Rabu, 19 Februari 2014

Most Bitcoin Investment Risk (Risk Hight Hight Return)

Recognized or not , Bitcoin fever is sweeping the world . Cryptocurrency that is decentralized and unregulated or guaranteed by the central authority is crowded is used to transact in various countries , including Indonesia .

Although it has a number of advantages over currency " conventional " , Bitcoin not without risk . There are some threats that lurk the users of this virtual money . One of them relates to the issue of Bitcoin storage .

To be able to spend Bitcoin , the owner requires a specific line of code called " private key" . This line of code is stored in the " wallet" or digital wallet . When it will be used , then the owner of the access code and use it for transactions .

The private key can be stored locally on the computer and printed out by the printer . Problems arise because this line of code can be stolen or lost . If that happens , then all Bitcoin associated with the corresponding private key will disappear forever from the hands of the owner .

Cases like this happen in some recent months . For example, events that befall Inputs.io . The online wallet providers burglarized hackers last November , resulting in the " customer " Bitcoin loss of 1.2 million U.S. dollars .

The private key is stored in the " Cold Storage " ( a computer or storage media that is not connected to the internet ) also has its own vulnerabilities . A man named James Howells store in 7500 Bitcoin wallet in the computer hard disk . When the hard disk is lost , Howells was forced to give up millions of dollars worth of virtual money is .

To reduce that risk , the CEO of Bitcoin Indonesia Oscar Darmawan little share tips .

Business one of the largest Bitcoin exchange in Indonesia revealed that he membikinprint Bitcoin wallet out in a printed form . " Then , to be safe , we keep the mold in the safety deposit box , " Oscar said when met after the event Bitcoin Community gathering Indonesia in Jakarta , Saturday ( 18/01/2014 ) yesterday .

To protect your online wallet , strong passwords can be used . Can also added two - factor authentication services like Google Authenticator which is often offered by web -based purses . Backup wallet is also necessary to guard against the possibility of a server problem or a computer / hard drive is damaged .

financial risks

Another related risk is the currency Bitcoin itself is known to be very volatile. In early January 2013 , for example , Bitcoin appreciated 13 U.S. dollars per chip ( 1 BTC ) . That number skyrocketed to more than 1,100 U.S. dollars per chip in December of the same year , and then trimmed to only half ( about 500 U.S. dollars ) , just a few hours after the ban Bitcoin transactions in China .

This makes the value of Bitcoin held to be unstable and become its own problems for businesses that use the virtual currency . Prices of goods and the value of the money paid can rise or fall sharply within a very short time and thus potentially harming one of the parties involved in the sale and purchase .

Tiyo Triyanto of IBC said that one way to cope with fluctuations in the price is by using a financial service provider Bitcoin Artabit sort . " Buyers , for example , paying the price of the goods specified in the form of Bitcoin to Artabit , the rest is handled by them so that the risk of not being in the hands of users . "

Assuming no excessive fluctuation , Bitcoin offers a distinct advantage for businesses that sell products online because there is almost no transaction costs for buyers and sellers . Likewise for the purposes of money transfers made ​​easier and cheaper than conventional currency .

Such as currency or other commodities , hoarding or hoarding behavior also occurs with Bitcoin . In India and China , for example , the largest Bitcoin demand figures allegedly came from speculators seeking profit . There was the possibility that the price of Bitcoin could crash if a large number of virtual coins are released at a time , especially with the current condition of Bitcoin is experiencing a lot of so-called bubble .

less understood

Another risk comes from not less important among users of Bitcoin itself , namely a lack of understanding of the nature and workings of this cryptocurrency .

Oscar says that he captures symptoms of desperate people who invest in Bitcoin without the support of adequate knowledge . " We got a request to buy a number of Bitcoin , but after that the buyer contacted and asked what was new Bitcoin , " said Oscar . In such cases , he explained that it usually reject transactions that do not are called " offers a shortcut to be rich " .

Many have suffered losses investing in Bitcoin because even though the currency is not understood . " They do not know when to buy , sell , and so forth . Prior to investing , it is the absolute knowing the ins and outs of the investment , " said Oscar again .

Bitcoin can indeed be obtained through " mining " or mining . But the way is fairly slow generate Bitcoin for most ordinary users . Those who want to quickly gain Bitcoin can be directly purchased through the appropriate exchange rate prevailing , but given the high risk of fluctuations in value which can be quite extreme .

To be safe , Oscar advise investors to take their money Bitcoin beginners who are already prepared so expendable . " Do not use money to spend , then dizzy , " he said .

Bitcoin itself is not the only cryptocurrency circulating in the world . Currently available digital currency dozens of similar popularity and value of each variable . Some names are often referred to , among others Litecoin , Ripple , Dogecoin , and Coinye West is being sued for trademark infringement by Hip - hop artist Kanye West .

(Source Kompas )