Frequently Asked Questions

What is Bitcoin?
Bitcoin is a consensus network that enables new payment systems and money that are entirely digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority. From the user's point of view, Bitcoin is similar to cash in the internet world. Bitcoin can also be regarded as the most prominent record keeping system available today.

Indonesia who created Bitcoin?
Bitcoin is the first implementation of a concept called "cryptocurrency", first described in 1998 by Wei Dai in the cypherpunks mailing list, suggesting the idea of ​​a new form of money that uses cryptography to control manufacture and transactions, instead of using centralized authority. The first Bitcoin specification and proof of concept were published in 2009 in a cryptographic mailing list by Satoshi Nakamoto. Satoshi left the project at the end of 2010 without telling much about him. Bitcoin community is growing rapidly as many developers are working on Bitcoin.

Satoshi's anonymity often raises false concerns, mostly related to a misunderstanding of the nature of open source-based Bitcoin. BItcoin protocols and software are publicly published and developers from around the world can review the code or make their own modified version of Bitcoin software. As with current developers, Satoshi's influence is limited to some of the changes he created and adopted by other developers, and he does not control Bitcoin. Thus, finding the identity of the inventor of Bitcoin is now just like finding the identity of the inventor of the newspaper.

IndonesiaWho controls the Bitcoin network?
No one has a Bitcoin network, just as no one has email operation technology. Bitcoin is controlled by all its users worldwide. Developers can indeed improve Bitcoin software, but they can not enforce changes in the Bitcoin protocol because all users are free to choose the software and version they want to use. In order to remain compatible with each other, all users need to use software that follows the same rules. Bitcoin works only when there is full consensus among all users. Thus, all users and developers have a strong incentive to protect this consensus.

nesiaHow does Bitcoin work?
From a user point of view, Bitcoin is nothing more than a mobile app or a computer program that provides a Bitcoin wallet and allows users to send and receive bitcoins. This is how Bitcoin works for most users.

Behind the scenes, the Bitcoin network shares a public record called "chain-block". This record contains all transactions ever processed, enabling the user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures related to the sender's address, allowing all users to have full control over the bitcoin delivery from their Bitcoin address. In addition, anyone can process transactions using special hardware counting power and get a gift in bitcoin for this service. This activity is often referred to as "mining". To learn more about Bitcoin, you can go to special pages and original newspapers.