BITCOIN IS A TECHNOLOGICAL TOUR DE FORCE

ACCEPTANCE

The world is finally paying attention to the term digital currency . put simply it's a electronic money nothing more than a bits in computer , be it in your laptop ,smartphone some far in computer chilly climate controls data centre. Make no mistake.it's a real money but"s it"s unlike anything we have ever seen.Although it has similar property to the paper bill we all carry in our wallets.A digital currency like bitcoin is not printed by a recognized authority like government that determines how many are put into a public circulation .Nor is it valued in traditional senses like gold whose limited supply is slowly extracted from the earth at great labor & expense . Concepts

• Blockchain – A digital ledger maintaining records of transactions

Cryptocurrency – A digital asset designed to work as a medium of exchange

• Bitcoin – The first and most popular decentralized cryptocurrency

• Satoshi – Unit of measurement of a bitcoin (1 satoshi = 0.00000001 bitcoin)

• Mining – Process by which transactions are verified and added to the public ledger(blockchain), and also the means through which new bitcoins are released(as reward for verification)

• Altcoins(Alternative coins) - Other cryptocurrencies

• ICO(Initial coin offering) – Similar to an IPO, a cryptocurrency can enter the market through an ICO There are over 1300 cryptocurrencies right now, a total market cap of over 300 billion USD, with bitcoin dominance at 55%

• Indian crypto wallets/exchanges undertake self-regulation - asking users for PAN/aadhar, and linking the wallet to user’s bank account

The legal world of bitcoin has often been a new frontier and it's not just bitcoin all virtual currencies that run independent of established & regulated bank .Entrepreneurs with grand new ideas to trade them ,whether it's own investment exchange or neat wallets that run on your on your smartphone.

Comments

Will it be possible that if Blockchain Technology can remould Global Payments System?

Payments are synonymous with a transaction that is guaranteed by a central authority which can be a bank, a payment wallet or an escrow service. Keeping the chronological timeline under consideration blockchain happens to be at the helm of technological advancement in the financial domain. A block is the ‘current’ part of a blockchain, which records some or all of the recent transactions. Once completed, a block goes into the blockchain as a permanent database. Each time a block gets completed, a new one is generated. “Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole.” The core value of a blockchain is that it enables a database to be directly shared without a central administrator. Rather than having some centralized application logic, blockchain transactions have their own proof of validity and authorization to enforce the constraints. Hence, with the blockchain acting as a consensus ...

Bitcoin a 'dangerous speculative bubble ,is it?

Mo n e y is a m a tt er o f f a ith, Bits of paper and computer bytes change hands billions of times a day as a measure of value because we trust the promise that they represent .in today's era of fiat money ,those promises rest ultimately on a guarantee by governments that they are valuable . that guarantee , as we have seen , is being questioned as the willingness of governments to live up to the promises of fiat currencies is called into question by the deterioration in public finances We often discuss the ways that new technologies and techniques are being used to improve the digital scenario consecutively To t r e at the debate about the f ut u re of mo ne y as a battle between econo m i c truths is to mi s und e r stand the nature of money itself. ...

DON'T WAIT TO BUY BITCOIN, BUY IT & WAIT...

We all are getting aware of digital world day by day ,digital world are adding new technology on each successive day , things are being converted into digital process . The new digital economy is being introduced , now a days we all are familiar with new type of digital currency bitcoin ,., Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency has been a constant source of interest and confusion since it thrust itself into the mainstream more than five years ago. But interest in bitcoin is now greater than ever. Its value has soared above $10,000 (£8,000), a new high point, turning those who hoarded large amounts early on into millionaires. There are lot's of question that arise in our mind day by day ..just like How does it work? B itcoin works on a public ledger called blockchain, which holds a decentralised record of all transactions...

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