A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

History of Bitcoin – According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective pseudonym for more than one person. On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. In five days, the price grew 1000%, rising from $0.008 to $0.08 for 1 bitcoin. top of a price rally, during which the value was growing by 5-10% daily.

August 2008

Three individuals, Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application. All three individuals deny having any connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept. The three also register the site Bitcoin.org in the same month, over on anonymousspeech.com – which allows people to buy domain names anonymously.

BitcoinBitcoin trading at over Rs 2 lakh in India as global prices cross $2,500

A surge in demand has seen a price rally in crypto-currencies worldwide, with buying led by investors in the US, China, Japan, Korea and even India. The average bitcoin price is around $2,670, about 155 per cent more than at the beginning of the year. In India, it went up to trade at Rs 2.26 lakh at the time of writing this report.
With supply lagging, the India price is at a 20 per cent premium to the global one; the South Korean market is at a 35 per cent premium, at $3,800. The US Bitstamp index is quoting at a $100 premium to the Chinese market. In India, one exchange has had to issue a cautionary note to investors; another is facing a system slowdown.
Zebpay, the largest exchange here, with a little over half a million investors, tweeted: “Bitcoin prices are very volatile now. Please use caution while investing. This is a new technology innovation on a global platform but at an early stage. Your investment should match your knowledge (about the bitcoin).”