Let's Get To Know All The Terms In Bitcoin

Know the Terms In Bitcoin - Diera today's digital progress who is not familiar with bitcoin. The word bitcoin may be very familiar to most people. Bitcoin is the virtual currency that data is used to transact online. Bitcoin is not like the physical currency of a bank. Bitcoin is not a country's currency either. You need to know, bitcoin form is just a file.

Like common files you usually find. Unlike other currencies such as dollars, dollars and others that can be touched hands. Moreover, it is used to transact offline. In bitcoin sometimes there are some terms that are difficult to understand. Before you start mining bitcoin. It's good you also have to recognize the terms that exist in the world of bitcoin. So when you start trading with bitcoin you are not confused anymore. What are the terms? Here's the explanation:

1. Wallet
   Wallet or bitcoin wallet can also be called bitcoin wallet is a bitcoin storage account. The bottom bit of the bitcoin you are looking for on the internet will be stored bitcoin for a while before you sell it.

2. PO (payout)
   PO or abbreviation of payout means payment. If you are looking for bitcoin in one of the free bitcoin sites, by following the steps already set by the site then you will be paid using bitcoin. These payouts are called payouts

3. BTC
   BTC is an extension of bitcoin. BTC is often used in conversation. This is done so that the pronunciation is not too long. Missal like 1 btc means 1 bitcoin

4. WD (withdraw)
   WD or abbreviation of Withdraw means almost the same as payout. What distinguishes is payout is a payment that has entered your kerekening, while withdraw is the process of transfer payments from bitcoin sites that you follow keallet or your bitcoin wallet

5. Satoshi
   Satoshi is a fraction of the nominal bitcoin. Satoshi can also be said to be the value behind the comma of btc or bitcoin. This term is often used when the nominal value used for transfer of kewallet is less than 1 bitcoin. Eg 0.00100000 bitcoin means 100,000 satoshi

6. MBTC
   MBTC is an extension of micro-bitcoin. This term is usually used to minimize the use of the nominal value of btc behind the comma or the use of the satoshi language. The calculations are usually in the form of hundreds of thousands of satoshi. For example 0.00010000 btc means 100.000 satoshi meaning 1.0000 mbtc or 1 mbtc

7. Bits
   Just like satoshi, bits are also fractions of nominally bitcoin other than called bits usually called ubtc. But 1 bits more than satoshi. 1 bits equivalent to 100 satoshi or 0.00000100 bitcoin. The nominal value in bitcoin typically uses digits up to 8 digits behind the comma.

8. Scam
   Scam means fraud. Usually a scam is used to declare sites or businesses that do not pay members. Nowadays many online businesses are proven scam. Jai you have to be careful in choosing an online business

9. Ripper
   Unlike the scam, the ripper is the person or group that commits fraud (Scam). They ripper can do various kinds of fraud mode. Starting from opening a scam business and there is also a fraud with the mode of buying and selling bitcoin. Bitcoin and other trading services. You should be careful about choosing people to do bitcoin transactions

10. Mining
    The term mining is usually used to mine bitcoin. Mining is divided into 2 types, namely mining hardware and cloudmining. Mining bitcoin usually uses a special mine tool called minner

11. Minner
    Minner is a mining device used to obtain bitcoin. So for those of you who want to get bitcoin this tool is very important to use.

12. Cloud-mining
    The term cloud-mining means mining bitcoin leat internet media. Usually by hiring a tool called hastrate, for example: 100mhs and 100ghs

13. Block
    This term is commonly used in bitcoin mining. Can also be interpreted as a collection of transaction data collected menjai one.

14. Blockchain
    Blockchain is a list of blocks that have been mined since the beginning of cryptocurency

15. Cryptocurency
    Cryptocurency is a currency based on math or digital money

16. Exchangers
    While the exchanger is a place for exchange kedo bitar, rupiah and other currencies

17. Giveaway
    Giveaway means sites or people who are distributing free bitcoins for free

18. Faucet
    Faucet means a website that provides free bitcoins in the duration of 5 minutes to 1 hour depending on the owner of the site. How it works like PTC.

19. Altcoin
    Altcoin is the same digital currency as bitcoin like LTC, dogecoin and so on

20. Pump
    Pump means raising the bitcoin price

21. Dump
    While dump means to lower the price of bitcoin. Or the opposite of the pump

22. P2P
    Peer to peer can also be interpreted to transact without a third party. Bitcoin and altcoin transaction systems use P2P systems

23. Depo (deposits)
    Depo means charging balance. In the word bitcoin word depo is often used if someone invests

24. Money supply
    Money supply is the amount of bitcoin which is not more than 21 million btc. Btc is limited to only 21 million bitcoin or btc

25. investment
    Investment is an investment with the aim of benefiting from the capital invested

Those are some terms that are often used in bitcoins. Hopefully the above information can be useful for those of you who are new or are banishing bitcoin.