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Wednesday, June 6, 2018

What is Bitcoin?

  • What is Bitcoin?
Bitcoin is a digital currency created in 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite its not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins

[ While Bitcoins are the key player in the cryptocurrency marketplace, as you'll read below, the whole ecosystem is much greater than this one coin. For a detailed explanation of the world of cryptocurrency taught with graphic depictions and simplified example, check out Investopedia Academy's Cryptocurrency for Beginners course. ]


  • BREAKING DOWN 'Bitcoin'

Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret, and only used to authorize Bitcoin transmissions.

Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
  • How Bitcoin Works

Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionth of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places.

Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain, and receiving a reward in the form of few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of April 2017, the mining difficulty is over 4.24 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.

  • What's a Bitcoin Worth?


In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. 
(For more news and the real-time price of Bitcoin, check out the Investopedia Bitcoin Center)
Bitcoin's price is also quite dependent on the size of its mining network, since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began

Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.

Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.

Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.

Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.

Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.

  • Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.

Tuesday, May 29, 2018

Today Lme Inventory Update :

Today Lme Inventory Update : Mcx Star

Date : 29 - 05 - 2018

ALUMINIUM  -3600 COPPER  +1300  LEAD +100  NICKEL  -1512 TIN  -185  ZINC -175

A commodities exchange in London, England, that deals in metal futures. LME Stands for London Metal Exchange. Contracts on the exchange include aluminum, copper and zinc. Trading can be done in three main ways: through open outcry, a telephone system between member companies or the LME Select, an electronic trading platform. The LME is a non-ferrous exchange, which means that iron and steel are not traded on the exchange.

Monday, February 5, 2018

Mcx Holidays For The Calendar Year 2018-19

Mcx Holidays For The Calendar Year 2018-19

MCX Market Holiday 2018, Commodity market 2018 time tablet, Holiday in mcx commodities markets.


India Commodity Market Timings (MCX Trading Time / NCDEX Trading Hours)
Trading in commodity market takes place on all days of the week (except Saturdays and Sundays and holidays declared by the Exchange in advance). Please note that market trading hours may change. Please visit MCX / NCDEX website for more detail. Current market timings of the commodity segment in India are:

MCX Timings 2018 (MCX Trading Time)

  • MCX Timings: Monday to Friday 10:00 AM to 11:30 PM or 11:55 PM*
  • Morning Session Timing: 10:00 AM - 5:00 PM
  • Evening Session Timing: 5:00 PM - 11:30 PM or 11:55 PM*
* The evening session trading timings are being revised twice a year in order to comply with the US daylight saving timings. Usually summer the closing time is 11:30 PM and in Winter its 11:55 PM.
** Agri-commodities are available for futures trading up to 5:00 p.m. whereas other commodities such as Bullions, Metals and Energy products are available up to 11:30 pm / 11.55 PM and International referenceable Agri-commodities are available up to 09:00 pm / 09.30 PM
  • Check if MCX closed today?
  • What are MCX holiday hours?
  • MCX Market holidays for year 2018.

Trading Holiday 2018 MCX / Trading Holiday NCDEX 2018


Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX) of India remain close for trading on following days:

Wednesday, August 9, 2017

Today Lme Inventory

MCX to use LME prices for futures settlement.

London Metal Exchange (LME) has signed a licensing agreement with the Multi Commodity Exchange of India (MCX), according to which MCX would use the current prevailing prices on the LME for settling future contracts.
The agreement, signed for three years now, would be renewed depending upon the response from Indian traders.
Under this agreement MCX would flag off future contracts for aluminium, tin and nickel in small lots sizes of 1 metric tonne and would probably expand its wings to other metals in future.
Pricing of these commodities would be quoted in rupee term. “This is the first time LME has signed any such agreement outside United Kingdom and LME is confident of its overwhelming response from Indian traders,” said Simon Heale, chief executive, LME.

Thursday, May 11, 2017

Today LME Inventory : Aluminium -5775 Copper -2475 Lead -650 Nickel +456 Tin +0 Zinc +475

Today LME Inventory : Aluminium -5775  Copper -2475  Lead -650  Nickel +456 Tin +0 Zinc +475