How to Use Bitcoin for Beginners

It turns out that many people don’t know how to use bitcoin in real implementation. Maybe even your friends who often discuss bitcoin problems don’t know what it does.

Because most people in Indonesia only understand that bitcoin is only a digital asset. To expand the term, we replace the term bitcoin in this discussion using crypto currency.

So the crypto currency can actually be used to make transactions like in the real world. Then now the crypto currency has also deviated far from its main marwah, namely secrecy.

The secrecy aspect of crypto is now nil and not what it was originally intended to be. Where financial transactions are personal in nature and cannot be traced by other parties.

Now even wallets can track who is using these assets. So it’s useless for us to want secrecy when the media used no longer supports that goal.

How to Use Bitcoin to Buy Goods Online

The first method of use that we will discuss is to purchase products online. Because this is still not too far from marwah, which is a digital transaction tool.

To make buying and selling transactions online, for example, we first need a wallet. The wallet can actually be hardware or software, it’s up to the user.

But now wallets use more software because the credential process is easier. So from here we already know that the element of security has disappeared when credentials become a question of how to use bitcoin.

Therefore, if you used to mine bitcoin in 2005 and put it on a flash drive, try to verify it. It is guaranteed that now it cannot be disbursed because the credentials have been stacked with other miners.

After we have prepared the next wallet, we are looking for a shop with payment in the form of digital assets. Now it is only limited to certain products that accept payments like this.

So transactions using bitcoin seem exclusive to certain circles. Digital coins themselves are now also limited in their use to buy certain goods gimmicks, how to use bitcoins.

As an example, try now to find out which mainstream e-commerce sites accept crypto directly. Of course, the crypto must be converted to real currency first.

So they don’t serve conversions directly on e-commerce sites to buy an item for example. Of course this is too much hassle to use it in everyday life.

Using Bitcoin to Pay for Digital Content Subscriptions

This is perhaps the single most functional and flexible use of cryptocurrency. Paying for digital content services such as twitch, patreon or other subscription sites.

In fact, in practice, we can “turn” content creators using digital currency. This is a functionality that does not deviate far from its glory, which is to return to digital transactions.

However, the problem returns to exclusivity, limiting flexibility. There is no real problem when bitcoin is used for transactions of this kind the way bitcoin is used.

Precisely initially used a system like this even though the implementation was not always good. For example, when we browse the dark web, content transactions will definitely use digital currency.

Why use digital currency because there is an element of security so that neither the seller’s nor the buyer’s identity is easily traced. In Indonesia itself, the creation of digital content is very limited.

Payments of course use rupiah if not so use dollars depending on what the content is. Now crypto currency seems to be a mere gimmick that has no functionality.

Maybe for those who like to play crypto to buy and sell assets, that’s all it’s for. Not much different from gold or oil, but the practical exchange rate is not nearly as flexible.

If indeed this currency is practical in the real world, can we buy toast using crypto. Of course not, no merchant caters for conversions like this in their trades.

The next problem arises when it is used by everyone, namely secrecy. When a currency is used in general then tracking and authentication of users will definitely occur to see whether it is legal or not.

Here, of course, it is very counterproductive to the transaction privacy element of bitcoin itself. After all this was a huge project that was only half as successful from any standpoint.

Using Bitcoin As A Digital Asset

Previously, we mentioned a little about how to use bitcoin as a digital asset. So this will be ours would be like gold, oil, and other instruments that are often freely traded.

If I’m being honest, this is one of our most approved uses of bitcoin. Why is that because it is still functional and makes sense when equated with these assets.

So we liken it to crude oil and make it a trading instrument. This means that bitcoin itself is no longer a currency but a valuable asset.

The functionality is clearly non-existent, such as when we have a lot of crude oil, for example, it is impossible to use it directly to exchange toast. There must be a conversion first so that there is a trade agreement on how to use bitcoin.

By making cryptocurrencies a valuable asset we can use them as investment goods. The biggest problem is that the underlying crypto itself is completely unclear.

What is it like to get it and what kind of algorithm is used to find the crypto. Everyone just echoed that mining every time it will be more difficult to do.

So they need higher resources in order to obtain optimal results. Such a statement clearly cannot be used as the underlying of a valuable asset to be traded.

The level of difficulty must be clear what it is so that it can be calculated how much it will cost to produce it. Then when talking about the problem of scarcity from bitcoin itself it is clear that it is impossible to use bitcoin.

Because the term scarcity of digital goods doesn’t exist, only scammers and gimmick sellers say that. Like NFT, for example, it is claimed to have scarcity even though production can be mass.

So when used as a valuable asset in itself this cryptocurrency is only half cooked. In terms of functionality, it’s clearly good and makes sense, but unfortunately it doesn’t have a clear underlying.

Why Until Now Crypto Currencies Remain Exclusive

Crypto has been around for years and we still can’t use it like conventional currency. Why this can happen, one of the biggest reasons is the lack of underlying how to use bitcoin.

There are no clear fundamentals on how to produce crypto so that we can determine the price. Until now bitcoin itself is still like the trend of agate and antorium in Indonesia.

The price is sometimes expensive when there are certain gimmicks or traded by famous people. Then in a short time it immediately dropped because the interest of the owners dropped dramatically.

Then why was crypto considered valuable in the first place and could be used for transactions. Because at that time this currency was indeed used to make transactions in secret, not as open as it is now.

Initially crypto was popular on the deep web as a medium of exchange for illegal services for consumers. For example buying pornographic content, illegal drugs, illegal weapons, to human trafficking how to use bitcoin.

To maintain the secrecy of sellers and buyers, it is clear that they use crypto when transacting. Then how many conversions must be agreed within the scope of the community so that the value is clear.

Things like this are aspects that are rarely known by ordinary people, especially in the country. Many people just echo that this is a valuable asset and can be used for future transactions.

If we look realistically this will not be possible. The maximum way to use bitcoin will be a valuable asset only like gold and traded exclusively.