28 Dec'2017 20:19 GMT+5 | Bitcoin Crypto currency
BANGALORE, INDIA – This year 2017 has been a remarkable achievements for Bitcoin, a digital crypto currency and payment method, believed to be a zero cost of transaction, anytime anywhere without third party intervene such as bank.
First time in the history of crypto currency pioneered by Bitcoin touched $10,000 mark in second week of December this year and continued to climb another milestone and crossed unprecedented $19,000 mark in third week of December 2017. Way back to 2014 Bitcoin index price (BPI) recorded 250USD and reached 350 USD by until 2015.
How this crypto currency progressed leaps and bound? What technology drives bitcoin ? Is it a legal tender of money? Is it regulated by any authority, any Govt, any Country ?
Answer is simple here: Bitcoin is deregulated and decentralized form of crypto currency , not legalized by majority of countries , maximum limit has set to 21 million , 14 million has been mined as of my writing.
Blockchain is real technology , a piece of open source software which keeps record of all transactions with meta data and time stamps, also prohibits alteration and fraudulent practice, modification of certain important records by hackers, cyber criminals and bad guys who manipulate information or data with the help of insider.
Bitcoin has created by Japanese student named Satoshi Nakamoto (not real name).
Japan, Singapore and some European countries as well welcomed the idea . Russia, China and India are also considering to verifying its architecture to enter cashless society. Bitcoin has pioneered the crypto currency and many other has followed their legacy like Ethereum, Ripple, Bitcash, tether and Bitmark are some example of altcoin listed in crypto exchange.
Many researchers, scholars, scientist and intellectuals, institution’s, organisation’s considering Bitcoin as greatest idea and invention of 21st century not iPhone. Some philanthropy suggests even greatest invention in the history of human kind.
My first article on bitcoin published on 2015 at the time bitcoin index price was 350USD . After three years as of my writing bitcoin slipped to 17000 USD, and later 14,000USD by last week of December from its highest point of $20,000 mark.
Bitcoiin’s total market cap is 244 billion USD where total crypto market cap in the world is 550 billion USD. There is speculation in the world market that crypto currency market cap will be sooner or later going to touch 1 trillion in 2018.