What is Bitcoin? Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the systemShow more [+] works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Two Indian Fraudsters Arrested for Operating Bitcoin Ponzi Schemes
The Delhi Cyber Crime cell has apprehended two people for operating bitcoin-based Multi-level marketing (MLM) schemes, as reported by DNA. The duo offered unrealistic returns to lure naive crypto investors. The concept of bitcoin as an investment is still new in India, and scammers are taking advantage. Also see: Saudi Arabian Telecom Giant STC Set for […]
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Delhi High Court issues a notice to RBI for the baseless Bitcoin [BTC] and crypto ban – Indian community rejoice!
Reserve Bank of India [RBI] was served a notice from the Delhi High Court and it was regarding the RBI ban on cryptocurrency and businesses availing services on cryptocurrencies. Kali Digital Ecosystems Pvt. Ltd filed a case against the central bank at the Delhi High Court. Kali Digital Ecosystems was reportedly launching their own coin […]
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