Heads you gain, tails you earn: Bitcoin glitters in 2016http://economictimes.indiatimes.com/markets/stocks/news/heads-you-gain-tails-you-earn-bitcoin-glitters-in-2016/articleshow/56231841.cmsThe seven bitcoins, accumulated over the past many months, have turned big winners in Madhur Todi’s portfolio this year.
His other investments , which include stocks, bonds and mutual funds, have underperformed or yielded measly returns in 2016.
Todi hit the jackpot when global bitcoin prices surged from $430 to $910 per BTC (unit for bitcoins) in 2016. A gain of over 100% makes bitcoins the best performer when compared with conventional asset classes such as equities, gold, real estate and bonds.
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Can you launder black money using bitcoins?http://www.moneycontrol.com/news/business/can-you-launder-black-money-using-bitcoins_8171141.htmlThe rise of digital currency bitcoin has led to an air of mystery surrounding it, thanks to its complex nature. After the government's landmark decision to demonetise Rs 500 and Rs 1,000 currency notes, those hoarding black money have tried their hand at various ways through which to convert their ill-gotten stash. In fact, in the immediate wake of the decision, prices of alternate asset classes such as gold or real estate shot up in the gray market to the extent of which unscrupulous jewellers or developers could back-date purchasers and pass off old notes having being used to buy assets in the past.
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Bitcoin best performer of 2016, outlook bullish for next year
http://www.business-standard.com/article/economy-policy/rs-63-000-bitcoin-price-more-than-double-may-touch-all-time-high-in-2017-116122600186_1.htmlBitcoin has emerged as the most remunerative asset in 2016. Analysts are bullish on the asset class which has surpassed almost all others. Even gold, which was considered a safe avenue in times of crisis, has given up almost all the gain it has made during 2016.
In 2016, Bitcoin price has more than doubled and quoting around $875 (about 60,000), after touching a high of $916 last week. However, price movement in India was much sharper in the past three months. On Zebpay, one of the largest Indian bitcoin exchanges, in last three months, prices have increased from Rs 41,250 per unit to Rs 62,000. In November it touched a high of Rs 69,500, an all time high due to 40 per cent premium to international price, following a confidence crisis and search for alternative asset increased in India after demonitisation of Rs 500 and Rs 1,000 notes. However, later some overseas remittances came in to add to supply and some profit booking helped premium to settle 8-10 per cent to international prices.
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Our bitcoin turnover is over Rs 500 crore: Sandeep Goenka
http://www.dnaindia.com/money/interview-our-bitcoin-turnover-is-over-rs-500-crore-sandeep-goenka-2286435Sandeep Goenka, COO and co-founder, ZebPay, an Indian bitcoin exchange company says the value of the bitcoin has increased from around $300 last year to now over $700 with sudden rise of interest due to demonetization, in a interview with Collin Furtado.
How does a bitcoin exchange such as yours work? What are the services it offers customers?
A Bitcoin exchange works like any other commodity or stock exchange. It’s a place where buyers and sellers of bitcoins come together. Zebpay is an app available for Android and iPhones. Using Zebpay, you can store bitcoins and send or receive bitcoins, top up airtime, data card and pay DTH bills using bitcoins.
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After demonetisation, govt must prepare to fight challenge of digital black economyhttp://indianexpress.com/article/opinion/web-edits/after-demonetisation-govt-must-prepare-to-fight-challenge-of-digital-black-economy-4444296/
The demonetisation exercise was carried out to wipe out black money from the system. But the black money hoarders seem to have found leaks in the system and they are making use of them to launder their money and hide their cash in fake bank accounts by misusing other banking channels. However, one of the major issues that the government may turn its attention to is digital currency like bitcoin and its possible use to turn black money into digital black money.
Bitcoin is a digital cryptocurrency that is computer generated and not printed or minted physically like a country’s currency. It is created and held electronically in a decentralised system meaning no single person, bank, authority has control over it. It works as conventional forms of currency and is traded worldwide as well.
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Thanks for posting this but you didn't mention why you believe it to be a ponzi or did I miss something?
It is not a good practice to try to blame some individual or business entity without supporting evidence.
