Born And Shine
Cryptocurrency increasingly affects human needs in financial transactions, both payments, sales and investments. The pace of technology is not only seen from surfing the internet with the google application for example. In addition, digital technology also touches on the fundamental aspects of humanity without reducing it to call it the only major need of modern society – in everyday human life, namely money as a medium of exchange.
We know that the money that generally applies in the world today is physical money that we know about since we get pocket money from parents.
But apparently, in this dynamic modern world, besides physical money – whether dollars, rupiahs, dinars, riyals, yen or yuan – there is also money in a virtual form called cryptocurrency.
Cryptocurrency. It’s hard to find the meaning of the word. Even the Encyclopedia has not entered an entry, especially if we look for equivalents in the Big Indonesian Dictionary.
Literally, cryptocurrency may be broken down from cryptographic words (cryptography / secret codes) and currencies (currencies).
So called because virtual currencies are created by involving disciplines related to the security system of a communication code or secret code.
That’s also why virtual money isn’t called, for example, virtualcurrency.
Cryptocurrency was first designed by David Chaum, a computer science and business administration doctor who graduated from the University of California, United States. In the 1980s, Chaum designed an algorithm that was very safe and allowed encryption (encoded / password) to make electronic fund transactions.
Quoted from Forbes, in the late 1990s, Chaum, who at the time lived in the Netherlands, founded the DigiCash company with the intention of being a “gateway” for electronic money transactions directly to individuals.
Unfortunately the Dutch government at that time reacted by imposing large restrictions on the company, which forced DigiCash to only trade with licensed banks.
This severely limits company profits. Finally, after a decade of struggling and partnering with Microsoft, DigiCash went bankrupt in the 1990s.
Cryptocurrency has only been popular since around 2010. The popularity of cryptocurrency was brought about by the discovery by Satoshi Nakamoto, someone or maybe a group of people who have not even known their identity.
Mysterious is inherent in cyberspace, where people can hide themselves behind other names, or even various other online accounts.
Starting from the introduction of BITCOIN to the world in certain forums. Start them (a group of people I also don’t know) discussing online and offline discussing the uses, security, effectiveness and benefits of using crypto itself. How to transact online open, transparent, detailed but still maintain the confidentiality of the identity of the transactor starting from the name, address, or location of the sender and recipient. Incredibly, how things like that can happen, yes, I don’t understand too
I am reminded of a story when the commencement of virtual bitcoin currency transactions began. There is an online pizza buyer whose payment uses bitcoin. 10,000 bitcoin is only for 2 packages of pizza if sold at a price now we can buy pizza for one city and even a neighboring city. Just imagine how many people are happy with free pizza.
The development of bitcoin isn’t there. There are several companies that pioneered or supported the exchange rate of bitcoin to USD, Euro and Brazil at the beginning of this trip. One of them is Mt. GOx is a large-scale promotion but was forced to close due to a hacker attack and they have to return the customer’s funds according to the court’s decision.
Bitcoin markets and prices automatically dropped at that time and communities and developers tried to rise from the fall. They incessantly again advertise the bitcoin currency to the public.
The good news came from wordpress like a fresh breeze. The website domain company accepts domain payment using bitcoin considering that paypal payments are still limited in some countries at that time.
Bitcoin prices skyrocketed because they began to be accepted in the world. With so many internet projects that use payment through bitcoin, bitcoin prices rise fantastically. The age of bitcoin itself is a reference to why the price soared with new coins popping up. The price of the new coin also refers to the rise and fall of bitcoin prices on the world currency market.
At the end of 2017 the price of bitcoin reached USD 20K from the price of 1.2K USD. Very fantastic price of a virtual currency. Because of people’s trust in digital assets.
The price of bitcoin has dropped down due to regulations from the government in several countries. For now the price of bitcoin ranges from 6000-7000 USD. But who knows the price of bitcoin later ?? 120K USD ?? 240 USD ?? Or 1000K USD ?? Who can know ?? We’ll see.