Bitcoin..! After my previous artilce on May 02, 2018 I have received many queries asking what is bitcoin? How does it look like? Is it a kind of gold coin? Is it yellow in colour? So many questions! I appreciate their curiosity to know the Bitcoin. Because these days many are fooled by these technical words. It is easy to understand. If you have read my previous blog post, I had mentioned a story about monkey business. So the Bitcoin will be the next monkey business.
The symbol or logo of bitcoin is in gold colour with two parallel vertical line on B (฿ ).The term ‘Bitcoin’ comprises of two parts “Bit” and “Coin”. Bit denotes the relationship with technology, derived from bytes which are a unit of measurement in computer-related information technology. The coin carries the meaning of currency. Put together, this term means ‘digital currency’.
Coming to people’s curiosity, How it really looks like, The simple answer is you can’t see. You can feel the air but not bitcoin. Yeah, you heard it right. Bitcoin is a digital currency or virtual currency. You can see only in units. It looks like a long number on your bitcoin wallet. There is no physical significance for it, moreover, you cannot carry it in your pocket.
Like a bank account, you will have Bitcoin account/wallet. From the bank account, you can withdraw money anytime but not from Bitcoin account. To get money from Bitcoin, first, you need to sell the bitcoins. Once you complete a sale, you will receive the money into your cash balance and be able to either withdraw into your bank account, PayPal account or Bitcoin wallet.
Historical price.
Looking at historical record, In the year 2010 it was below Rs 5 but on December 15, 2017, it touched Rs 11 lakhs. After 50 days from the highest price, it fell to 4 lakhs. Currently it is trading at Rs 6,46,813 (May 04, 2018 @ 16:00 hours IST).
Year |
In Dollars |
In Rupees |
|
May 2010 |
2010 |
$0.01 |
₹ 0.66 |
July 2010 |
2010 |
$0.08 |
₹ 5 |
February 2011, |
2011 |
$1 |
₹ 66 |
Dec 2012 |
2012 |
$13 |
₹ 858 |
April 11, 2013 |
2013 |
$266 |
₹ 17,000 |
June 2013 |
2013 |
$70 |
₹ 4,500 |
October-November 2013 |
2013 |
$200 |
₹ 13,000 |
In 30 days, November 29, 2013 |
2013 |
$1,242 |
₹ 81,000 |
Mar 2015 |
2015 |
$200 |
₹ 13,200 |
January 2017 |
2017 |
$1,150 |
₹ 75,000 |
May 2017 |
2017 |
$2,000 |
₹ 1,32,000 |
June 2017 |
2017 |
$3,200 |
₹ 2,10,000 |
August 2017 |
2017 |
$4,500 |
₹ 2,97,000 |
September 12, 2017 |
2017 |
$2,900 |
₹ 1,91,000 |
October 21, 2017 |
2017 |
$6,180 |
₹ 4,00,000 |
November 06, 2017 |
2017 |
$7,300 |
₹ 4,81,000 |
November 20, 2017 |
2017 |
$7,988 |
₹ 5,25,000 |
December 15, 2017 Highest |
2017 |
$17,900 |
₹ 11,80,000 |
December 22, 2017 |
2017 |
$13,800 |
₹ 9,10,000 |
February 05, 2018 |
2018 |
$6,200 |
₹ 4,09,000 |
May 04, 2018 @ 16:00 hours IST |
2018 |
$9,669 |
₹ 6,46,813 |
Historical Price Source: Wikipedia
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