The valuable Bitcoin

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The mystery of bitcoin grabs public attention as frequently as oscillations in its value.

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The valuable Bitcoin


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Bitcoin is the first cryptocurrency (digital currency) or payment system invented by an unknown programmer (or group of programmers?) calling himself Satoshi Nakamoto. It was introduced on 31st October2008.It is a digital currency used at limited number of places for transactions directly between users without an intermediary (bank, credit card or financial regulator). That makes it disruptive. Bitcoin transactions are largely anonymous and stored in a virtual wallet, and its backbone is the blockchain technology. It can be bought online, and hence carries with it the risk of being used by black marketers, criminals and terrorist organizations.The user has no protection or refund rights, and the price of the currency is very volatile. 

 It can be described as the first decentralized digital currency. It may be recalled that the RBI had suggested a proper study of the Bitcoin and its blockchain mechanism.Recently, Bitcoin was in news as its value soared past the price of an ounce of gold. The reason for the surge is attributed to the tighter currency restrictions in countries like China, India and Venezuela, and its prospects under the Trump administration. According to financial analysts, for Bitcoin to qualify to be a reasonably stable store of value, it still has a long way to go. Its surge ahead of gold is arbitrary, and not based on fundamentals. China’s three biggest Bitcoin exchanges suspended withdrawals after People’s Bank of China raised concerns like people using it to move money abroad, thereby sidestepping efforts to shore up the Yuan. View the full history of Bitcoin here. In the present tumultuous global economic situation, the times to come will be interesting for Bitcoin’s future. Download PDF resources on Bitcoin from Bodhi Resources page. 



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Bodhi Booster: The valuable Bitcoin
The valuable Bitcoin
The mystery of bitcoin grabs public attention as frequently as oscillations in its value.
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