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Worlds Biggest Currency " Bitcoin " !! Do You Know ? & It's Valid In India Or Not?

          " 1 Bitcoin =16000 $ = 1100000 ₹ "


Bitcoin is an interesting form of currency that has many people wanting to understand more about it. It’s still emerging in the marketplace and is slowly but surely becoming a trusted way to pay for merchandise without revealing who you are.
What it is
Bitcoin is a new form of currency. And by new, I mean REALLY new. It first hit the scene in 2009. Basically, it allow for money transactions to occur with no fees, no banks, and you don’t even have to identify yourself. It’s the first time ever that there is absolutely no middle man involved with a money transaction.

How it works
There are a ton of ways that you can acquire, bitcoins for purchases. Mt. Gox is the largest Bitcoin exchange marketplace. You can also solve complex math problems to win Bitcoins. Then, you can use the Bitcoins to make anonymous purchases online.
Legality
Because there is a lot of gray area and governments aren’t really able to regulate it, some countries have banned the use of Bitcoin, but it’s legal in the US. Japan is a huge Bitcoin supporter and other countries are likely to follow suit.

Acquiring and owning bitcoins
  1. Buy on an exchange: There are several marketplaces that allow people to buy and sell bitcoins using different currencies
  2. Transfer to a friend: Sending bitcoins is similar to sending cash digitally. People can send bitcoins to each other via mobile apps or their computers
  3. Mining: People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how bitcoins are created

Inventor
The inventor is actually unknown. The founder used an alias, Satoshi Nakamoto. It kind of keeps the theme of anonymity going.
Is it perfect? No, not really. The ability to make purchases anonymously can make it easier to partake in illegal activity. However, nobody can deny the fact that it’s definitely revolutionizing the way that we conduct monetary transactions. We’ll have to stay tuned to see how it plays out into the future.

Bitcoin in India 


What’s the Plan, Government - Bitcoin or No Bitcoin For India?

Are Bitcoin and trading cryptocurrencies legal in India? The government has not come up with a definite answer but with multiple contradicting statements over the years. When it comes to the regulation of Bitcoin and other cryptocurrencies in India, there are three most relevant authorities where the word can come from— the Government of India, the Supreme Court or the Reserve Bank of India (RBI). Let’s analyze, what their views have been so far, and the direction in which we are headed.

Reserve Bank of India


Right now, we have a group of people who are looking at fiat cryptocurrencies. Something that is an alternative to the Indian rupee, so to speak. We are looking at that closely."  
However, he further added:
"As regards non-fiat cryptocurrencies, I think we are not comfortable...non-fiat cryptocurrencies like Bitcoins, for example."

Indian Government and the Supreme Court

“...As far as the Indian government’s stance is concerned, we have not given any legitimacy to cryptocurrency. Yes, we have received the report, and it is under examination.”

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