On this episode of Orbital, Bitcoin enthusiasts Kawaljit Singh Bedi and Aqiul Colombowala join host Pranay Parab to talk about the world’s most popular cryptocurrency. Bitcoin has delivered 500 percent returns in 2017 and we answer all your questions about it. We start by talking about how currencies work, inflation and currency exchange. This may sound boring, but it is crucial if you want to understand what Bitcoin is and why you should care about it. Bitcoin is currently at an all-time high and it shows no signs of stopping its growth, but should You ‘Invest’ in Bitcoin now? We try to answer that question on this episode.
Next up, we mention how Bitcoin works, and what makes it different from other traditional currencies. This is where we talk about Blockchain technology and its uses beyond Bitcoin and cryptocurrency. Then there’s the inevitable mention of RBI looking Into cryptocurrencies, saying it is ‘not comfortable’ with Bitcoin. Bitcoin could be the fastest way to grow or lose your money, and that means we talk about Mt. Gox and the risk of losing Bitcoin.
Finally, we talk about how to buy and sell Bitcoin in India and whether these methods are legal since the regulations aren’t clear. Then we discuss methods to store your Bitcoin offline and how you could try to keep your Bitcoin investment safe. Lest you forget, we’re not financial advisors and this podcast is intended solely as a primer on what Bitcoin is and what the fuss is all about.