Leak Security System of Bitcoin

For people who like to make transaction via online, they must be very familiar with bitcoin. Yup, this digital currency has stolen the attention of all online users, and even it has caught the attention of super power country United States. Not all people know and understand about what bitcoin is, what it is for and how to get it. However, the use of bitcoin itself has been improved so well and so fast, so does the case. Before going on further of talking about its latest news, let’s get back to the past for a while to find out what the bitcoin is.

The news about bitcoin has gained much popularity recently, but actually the bitcoin itself is not a new thing anymore for the online user. It had been made in the year of 2009 by Japanese named Satoshi Nakamoto for paying all services in Online. The name of bitcoin was given along with the open source system that he made back then, but there is no clear explanation whether those things are related or not. In the past, some people may ignore it because honestly this currency can raise your awareness because the name of the sellers and the buyers cannot be mentioned. They do the transaction anonymously. Bitcoin has bank to support its transaction, but the role of the bank is not like the bank that we know. The bank of bitcoin, which is in virtual form, is only for sending and receiving bit coin from seller to buyer or from mining process. The bank is supported by nodes that are spread by the database that does not have a main publisher. It can be redeemed with official currency such as Yen or Dollar.

From the security aspect, the use of bitcoin is not safe especially there are some cases that involve the security of bitcoin. Some times ago, the bitcoin’ server has been hacked and the companies goes away with the bitcoin that client have. On February 7, the official website of Bitcoin, MT GOx’s website was blank and it could not be accessed due to cyber attack. The result is, all clients’ bitcoin were gone. In the past, bitcoin was made in a long period of time process and complicated mathematical formula, but now the user can get the bitcoin once in ten minutes through the mining process. The user can visit the official website that provides the wallet. However, just for your information that the wallet is not registered by FDIC, so if something happened to your bitcoin, you cannot do anything about it.

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