Why I Fall in Love With Bitcoin Concept

  Anyone who there is science computer background / mathematics / economy certainly will fall in love with bitcoin concept if already immediately able understand concept.It will takes time want to understand really, I once takes 3 weeks time for understand a little bit of Bitcoin concept.Bitcoin certainly not the same with any ecurrency that ever existed in the world till now. I give some details for new user understanding.

1. Bitcoin 100% based on by code / mathematics or in IT language called bycryptography (Hash Cat and Signatures Digital).

2.Did not have any corporations, government or any entity which control bitcoin, the meaning it have no owner and bitcoin produced from process named by Mining.Process mining to produce bitcoin this anyone can make appropriate promise there is computer with card graphic that la power (more many card graphic more good). Install software mining lets run 24 / 7 hour.Inshaallah will get the bitcoin.

3. Bitcoin this something like gold virtual, it programmed to produce bitcoin until 21 milion only (10 bitcoin milion already produced till today). When already really 21 milion process bitcoin production will be stop.The summary it Supply.Probability Limited in the future 1 BTC costs USD10000 or more.

4. BTC transaction from A point to B is continue, the meaning not going through servercentral. Protocol used is decentralized fully (Same P2P @ peer to peer concept like torrent).Fees for transaction on the other hand is dirt cheap (user optional can position as pleased) if do not want position can even but transaction risk will take time.

5. Bitcoin there is 8 decimal back he that also can be used for example transaction :- (Btc 0.00000001) Marry send Aminah BTC 0.00000001 for a pair of shoes.

6. Bitcoin not depend on or tied to USD or any currency, he wears code ISO itself called by BTC.

7. Market price for bitcoin in exchange to USD is base on highest purchase price in http://www.mtgox.com (mtgox is largest exchange bitcoin where processes 70% Bitcoin trade whole world).. Until today highest exchange rate is USD93.06 to 1 BTC. Time not wait us.

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Japanese Exchange BitFlyer Raises $236k in Growth Funding

Tokyo-based bitcoin exchange bitFlyer has raised $236,000 in investment that the firm says will be used to fund additional services, as well as expansion outside Japan.

BitFlyer previously raised $1.6m in July with the goal of becoming the leading player in the country's expanding bitcoin market. 

Notably, the latest funding was provided by Barry Silbert’s Bitcoin Opportunity Corp (BOC), which has invested in a large number of bitcoin startups including Coinbase, Circle, BitPay, Safello and others. This is the first time, however, that the BOC has invested in a Japanese company.

Silbert told Bloomberg:

“While bitcoin awareness and adoption is probably a couple years behind the United States, I’m highly confident that Japan will be a large market for bitcoin given the tech savvy, financially sophisticated population.”

Growth plans

The company hopes the new funding will help it achieve its ambitious plans in the bitcoin space.

As well as allowing people to buy and sell bitcoin, bitFlyer partnered with GMO Payment Gatewayto provide a bitcoin payment option to 48,000 online merchants in late September. Earlier the same month, the firm launched Japan's first bitcoin crowdfunding platform, ‘fundFlyer’.

Among other new services, the funding will allow bitFlyer to offer its first convertible bond.

The company said: "This investment scheme will enable investors to convert their holdings into future issued class shares, allowing for quick and efficient fundraising."

Singapore expansion?

BitFlyer CEO Yuzo Kano told Bloomberg the BOC funding would also allow the firm to expand overseas, adding:

“Singapore is a likely target, although nothing has been decided yet. It will have to be somewhere favorable to bitcoin, so probably not the US.”

Although Japan received something of a shock when it found itself at the centre of the Mt Goxfiasco, the country has since decided to take a hands-off approach to bitcoin, letting the industry largely regulate itself.

The Authority of Digital Asset, an industry body with government backing, was recently set up with the aim of establishing standards and codes of conduct for its members.

“Japan is way ahead of other countries when it comes to cooperation between bitcoin operators and regulators, which you don’t see in the US, Europe or Singapore,” Kano said.

Yen image via Shutterstock

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