Hello Friends. Today I will tell you about Bitcoin. Most of the people have lots of query and questions about bitcoin. They want to know , is it safe to invest in bitcoin or not. First I will tell you what is the bitcoin? and how to use it as a currency?
Basically bitcoin is a virtual currency but bitcoin is not authorise by government. for example you have a currency so in your currency note you can see there is written “I PROMISE TO PAY THE BEARER THE SUM OF RUPEES” but in bitcoin it not happen. And you can use bitcoin with those peoples. who have faith in bitcoin. Suppose you make a 5000 peoples groups and you introduce a currency. So in your group everyone knows the currency value , but if you want to use outside your group then it will not accepted.
Why bitcoin price go up day by day? Every place same formula apply. Means to say that if a item quantity is low then price automatically go up. like if there is a shortage of onion in market then onion price will go up because onion quantity is low. Same with bitcoin, bitcoin is limited that’s why bitcoin price go up day by day.
And one more thing you should know for bitcoin dealing. You will need high power computers. so that you can store your bitcoin data in that computers and if any misshaping with your high power computers then you can lose your bitcoins. There is no security in bitcoin and its not authorise by government. If you purchase bitcoin then whole risk is your. And before sometime Reserve Bank Of India (RBI) Also say. There is no guaranty for bitcoin so invest your hard earn money with carefully. Because most of the peoples don’t have the full knowledge about bitcoin.
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