“Bitcoin the Internet Money” Boon or Bane
| International Journal of Economics and Management Studies |
| © 2018 by SSRG - IJEMS Journal |
| Volume 5 Issue 1 |
| Year of Publication : 2018 |
| Authors : B AshaLatha |
10.14445/23939125/IJEMS-V5I1P101
How to Cite?
B AshaLatha, "“Bitcoin the Internet Money” Boon or Bane," SSRG International Journal of Economics and Management Studies, vol. 5, no. 1, pp. 1-7, 2018. Crossref, https://doi.org/10.14445/23939125/IJEMS-V5I1P101
Abstract:
The conception of crypto currency or Internet Money is difficult to recognize and accept, but easy to use. It is considered difficult, mostly because it is entirely different from the orthodox currencies that people are using since ages. The most stimulating part of the usage of the new form of internet money is that there is no central or main stream authority like Central or Reserve Banks that control and checks the flow of these currencies. It is completely decentralized. With the surging prices of the costlier currency in the world market and the way it is getting costlier every passing day. On November 3, the leading Cryptocurrency’s price surged up by $400 within 24 hours, hitting $7,450. For the past 12 months, Bitcoin price has gone up by tenfold, making Satoshi Nakamoto, Bitcoin founder who owns 980K Bitcoins richer on Forbe’s rich list. Cryptocurrency has created unprecedented changes in the market challenging the various global financial markets having positive and negative contribution. With this paper we will study when was the concept of Cryptocurrency gained its importance and what are its important types and its performance? What is its implication in Indian market? Objectives of the study are to learn about the concept of Cryptocurrency market, its types and its top player Bitcoin.Functioning of Bitcoin its financial implication. Applicability of Cryptocurrency in Indian financial market.
Keywords:
Cryptocurrency, Internet Money, Bitcoin, decentralized banking.
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