blog@Yantrajaal

In an earlier post, " First Look at a New Currency ",  I had written about my hesitant entrance into the world of the Bitcoin economy and today, the Economic Times has an article that shows that even the regulatory bodies in India have started to have a point of view on this strange and disruptive technology. Since then, many people have been asking me about this piece of technology so let me take a stab at trying to understanding this currency that has appreciated from just US$ 200 to US$1000 in the space of just one month. First question : What has caused this sudden jump in the value of Bitcoin ? Well the answer is that US Regulatory agencies have declared that there is nothing inherently wrong or illegal with the usage of this currency and the US cannot fall behind the rest of the world, and particularly China, in adopting this new technology. This has set off a flurry of trading activities that has resulted in this huge increase in the price. Second question : Is...