Assumptions should not be posted like facts
Hmm... If you have any doubts about GainBitcoin, you can read this thread. https://bitcointalk.org/index.php?topic=1440600.0I hope all your doubts are clarified.  |
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Why Bitcoin is considered a modern day safe haven in times of monetary uncertaintyhttp://tech.firstpost.com/news-analysis/why-bitcoin-is-considered-a-modern-day-safe-haven-in-times-of-monetary-uncertainty-353484.htmlIn anticipation of the Venezuelan demonetisation of the 100 Bolivar note, there has been an increase in adoption of Bitcoin in Venezuela. Venezuela has the highest inflation rates in the world, and Venezuelans are increasingly depending on Bitcoin to buy basic necessities and pay workers, according to a report in The Guardian. Foreign exchange transactions are under strict control in Venezuela, but Bitcoin occupies a legal grey area.
Bitcoin has several features that makes it an attractive investment in times of economic turmoil. The transactions do not require a third party authentication, the blockchain and the network itself keeps a public record of all transactions. The cryptocurrency is safe from the control of governments or banking systems around the world. Users can transact with a computer or a mobile device, and the transactions are instantaneous.
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Bitcoins accepted by over 500 merchants in India, says GBminers co-founder Amit Bhardwajhttp://tech.firstpost.com/news-analysis/bitcoins-accepted-by-over-500-merchants-in-india-says-gbminers-co-founder-amit-bhardwaj-353532.html
Demonetisation of the old Rs 500 and Rs 1000 notes has had mixed reactions from the nation. While the push towards digital transactions has increased, one still sees queues outside ATMs and banks. The reason being that a lot of services still rely on cash and India is still, for all practical purposes, a cash-first country. Wide-scale digitisation is one of the backbones on which digital economy can thrive. But thanks to our infrastructural limitations, there will be challenges in achieving that ‘less-cash’ dream that we keep hearing about.
Now while the fight between digital currency and physical currency carries on, there is another kind of currency that is slowly but surely gaining prominence in the Indian construct. Cryptocurrency. Or its more popular variant – bitcoins.
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Bitcoin's Total Value Hits Record High Above $14 Billionhttp://profit.ndtv.com/news/market/article-bitcoins-total-value-hits-record-high-above-14-billion-1640810
The total value of all bitcoins in circulation hit a record high above $14 billion on Thursday, as the web-based digital currency jumped 5 per cent on the day to its highest levels in three years after more than doubling in price this year.
The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014, putting the cryptocurrency on track for its best daily performance in six months.
That compared with levels around $435 at the start of the year, with many experts linking bitcoin's rise with the steady depreciation of the Chinese yuan, which has slid almost 7 per cent this year.
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Who owns blockchain? Goldman, Bank of America amass patents for coming warshttp://www.livemint.com/Industry/wj3NKgn3msPo4mOApg0eHM/Who-owns-blockchain-Goldman-Bank-of-America-amass-patents.html
In the headlong rush to revolutionize modern finance, blockchain enthusiasts are overlooking one potentially costly problem: their applications, built on open-source code, may actually belong to someone else.
Recently, some of the biggest names in business, from Goldman Sachs to Bank of America and Mastercard, have quietly patented some of the most promising blockchain technologies for themselves. Through mid-November, the number of patents that companies have obtained or said they’ve applied for has roughly doubled since the start of the year, according to law firm Reed Smith.
As the blockchain— essentially a shared, cryptographically secure ledger of transactions—evolves beyond its techno-utopian roots and startups like Chain and Hyperledger open their source code to the public, the risk is growing that patents will turn into powerful weapons in protracted lawsuits over intellectual property, especially in the hands of trolls trying to cash in on the technology’s skyrocketing rise. Increasingly, experts warn established firms will use them to assert exclusive rights over the work of blockchain’s pioneers.
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BNP Paribas makes first real-time blockchain payments for clientshttp://www.livemint.com/Companies/8XCBVb7NdMc1a7S1IePzqI/BNP-Paribas-makes-first-realtime-blockchain-payments-for-cl.html
France’s BNP Paribas said it had processed its first live payments in various currencies for two corporate clients via blockchain technology, in a further sign of the growing importance of the new technology for major banks.
Blockchain is a web-based transaction-processing and settlement system, whose efficiency banks say could slash costs. It creates a “golden record” of any given set of data that is automatically replicated for all parties in a secure network, eliminating any need for third-party verification.
BNP Paribas said it had processed and cleared payments in various currencies between BNP Paribas bank accounts located in Germany, the Netherlands and the United Kingdom for its clients Panini Group—an Italian card collections producer—and Australian packaging company Amcor.
