what is bitcoin price ?

By | December 17, 2021

what is bitcoin price ?

The price of Bitcoin depends on many things. The two most important things between them are supply and demand. Bitcoin is found in a limited number. Only 2,10,00,000 bitcoins can be mined. In this case, if there is less demand than supply, the value of Bitcoin decreases and, conversely, its value increases. The highest value of Bitcoin in India was Rs 44,54,673.

Warning

A press release on virtual currencies like Bitcoin was issued by the Reserve Bank of India on 24 December 2013. It states that no official permission has been granted for the transaction of this currency and there are many levels of risk in making this transaction. Recently, the Supreme Court lifted the ban imposed by the RBI on Bitcoin. [1] On February 1, 2017 and December 5, 2017, the Reserve Bank issued another warning.

Criticism

Bitcoin has been described by many economists as a Ponzi scheme.

energy consumption

Bitcoin has also been criticized for its electricity used in mining. A bitcoin transaction costs an estimated 300 kwh of electricity, equivalent to the energy used to heat 36,000 kettles of water.

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