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If you would have invested in cryptocurrency Bitcoin worth 100 $ in 2010, you would be sitting at a total of Bitcoin price of 80000000 $ right now
- Bitcoin market cap today is $172,565,842,974 USD, more than IBM and Walt Disney
- The cryptocurrency market cap has breached $300 billion
Bitcoin: What is it, where can you use it?
Bitcoin is a digital currency created in 2009 by a mysterious figure using the alias Satoshi Nakamoto. It can be used to buy or sell items from people and companies that accept bitcoin as payment, but it is not the traditional form of currency, Bitcoin is a cryptocurrency. Cryptocurrency, as the name suggests, are currencies generated by computer codes, thus it has no issuing agency (like Reserve Bank of India). Any cryptocurrency is generated by ‘miners’ on a cryptocurrency network like bitcoin that solves complex mathematical problems. The network is peer to peer and transactions take place between users directly through the use of cryptography, without an intermediary.
“The system can act as a payment network that has no down time, it’s operating 24/7, it doesn’t care where and to whom you send money,” says Michael Rauchs, a cryptocurrency and blockchain expert at the Judge Business School at the University of Cambridge.
Why is bitcoin’s price surging insanely?
Like any other assets or currencies, bitcoin price is determined by the amount that people are willing to pay for it. The bitcoin price, surged above $10,000 on Wednesday for the first time, breaking a symbolic threshold in what has been a vertiginous ascent this year. The increasing demand pressure from investors and speculators makes the case for an even further increase in bitcoin prices in the near future. Bitcoin is decentralized and limited which makes it rare. This is a major factor for many Bitcoin users. Bitcoin is hard for government to trace and tax. The Bitcoin price surged insanely after demonetisation in India. Also, unlike fiat money produced by central banks, there is a cap set on total Bitcoin, limiting how much the currency can devalue through inflation.
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On 22nd May 2010, Laszlo Hanyec bought a pizza for 10,000 bitcoins. The Bitcoin pizza is worth $105,830,950 today.
Will Bitcoin ever be a safe investment or always a gamble?
Despite RBI warning, 2,500 Indians investing in cryptocurrency Bitcoin daily. The lack of clarity about its origin is another big issue related to bitcoin. Investment in cryptocurrency is always a subject to risk, you should invest only what you are comfortable to lose. While some investors may be attracted by the massive rises this year, others will be wary of the volatility. In mid-January one bitcoin price was valued at $800. By June Bitcoin price had gone to $3,000. At the end of November it touched $10,000. If you are an experienced investor with a balanced portfolio and relatively small exposure, then BTC is an exciting and potentially lucrative investment. But there is potential for significant losses and investors need to carefully consider the method of investing.
“The general sensible view is that the more volatile the investment, the smaller proportion of your wealth you should consider storing in it,” says Marc Warne, founder of bitcoin exchange Bittylicious. I have heard of people moving their life investments into bitcoin and this is a bad idea.
Bitcoin’s current value and price is based on the belief that it will continue to grow as the main cryptocurrency in the world, but it only accounts for just over half of the crypto market capitalization, new currencies are being developed, launched and spent everyday. The competitor coin Ethereum, for example, launched in September 2015 and is now worth $440 per coin.
If you can stomach volatile kind of risk, you can handle trading in this market. After all Bitcoin Pizza is worth $105,830,950 today.
– by SHAURYA RITWIK, Shaurya is Sub-Editor at NewsGram and writes on Geo-politcs, Culture, Indology and Business. Twitter Handle – @shauryaritwik
Khadi is no longer a dull, drab fabric meant only for politicians' wardrobes. A fashion show organised by the Khadi Gramodyog Board as part of the Azadi Ka Amrit Mahotsav to mark the 75th year of India's Independence showcased the use of Khadi in traditional, as well as, contemporary and festive wear. From lehengas in resplendent Khadi silk to western clothes and casual wear, the models on Thursday night displayed new facts of the fabric.
