Hackers hacked the Twitter accounts of current global leaders, actors, well-known entrepreneurs, and companies. On Wednesday, hackers hacked his Twitter account and demanded bitcoins.
Bitcoin is a cryptocurrency. It was made in 2008 by Satoshi Nakamoto. To date, however, it is unknown who is Satoshi Nakamoto. Is there an individual or association in there? It was first published in 2009 as open-source software.
No bank or government regulates it. In India, the Reserve Bank has not recognized this, but the Supreme Court has allowed transactions in cryptocurrency through virtual currency. That is, bitcoin can be traded in India.
Crypto means something that is not real. A crypto-currency is a machine algorithm-based money. It is available only on the internet and on the computer. It is an independent currency that has no owner.
This currency is not under the control of anyone’s authority. Digital or bitcoins are a computer on-line currency. Besides Bitcoin, the world has hundreds of other cryptocurrencies, such as Red Coin, Sia Coin, CiscoCoin, Voice Coin, and Monero.
In cryptocurrency the returns are very high, online shopping makes the transaction easy. There is no regulatory body for cryptocurrency, so situations like demonetization or currency devaluation do not affect it.
A laser is created for Bitcoin transactions. Millions of merchants in the world also deal with bitcoins. However, no central bank has recognized it yet. Many big companies in America also accept bitcoin.
In the world of the internet, many exchanges make it trading and selling. It is marketed through many websites and apps of the Internet. In this, the information of those who buy and sell is hidden.
Cryptocurrency also has many benefits. The first and biggest advantage is that there is a digital currency so that there is no risk of its disappearance or theft. People investing in Bitcoin have huge profits, but it has a lot of volatility, so the risk is also very high is.
Its biggest disadvantage is that it is a virtual currency and that makes it a risky deal. There is also a fear of this currency being used for illegal activities like the supply of drugs and illegal purchase and sale of weapons. There is always the danger of cyber attacks on it.
Many times in a single day, bitcoin fell 40 to 50 percent without warning. In April of 2013, the price of bitcoin fell from 70% to $ 67 from $ 233 in a single night.