Bitcoin Forum
November 21, 2017, 03:58:38 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [2017-05-17]Despite RBI warning, 2,500 Indians investing in Bitcoins daily. Her  (Read 645 times)
newinbtc
Hero Member
*****
Offline Offline

Activity: 784


View Profile WWW
May 17, 2017, 03:51:01 PM
 #1

Post Link - http://economictimes.indiatimes.com/industry/banking/finance/2500-indians-investing-in-bitcoins-daily-here-is-all-you-should-know-about-bitcoins-its-usage-dangers/articleshow/58719151.cms

Despite RBI warning, 2,500 Indians investing in Bitcoins daily. Here is all you should know about its usage & dangers

MUMBAI: Despite the Reserve Bank's call for caution to people against the use of virtual currencies, a domestic Bitcoin exchange today said it is adding over 2,500 users a day and has reached five lakh downloads.

Zebpay, an app-absed Bitcoin exchange, said it has had five lakh downloads on the Android operating system and is adding more than 2,500 users every day.

The company, launched in 2015, said, the increasing downloads highlight the "growing acceptance of Bitcoins as one of the most popular emerging asset class."

RBI WARNING OVER BITCOIN:
RBI has been repeatedly flagging concerns on virtual currencies like Bitcoins, stating that they pose potential financial, legal, customer protection and security-related risks.

In recent cyber attacks, "ransomware'' hackers held victims hostage by encrypting their data and demanding them to send payments in bitcoins to regain access to their computers.

Bitcoin is a digital currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
Upto 80% off on branded luxury watches.Shoponista.com Plan your investment options, think about IPOsTomorrowMakers Recommended By Colombia


HOW BITCOINS WORK?
Bitcoin is not tied to a bank or government and allows users to spend money anonymously. The coins are created by users who 'mine' them by lending computing power to verify other users' transactions.

They receive bitcoins in exchange. The coins also can be bought and sold on exchanges with US dollars and other currencies.

HOW MUCH IS IT WORTH?
One bitcoin recently traded for $1,734.65, according to Coinbase, a company that helps users exchange bitcoins. That makes it more valuable than an ounce of gold, which trades at less than $1,230.

The value of bitcoins can swing sharply, though. A year ago, one was worth $457.04, which means that it's nearly quadrupled in the last 12 months. But its price doesn't always go up.

A bitcoin's value plunged by 23 per cent against the dollar in just a week in January. It fell by the same amount again in 10 days during March.

WHY ARE BITCOINS POPULAR?
Bitcoins are basically lines of computer code that are digitally signed each time they travel from one owner to the next. Transactions can be made anonymously, making the currency popular with libertarians as well as tech enthusiasts, speculators and criminals.

IS IT REALLY ANONYMOUS?
Yes, to a point. Transactions and accounts can be traced, but the account owners aren't necessarily known. However, investigators might be able to track down the owners when bitcoins are converted to regular currency.

For now, the three accounts tied to the ransomware attack appear untouched -- and it'll be difficult for perpetrators to cash in anytime soon without getting traced.

WHO IS USING BITCOIN?
Some businesses have jumped on the bitcoin bandwagon amid a flurry of media coverage. Overstock.com accepts payments in bitcoin, for example. The currency has become popular enough that more than 300,000 daily transactions have been occurring recently, according to bitcoin wallet site blockchain.info. A year ago, activity was closer to 230,000 transactions per day.

HOW ARE BITCOINS KEPT SECURE?
The bitcoin network works by harnessing individuals' greed for the collective good. A network of tech-savvy users called miners keep the system honest by pouring their computing power into a blockchain, a global running tally of every bitcoin transaction.

The blockchain prevents rogues from spending the same bitcoin twice, and the miners are rewarded for their efforts by being gifted with the occasional bitcoin. As long as miners keep the blockchain secure, counterfeiting shouldn't be an issue.

HOW BITCOIN CAME TO BE?
It's a mystery. Bitcoin was launched in 2009 by a person or group of people operating under the name Satoshi Nakamoto. Bitcoin was then adopted by a small clutch of enthusiasts. Nakamoto dropped off the map as bitcoin began to attract widespread attention. But proponents say that doesn't matter: The currency obeys its own internal logic.

An Australian entrepreneur last year stepped forward and claimed to be the founder of bitcoin, only to say days later that he did not 'have the courage' to publish proof that he is.
Join ICO Now Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511279918
Hero Member
*
Offline Offline

Posts: 1511279918

View Profile Personal Message (Offline)

Ignore
1511279918
Reply with quote  #2

1511279918
Report to moderator
1511279918
Hero Member
*
Offline Offline

Posts: 1511279918

View Profile Personal Message (Offline)

Ignore
1511279918
Reply with quote  #2

1511279918
Report to moderator
soyab0007
Hero Member
*****
Offline Offline

Activity: 560



View Profile
May 17, 2017, 05:11:27 PM
 #2

There will be more investors in future despite of warnings from RBI..
polynesia
Legendary
*
Offline Offline

Activity: 1246



View Profile
May 18, 2017, 02:25:34 AM
 #3

This story has been covered widely in Indian media.

