[2017-05-05] Mint: The day I wished I had bought more bits

[polynesia]

The day I wished I had bought more bits

http://www.livemint.com/Money/g5s4t0BJ4wUgmPPYF8mOsO/The-day-I-wished-I-had-bought-more-bits.html

On Friday morning, a notification bleeped on my smartphone. It read: “Bitcoin at Rs100,647.”

For those who’re still living in caves, bitcoin is a crypto-currency created through encryption techniques.

The value of a bitcoin has breached the Rs 1 lakh mark, making me wish I had bought more bits—or fragments of a bitcoin that one can buy and sell. One million bits make a bitcoin.

I bought one lakh bits in September 2016, and these have given me a 142% point-to-point return.