Priyanka Pal
New member
Asset creation and its growth is something that appeals across generation. The older generation saw gold, land as powerful exchanges. However, with the progress of time and technology these options became quite outdated. The Gen Y needed something better, an option that could grow faster without being market controlled or chained by differing exchange rates across the world. Using the tools of technology, he came up with a solution – Bitcoin.
Originally introduced by Satoshi Nakamoto on 3rd January 2009, Bitcoin is a decentralised digital currency that can be transferred between users on the peer-to-peer bitcoin network... They can be exchanged for other currencies products or service but are extremely volatile in nature. These bitcoins can be stored in a cryptocurrency wallet, which can be traded on or converted according to the owners need. Stored in a public decentralised ledger it is free from government and banks, thus leading to possible situation of illegal transfer and blacklisting.
Most people use bitcoins as investment, because of its high return value. It can help create currency worth millions through complex mathematical programming and calculations without having the fear of your identity or assets getting disclosed anywhere. Today a bitcoin roughly equals 26, 32,130.38 times an Indian rupee. In India, around 7 million Indians are in cryptocurrency business with a capital worth $ 1 billion.
Inspired by its widespread success, Bitcoin has inspired a host of other cryptocurrencies. However, the future of bitcoins are still not very bright. Due to its unregulated nature and lack of control over the currency various countries have started tightening their grip and weighing the regulations. The Indian government has also taken steps in this regard. Companies and individuals have been asked to declare their holdings in their financial statements every year. Though the government has its own reservations it is not totally against this form of money. It remains to be seen how digital infrastructure like blockchain technology can help in leveraging the global economy with the right checks and balances in place.
Originally introduced by Satoshi Nakamoto on 3rd January 2009, Bitcoin is a decentralised digital currency that can be transferred between users on the peer-to-peer bitcoin network... They can be exchanged for other currencies products or service but are extremely volatile in nature. These bitcoins can be stored in a cryptocurrency wallet, which can be traded on or converted according to the owners need. Stored in a public decentralised ledger it is free from government and banks, thus leading to possible situation of illegal transfer and blacklisting.
Most people use bitcoins as investment, because of its high return value. It can help create currency worth millions through complex mathematical programming and calculations without having the fear of your identity or assets getting disclosed anywhere. Today a bitcoin roughly equals 26, 32,130.38 times an Indian rupee. In India, around 7 million Indians are in cryptocurrency business with a capital worth $ 1 billion.
Inspired by its widespread success, Bitcoin has inspired a host of other cryptocurrencies. However, the future of bitcoins are still not very bright. Due to its unregulated nature and lack of control over the currency various countries have started tightening their grip and weighing the regulations. The Indian government has also taken steps in this regard. Companies and individuals have been asked to declare their holdings in their financial statements every year. Though the government has its own reservations it is not totally against this form of money. It remains to be seen how digital infrastructure like blockchain technology can help in leveraging the global economy with the right checks and balances in place.