Who invented crypto currency bitcoin?
Bitcoin (₿) is developed by satoshi nakamoto. Satoshi Nakamoto is the name used by the presumed pseudonymous. Bitcoin[a] (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. Which mean,
A pseudonym or alias is a fictitious name that a person or group assumes for a particular purpose, which differs from their original or true name. This also differs from a new name that entirely or legally replaces an individual's own.he has citizenshipof japan. Before developing bitcoin he has completed their Trained as a physicist at Cal Poly University in Pomona, Nakamoto worked as a systems engineer on classified defense projects and computer engineer for technology and financial information services companies.
What is bitcoin in virtual digital maket?
Bitcoin (₿) is virtual digital currency. It can't be existed in real world. We can't touch by their hand but bitcoin show only your account balance.first bitcoin develop in the year of 2009.It can't general acceptable. If both user agree to excganchange of their digital currency than change it. Bitcoin is decentralise currency. Central bank can not be manage their record and controlled. It depend on their user conduct their bitcoin record.Even time bitcoin is investments because it is limited and return huge profit. Most of tops companies invest their money. Like elon musk, jeff bezos, bill gates, etc
How to manage record of bitcoin and its transaction?
When bitcoin developed in 2009.There was main problem to store their record of its transactions. To find the solution of this problem. To made blackchain system to record the transaction. The Bitcoin blockchain is essentially an enormous, shared, encrypted list of all addresses that hold Bitcoin balances. Every new block represents the latest update to account balances. blockchain can be used to store any number of data points (votes in an election, product inventories, state identifications, deeds to homes, etc.For Bitcoin, this data includes the entire history of all Bitcoin transactions. If one node has an error in its data, it can use the thousands of other nodes as a reference point to correct itself.. It is type of software that main objective to record number and converted into the node codes.
Why price always rise in digital market ?
Before people only purchase bitcoin as mean of exchange. But in current time people are invested in bitcoin. Most business tycon has invested million rupes because there price is not stable in nature. It price always rise and fall with in 1 second. There has huge profit frome other digital currency. The bitcoin price depends on certain factor like law of demand, political, media awareness, business crisis. The main factor is law of demand. Demand is unlimites but resource are limited. We can't produce that product because its are limited. For example,If have demand of potatoes than you can produce and sales to fulfill customer demand. But In the case of bitcoin that have limited and people want to purchase at any cost.That reason to influence the price day by day of bitcoin.
Bitcoin value are controllable in nature?
No any one control their value of cost. Even central bank also doesn't take steps against him.
In the virtual market, we cannot predicted the future value of assets. But even the actual market we predict and decide their cost at atime.
Some interesting facts about bitcoin (₿)
If you purchase their bitcoin through the Internet. It shown balance on account. But really you purchase a specific address they named has bitcoin. For example. You deposited their money into the bank. If you checks their balance at any time. The account show total money that are deposited. But facts banks shows only number. Really the money does not available at time. Bank always invest their money. If all customers demands their money at a time. Bank cannot repay them their own money.
If you had purchase bitcoin in the year 2009 than price of bitcoin is ₹0. 04
But In the current time one bitcoin price start from ₹1800000
Government might be Accept Digital as legal transactions
In the india budget 2022, the government has decided to impose taxes on the earning amount from Bitcon or digital currency
Finance minister Nirmla sitaramaan has been declared budget of india. First she spoke about digital currency because india's more than population would have invested their money in digital currency. Due government concern about restrictions and regulations of money. In the budget has been declared that imposed 30 % tax on the income earning from Bitcoin and digital money. And also proposed 1% TDS charges on the transaction of digital currency
According to several reports, government officials might be established agencies or communities to inspection transactions and be followed given guidelines from government.
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