BITCOIN

Bitcoin is the digital cryptocurrency and a payment which was invested by satoshi nakamoto and a group of programmers. Bitcoin was introduced in 2008 and later given as a software in the year 2009 .This system runs on a peer to peer connection and there is no involvment of third party. The transaction occurs between sender and the reciever .Transactions are verified by the nodes and the history of all the transactions are available in the public ledger digital called blockchain.

Bitcoin is the first of its kind in the digital cryptocurrency and it has the highest market value in comparison to all other digital crytocurrency.Bitcoins are created as a reward in a competition in which users offer their computing power to verify and record bitcoin transactions into the blockchain. Miners get the bitcoins as the miner and all the transactions history is available in the market.

  • Blockchain-a blockchain is a public ledger where all the public transactions are recorded.suppose person A sends bitcoins to person B all the transactions will be listed in the public blockchain.These transactions are being controlled by nodes and is a part of the bitcoin software.blockchain
  • Transaction– transactions are a part of bitcoins where you can send the sender bitcoins in exchange of stuffs. you have to pay transaction fees as a part of miner  fees for the transaction to be complete.Sender should keep the transaction fees to be normal otherwise if they keep it low, the transaction to be complete may take a lot of time and sometimes it might not even get confirmend.
  • Unit-The unit of bitcoin is bitcoin .The smallest part of bitcoin is called satoshi which is equal to 0.00000001 btc , which is very very small.
  • Energy for mining-nowadays bitcoin mining is not profitable at all for a single person. Even if u try to go for mining you should you need a farm for mining and it will need a lot of energy ,i think to make it profitable you need solar power or any  other alternative sources of energy.

Supply-A successful miner is awarded with bitcoins for block .he is awarded with 12.5 bitcoins in 2016 .bitcoin blocking gets halved in every 4 years .So in the year 2020 if a person gets  a block he will be awarded with 6.25 bitcoins.

Wallet-Bitcoins are kept in wallet in which it has unique sets of words ,letters and numbers in which all your bitcoins are stored.Bitcoin wallet has to be stored at first so that you can keep  all your bitcoins safe.

Decentralization-Bitcoins is decentralized which means no third party or any government has the authority to control over it .

HISTORY

Bitcoin is nowadays considered as the virtual currency of the internet which can be bought online and offline and can be sell in exchange of fiat.

The first bitcoin atm was installed in canada,vancouver, british colombia.In this atm , it will show a bar code scaner and the person can send the  money instantaneously in exchange of bitcoins.as of now 900 bitcoin atms have been installed in the year march 2017.

Price and volatility-The price of bitcoins in the year 2012 was Rs20 and then suddenly it rose to Rs2144. in the later half of 2012 the price of bitcoin fell down rs 120.in the year 2017, the highest price of bitcoins rose to Rs 86000 in the international market.

BLACK  MARKET

Bitcoin is the only mode of transaction in the dark web for selling of drugs,weapons,child pornography,hire for murder service and the famous silk road. the silk road was shut down by F.B.I in the year 2013. well after that there have been other alternatives markets for the selling of all the illegal stuffs.

MONEY LAUNDERING

Bitcoin is being used for the money laundering during the demonetisation period .as of rule u can apply 1.5 lakhs to a bank. Here s the interesting fact, people who bought bitcoins send their  500 1000 notes to their banks and there were 1000 s of buyers of bitcoin available in the indian market .if a person send even rs 5000 to all the buyers in exchange of bitcoins, everything comes white.

moneylaundering

ADVANTAGES

Inspite of having disadvantages it has advantages

  • bitcoin is freedom as we can do all the transactions
  • bitcoin is  decentralized and no one has the control of bitcoins
  • bitcoin is digital currency and being accepted all over the globe for all the stuffs and the necessary things.
  • bitcoin will be the future currency which will  beat all the currency in the world.

In march 7th 2017, bitcoin has become costlier than gold.

It is predicted that the price of bitcoins will rise upto 3000$ by the end of 2017 and 100k $ in the year ,it s along way to go but we have hope in to become to the strongest digital cryptocurrency in the world.

BitGold

 

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JAISALMER

This is the best place i have ever travelled in my entire travel of rajasthan.

This place has a lot of things to offer .When you are entering the city you will amazed to see the beauty of works that have been made in the buildings which is totally hand made as before their are no machines at all for stone works.

On the first day after the reaching the RTDC hotel,we were suggested by the hotel manager to visit locals and took a guide which was provided by the hotel.RTDC HOTEL FOUNTAIN

We went to the famous SONAR KELLA (satyajit ray s film).It is a beautiful palace .From the top of the palace ,the scenary was breath taking .we clicked some pictures and went to a shop named NATIONAL HANDLOOM. It has the best quality saree and the kurta my dad bought had the characteristics that it will become cool in the summer and hot in the winter .And it felt right the same as said by them .

On day 2, we went to see to famous TANOT TEMPLE. The distance between jaisalmer and Tanot temple is around 120 kms. on the way , we saw so many windmills by SUZLON ENERGY.It was a beautiful scenary and the roads were beautiful.WINDMILL SUZLON

After we arrive in the temple,which was totally guarded by BSF(BORDER SECURITY FORCE).In this temple the pakistans had thrown thousands of bomb and it did not blast .It is said during that time TANOT MAA came and rescued that temple ,pakistan general was shocked to hear that and offer that temple GOLDEN UMBRELLA.INSIDE OF TANOT TEMPLE20170125_112918

We reached longawala after praying to the mata .It has a lot of history in it .The pakistans tried to enter india through longawala but were totally unsuccesful .on that area till now tanks and jeeps of pakistan are kept as to be shown to the common public .The experience was good and i came to know that the army had sacrificied a lot for our country.

Before going to SAM DHANI, we went to jain temple .this was a beautiful temple .The works and the  carvings of the walls are just woah .it had the golden texture and for just polishing the stone it took 5 years,which is quite a long time.And there is a snake ,as referred by the local,they consider it as god and sometimes comes out of the hole and very lucky people have the chance to see .JAIN TEMPLE20170125_15333720170125_153656

We reached  SAM DHANI from there as we had planned to see the sunset ,but could not see the sunset as their clouds. There we go to see the previous  pakistan border during the 1965 war.There was cultural program organised by the hotel people.The ambiance and the environment was relaxing and we enjoyed  a lot .SAM DHANI CULTURAL PROGRAMME

After we had our dinner ,we travelled back to

the hotel.