Skip to main content

Bitcoin

Hello Friends

Today
We Learn About Bitcoin Investment....

Bitcoin is talk of town these days. On one hand, Japan consider bitcoin as a legal tender, while on the other, JP Morgan Chase CEO James Dimon calls it little more than a “fraud”. 

Investors or traders of Bitcoin faced chaotic situation after Shanghai-based BTCChina, a major Chinese bitcoin exchange, on Thursday said it would stop trading in the crypto-currency from September 30, citing tightening regulation, while smaller bitcoin exchanges ViaBTC, YoBTC and Yunbi on Friday announced similar closures. This sent negative signal to the world in relation to Bitcoin. 

Indian government also is not looking happy with Bitcoin. The Reserve Bank of India official Sudarshan Sen on September 13 said that the central bank was uncomfortable with “non-fiat” cryptocurrencies like Bitcoin. 

The digital-currency has plunged over 50 per cent in the past 13 trading days. 

What is Bitcoin? 

Bitcoin is a cryptocurrency, or a digital currency, that uses rules of cryptography for regulation and generation of units of currency. Bitcoin falls under the scope of cryptocurrency and was the first and most valuable among them. It is commonly called a decentralised digital currency. 

Bitcoin was invented by Satoshi Nakamoto in 2009. 


Image result for bitcoin


How Bitcoin works? 

Hitesh Malviya, Bitcoin Expert, itsblockchain.com explains, Bitcoins are completely virtual coins designed to be ‘self-contained’ for their value, with no need for banks to move and store the money. 

Once you own bitcoins, they possess value and trade just as if they were nuggets of gold in your pocket. You can use your bitcoins to purchase goods and services online, or you cant .. 



Image result for bitcoin

Find a Bitcoin wallet

Bitcoin can be purchased online and are stores in an online wallet in digital form. You can select from various bitcoin exchanges available in India such as - Unicorn, Bitxoxo, Zebpay, Coinbase etc. Select wallet based on features, platforms they can be used on, and security etc.

Image result for bitcoin buy

How to Secure Bitcoins


As with anything valuable, hackers, thieves, and scammers will all be after your bitcoins, so securing your bitcoins is necessary.
If you’re serious about investing in bitcoin and see yourself buying a significant amount, we recommend using Bitcoin wallets that were built with security in mind.
  • Ledger Nano S – Ledger is a Bitcoin security company that offers a wide range of secure Bitcoin storage devices. We currently see the Ledger Nano S as Ledger’s most secure wallet. Read more about the Ledger Nano or buy one.
  • TREZOR – TREZOR is a hardware wallet that was built to secure bitcoins. It generates your Bitcoin private keys offline. Read more about TREZOR or buy one.
Bitcoins should only be kept in wallets that you control.
If you leave $5,000 worth of gold coins with a friend, your friend could easily run off with your coins and you might not see them again.
Because Bitcoin is on the internet, they are even easier to steal and much harder to return and trace. Bitcoin itself is secure, but bitcoins are only as secure as the wallet storing them.
Investing in bitcoin is no joke, and securing your investment should be your top priority.

Should you Invest in Bitcoin Mining?

The Bitcoin mining industry has grown at a rapid pace.
Mining, which could once be done on the average home computer is now only done profitably in specialized data centers.
These datacenters are warehouses, filled with computers built for the sole purpose of mining Bitcoin. Today, it costs millions of dollars to even start a profitable mining operation.
Bitcoin miners are no longer a profitable investment for new Bitcoin users.
If you want a small miner to play around with mining, go for it. But don’t treat your home mining operation as an investment or expect to get a return.

Final Thoughts

It’s important to understand how Bitcoin works before investing any money.
Bitcoin is still new and it can take months to understand the true impact Bitcoin can have on the world.
Take some time to understand Bitcoin, how it works, how to secure bitcoins, and about how Bitcoin differs from fiat money.
Bitcoin’s Price

There is no official Bitcoin price. Bitcoin’s price is set by whatever people are willing to pay. CoinDesk’s price index is a good resource.
Bitcoin’s price is generally shown as the cost of one bitcoin. However, exchanges will let you buy any amount, and you can buy less than one bitcoin. Below is a chart showing Bitcoin’s entire price history:

bitcoin price history


THANK YOU FOR READING .
HOPE YOU LIKE IT AND SHARE WITH YOUR FRIENDS TO ENJOY .....



Comments

Post a Comment

Thank you for Comment

Popular posts from this blog

What is Cheat Codes in Video Games...?

Hello Friends .... Today we learn about  What is Cheat Codes in Video Games...? So let's Start.... Cheating in video games involves a video game player using non-standard methods to create an advantage or disadvantage beyond normal gameplay, in order to make the game easier or harder. Cheats may be activated from within the game itself (a cheat code implemented by the original game developers), or created by third-party software (a game trainer) or hardware (a cheat cartridge). They can also be realized by exploiting software bugs; this may or may not be considered cheating based on whether the bug is considered common knowledge. Cheat codes originated in the play testing phase of video game development where the creators want to test certain portions of the game. So there's codes intentionally put in to make that process easier, such as having a near-infinite amount of lives to progress through a difficult (even for its creators) game like Contra. Who finds the ch...
Post a Comment
Read more

How Mobile Phones get Slower....?

Hello Friends .... Today we learn about   How Mobile Phones get Slower....? So let's Start.... If you’ve had your Android device for a while, you’ve probably started to notice some lag that wasn’t there before. Apps load a bit slower, menus take a bit longer to show up. This is actually (and unfortunately) normal—here’s why. This problem isn’t unique to Android, either—try using an older iPad with a new version of iOS and feel how slow it’s become. But the solutions are slightly different for each platform, so let’s talk about why this happens on Android—and how to fix it. Operating System Updates and Heavier Apps Require More Resources Your Android phone doesn’t have the same software it had a year ago (it shouldn’t, at least). If you’ve received Android operating system updates, they may not be as nicely optimized for your device and may have slowed it down. Or, your carrier or manufacturer may have added additional bloatware apps in an update, which run in the ba...
Post a Comment
Read more

How Light Gun Works..? Duck Hunt Game Explained..!!

Hello Friends .... Today we learn about How Light Gun Works..? Duck Hunt Game Explained..!! So let's Start.... A light gun is a pointing device for computers and a control device for arcade and video games, typically shaped to resemble a pistol. In aviation and shipping, it can also be a directional signal lamp. Modern screen-based light guns work by building an optical sensor into the gun, which receives its input from the light emitted by on-screen target(s). The first device of this type, the light pen, was used on the MIT Whirlwind computer. The light gun and its ancestor the light pen are now rarely used as pointing devices due largely to the popularity of the mouseand changes in monitor display technology—conventional light guns work only with CRT monitors For many children of the '80s, a good portion of your childhood probably revolved around sitting too close to the TV, clutching a plastic safety cone-colored hand gun and blasting waterfowl out of a pi...
Post a Comment
Read more