Bitcoin and digital currency (cryptocurrency) are increasingly popular in Indonesia. In May, the BitCoin 1 chip had an Rs exchange rate of 20 million. However, some people question the future of digital currency, especially price fluctuations and transaction security. Oscar Dermawan, CEO of Bitcoin Indonesia, said cryptocurrency is a remarkable technical achievement. Previously, Microsoft founder Bill Gates had a similar view.
Oscar shows that there are several reasons why digital calls are different from previous versions. One reason is that BitCoin and other digital calls use systems that run independently of centralized servers. All servers are distributed and all transactions are automatically verified without human intervention.
This distributed system can not lock the supply of a certain amount of BitCoin and increase it beyond the specified amount. "The operation of this system is technological advancement even by Bill Gates," BitCoins is a technical achievement. "As long as there's only one user, BitCoin users will not be able to use a little coin network on the Internet.
On the other hand, BitCoin circulation around the globe is recorded by block-chaining algorithms that allow each user to transparently monitor or view the total supply of BitCoin and transactions circulating on the digital network. "Because the server is decentralized rather than centralized, nobody can fool the transaction data and keep changing it."
Due to rapid growth in some developed countries, such as Japan, Europe and the USA, bitcoin industry is now overseen by the Financial Services Agency (FSA), which is similar to the Indonesian Financial Services Authority (OJK). In Indonesia just the opposite.
"Compared to BitCoin trading in Japan, Korea and China, transactions in Indonesia are still very low compared to global BitCoin transactions, especially when asked about BitCoin trading terms (5%) Unfortunately BitCoin says" We can predict the exact price of BitCoin in accordance with the market situation . "The price can not be expected to rise or fall within a certain period.The market will determine how the beatco price will move by the end of 2017."
But as we know, the price of BitCoin was about 120 rupees five years ago. In 2017, BitCoin costs $ 2,000 (approximately Rs 26.6 million). Currently, bitcoin.co.id sells Rp560 million. In addition to BitCoin, the popularity of digital currencies such as Ethereum, Ripple, and Litecoin has begun to weaken market share. BitCoin transactions are getting bigger as demand for other digital currencies grows.