There is a good and a bad news for people who are involved in bitcoin. Digital currency bitcoin crossed $ 7000 (about 4.51 lakh rupees) for the first time on Thursday. Bitcoin prices have increased five times this year. This is good news for those who invest in Bitcoin, but the next step of the Indian government could turn their dreams on. A panel constituted by the government to ban cryptocoin in the country has suggested to ban the cryptocoin dealers in India. This can be done to deal with cyber threats.
Market experts believe that by banning cryptocoin dealers, nothing will be achieved. Hesham Rehman, who is operating Bitcoin Exchange Bitxoxo in India, said instead of banning cryptocoin dealers, the government should take such steps, to prevent bitcoins from buying and selling in cash.
What is bitcoin?
Bitcoin is a digital currency that is not connected to any bank or government and allows users to spend money while anonymous. This bitcoins gets paid to allow other users to use their computer services to validate the transaction, which is called 'min' to bitcoin. Bitcoins can also be bought and sold for US dollars and other currencies.
Why are popular?
Bitcoins are basically lines of computer code, which are digitally signed every time they send from one owner to another. The transaction can be done anonymously, in addition to popular among tech-savvy people, it is also popular among bookmakers and criminals.
Government had sought opinion
The government had sought the opinion of ordinary people regarding digital currency bitcoin. The government had questioned people about considering Bitcoin as the subject of restricted, controlled or self-regulation and asked for feedback. The government had asked the people's opinion on these questions so that decision can be taken to bring virtual currency bitcoin in practice. The panel constituted by the government has suggested to ban the cryptocoin bitcoin dealers.
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The @OriginalWorks BETA V2 bot has upvoted(0.5%) and checked this post!
Some similarity seems to be present here:
http://indianexpress.com/article/technology/tech-news-technology/what-is-bitcoin-a-look-at-the-digital-currency-4654938/
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good post
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Congratulations! In addition to the vote from @randowhale, you also received a vote from @randowhaletrail!
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They will change their mind. Sooner or a later.
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definitely, they have to.......
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This post has received a 0.24 % upvote from @drotto thanks to: @banjo.
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