Cryptocurrency is a virtual currency, which you can neither see nor touch. Still the whole world is crazy about it, so I have brought this video for you in which we will know about cryptocurrency, bitcoin ethereum, mining, miners, blockchain but before that I would like to say thanks to all of you because my videos get your full support. And if you are new to market calling then please subscribe the channel as well as press the bell icon so that the notification of new videos reaches you first. Let's talk about cryptocurrency, then cryptocurrency which is also called digital currency, it is such a currency which is made only by computer and we can transact that currency only electronically. Every coin of cryptocurrency is encrypted meaning coded. The ownership of the coin is cryptographically secured so that duplicate coins cannot be created.
Cryptography is a technology used to transfer sensitive information from one place to another via the Internet, such as if you emailed a friend from India to Germany, that email would pass through multiple servers on the net. In the meantime anyone can read that email. In cryptography, plain text is converted into cipher text, so that anyone can see the email but cannot read it. Cipher text is the secret code that no one can read, it can only be read by the person who will have the decryption key, in this way the transaction of crypto currency takes place. Cryptocurrency was first used as bitcoin in 2009 and it was created by Satoshi Nakamoto. Now who was this Satoshi Nakamoto, no one knows, no one has seen him, only heard the name. It is not even known whether it is the name of an individual or a group. Today, in addition to Bitcoin, Ethereum, Dodge Coin, Polkadot, Shibu Inno, many crypto currencies have come in the market.But when all the countries have their own currency then what was the need of this crypto currency? Actually there are some features behind the discovery of cryptocurrency. As crypto currency is completely digital, the transaction is easy and safe, there is no control of any country or bank on crypto currency. There is more privacy in crypto currency transactions, anyone in the whole world can accept crypto currency if they want. In some countries it is completely banned like Bangladesh, Iraq, Nepal, Algeria, Morocco and in some countries it is legal i.e. you can invest and trade. India is also included in such countries. Right now in the budget of 2022, Finance Minister Nirmala Sitharaman has announced 30% tax on income from crypto currency and 1% TDS on transactions. In September 2021, El Salvador became the first country in the world to declare bitcoin a legal tender. The President of El Salvador, Naib Bukele, has also announced the creation of a bitcoin city there. In 2018, RBI issued a ban circular on cryptocurrency transactions. In 2020, the Supreme Court repealed the circular and recognized the investment and trading of cryptocurrencies in India. RBI has also given a proposal to the Government of India to bring its own digital currency. The number of cryptocurrencies is limited as the number of bitcoins is 21 million, more than that bitcoin cannot be produced. When Satoshi Nakamoto created bitcoin, it was controlled by many computers rather than in a single computer. All bitcoin transactions around the world are saved in a digital ledger that is secured with blockchain technology. Blockchain  technology is a very secure technology to store any data. The data of each bitcoin transaction is stored in a block and each block has a unique code called a hash. This hash is saved in that block, thus there are many blocks in the blockchain and the hash of each block is also saved in the next block. If any data is tampered with, the hash of that block will be changed, making the hash of the next block invalid. All these blocks are copied by many people in the network so any manipulation of data is almost impossible. To maintain the digital ledger of bitcoin or any cryptocurrency and to validate every transaction there are many people in the network called miners and this process is called mining. These miners get some bitcoins in reward for their efforts. Bitcoin mining is an automated process, for this one does not need to sit and do anything. For this, computers with very heavy configuration are installed, which costs a lot. Earlier this process was not so complicated, so mining was done with simple computer, then the speed of bitcoin production was high, then miners used to get good rewards. Now the competition is high and the bitcoin production speed has slowed down, which will further decrease as the last bitcoin moves towards production. So bitcoin mining or crypto mining is not very profitable anymore. In 2020 the price of one bitcoin was less than ₹ 10 and today the price of one bitcoin is more than 32 lakhs, the reason for this is the fixed quantity of crypto currency and since it is a decentralized currency, it is highly volatile. All of you should invest in crypto currency keeping this risk in mind.
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by [Website Name], a property of [Business Name]. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website. Through this website you are able to link to other websites which are not under the control of [Business Name]. We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them. Every effort is made to keep the website up and running smoothly. However, [Business Name] takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.