Bitcoin extends losses, slides another 12% on China warninghttp://www.livemint.com/Companies/olRmULR482xYIcy8cS15MK/Bitcoin-extends-losses-slides-another-12-on-China-warning.htmlBitcoin plunged another 12% on Friday after China’s central bank urged investors to take a rational approach to the digital currency, which it has on track for its heaviest two-day falls in two years.
Bitcoin had gained more than 40%in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record of $1,163 on the Europe-based Bitstamp exchange.
But the digital currency—which has shown an inverse correlation to the Chinese yuan in recent months—plunged as the yuan soared on Thursday, falling as much as 20% at one point, before closing the day around 10% down on the day.
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Bitcoin: Here's all that you need to know about the virtual currencyhttp://economictimes.indiatimes.com/magazines/panache/bitcoin-heres-all-that-you-need-to-know-about-the-virtual-currency/articleshow/56369446.cmsThe value of bitcoin surged above $1,100 on Thursday as the digital unit continues a dizzying rise that made it the best-performing currency of 2016.
Analysts have suggested a host of reasons for its appreciation, from global uncertainty and a strengthening dollar to demonetisation in India and capital controls in China.
Here are some key facts about bitcoin.
Bitcoin is a virtual currency that is created from computer code. Unlike a real-world currency such as the US dollar or the euro, it has no central bank and is not backed by any government.
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ET seems to have been a bit slow in publishing this article.  Bitcoins hit a 3-year-high, more Indians take to cryptocurrencyhttp://economictimes.indiatimes.com/news/economy/policy/bitcoins-hit-a-3-year-high-more-indians-take-to-cryptocurrency/articleshow/56369289.cmsTrump's love for all things Russia and Putin has had an unexpected effect on bitcoins, which surged to a three-year high. The cryptocurrency crossed the $1,000 on January 1and is currently trading at $990.87, bouyed by positive sentiment. Since, Russia has the second largest market for bitcoins after China, US President-elect Donald Trump's perceived friendliness towards the rival nation has spurred punters to bet big on cryptocurrencies in the New Year.
Bitcoins have risen 54% since November 8 ($709.2) when the US election results were announced. The demonetisation announcement in India also did its bit in popularising the use of alternate payment mechanisms in India. Investors like Chandresh Dedhia made a clean profit from their bitcoin trade.
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Bitcoin crashes after beating goldhttp://www.business-standard.com/article/markets/bitcoin-beats-gold-price-at-all-time-high-117010500592_1.htmlBitcoin, a form of digital currency, has seen one of its sharpest rallies and equally sharp falls in the last 24 hours of trading. This digital currency crossed the price of gold and traded at more than $1,200 in early trades on Thursday on China’s Huobi exchange, Beijing, whereas gold was quoted at around $1,177 per ounce on international commodity exchanges.
The Bloomberg data show Bitcoin has crossed its all-time high price of $1,137 notched on November 29, 2013 and reached a high of $1,155 on Thursday afternoon on the last few days of heavy speculation. From there it fell very sharply and is at present (India evening time) quoting at $890 as per the Bitstamp index and Bloomberg was also showing a price of $890. The last $200 fall was in just in one hour. Currently, it is trading around $970.
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Call to switch to new distributed systemshttp://www.thehindu.com/news/cities/Hyderabad/Call-to-switch-to-new-distributed-systems/article16994823.eceBlockchain, the technology behind Bitcoin crypto currency, can fetch multiple benefits, from cost savings, improved efficiency to transparency, for the banking and financial sector in the country.
“The time is ripe for its adoption in India,” said a White Paper brought out by the Institute for Development and Research in Banking Technology (IDRBT) on applications of the technology to banking and financial sector.
One of the most talked about technologies in the financial sector, block chain technology (BCT) has the potential to address certain limitations of the current processes in the sector. It can achieve this by “modernising, streamlining and simplifying the traditional siloed design of the financial industry infrastructure.” Former governor of RBI D.Subbarao released the White Paper at an international conference on Distributed Computing and Network that got underway at the Institute on Thursday.
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A year of Digital disruptionhttp://cio.economictimes.indiatimes.com/tech-talk/a-year-of-digital-disruption/2059The FinTech ecosystem has witnessed an influx of disruptors and enablers energised by the accelerated expansion in digital connectivity. The rising customer adoption of new technology, the emergence of digital-first and the expectations of a frictionless transaction has led to banks re-think the role of technology and deliver digital services built around the needs of their customer base. What is happening in banks will get replicated to insurance and healthcare over a period of time.
The other interesting concept is of blockchain which is becoming very prevalent. Blockchain is simply around eliminating data reconciliation issues so that one can have a common repository of data interchange for a consumer in a centralized space. That adoption and readiness for is becoming a critical part and that’s across industries.
