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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