Hello steemian ...

This is my new post in the Steemit Crypto Academy community season 3, on this homework I will be working on Beginners' course task 3 by professor @stream4u with the theme "Bitcoin, Cryptocurrencies, Public chains".

SOURCE:https://www.berwirausaha.net/2017/03/peluang-bisnis-bitcoin-yang-menjanjikan.html/

For those of you beginners, of course, the terms cryptocurrency and bitcoin are certainly not foreign to your ears. Cryptocurrency is a digital asset designed as a medium of exchange but not as a currency but many use it as a form of investment such as stocks. One of the crypto currencies is bitcoin, there are many opinions about bitcoin and also not a few are misinterpreted. For that I will explain it based on the task below:

What Is Bitcoin and what was the Aim Behind Bitcoin Invention? Is Cryptocurrency Good For A Business To accept As Payment? Why?

Definition of bitcoin

SOURCE:https://www.cnnindonesia.com/ekonomi/20210423190402-78-634082/turki-tangkap-62-orang-terkait-penipuan-cryptocurrency

Bitcoin is a digital asset whose value rises and falls according to market movements. Bitcoin can also be interpreted as an electronic currency which can only be used to transact on the internet. Currently, there is no regulation in any country that allows bitcoin as a legal medium of exchange in their country. Despite this bitcoin has a high value which, when exchanged for the official currency, currently stands at 34349.20 USD (11.56 am, 28 June 2021). Therefore, to take advantage of bitcoin in the real world, it must first be converted to the official currency.
Bitcoin is also an asset that uses a decentralized system, where there is no top authority or ruling authority in the system. This means that the system is purely a transaction between the sender and the recipient without any intermediary between them.

The Aim Behind Bitcoin Invention

SOURCE:https://petik.net/siapa-satoshi-nakamoto-sosok-penemu-bitcoin/
The purpose of the first discovery of bitcoin was to avoid controlled transactions. As we know that the bank is the controller as well as the intermediary in every transaction we make. Therefore, a financial network is created where every transaction does not go through an intermediary. It was pioneered by a person named Satoshi Nakamoto, who published this system in 2009 and at the end of 2010 he left this project mysteriously and no one knows his true identity.
In addition, bitcoin was basically created on the basis of the weaknesses of the bank system. Where apart from having a centralized system, banks also have a relatively long time to transact between countries. In this case, bitcoin also offers an alternative with relatively faster transactions even for destinations anywhere and anytime.

How good is bitcoin for business and for payments

SOURCE:https://techno.okezone.com/read/2017/12/15/207/1831061/agar-tak-bingung-ini-6-perbedaan-bitcoin-dan-uang-elektronik

• As a business, bitcoin is actually quite good and promising. However, it all depends on how good you are at analyzing market price movements. If you are a person who is very good at reading market prices, you know when to buy and when to sell and you know how to get the maximum profit and be able to minimize the risk of loss, then bitcoin is very good for your business. On the other hand, if you are someone who doesn't understand market prices, you don't know when is the right time to buy and when it's time to sell and you don't know how to get the maximum profit and are unable to minimize the risk of loss, then bitcoin is not good for your business. . It all depends on your ability, bitcoin is a business that provides big profits with a large risk of loss.
• As a payment, I observe that bitcoin is not good to be used as a means of payment because of its high volatility. The price is very fast changing, up and down in a matter of days, hours, minutes and seconds. If bitcoin is used as a means of payment, it is feared that it will create chaos in market prices due to its uncertainty as a means of payment. For now, I still think that bitcoin is not good to be used as a means of payment.

Conclusion

• Bitcoin is a digital asset whose value goes up and down according to market movements. Bitcoin can also be interpreted as an electronic currency which can only be used to transact on the internet. Currently, there is no regulation in any country that allows bitcoin as a legal medium of exchange in their country.

• The purpose of the first discovery of bitcoin was to avoid controlled transactions. As we know that the bank is the controller as well as the intermediary in every transaction we make. Therefore, a financial network is created where every transaction does not go through an intermediary.

• As a bitcoin business, it is a business that provides large profits with a large risk of loss. And As a payment, I observed that bitcoin is not good to be used as a means of payment because of its high volatility.