For e.g. can pharma companies adopt blockchain for clinical trials so that people who are participating in clinical trials have a common repository and the interchange with them from all pharma companies is consistent? Big example continues from the banking space, more from the payment side etc. transaction side of the processing of the bank.
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Bitcoin nears all-time high as it becomes ‘safe haven’ assethttp://www.livemint.com/Money/jssrlWXqliolFXyt5bh3NP/Bitcoin-nears-alltime-high-as-it-becomes-safe-haven-asset.html
Bitcoin neared its all-time high Thursday, with the surging digital currency tipped to become a new safe haven asset as the world grapples with growing economic uncertainty.
The unit broke the $1,100 barrier on the Bitcoin Price Index, an average of major exchanges, to continue a dizzying rise that made it the best performing currency of 2016. It has fluctuated wildly since it was created in 2009 and lost three quarters of its value when it plummeted from its previous BPI high of $1,165.89 in 2013.
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Bitcoin hits highest level post demonetisationhttp://indiatoday.intoday.in/story/bitcoin-india-demonetisation-price-rise/1/849913.htmlWhile you stand in ATM queues and jostle for cash, virtual currency bitcoin has gained substantial traction in India. The bitcoin price has surpassed the $1,000 (Rs 68,000) mark, hitting its highest level since 2013 with a hike of nearly 30 per cent in its value since the Prime Minister announced the demonetisation scheme on November 8.
Experts say the cryptocurrency appeals to those worried about a lack of supply of cash but part of this price buoyancy can also be attributed to market-making initiatives of Indian exchanges.
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Sudden fall today in the price and went as low as 885$ from 1135$ just in a day  . Though from some time now price is getting back to 1000$ and trading at present 975$. Not sure what happened for such a sudden fall and if it could see 1000$ again or will slide down from now on. It is trading above $1000 now. Some kind of pullback was necessary. The market was definitely getting overheated. |
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What does "Indian share" even mean in this context  ? Bitcoin hits $17bn market cap.How much is the Indian share of the total market cap?
The value of bitcoins held by Indians? It really doesn't make much sense, given that Bitcoin knows no borders. |
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Bitcoin Jumps Above $1,000 For First Time In Three Yearshttp://profit.ndtv.com/news/market/article-bitcoin-jumps-above-1-000-for-first-time-in-three-years-1644231
Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 per cent climb in 2016.
Bitcoin - a web-based "cryptocurrency" that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system - jumped 2.5 per cent to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013.
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Yes All bank Tranx are Reversible as Per Bank...
Then I guess I should start paying my bills in bitcoins... there's a startup Idea... someone implement it plz... You needn't worry about how you pay your bills. The recipient should worry if his customers are paying bills through reversible means. Paying bills using bitcoins is not new. https://www.zebpay.com/#benefitsAirtime, Data Card or DTH Bills
Easily top up airtime, data card and pay DTH bills using bitcoins. You can top up airtime from over 15 operators in India. |
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price is now 64k to 65k INR.I can predict 100% chances are here that bitcoin would be cross $1000. Because you are right saying that bitcoin has been reached at $977. So let see, many hopes are here, if bitcoin continuously grow up and more. So it is really big good news for us, and we should celebrate it with Happy New Year.
The $1000 target price should not be our target. We should be looking at an INR 1 lakh bitcoin. That would mean a 40-50% hike over the last ATH. I think it is possible in 2017.  |
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Is this increase in tax applicable even to long-term retail investors?
If yes, then that's a very bad move. It'll discourage retail investors.
When you have something in view for a family and that too for their good, you will take small decisions, but being a PM of a country, I think his decisions are fair enough to justify what he has in his mind taking into consideration country's good, when taking such hard decisions that can possibly even ruin the whole economy. Hope he knows what he's doing so far. Politicians take decisions keeping in mind their public image and their votebanks. Investments in equities are made from tax-paid income. They are also subject to STT (Securities Transaction Tax). Our equity market is in a fledgling state and needs to be nurtured. These are the reasons why long-term capital gains in equities are not subject to capital gains tax. |
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“But if you stay invested over a longer timeframe, there’s good possibility you’ll pocket good returns… Bitcoin prices double once every four years. Going ahead, bitcoin prices may remain firm,” Benson Samuel added.
Something lost in translation, Benson? 
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Bitcoin is creeping back towards $1000
http://www.moneycontrol.com/news/rupee/bitcoin-is-creeping-back-towards-361000_8180961.htmlBitcoin is web-based digital cryptography currency, which is invented by an unidentified group of programmers on 31 October 2008. Bitcoin is digital cash and not backed by any government or central bank regularity, which is used for purchase of goods and services from select stores and online portals.
Bitcoin Index surged around 4% to 970 per dollar yesterday in pre-New Year holiday trade yesterday hitting its highest levels since January 2014. The index rallied almost 30% this month and 95% this year amid heavy buying from China and India as investors look to shield themselves from currency devaluation and cash shortage in the market. Bitcoin is one of the best performing assets of 2016.
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