http://profit.ndtv.com/news/market/article-bitcoin-users-growing-in-india-despite-rbi-concerns-1694857
http://www.business-standard.com/article/finance/despite-rbi-caution-bitcoin-exchange-zebpay-adds-2-5k-users-a-day-in-india-117051701092_1.html
http://timesofindia.indiatimes.com/business/india-business/zebpay-indias-domestic-bitcoin-exchange-reaches-500000-downloads-mark/articleshow/58719241.cms
http://www.thehindubusinessline.com/money-and-banking/despite-rbi-caution-2500-indians-investing-in-bitcoins-daily/article9704891.ece
http://indiatoday.intoday.in/story/despite-rbi-caution-2.5k-indians-investing-in-bitcoins-daily/1/956186.html
http://www.dnaindia.com/business/report-indian-bitcoin-firm-claims-5-lakh-downloads-at-a-time-when-rbi-cautions-against-its-use-2441951
http://www.hindustantimes.com/business-news/despite-rbi-caution-2-5k-indians-investing-in-bitcoins-daily/story-tbKmzxCivWhcwjRve9y1tI.html
http://www.moneycontrol.com/news/trends/current-affairs-trends/despite-rbi-caution-2-5k-indians-investing-in-bitcoins-daily-2282125.html
http://zeenews.india.com/economy/despite-rbi-caution-2500-indians-investing-in-bitcoins-daily-2006216.html
iram3130
Legendary
*
Offline Offline

Activity: 938



View Profile
May 18, 2017, 04:28:19 PM
 #4

There will be more investors in future despite of warnings from RBI..

Indian media covers each and every negative story regardless of the impact it can make on the general public. Everyone knows this nowadays so whatever they are doing they're just giving advertisement to Bitcoin.
Zebpay is getting 2500 new accounts everyday so I guess people know what to do.

           ▄▄█████████▄▄
       ▄████▀▀       ▀▀████▄
     ▄██▀▀               ▀▀██▄
    ██▀                    ████
   ██                     ███▀██
  ██                    ▄██▀   ██
 ██                    ▄██      ██
██▀                  ▄██▀      ▄███
██                  ▄██      ▄██▀██
██                 ██▀    ▄███▀  ██
██               ▄██▀   ▄██▀     ██
██▄             ▄██  ▄███▀      ▄██
 ██           ▄██▀ ▄██▀         ██
  ██         ▄██▄███▀          ██
   ██       █████▀            ██
    ██▄   ▄████▀            ▄██
     ▀██▄███▀            ▄▄██▀
       ▀████▄▄       ▄▄████▀
           ▀▀█████████▀▀
.L I V E T R E E   A D E P T TM.
Own the future of entertainment
The World's 1st Community-Powered,
Film, TV and Content Network  ★
AK47-
Sr. Member
****
Offline Offline

Activity: 336


Hero-The Future of Banking in Southeast Asia


View Profile
May 18, 2017, 05:12:35 PM
 #5

I think people can make their own decisions very well. Bitcoin has a great future ahead and most importantly bitcoin is individual's money. There are lots of benefits of bitcoin to an individual if not to a country. A country may see bitcoin as a threat because of quite obvious reasons. But people have hardly anything to do with that. For them bitcoin is a future of money which give them quite a lot benefit. So they will continue to use it and certainly more and more people will join it in future despite of the warnings.

▄████████████████████▄
██████████████████████
██████  ██████████████
██████  ██████████████
██████  ██████████████
██████  ██      ██████
██████  █  ████  █████
██████   ██████  █████
██████  ███████  █████
██████  ███████  █████
██████████████████████
██████████████████████
▀████████████████████▀
HERO.        The Future of Banking in Southeast Asia
  ■ Website   ■ Whitepaper   ■ Bounties   ■ Join our Slack
.    PRE-SALE
   starting soon
onrise
Sr. Member
****
Offline Offline

Activity: 308



View Profile
May 19, 2017, 01:53:43 PM
 #6

Well it will depend if govt gives green signal to btc then there would be lakhs investing in it. But this seems to be little away from the reality considering India and govt the ban is what many people are thinking in practical terms may come . Unless they accept the blockchain technology but bans the btc and bring their own coin which would be something new and alternate to btc.

||▄▄▀▀▀▀▄            ▄▀▀▀▀▄▄
█▀▀▄   ▀▀▄      ▄▀▀   ▄███
█   █▀▄   ▀▀▄▄▀▀   ▄██████
█   █  ▀▀▄      ▄█████████
█   █     ▀▀▄▄██████▀▀████
█   █        ████▀  ▄▄████
█   █        █▀  ▄▄███████
█   █         ▄▄████▀▀████
█    ▀▄      ████▀  ▄▄████
 ▀▀▄   ▀▀▄   █▀  ▄█████▀▀
    ▀▀▄   ▀▀▄▄▄█████▀▀
       ▀▀▄   ████▀▀
          ▀▀▄█▀▀
▄▄▀▀▀▀▄            ▄▀▀▀▀▄▄
█▀▀▄   ▀▀▄      ▄▀▀   ▄███
█   █▀▄   ▀▀▄▄▀▀   ▄██████
█   █  ▀▀▄      ▄█████████
█   █     ▀▀▄▄██████▀▀████
█   █        ████▀  ▄▄████
█   █        █▀  ▄▄███████
█   █         ▄▄████▀▀████
█    ▀▄      ████▀  ▄▄████
 ▀▀▄   ▀▀▄   █▀  ▄█████▀▀
    ▀▀▄   ▀▀▄▄▄█████▀▀
       ▀▀▄   ████▀▀
          ▀▀▄█▀▀
[]|
rajasumi3
Full Member
***
Offline Offline

Activity: 210


View Profile
May 20, 2017, 12:28:14 AM
 #7

Well because of this reason the price of bitcoins in the app is very high than the international market.i even signef the petition for legalization of bitcoins in india and it will be very helpful.

newinbtc
Hero Member
*****
Offline Offline

Activity: 784


View Profile WWW
May 22, 2017, 05:24:58 PM
 #8

Well because of this reason the price of bitcoins in the app is very high than the international market.i even signef the petition for legalization of bitcoins in india and it will be very helpful.

Nope ....

Due to huge publicity by wanacry virus , Every person want to know about what is bitcoin currency


In india specially , People getting effected with virus , so they Downloding zebpay app for creating address , may be in future they will use this currency as regular purpose
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!