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Bitcoin has narrowed down the economy of many countries

Virtual currency bitcoin :- is constantly breaking its record. Its value has now crossed 15 thousand dollars per bitcoin. The sharpness of this currency can be estimated from the fact that at the beginning of this year, its value was only $ 800 per bitcoin, and in September it was valued at around $ 3,500. Now it has crossed the figure of $ 15,000 per bitcoin.

However, this increase could not sustain for a long time, and later it dropped two hundred dollars. But its direct impact is also the confidence of the investors on this cryptology continues. You might be surprised to know that this virtual currency has come down in a short time. On November 29, it had dropped 20 percent for just two and a half hours and its value was pegged at 11 thousand per bitcoin.

It is also worth noting that countries around the world are quite worried about taking this virtual currency. This is the reason why many countries and scholars have been warned that it can ever cheat their investors and there may be a major drop in at any time. All bitcoins, which are in circulation, that the total valuation is $ 190 billion.

The central government is not currently in a position to ban online transactions of virtual currency such as Bitcoin. In this case, the exclusion of the discussions within the government is that control of such currency is not possible in online procurement. However, the government has not taken any final decision on this. But in an inter-ministerial consultation on this, the Ministry of Information Technology has made it clear that it is not technically possible to curb the transactions through internet.

In order to consider the future of all types of virtual currency including bitcoine, the Department of Economic Affairs constituted an inter-ministerial committee. Four meetings have been held from April to April, on the possibility of banning the transaction of such digital currency.

Bitcoin beyond the total capital of many banks Another surprising point is that according to the July data of the World Bank, agriculture and tourism country, New Zealand’s economy is worth $ 185 billion. This is only about $ 5 billion less than the bitcoin’s capitalization.

Its valuation is more than countries like Qatar, Kuwait and Hungary. The world’s two highest-paying banks, Goldman Sex and the value of UBS, are also lower than bitcoin. The market cap of Goldman Sex Group Inc. was $ 97 billion on Friday, while the cap of Zurich’s UBS Group AG, which is the world’s largest wealth manager, is $ 67 billion. For instance, the total market cap of these two banks is also lower than the cost of bitcoin.

Bitcoin ahead of Boeing – Boeing Corporation’s market capitalization is $ 162 billion, which is less than that of Bitcoin’s 190 billion dollar valuation. Chicago is the world’s largest aerospace firm. It is a company that is more than 100 years old, with 1,40,000 people working in 65 countries of the world. This information is based on Boeing’s website.At the same time, its competitive company Airbus SE’s market value is 66 billion euros ($ 78 billion). Bill Gates and Warren Buffett remain at the top of Bloomberg’s Bellyer Index. Gates’s assets are $ 90 billion and Buffett has 83 billion dollars.

Controversy with bitcoin – Bitcoin is considered the fastest and efficient currency for financial transactions. Therefore, bitcoin is also called virtual currency. Today, the process of asking for ransom by sending viruses to computers around the world is also being done through bitcoin. Bitcoin remains in news due to black money, hawala scam, purchase of drugs, tax evasion, and excessive use of terrorist activities.Increasing use of bitcoin has put the security agencies to sleep in countries around the world. Here, the Reserve Bank of India or any other regulator has not given legal recognition to this virtual currency.

In the past days, there was a ransom war (Vana Krai) attack on computers around the world. All the user’s information was encrypted through this virus and the ransom was sought instead for giving it back. That’s why this virus got the name of a ransom virus. Ransom also was not sought in Rupees, Dollars, Pounds or any other currency, but was sought in ‘Bitcoin’.

To get back the data, many companies had to pay a huge amount in the form of ‘bitcoin’. Before the attack of Ransom Ware, few people in India had information about Bitcoin. But after the attack of Ransom Wearer on computers and mobile phones around the world, Bitcoin has climbed the word of all night and night.

As you know, bitcoine is a virtual currency. But today it has become the world’s most expensive currency. The number of people who use bitcoin in India is increasing constantly. Bitcoin is a cryptocycrine and it can be used as any common currency such as a dollar, rupee or pond. The only difference is that its transaction is only in digital format.The first crypto currency came into circulation in 2009 as bitcoine. Today it is being used for global payments. This is probably the reason why many developers and businesses have adopted bitcoin.

How does the bitcoin work?

Even if you do not understand the technique very well, you can still use bitcoin. As a new user, you can install bitcoinn on your computer or mobile phone as bitcoin wallet. This will create your first bitcoin address and you can create more than one address if you need it.Now you can give your own detection address to your friends. After this you can take payment from them or even pay them.

Countries around the world have their own separate currency. Trade is done through dollar all over the world, and the price of every currency is always up and down on the basis of the dollar. The way in which the rupee, dollar, euro, yen etc. are bought and sold in the Forex market, the purchase of bitcoin is also the same.

Bitcoin allows you to shop online, as well as can cash it. For this reason the exchange has been created worldwide. The New York Stock Exchange and Goldman Sex have also described Bitcoin as a very fast and efficient technique and have fervently admired it.

 

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About the author

Vishal Mehdwan

About me, Quite Interesting am a leading web content writer at Tinypost.co. More on I used to play cricket in Free time... Digital Marketing Nerd spending 18 Hour in front of Screen. Love Humanity.

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