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What Is Bitcoin? | Cryptocurrency Explained In Hindi | Vanshdeep Narang

The Unpopular Opinion
132 subscribers
5.2K views 4 years ago
Instagram- @theunpopularopinionn   / theunpopularopinionn   A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions. Cryptocurrencies like Bitcoin, Ethereum have gained immense popularity thanks to their decentralized, secure and anonymous nature, which supports the peer-to-peer architecture and makes it possible to transfer funds and other digital assets between two different individuals without a central authority. In 2008, after the global financial crisis, a need was felt to democratize how currencies are held, exchanged and regulated. That year, an anonymous person, under the pseudonym ‘Satoshi Nakamoto,’ invented Bitcoin. Nobody yet knows who and where Nakamoto is. That was the birth of cryptocurrencies. Ever since, many other cryptocurrencies were invented, but Bitcoin remains the most popular. Blockchain is a techno …...more
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What Is Bitcoin? | Cryptocurrency Explained In Hindi | Vanshdeep Narang
67Likes
5,267Views
2021Jul 3
Instagram- @theunpopularopinionn   / theunpopularopinionn   A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions. Cryptocurrencies like Bitcoin, Ethereum have gained immense popularity thanks to their decentralized, secure and anonymous nature, which supports the peer-to-peer architecture and makes it possible to transfer funds and other digital assets between two different individuals without a central authority. In 2008, after the global financial crisis, a need was felt to democratize how currencies are held, exchanged and regulated. That year, an anonymous person, under the pseudonym ‘Satoshi Nakamoto,’ invented Bitcoin. Nobody yet knows who and where Nakamoto is. That was the birth of cryptocurrencies. Ever since, many other cryptocurrencies were invented, but Bitcoin remains the most popular. Blockchain is a technology on which Bitcoin – or any other cryptocurrency – works. It’s nothing but a sophisticated record-maintaining system run by several users in a decentralized way. The speculative potential of what Bitcoin can become once it finds global government acceptance and become legal tender is a key driver. In April 2018, the RBI virtually banned cryptocurrencies and prohibited all regulated entities, such as banks, from allowing anyone to trade in them. So, you could no longer transfer funds from your bank account online to a cryptocurrency exchange for buying a Bitcoin or any other cryptocurrency. But in March 2020, the Supreme Court said that such curbs are illegal. Higher demand and lower supply lead to higher prices. The current stage of Bitcoin is one where there is limited supply and a very high demand. That is why Bitcoin’s price shot up 414 percent between March 2020 and January 2021. In This Video I Have Explained The Following Topics- Timecodes 00:00​ - Introduction 00:49 - Need for cryptocurrencies 02:42 - What Is Bitcoin? 04:23 - Bitcoin's Concept 04:54 - Decentralized system 05:47 - Bitcoin Mining 08:07 - Blockchain technology 09:04 - Public Ledger 10:06 - Advantages 11:22 - Disadvantages 12:08 - Why Do Bitcoins Have Value? 14:55 - Cryptocurrency Ban 17:06 - CBDC 18:13 - The Unpopular Opinion

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The Unpopular Opinion

132 subscribers