Several well-known Indian designers including Ritu Beri, Farah Ansari, Rina Dhaka, Asma Husain, Aditi Rastogi and Himmat Singh showcased their designs. Gaurav Gaur directed the fashion show with clothes like lehengas, kurtis, kurta pajamas and partywear.
Lucknow's chikankari and silk artisans also participated in the event. A wedding collection in Khadi was the highlight of the show. "The show was based on the concept 'Khadi for nation, Khadi for fashion' and the fabric for all costumes was provided by Khadi Gramodyog Board," said a spokesman. (IANS/ MBI)
Keywords: lucknow, clothes, lehengas, fashion, fabric
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Intel saw its stock tumbling by more than 8 percent after the chipmaker said the industry-wide component shortage affected its PC chip business during the third quarter (Q3). Intel CEO Pat Gelsinger told CNBC late on Thursday that he didn't expect the semiconductor shortage to end until 2023. "We're in the worst of it now, every quarter, next year we'll get incrementally better, but they're not going to have supply-demand balance until 2023," Gelsinger was quoted as saying.
The company delivered its Q3 results with revenue up 5 percent (year-over-year) driven by strong demand in its DCG and IoTG businesses, despite the highly constrained industry-wide supply environment. "Q3 revenue was $18.1 billion slightly below our guide due to shipping and supply constraints that impacted our businesses," George S. Davis, Chief Financial Officer, said in a statement. He also announced plans to retire from Intel in May 2022. In the third quarter, the company generated $9.9 billion in cash from operations and paid dividends of $1.4 billion.
| Photo by Slejven Djurakovic on Unsplash
According to the company, the demand remains strong in its PC business with particular strength in commercial, desktop, and higher-end consumer notebooks. In an earnings call, Gelsinger said that the digitization of everything accelerated by the four superpowers of AI, pervasive connectivity, cloud to edge infrastructure, and ubiquitous compute are driving the sustained need for more semiconductors. "The market is expected to double to $1 trillion by 2030. In that timeframe, the market for leading-edge nodes will rise to be over 50 percent of the total, while the market for leading-edge foundry services will grow at twice the rate of the semi-industry overall," he envisioned.
PC demand remains very strong, and "We believe the 2021 TAM (total addressable market) will grow double digits even as ecosystem shortages constrain our customer's ability to ship finished systems," Gelsinger added. "Customers continue to choose Intel for their datacenter needs and our third-gen scalable Xeon processor Ice Lake has shipped over 1 million units since launching in April, and we expect to ship over 1 million units again in Q4 alone," he informed. (IANS/MBI)
Keywords: Intel, Chip, processor, Desktop, AI, Semiconductor, PC, Processor
Micro-blogging site Twitter has announced that its audio chatroom Spaces is now open to anyone who wants to host. The Spaces team in a tweet said that the users on both Android and iOS will now be able to host Spaces. "The time has arrived -- we're now rolling out the ability for everyone on iOS and Android to host a Space," the firm said in a tweet.
Earlier this year, the company had limited access to hosting Spaces to accounts with at least 600 followers, saying that it found these accounts would be more likely to have a good experience due to the existing audience. Twitter recently announced a new accelerator programme for creators on its audio conversation platform Spaces, to "discover and reward" around 150 creators with technical, financial and marketing support.
The 'Twitter Spaces Spark' programme is a three-month accelerator initiative. Those selected will get a stipend of $2,500 per month, $500 in monthly ad credits to spend promoting their Spaces on Twitter and early access to new Twitter features. They will also get support from Twitter's official social media handles, and "opportunities for prioritised in-app discoverability for well-performing Spaces".
Twitter has also announced plans to roll out paid Ticketed Spaces for iOS users where some hosts on its live audio feature can now sell access to Ticketed Spaces. Twitter had previously said that it will take a 3 per cent cut of creators' earnings from Ticketed Spaces. (IANS/ MBI)
Keywords: android, creators, ticketed, access, twitter, spaces