Bitcoins are numbers you can trade with. People would be ready to exchange goods and services with bitcoins as they value the bitcoin numbers. Compared to currency which is made out of thin air by a central bank, bitcoins and other digital tokens, require massive computational power to generate, and have a base in global energy prices.
This idea of using a set of protocol to transact and create new bitcoins securely was published by an Anonymous author using the pseudonym of Satoshi Nakamoto. The paper was titled: Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi NakamotoContinue reading “Value of bitcoins; RBI on bitcoin; legality of bitcoin transactions in India”