Can you think, friends, whose value was zero 10 years ago, today its value has to touch 15 lakhs. I am talking about bitcoin crypto currency, which has touched its all-time high price just a few days ago, due to which it has started being discussed again in the market and in the media.
History of cryptocurrency bitcoin
History of cryptocurrency bitcoin: 12 years ago 31 october 2008 ko ek person jis ka naam satoshi nakamoto. who published paper on internet that crypto currency is a version electronic cash which can be directly transferred from one party to another party without financial institution.
Crypto currency is a digital asset, digital currency and have no control any central bank or financial Institutions
For eg US dollar controll the central bank of US and RBI control RS.
But cryptocurrency bitcoin can be used as a central bank or a financial institution does not control cryptocurrency was an idea but today its trading of Lakhs or crores There is Crypto exchange.
First Understand some concept of economic history.
Our Financial sysyem trust based. Value in the society of currency notes and coins of a country. This is controlled by the Govrnment or central bank financial institution.
America World Powerful country after 2nd World War. To then combine all the countries with your currency Read. or US Dollar was associated with the Gold Reserve. But the actual value is of gold and silver.
Then 1971 US finished Gold Standard. Then other countries central bank started printing its note currency.
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We deposit our money in the bank. Then bank give Loans to companies or individuals. Then gives us bank returns.
Bank gives loans in irresponsible way Due to loan bad debt NPA. Yes Bank, PMC, Laxmi Vilas Bank
People who are in cryptocurrency bitcoin favor.
That people do not want government or central bank of our currecy control. This has led to the launch of cryptocurrency bitcoin.
How does crypto technology work?
Eg bitcoin: All bitcoin has a public account called Ledger digital form.
Those who run the system speak those Miners. Miners' job is to verify the transaction
Now more than 2000 cryptocurrency on internet.
How to use cryptocurrency or crypto technology
- Some People use Bitcoins as a investment.
- Some people use alternate currency.
- Some people cryptocurrency replace with currency and use bitcoins in
- place of dollars and rupees.
- Main Aim investment in cryptocurrency hop for higher return in future.
- Just like store of gold
Why criticize Bitcoin cryptocurrency digital currency or entails risk some inverter
- Bitcoin is Digital Currency. No inherent value.
- For Example You can Physically touch the gold, house, shop, silver.
- It is not medium of exchange.
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There are several restaurants and hotels In western countries many restaurants and hotels are accept bitcoins as an
alternative form of payment
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