Bitcoin is a cryptocurrency which isn’t managed by a bank or agency but in which transactions are recorded in the blockchain that is public and contains records of each and every transaction that takes place.
The cryptocurrency is traded by individuals with cryptographic keys that act as wallets.
Bitcoin was first invented in 2009 by an anonymous founder known as Satoshi Nakamoto.
Bitcoin Daily is delivered to your inbox each morning, we find the top 3 stories and offer our expert analysis. Not convinced? Check out our latest newsletter.
India’s general attitude towards cryptocurrency has been negative. In 2017, the central Reserve Bank of India (RBI) considered a now-defunct proposal to introduce its own cryptocurrency, Lakshmi. It has also been looking into encouraging blockchain technology in financial and payment institutions. But the government has shunned cryptocurrency with policymakers opting to outlaw cryptocurrency with incarceration and legal petitions. Bitcoin is not recognized as legal tender and, as of 23 July 2019, the Banning of Cryptocurrency and Regulation of Official Digital Currency Bill has been proposed. Unocoin, an India-based exchange, allowed individuals to trade Bitcoins but is now disabled.
Since the ICO boom in 2017, cryptocurrency projects have been crawling out of the woodwork, offering up answers to problems plaguing the industrial sector. From improving supply chain management to a…
Published at: 2019-12-23 16:52:31
The new KYC requirements come a week after Poloniex completed its U.S.
Bitcoin price equal to 537253.68 rupees a coin.
Today’s price range: 530990.39 Rs – 544807.64 Rs.
Inverse rate: INR to BTC.
In 1 week Bitcoin price prediction on Monday, December, 30: price 613322 Rupees, maximum 656255, minimum 570389. BTC to INR prediction on Tuesday, December, 31: price 592591 Rupees, maximum 634072, minimum 551110. Bitcoin price prediction on Wednesday, January, 1: price 575541 Rupees, maximum 615829, minimum 535253. BTC to INR prediction on Thursday, January, 2: price 578228 Rupees, maximum 618704, minimum 537752. Bitcoin price prediction on Friday, January, 3: price 560929 Rupees, maximum 600194, minimum 521664.
In 2 weeks BTC to INR prediction on Monday, January, 6: price 562196 Rupees, maximum 601550, minimum 522842.
Japan-based Mt Gox – the world’s largest bitcoin exchange – has collapsed.
The exchange has filed for bankruptcy, losing 7.5 lakh bitcoins of customers and one lakh of its own. The bitcoins are worth over Rs 3,000 crore.
In its bankruptcy filing, Mt Gox has listed 1.27 lakh creditors.
Most of these are foreigners and about 1,000 are from Japan.
These foreigners include those operating on behalf of clients from India while some Indians were directly trading at the exchange.
After three weeks of speculation about the fate of Mt Gox, which suspended withdrawals last month, the bitcoin fraternity was stunned after Mt Gox claimed hackers stole 850,000 coins.
There goes India’s cryptocurrency market.
The Reserve Bank of India banned banks from permitting individuals to transfer cash from their bank account into Bitcoin wallets. India isn’t an enormous marketplace for crypto, so Bitcoin was down and possibly not because of the RBI’s announcement.
China, South Korea, Singapore, Japan, and the U.S.
are the largest markets for cryptocurrencies.
Digital currencies like Bitcoin, Ethereum, and Monroe discover themselves in a grey area in India.
In December 2017, the Indian authorities cracked down on the cryptocurrency market.
Earlier this 12 months, in a transfer that would appeal to big tax gains, taxmen issued notices to over 5 lakh people dealing in cryptocurrency.