How virtual currency Bitcoin is gaining ground in India

MUMBAI: The regulators are wary of it, calling it a crypto currency, but the Winkelvoss twins believe it's the future. It was the favourite mode of payment on the notorious Silk Road, whose founder got thrown in jail, and a big cache of it did get stolen from the Mt Gox currency exchange. But bitcoin is gaining converts — even in India, where there are many regular users. "In the present situation, when there is so much of volatility in the equity and real estate markets, bitcoins have become one of my most reliable investment destinations," said Ahmedabad based Himanshu Sisodia , who's chief operating officer at hospitality company Greenleaves Management . "Moreover, with the Digital India initiative, money is bound to become virtual." He loves the ease with which it can be moved around. Bitcoins can be bought and sold online and remitted abroad with a single click on a s...

Full article: http://economictimes.indiatimes.com/tech/internet/how-vir...

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