Bitcoin is an encrypted currency and electronic payment system invented by an indefinite programmer, or a group of programmers, under the name of Satoshi Nakamoto. Nakamoto Petcuen was presented on October 31, 2008 on a mailing list for encryption, and was launched as an open-source program in 2009. The system is point-to-point, transactions are performed between users directly, without intermediaries. These transactions are verified through the network nodes and are recorded in a general ledger named blockchain, which uses Bitcoin as an account unit. Because the system works without a single central repository or administrator, Bitcoin is called the first decentralized digital currency. Bitcoin is the largest of its kind in terms of total market value.
Bitcoins are created as a reward in a competition where users submit their own computational capability to check bitcoin parameters and record them in blockchain. This activity is known as mining, successful miners are rewarded with newly created transaction fees and bitcoins. In addition to obtaining them through mining, they can be exchanged for other currencies, products and services. By sending bitcoins, users can pay optional transaction fees to miners. This can speed up the transaction being confirmed.
As of February 2015, more than 100,000 dealer and supplier are accepted as a down payment. Instead of a 2-3% fee typically imposed by credit card processors, traders who accept a payment will pay a fee of 0% to less than 2% of the total purchase. Despite the quadruple increase in the number of traders who accept Betquin in 2014, the currency has not had much momentum in retail transactions. The European Banking Authority and other sources have warned that KFH users are not protected by the rights of restitution or repayment of the payments.
According to research conducted by the University of Cambridge in 2017, there are between 2.9 million and 5.8 million unique users actively using a set of coded currencies, mostly with Bitquin. The number of active users has increased significantly since 2013 (at that time there were 0.3 to 1.3 million unique users).Bitcoin to Indonesian Rupiah Crypto Currency Converter btc
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