Rupees n Bitcoin

Indian Bitcoin Exchanges Now Under IT Scanner

Recently the Income Tax Department has come down heavily on major Bitcoin exchanges operating in India. According to PTI (Press Trust of India), various officials of the department under the command of the Bengaluru investigation wing visited the premises of nine exchanges in the country across Delhi, Bengaluru, Hyderabad, Kochi, and Gurugram, since early this morning. […]

South Korea and Bitcoin

South Korean Ministry of Justice Enforce Total Ban on Bitcoin Trading

The South Korean Ministry of Justice is reportedly planning to outlaw trading of all cryptocurrencies including bitcoin. Citing an official from Korea’s Ministry of Justice, the Nikkei published a report with quotes from the ministry official suggesting a complete ban on all cryptocurrency trading in Korea, now firmly established as one of the world’s largest cryptocurrency trading […]

Regulation on Bitcoin

Hong Kong Based Regulator Warns Investors of Unregulated Bitcoin Futures

Hong Kong based securities regulator has published a new circular centered on bitcoin futures contracts and cryptocurrency-related investment products. Published yesterday, the circular from Hong Kong’s Securities and Futures Commission (SFC) quickly reminded providers of bitcoin futures contracts and other crypto-investment products to comply with legal and regulatory requirements. The timing of the circular is no coincidence, […]

Energy Consumption for Bitcoin Mining Around the World

Bitcoin is perhaps the most valued currency in the world. The exchange rate as of Monday (27th Nov’17) stood at over USD 9,500 for one BTC. But, not many people are aware of mining bitcoin also costs a ridiculous amount of electricity to the world. The global electricity consumption used for bitcoin ‘mining’ has reached a level […]

What is Altcoin?

An altcoin is any digital cryptocurrency similar to Bitcoin. The term is said to stand for “alternative to Bitcoin” and is used describe any cryptocurrency that is not a Bitcoin. Altcoins are created by diverging from Bitcoin consensus rules (the fundamental rules of the cryptocurrency’s network) or by developing a new cryptocurrency from scratch. BREAKING DOWN ‘Altcoin’ “Altcoin” […]

A guide to cryptocurrency : Bitcoin and beyond

The digital currency has caused any number of headaches for law enforcement. Now entrepreneurs and academics are scrambling to build a better version. When the digital currency Bitcoin came to life in January 2009, it was noticed by almost no one apart from the handful of programmers who followed cryptography discussion groups. Its origins were […]

What is bitcoin and how does it work?

Bitcoin is a digital currency created in 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. Today’s market cap for all […]

Who is ‘Satoshi Nakamoto’?

Satoshi Nakamoto is arguably the biggest pioneer of cryptocurrency. Satoshi Nakamoto is the name used by the unknown person or persons who designed bitcoin and created its original reference implementation. As part of the implementation, they also devised the first blockchain database. In the process they were the first to solve the double-spending problem for digital currency. They were active in the development of bitcoin […]

What is ‘Satoshi’ in the World of Cryptocurrency?

Satoshi? It is the smallest unit of the bitcoin cryptocurrency. Satoshi is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.  All amounts in the block chain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When […]

Understanding What is a Cryptocurrency

What is a ‘Cryptocurrency’? A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using  cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies. A defining feature of a cryptocurrency, and […]