What is Bitcoin, The Ransom Asked "Hacker" WannaCry?

The Wanscry ransomware virus spreader asked for a ransom of Bitcoin to the party who was being held.Actually, what is a BitCoin? How much is it worth?

Bitcoin became popular since 2014, the digital currency is quite volatile, making this type of currency a trend as well as new options for transactions in the internet world.

As quoted from newyorker.com, digital currency is present in January 2009 has a system that is much different from conventional money

Bitcoin can be analogous to "gold mine" (or other precious metals minerals). Miners are those who dedicate their computer resources to solve mathematical problems, through "heavy" calculations.
The miner in question may initially be just someone with a home computer.But nowadays, the bitcoin mining process is done through a specially designed and collective device (called a node).

Every 10 minutes, the bitcoin system will assign a number of bitcoin units (25, for example) to one of these nodes.

The amount mined per 10 minutes will decrease over time, until it runs out in approximately 2140.With the total amount of bitcoin that can be mined as many as 21 million units.
The resulting bitcoin functions like a conventional currency and is accepted as a payment product for various online transactions

******bold**What is the value of one bitcoin?

This currency convertible into other currencies debuted with a value of one bitcoin equivalent to less than 1 US dollar and continues to show fluctuating value.

Sites such as Preev.com show simply how much the value of one bitcoin unit (1 BTC) in a conventional currency.For example, on May 16, 2017 at 16:30 pm, its value is 1700 US dollars (Rp 22.6 million).

Bitcoin can be used for various things, for example for the purchase of goods on the store (both online and physical) who receive it.

Just look at bitcoinstore.com, users can buy electronic goods, including cameras, music instruments, and computers.There are even bitcoin casinos, like SatoshiBet.

The development is seen with the increasing number of merchants who receive payment with bitcoin. Includes big names likewordpress.com, namechap.com, sertareddit.com.

Decentralization

The originator of Bitcoin is a figure named Satoshi Nakamoto. Allegedly this figure is a pseudonym that could be used by a group of people.His true identity is still unknown.

Nakamoto has since designated bitcoin as a decentralized system. Unlike conventional money, no institution can make policies that affect the value of this currency.While the conventional currency always has a central authority.

Bitcoin too, especially in its early days, is an alternative for those who do not like to trust governments, central banks, or third party institutions to keep the value of the currency and guarantee user transactions.
In Bitcoin, all of that was replaced by using mathematical and cryptographic calculations.

Every transaction in bitcoin will be tested through a cryptographic system spread over a peer-to-peer network. It is estimated, there are tens of thousands of systems that participate in this test.

Bitcoin is not free from theft.However, any stolen bitcoin will remain in the system so that when used for transactions, in theory, it will always be tracked.

The decentralized Bitcoin system makes many people call it the internet for money.If the Internet revolutionized the way of global communication, Bitcoin is believed to be changing the way the world uses money.\n\n
You only have 3 days to make the payment. After that period, the payment will double. If you do not pay within 7 days, your data will be lost forever, "the ransomware maker wrote in a message displayed on the victim's computer screen.

The Bitcoin is a cryptocurrency aka digital money that can be exchanged for real money.Bitcoin transactions can not be tracked so popular among the black world, including cyber attackers.