1 Inventor of Bitcoin Still Being a Mystery Up To Now
Since the birth of Bitcoin in 2009, there has been speculation about who it really is "Satoshi Nakamoto" touted as the originator of the first crypto currency. Whitepaper Bitcoin is made open to the public under the pseudonym of Satoshi Nakamoto, and his identity remains an unsolved mystery.
In the midst of this confusion, there are some people like Craig Wright, an Australian businessman, who in May 2016 claimed to be the inventor of Bitcoin. However, after further scrutiny, he is not the real Satoshi Nakamoto, and only one confesses to me. He and his friend tried to make the SCAM project through Bitcoin Cash currency, and made many innocent users lose the money invested.
Other speculations about Satoshi Nakamoto's real readiness are even more "odd" for mentioning the technology companies Samsung, Toshiba, Nakamichi, and Motorola are the creators of Bitcoin. A number of people attribute the extension of Satoshi Nakamoto's name as:
"Samsung and Toshiba - Satoshi"
"Nakamichi and Motorola - Nakamoto"
The unique fact of Bitcoin on this one has led to italic comments appearing like Bitcoin is a Ponzi Scheme, but unable to stop the growth rate of Bitcoin adoption. Since Bitcoin's goal is to become a decentralized method of money exchange, this anonymity is indispensable to its network platform.
2 Bitcoin Not Traced, But It Can Be Traced
Is not it a little strange to hear the term "Bitcoin not traced, but still traceable"? However, this is a unique fact of Bitcoin that really happens in many cases.
When creating a transaction on a Bitcoin network, the name (user identity) is not used in any form, except for the public address only available. However, Blockchain Bitcoin is a transparent permanent ledger. When someone knows the Bitcoin public address, they can see how many bitcoins are owned and what transactions and to whom the transactions are made. That's how the FBI is able to sniff and capture the owner of Silk Road.
Silk Road is the online black market and the first modern blacknet market best known as the drug sales platform. Security of the Dark Web site is very strict and anonymous, because it uses the service berbasi Tor. Thus, online users can explore it anonymously and securely without monitoring legal traffic. The Dark Web Marketplace site was launched in February 2011, and has brought together thousands of sellers and buyers of forbidden goods by acting as an escrow like the average marketplace.
In October 2013, the Federal Bureau of Investigation (FBI) succeeded in sniffing out the owner of the black market, and arrested Ross William Ulbricht on charges of providing a buying and selling place for illegal goods. On November 6, 2013, Silk Road 2.0 was back online, which was allegedly run by former executives at Silk Road before. The site eventually did not escape the FBI, and again closed on November 6, 2014. Former Silk Road administrator was also arrested on the same charge with Ulbricht.
3 Losing Private Key = Losing Everything
Someone named James Howells lost 7,500 BTC units in November 2013, when he cleaned up his workspace and accidentally dumped his hard disk containing Bitcoin Private Key that he had kept since 2010. He just realized when reading the news about a man Norway which has a great advantage after buying BTC for a cheap price.
Private Key Bitcoin
Currently, the value of 7,500 BTC is about $ 61.87 million, or about Rp. 835 billion. However, without a private key, funds will be lost forever in the network and will not be possible to be restored.
To date, it is estimated that about 25% of the total Bitcoin total has been lost forever due to user negligence.
4 Mining With Supercomputers
Unlike the traditional banknotes printed and issued by the Central Bank of a country, the creation of Bitcoin is by way of mining. Bitcoin is mined in a blockhain network, and some BTC units will be released as new blocks are created, as rewards to miners already participating in the creation of a particular block.
To date, the mining power of Bitcoin's network has been 300 times stronger than the world's top 5 supercomputers combined:
MIRA (USA)
K Computer (Japan)
Sequoia (USA)
Titan (USA)
Tianhe-2 (China)
5 Bitcoin Has Growed "Crazy"
In the first year Bitcoin began to be released, 1 BTC unit is priced just under 1 cent ($ 0.0015) only. However, by the end of 2010, Bitcoin's price shot up to record 20.666% or 206-fold growth from the beginning of the year.
Growth continues as the table above. In fact, Bitcoin had scored the highest point in late 2017 close to $ 20,000 level before finally fell to the level of $ 13,769.
I deliberately missed the year 2014, because in that year the price of Bitcoin plummeted and caused a loss of 72% for investors. The sharp decline occurred as a result of the hacking incident of Mt. Gox in 2014 that drastically decreased interest in Bitcoin ownership. However, the public knows that the error lies not in the Blockchain Bitcoin network, but on the platform of the Mt. Gox.
6 Bitcoins Can Not Be Banned
Due to the anonymous nature of Bitcoin, many parties are constantly supporting the ban on the crypto currency. This concern arises because Bitcoin resides and works outside the jurisdiction of the traditional banking system, and is considered a real threat. However, the fundamental design is made perfect, so Bitcoin can never be banned, it can only be arranged. As long as the user has an internet connection and a Bitcoin wallet, the transaction activity can easily be done and is anonymous, untraceable.
Many countries have tried to ban it, such as Bangladesh, Bolivia, Thailand, Vietnam and Indonesia. But there are also some countries like Australia, Russia, Japan and Venezuela that have made Cryptocurrency the official means of payment and governing it with the legal framework of the government.
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