Open AccessAN ANALYTICAL STUDY OF PRESENT POSITION OF BITCOINS
Author(s) -
Alka Mittal
Publication year - 2017
Publication title -
international journal of research - granthaalayah
Language(s) - English
Resource type - Journals
eISSN - 2394-3629
pISSN - 2350-0530
DOI - 10.29121/granthaalayah.v5.i1.2017.1913
Subject(s) - currency , position (finance) , virtual currency , code (set theory) , government (linguistics) , software , computer science , goods and services , bit (key) , computer security , cryptocurrency , commerce , business , telecommunications , economics , operating system , finance , economy , monetary economics , programming language , philosophy , set (abstract data type) , linguistics
Bitcoin is a virtual currency that is created from computer code. It has no central bank and is not backed by any government. But it can be exchanged for goods and services or for any other currencies. They were launched in 2009 as a bit of software written under the name Satoshi Nakamoto. The present paper analyse the Indian Tax and legal considerations regarding Bit coins. It also analyse the problems and risks related with Bitcoins.