.....Bitcoin is a virtual currency, or crypto-currency, used only for online transactions. Though not backed by any central bank, it is traded on a number of exchanges or swapped privately. It is generated by a process called 'mining', for which one requires particular software. Theoretically, it is possible for all computers across the world to run the software and locate bitcoins by solving an algorithm. But it is akin to winning a lottery by solving a puzzle; only some computers can do this because one needs high-end ones with fast processors and uninterrupted power supply, difficult in India. This is what makes bitcoins so valuable, not just in India but worldwide...........
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