Bitcoin's fever has swept the world. For some people, crypto currency or cryptocurrency is the future, but for some others, virtual currency is considered a disaster that can come at any time.
From Bitcoin, Litecoin and Ethereal to newcomers like Zcash and Ubiq, there are now over 1,000 different virtual currencies to choose from.
The question is, are you sure to join the world of crypto currency? This question still echoes since 2009, when Bitcoin first appeared out of nowhere.
Reported by Science Focus, for many years, there are many opinions about the presence of digital currencies, including Bitcoin. Some agree, some are not. But according to the creator, Satoshi Nakamoto, Bitcoin is different.
According to him, Bitcoin can operate entirely independently without the support of the government, regulators or banks, but still trusted by many people.
To counter this, the global financial system will rely on electronic clearing that oversees every transaction to stop fraud. Because although there is no fake crypto currency, there are people who can commit system fraud.
Yet Nakamoto claims that he has found a way to prevent this. Simply put, Bitcoin works by turning information about every new transaction into a mathematical form, which is impossible to read or change, and then put in a permanent electronic ledger, known as blockchain.
Blockchain does not stay in one place. It is spread across multiple virtual networks, resulting in a fast, efficient, and reliable global electronic currency system.
Not depending on the government or the bank about finance seems to be a motivation Nakamoto Bitcoin present. When Bitcoin was first launched, the world was in the grip of the worst financial crisis since the 1930s.
"One of the reasons why Bitcoin captures the imagination of many people is because it holds the promise to democratize finances," said David Orrell, co-author of The Evolution of Money.
Yes, one of the keys that make Bitcoin start ogled at this time is the ability that can conduct transactions outside the bank system. Will Bitcoin and other crypto currencies really become human currency in the future?