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In a Post Demonetisation World, Some Indians are Giving Bitcoins a Closer Look http://gadgets.ndtv.com/internet/features/in-a-post-demonetisation-world-some-indians-are-giving-bitcoins-a-closer-look-1640239Ever since the announcement of demonetisation of Rs. 500 and Rs. 1000 notes in India, there's been a knock-on effect pushing more and more people to look at digital cash. For a lot of people, that's meant a push towards mobile wallets like Paytm, FreeCharge, and MobiKwik - these companies are rejoicing as downloads and usage have shot up. At the same time, there's also been a growing interest in Bitcoin, the somewhat controversial digital currency that has had a bumpy ride in the recent past.
According to Sathvik Vishwanath, CEO and Founder of Unocoin, a Bitcoin exchange based out of Bengaluru, the number of people active on the exchange has gone up from 20,000 to 120,000 a month. That might not be the same magnitude of growth that the wallets have been reporting, but then of course, you're not really going to be able to use Bitcoins to pay for your Uber ride, so that shouldn't be a surprise.
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Exposed: The unrestricted bitcoins bazaar that helps dispose illicit wealth during demonetisationhttp://indiatoday.intoday.in/story/black-money-cyber-threat-bitcoins-crypto-currency-digital-money-zebpay/1/838545.html
Cons are posing an invisible cyber threat to the nation's onslaught on black money, pedaling a risk-laden digital currency to tax thieves looking for safe hideouts for their illicit wealth, an India Today investigation has found.
Agents of the unrestricted online bazaar of bitcoins -- virtual money notoriously used by money-launderers and criminals for extortion, drugs and even supari killings -- were found to be facilitating investments from unaccounted wealth into the dark Internet tender, the investigation discovered.
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AT the moment Unocoin are the only ones who offers a SIP in bitcoin for India. This is actually a good way for new people who can deposit some money on monthly basis and buy bitcoin just like mutual funds. Great way actually to tap the market from new comers .
Rightly put, with Systematic investment plans for Bitcoins people would eventually relate it more to mutual funds and attribute the mutual funds "low risk" policy which might gain traction for Bitcoin SIP investments in India. In a country were people prefer low risks and higher returns, it's a good way to start. Unocoin is doing really great and I appreciate their efforts for contributing to the Indian Bitcoin community. I'm also eager to know more about their partnership with Bitwages, and how they'd get employers to make payments to their employees using Bitcoins. Nobody should dream that bitcoins are low-risk just because you buy them through an SIP. Mutual funds lower the risk associated with equity because of diversification and professional stock picking. An SIP is just a way to average your cost of purchase of an asset. |
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This news has been covered by Indian Express as well http://indianexpress.com/article/india/andhra-pradesh-blockchain-technology-cyber-crime-chandrababu-naidu-4434206/
“Andhra is rapidly digitising all its departments and it’s for the first time in India that a state government is opting for this technology. Blockchain is a complex and expensive technology that is known to be a foolproof system to prevent cyber crime and hacking,” J A Chowdury, IT advisor to the Andhra government, told The Indian Express.
Chowdury said that this technology (see box) has already been introduced, on a pilot basis, in two state government departments — Civil Supplies and Land Registration. “Discussions have started on introducing this technology in other departments, too. We will assess the performance in these two departments first. It will take up to six months to cover all government departments,” he said.
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Citi invests in blockchain company Cobalt ahead of second round of fundinghttp://tech.firstpost.com/news-analysis/citi-invests-in-blockchain-company-cobalt-ahead-of-second-round-of-funding-353268.htmlU.S. bank Citi has invested in blockchain venture Cobalt DL ahead of what the company expects will be a second round of funding next year, Cobalt said on Thursday. Citi’s support is the latest step forward for Cobalt, seen by industry players as one of several new initiatives in this area to deliver promised savings on processing currency trades. The U.S. bank is the single biggest trader of currencies globally and is also involved in a number of other moves that aim to cut the cost of settlement, credit and execution in the $5 trillion a day foreign exchange market. The size of Citi’s investment in Cobalt was not disclosed.
Blockchain, also known as distributed ledger technology, works as a web-based transaction-processing and settlement system. It creates a record of any given set of data that is automatically replicated for all parties in a secure network, eliminating any need for third-party verification. Foreign exchange trades currently need multiple records for buyer, seller, broker, clearer and third parties and then reconciliation across multiple systems.
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