{"id":2060,"date":"2023-11-07T15:03:24","date_gmt":"2023-11-07T15:03:24","guid":{"rendered":"https:\/\/matob.web.id\/random\/?p=2060"},"modified":"2023-11-07T15:03:24","modified_gmt":"2023-11-07T15:03:24","slug":"bitcoin-revolution","status":"publish","type":"post","link":"https:\/\/matob.web.id\/random\/bitcoin-revolution\/","title":{"rendered":"Causes of the Bitcoin Revolution"},"content":{"rendered":"

Bitcoin is the name of the\u00a0best and most popular\u00a0cryptocurrency (\u00a0Cryptocurrency)\u00a0<\/em>today, just like the Euro for countries in Europe.<\/p>\n

But unlike the Euro and US Dollar which are in the form of paper money \/ coins, Bitcoin<\/a> is digital (without physical form) and decentralized (not related to third parties eg banks).<\/p>\n

It only exists in the digital world and is in the form of computer code.<\/p>\n

What is Cryptocurrency?<\/strong><\/h2>\n

\"Cryptocurrency\"<\/p>\n

In a simple sense,\u00a0Cryptocurrency<\/em>\u00a0can be interpreted as\u00a0Cryptocurrency\u00a0<\/em>.\u00a0But it can also be defined as a medium of exchange for Bitcoin.<\/p>\n

It’s the same as paper or coins for fiat currency (Euro \/ USD).<\/p>\n

Crypto\u00a0<\/em>itself has a meaning as\u00a0Data Encryption\u00a0<\/em>(Data that is encrypted).<\/p>\n

Ensure that crypto currency transactions remain safe by specially encoding the data in it.<\/p>\n

Just like Bitcoin,\u00a0Cryptocurrency\u00a0<\/em>also does not have a physical form.<\/p>\n

What is Blockchain?<\/strong><\/h2>\n

Blockchain<\/a> is the name for the technology that supports the existence of\u00a0Cryptocurrencies\u00a0<\/em>and their types such as Bitcoin.<\/p>\n

Blockchain is a platform for operating cryptocurrencies through a very wide computer network.<\/p>\n

Knowing these three things can be very confusing.<\/p>\n

Not a few people are confused about how cryptocurrencies\u00a0work,\u00a0<\/em>and how these three things have become very popular over the past 5 years.<\/p>\n

For example, Bitcoin, in addition to appearing and circulating since 2009, but its true identity or creator is still unknown until now.<\/p>\n

Information that is known to only Bitcoin was developed by the pseudonym Satoshi Nakamoto.<\/p>\n

The basis for Satoshi Nakamoto is just trying to find a solution to the potential defects that exist in the digital banking industry, namely\u00a0Double Spending\u00a0<\/em>.<\/p>\n

Definition of Double Spending in Crypto<\/strong><\/h2>\n

Double\u00a0<\/em>spending is a potential weakness that occurs in digital cash schemes, where the same single digital token can be used more than once.<\/p>\n

As analogous to physical cash, this double expenditure can be likened to the use of counterfeit money,<\/p>\n

where spending runs the risk of causing inflation because it creates and increases the money supply.<\/p>\n

With the inclusion of Bitcoin is believed to solve the problem of\u00a0Double Spending\u00a0<\/em>.<\/p>\n

Because it is decentralized or does not have third party intervention.<\/p>\n

Bitcoin is regulated by a community of users\/owners.\u00a0This community records all transaction history data at the same time.<\/p>\n

Any action with the aim of manipulating the Bitcoin community will be immediately tracked and any payments made in it will be automatically rejected.<\/p>\n

No single user, government, bank, or credit card company has control over the flow of Bitcoin<\/p>\n

Problems Around the World of Bitcoin and Cryptocurrency<\/strong><\/h2>\n

Although decentralized and almost said to be a fitting replacement for the gap in the banking world.<\/p>\n

But as said before, bitcoin is not perfect and has its own problems.<\/p>\n

Bitcoin is known to be very volatile in value and is volatile (Can go up \/ down in a short time).<\/p>\n

For example, the price of Bitcoin on April 14, 2021 is worth around US$64,000\/png.<\/p>\n

But less than a week after that, April 23 to be exact, the price of Bitcoin suddenly dropped to around US $ 50,000.<\/p>\n

The reason for this is none other than because Bitcoin adheres to the\u00a0Demand & Supply<\/em>\u00a0system\u00a0.\u00a0<\/em>Or it can be said that the price is determined based on the existing stock in the market.<\/p>\n

If the market demand is high and the stock is running low, the price will rise.\u00a0If the market demand is low but the stock is large, the price will fall.<\/p>\n

Fluctuations are only the first problem, while the second problem that is increasingly following Bitcoin is the problem of security in digital wallets (\u00a0Wallet\u00a0<\/em>)\u00a0.<\/em><\/p>\n

Digital Wallet (Wallet) where Bitcoin is stored.\u00a0Photo : token.im<\/em><\/p>\n

Bitcoin or other types of crypto currency that are in digital wallets, as we know the data is stored on\u00a0Smartphone\u00a0<\/em>devices\u00a0or computers.<\/p>\n

Thus the data will be very vulnerable to being hacked or exposed to other types of cyber crimes.<\/p>\n

The Cause of the Famous Cryptocurrency<\/strong><\/h2>\n

Not only Bitcoin, in the digital world today there are more than 4000 types of cryptocurrencies (\u00a0Cryptocurrencies\u00a0<\/em>) spread all over the world.<\/p>\n

Each of these cryptocurrencies has its own ups and downs, just like Bitcoin.<\/p>\n

For example, Ripple, Ethereum, Litecoin, Gridcoin, Binance Coin, and many more.<\/p>\n

Not to mention thanks to the rise of Dogecoin due to the tweets of Elon Musk, the founder of Tesla and Space X.<\/p>\n

Making crypto bearing the Shiba Inu breed skyrocketed and making crypto even more popular.<\/p>\n

Although popular, not all countries in the world agree on the use of Bitcoin.\u00a0There are those who agree, such as the UK which made its own cryptocurrency, namely Britcoin.<\/p>\n

And there are those who reject it like America by increasing the asset tax for digital asset owners.<\/p>\n

In short, playing in the crypto world is like gambling.\u00a0Where investors must be prepared to win a lot or lose badly<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is the name of the\u00a0best and most popular\u00a0cryptocurrency (\u00a0Cryptocurrency)\u00a0today, just like the Euro for countries in Europe. But unlike […]<\/p>\n","protected":false},"author":1,"featured_media":2064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[205,232,231,230],"class_list":["post-2060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-bitcoin","tag-blockchain","tag-cryptocurrency","tag-finance"],"_links":{"self":[{"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/posts\/2060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/comments?post=2060"}],"version-history":[{"count":1,"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/posts\/2060\/revisions"}],"predecessor-version":[{"id":2450,"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/posts\/2060\/revisions\/2450"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/media\/2064"}],"wp:attachment":[{"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/media?parent=2060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/categories?post=2060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/matob.web.id\/random\/wp-json\/wp\/v2\/tags?post=2060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}