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The Future Currency

Rohit Singh

ISTM ADR-FTP 29th batch

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What is Bitcoin

A new and emerging form of money

Digital Currency

Used for online purchases and transfers

Concept developed by Satoshi Nakamoto

Started in January 2009

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How does it work?

It is a software based payment system

You can send bitcoins electronically to anyone aspayments

All such transactions are recorded in a network

based ledger

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Who does control Bitcoin

Like Internet No one owns theBitcoin network

Bitcoin Users around the world themselves control it

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Value of a Bitcoin

1 BTC (bitcoin) = $634US = 38800 INR

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Advantages

Safer, Faster and very convenient

Privacy of transactions

None or Nominal Transaction Charges

No third party involvement

No paperwork (fully electronic/online system)

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Bitcoin in India

In November 2013, it gainedwidespread popularity

Laxmicoin The Indianversion of Bitcoin

RBI, ED and IT Dept. warned

the investors against the risks involved with it

The guidelines for the launch of Laxmicoin is stillawaited

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Where are they accepted?

And many more.

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Questions

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