INTRODUCTION OF BITCOIN. Bitcoin is the first decentralized digital currency. Bitcoin is a digital coin that you can send through the internet. Compare to the other alternative, Bitcoin have some advantages. Bitcoin can transfer directly from person to person without going through a bank. So, the fee are much low, we can use the money at every country around the world, our account cannot be frozen, and no pre-requisite to access the bitcoin account. Now, majority of people are busy, does not have enough time to go shopping to the shopping mall and at the same time people want to save their life expenses for example, the life cost on the daily money use by minimize the uses of fuel for their vehicles. That is why nowadays people are more prefer
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By using it, when we want send the money to someone, we can sent it without getting a permission or payment from any third party just like bank. Bitcoin also can be as a credit card, but Bitcoin easiest, faster, cheap and compatible. I said it is easiest because only scan and no need to key in password and take signature, but just only scan the barcode and the customers also no need to give sensitive personal information which happen to the other banks. Bitcoin only take a few minutes for conformation of every single transaction even though between the other countries compare to the other bank it take 2 until 3 days to make a …show more content…
It when by the name Silk Road and only dead in Bitcoin. When FBI shut down the web site, they called it the most sophisticated criminal market place on the internet. Sophisticated because Bitcoin a new cyber currency provided value to anybody who are want to use it. Acoording to the FBI in a two and half years circular have running, more a billion dollars with the illegal goods was pump through the site. This is because, Bitcoin does no need any personal information about the owner if they want to create account of Bitcoin. For an example, if someone robe the bank, then, he put all the money in his Bitcoin account. Even he become as a suspect, the police cannot accuse him because there is no prove where the money go by his name. Government cannot access any account of Bitcoin. The way Bitcoint technology works is, it don’t need bank, you can be your own bank. There is no way the bank can shut down the
By using it, when we want send the money to someone, we can sent it without getting a permission or payment from any third party just like bank. Bitcoin also can be as a credit card, but Bitcoin easiest, faster, cheap and compatible. I said it is easiest because only scan and no need to key in password and take signature, but just only scan the barcode and the customers also no need to give sensitive personal information which happen to the other banks. Bitcoin only take a few minutes for conformation of every single transaction even though between the other countries compare to the other bank it take 2 until 3 days to make a …show more content…
It when by the name Silk Road and only dead in Bitcoin. When FBI shut down the web site, they called it the most sophisticated criminal market place on the internet. Sophisticated because Bitcoin a new cyber currency provided value to anybody who are want to use it. Acoording to the FBI in a two and half years circular have running, more a billion dollars with the illegal goods was pump through the site. This is because, Bitcoin does no need any personal information about the owner if they want to create account of Bitcoin. For an example, if someone robe the bank, then, he put all the money in his Bitcoin account. Even he become as a suspect, the police cannot accuse him because there is no prove where the money go by his name. Government cannot access any account of Bitcoin. The way Bitcoint technology works is, it don’t need bank, you can be your own bank. There is no way the bank can shut down the