Bitcoin is cryptocurrency.
Or in simpler language, the digital currency (digital currency).
Bitcoin was created by 'Satoshi Nakamoto' in January 2009. In contrast to the virtual currency, Bitcoin can be used as an exchange medium for possessing goods and services in the real world. Of course, by those who accept bitcoin as a mode of payment.
Bitcoin is also a decentralized digital currency. That is, unlike the Malaysian Ringgit controlled by Bank Negara Malaysia (BNM), Bitcoin has no financial regulator like BNM. Since it is a decentralized digital currency, there is an important activity that allows this bitcoin to function well as a currency bitcoin mining.
3 Characteristics of Bitcoin
The author believes, in addition to want to know what is Bitcoin, you still want to know what is really there? Is it safe to deal with Bitcoin? and so forth.
Let's just discuss the characteristics of Bitcoin.
Characteristic 1: Bitcoin as the Payment System
Characteristic 2: Bitcoin as Digital Gold
One of the oldest investments is gold investment. People (from ancient times to the present) viewed gold as a high-value object.
Is it true that gold is worth? Gold also has no value, gold says a boulder.
Then where to Assess gold? There is a color, because everyone has a certain value (you can see: the price of gold to know the latest price).
Why are people issuing gold more important than any other stone?
The answer is that gold has a unit that makes it a "store of value or store value" that is:
The amount of gold in this world is limited and expensive. Gold has properties that are soft and can be melted and formed into small units.
Bitcoin has all the same characteristics as gold, such as:
The amount of Bitcoin is limited, ie there are only 21,000,000 Bitcoins in the world.
Bitcoin can be broken down into smaller units without losing the value of the unit (1 Bitcoin = 100,000,000 Satoshi - an interactive unit of Bitcoin, just like grams in Gold). We can buy less than one Bitcoin.
Bitcoin technology is also stable and will not experience degradation.
It's very difficult to make fake Bitcoin, because of the Blockchain system.
You can set Bitcoin anywhere in the world in minutes, regardless of the amount of Bitcoin.
That's why people call Bitcoin a digital gold, but better digital gold. In essence, Bitcoin looks like gold - this is why people call Bitcoin a 'digital gold' or 'Gold 2.0'.
Karakteristik 3: Bitcoin Mirip Internet
Is Bitcoin Becoming a Digital Currency Revolution?
So, if asked, what is Bitcoin? You can imagine a container (bucket) in which there is a debit card (or credit card), gold and internet.
It's all so Bitcoin.
Disclaimer:
The above article is from Luno and curated by my finance editor team by adding some additional information from additional reference sources.
The above article aims as a means of education, not as a suggestion of investing or speculating.
Additional Resources Resources:
CNN Money. What is Bitcoin? Money.cnn.com - https://goo.gl/S8tsmi
Nakamoto Satoshi. Bitcoin: A Peer-to-Peer Electronic Cash System. Bitcoin.org - https://goo.gl/mEYmqQ
Bitcoin As an Investment?
So far I have never been involved in any Bitcoin deals.
And I see Bitcoin as a medium of exchange.
Citing Warren Buffett's words:
Whether the currency a century from now is based on gold, seashells, shark teeth, or a piece of paper (as today), people will be willing to exchange a couple of minutes of their daily labor for a Coca-Cola or some See's peanut brittle. In the future the U.S. population will move more goods, consume more food, and require more living space than it does now. People will forever exchange what they produce for what others produce.
If it is an investment asset, then of course the rule of investment applies. Among them, being careful with a promising opportunity can be a bitcoin millionaire with an instant blink.
Bitcoin Halal Or Illegal?
There can be situations.
If Bitcoin has been agreed upon as a currency. So of course Shariah law of 'sarf is adopted. The law is the same as trading gold, silver and paper money.
If this Bitcoin is finally a digital commodity, then buy and sell it as you please.
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