The term Bitcoin is becoming more familiar among the people. Some of the praised conversation because Bitcoin is considered as a modern transaction tool like currency, and investment instruments worthy of glance if you want to get rich suddenly.

But not a few also gossip that comes because the movement of value Bitcoin tub roller coaster considered unreasonable to be a safe investment tool.

To reduce the curiosity of the community for the controversy, the following interviews with Oscar Darmawan, Chief Executive Officer (CEO) Bitcoin Indonesia, a platform for buying and selling digital assets. Here are excerpts of the interview:

How is the development of digital asset phenomena in the world today?

Bitcoin is the earliest digital asset made on the blockchain, where the system is based on interconnection with each other, and the database records are interconnected and transparent.

In its development, since it's open source, others are perfecting it with other technologies. To date there are 1300 digital assets. We bitcoin.co.id, to be a company to buy and sell transactions occur safely.

How do you respond to concerns that bitcoin values ​​have the potential to bubble and fall?

Digital assets do not have a standard value, because they are released into the market so that the price formation process really depends on the availability and demand in the market itself. That's what makes Bitcoin's value fluctuation very high.

Basically, all commodities have the potential of bubble, as well as gold and silver whose price is increasingly looming. The gold market capitalization is bigger, the market is more mature. The bigger the capitalization, the price movement will be slower. Almost all commodities are so, where commodities determine their own price in the market.

I will not argue if it is equated with the phenomenon of agate commodities, fish lohan, or trees that had been booming a while ago. But if seen further, of course there is a difference. The commodities reproduce very quickly, resulting in a flood of supply and destruction of the Bitcoin price itself.

While bitcoin has a limited amount and can not be bred. Bitcoin system decentralized, then the supply of limited bitcoin is determined maximum 21 million bitcoin that can be circulated. 1 bitcoin consists of 100 million units. Estimated bitcoin 21 million is exhausted in 2040.

Bitcoin was made in 2009 and is the first blockchain technology and bitcoin has a major function, as a settlement and store value tool, and an excellent instant transfer tool. Another digital asset under it actually has better technology, but because the oldest bitcoin and decentralization are the broadest access.

How is the explanation of other digital asset technology under better bitcoin?

Every age can change, the generation of the parents is good. But in technology, the older generation will always be defeated by the younger generation if not quickly developed. Bitcoin's blockchain technology is still developing but it moves a bit longer than other new technologies, so there is the possibility of another digital asset beating bitcoin.

Another emerging digital asset is Etherium, where anyone can build software (software) placed on the blockchain. Can also be processed using a game gimmick. When talking ripple, every bank in the world can interconnect and mutually verify transactions without any third party. All the technology is growing.

How to respond to public enthusiasm for new investment assets to mortgage his property?

I'm not suggesting that it's done, because there's such a thing as age. the internet is growing very fast. technology does have potential, but we never know which technology will win this whole world. we will never know which digital assets will win the market, but if you feel investors with high risk taker please.

I once knew someone who sold all his property to buy some bitcoin some gold, could be if you want to take a high risk, but not all that crazy, and I do not advise people who are not crazy so crazy, because not everyone can stay calm when the market panic.

I suggest that if you want to get involved in this product, the portfolio should be only 5-10 percent because it is acceptable when it loses. The bottom line is diversification.

What are the prospects of bitcoin in Indonesia?

Compared overseas, the development of bitcoin market in Indonesia is still far away, because the regulation is still not supportive. Unlike in Japan much faster because bitcoin trade has been given special permissions, even changing the law only for bitcoin. Finally, the worldwide asset turnover is mostly in Japan, he is forcing foreign exchange worldwide in blockchain to enter Japan.

Can Indonesia apply the same rules as other countries?
Maybe (bitcoin rules can be applied in Indonesia), even better because if the transaction is monitored then later data about good users and bad users all government can get it, consumer protection even more clear.

Imagine, if in Indonesia is prohibited then the consumer protection will be even worse. If in Indonesia illegal, then they will buy abroad, for example in Japan is legal, money transactions to Japan is not difficult really. In addition, in the United States and Europe are also legal. Later, eventually his assets will also go abroad. ultimately Indonesia's transaction data will also be owned by foreign countries. Another disadvantage, we missed the technology again with foreign countries.

Blockchain is one area where our government has a chance to be able to compete with other countries, because it's a pure game of brains and technology. we are out of date internet, do not miss the next technology.

Government already aware of bitcoin technology?

Actually the government is already aware of the technology behind it, so they only forbid that bitcoin should not be used as a means of payment, because of that monetary risk they want to tackle, but they let this technology grow.

I support the steps undertaken by the bank Indonesia because in Indonesia the transaction must be done with rupiah. The goal, so that the value of rupiah more value. Actually, bitcoin competition is not with rupiah, but with other commodities such as gold or silver.

Should the government change the rules and allow bitcoin as a means of payment?

I think if bitcoin is used as a means of payment it ultimately the currency drawn is the local currency.