THE CRYPTO CURRENCY

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Hey guys this is"GROW YOUR KNOW" the host and dost of yours for this article, and today we will be discussing about the crypto currency and mainly about bitcoin. 

So let's start. 



Imagine about a thing which was having no worth at all when it was created , and today that worths 1.5 million INRS . It sounds fascinating, doesn't it. Yes guys I m talking about the first ever cryptocurrency, BITCOIN. 

 Around 12 years ago on 31 Oct 2008 japanese men SATOSHI NAKAMOTO  published some kind of codes written on computer over internet. This was the first bitcoin. Satoshi had a vision of such a currency which is not regulated by any government bodies or any central bank. But at that time it was just a thought of him. By the time the value of his idea started increasing, and the bitcoin is now available on high values. 


First of all let's know the history of our currency system
 

To know more about the bitcoin we have to understand the history of world currency. I know most of you are not interested in history of anything, it seems Boring sometimes. Isn't it. So I will not dive deeper into the history , only the valuable and related history will be covered.

 our currency system  is based on the belief .it means that our currencies are backed by the financial bodies let's take an example .. take any kind of note from your wallet and you will find written on it that I promise to pay the bearer the sum of XYZ amount . and you will find the sign of the governor of the central banks .without sign of the Governor any note is not valid . it's just a piece of paper .

During 1939-1945 the second world war was there. In this war USA became a powerful nation as well as it's currency too became strongest. The reason of strength of the US DOLLAR 💲 was the gold. Doller was backed by the gold price . so most of the countries alligned their  currencies with us doller .  Thegold is having  actual value is always. But a normal /common man cantYou must have questions in your mind that how these are relevent to the cryptocurrency.........

actually banks and the government is having full control over the monitory policies in every country . .

Lets suppose you have deposited  100000 INRS in xyz bank .The bankers assures you that you will get some amount of intrest after abc time. till abc time you are allowing to the bank to play with your money.They just invest your money in some other activities to get more profit. some times it is seen that the bank gives debt to some buisnessman ,and if those buisnessmen fail in their industry ,they cant  pay the debt to the bank ,and thus that asset of the common person becomes non performing asset(NPA). 

The people who believe in cryptocurrency and support it , they don't want that the government and the central bank should not have such control on  their own assets . 

I hope that the very basic knowledge of the cryptocurrency , you are having now. 
In further article I will be clearing the working principle of cryptocurrency and other things too. 

 


Thanks for reading full article. Do share this with atleast one of your friend or family member. 






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