Can be broken down into small numbers without losing unit values such as 0.001 Bitcoin.
Bitcoin is stable and will not experience degradation
There is no fake bitcoin because it uses the blokchain system.
Can be transferred anywhere via virtual channels
The Advantages of Bitcoin
Bitcoin has no boundaries, territorial borders or limits in the form of banking and state policies or regulations. Because bitcoin transactions can be done across countries without any related rules.
Bitcoin transaction services are very low
Bitcoin is very safe and efficient. So as to minimize user risk
Bitcoin is very transparent because information about bitcoin can be seen by all users
Bitcoin is not affected by inflation
Bitcoin owners can hide their identities (Anonymous)
Lack of Bitcoin
Bitcoin acceptance as a means of payment is still very minimal
The bitcoin exchange rate fluctuates due to a variety of factors such as the number of bitcoins in circulation, the number of users less than traders, the influence of economic news and the existence of hacking.
Bitcoin software is still not final so it can change at any time
Can be used as a washing for criminals
Can be lost due to human error such as the loss of hard disks forging bitcoin. Automatically, bitcoin is also lost.
review : "
the first time I invested bitcoin is very convenient to use because the price is stable and in almost all exchanges there is a bitcoin currency but after a while the deficiency is very expensive if you want to take money with a small value for a very large withdrawal fee"
Pros
- stabile price
- hight value
- must be used on all exchanges
Cons
- very expensive
- hight fee
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Comments (1)
August 08, 2020
This is well composed and itemized. The pros and cons of bitcoin are well arranged. This will help future investors in deciding the best course of action and way to invest in bitcoin.
