[2015-02-08] Hindu: It’s digital encryption

[polynesia]

It’s digital encryption

http://www.thehindu.com/todays-paper/tp-national/tp-telangana/its-digital-encryption/article8208064.ece

Bitcoin is a virtual currency that is heavily dependent on digital encryption and can be traded for currency. Its value is largely determined by demand and supply.

Like most currencies of the world which are fiat currencies, Bitcoin’s value is not connected to anything in the real world. It had touched historic high of Rs. 76,000 in November, 2013, before falling steeply.

Currently, Bitcoin is trading at around Rs. 25,000.