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Bitcoin Price Top Notch $1,000 in First Day of 2017 Trades

Bitcoin examines the topmost jump on the very first day of 2017 from the last 3 years. Bitcoin is the web-based “crypto-currency that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system.

It was started in 2009 and created by Satoshi Nakamoto and according to the reviews, its value is increasing day by day. It is reported that it has The price of bitcoin inched upward over the course of trading today, passing $1,000 for the first time on CoinDesk Bitcoin Price Index since early January 2014. Total 21 million bitcoin can be mined as this is fix. It is the first decentralized cryptocurrency and most important it is the internet money. According to a survey bitcoins, value is completely increasing day by day as it comes to existence

 

WHY BITCOIN CAME INTO EXISTENCE:

 

Bitcoin is like a digital currency which can be used for peer to peer business. It is very popular online and is used by many peoples. The value of bitcoin fluctuates day by day as there is no controlling central authority for it. Peoples believes in bitcoin so they used it in trade. As it doesn’t have any backups from the government or any bank end.

People prefer using bitcoins because there are certain work people can’t do because of bank’s or other government authorities but through bitcoin, they can do it without any restrictions or interference from any third party.

How can people earn bitcoin? Let suppose 1 bitcoin has a value of 650$, the person who wants to buy bitcoin can buy it in exchange of 650$. One bitcoin can be broken into 8 decimal points. The bitcoin money will get store online electronically into that person account. The person can sell it or use it for purchasing online. The value of bitcoin may increase or decrease depends on onto. Bitcoins can be mined also but it requires a powerful system so that it can be resolved or transactions can be verified as these bitcoins are associate with the strong math problem. And that is the reason it comes in the market. As India is also adopting digital currency methods lets see how bitcoin can prove to be effective as internet money for the people across the world.

 

 Jasleen Kaur

                                                                                 “We don’t just build websites, we build websites that SELLS”

JAIN SOFTWARE FOUNDATION

 

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