{"id":37890,"date":"2017-12-28T10:13:24","date_gmt":"2017-12-28T10:13:24","guid":{"rendered":"https:\/\/www.edristi.in\/?p=37890"},"modified":"2017-12-28T10:13:24","modified_gmt":"2017-12-28T10:13:24","slug":"ban-on-bitcoin","status":"publish","type":"post","link":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/ban-on-bitcoin\/","title":{"rendered":"Ban on Bitcoin"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Question: Which of the following countries of East Asia has recently issued an order to banks to deal in bitcoin?<\/strong><br \/>\n(a) Japan<br \/>\n(b) South Korea<br \/>\n(c) Taiwan<br \/>\n(d) Macau<br \/>\n<strong>Answer: (b)\u00a0<\/strong><strong><br \/>\nRelated Facts:\u00a0<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>On December 13<sup>th<\/sup>, 2017, South Korea directed their banks to stop transaction in Bitcoin.<\/li>\n<li><em>Bitcoin<\/em>is a new\u00a0virtual <em>currency<\/em>\u00a0that was created in\u00a0<em>2009 by using it <\/em>a person can be paid to someone anywhere in world.<\/li>\n<li>The special thing is that there is no need to make any bank a medium for this payment.<\/li>\n<li>Bitcoin is based on Peer to Peer Technology means that the Bitcoin transaction can be done between two computers.<\/li>\n<li>Bitcoin has been developed by an engineer Satoshi Nagamoto (fake name).<\/li>\n<li>1 Bitcoin = 10, 00, 00,000 (10 million) <em>Satoshi<\/em>.<\/li>\n<li>South Korea has directed to its financial institutions (banks) from transacting in this virtual currency.<\/li>\n<li>It has taken this step in view of the risk of bubble due to unexpected and steady acceleration.<\/li>\n<li>In the countries where there are more people using the Internet, the transaction of this virtual currency is increasing.<\/li>\n<li>Estimates show that ten million people in South Korea have Bitcoin which includes all the small investors.<\/li>\n<li>The price is 20 percent higher than the US due to its high demand.<\/li>\n<li>Its price was less than $ 1000 in January, while its price has reached $ 17,000 in the second week of December, 2017.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Reference: \u00a0\u00a0\u00a0\u00a0 <\/strong><br \/>\n<a href=\"https:\/\/news.bitcoin.com\/south-korean-banks-crypto-accounts-government-plans-a-ban\/\">https:\/\/news.bitcoin.com\/south-korean-banks-crypto-accounts-government-plans-a-ban\/<\/a><br \/>\n<a href=\"https:\/\/economictimes.indiatimes.com\/news\/international\/business\/south-korea-bans-its-banks-from-dealing-in-bitcoin\/articleshow\/62052999.cms\" target=\"_blank\" rel=\"noopener\">https:\/\/economictimes.indiatimes.com\/news\/international\/business\/south-korea-bans-its-banks-from-dealing-in-bitcoin\/articleshow\/62052999.cms<\/a><br \/>\n<a href=\"https:\/\/en.wikipedia.org\/wiki\/Bitcoin\" target=\"_blank\" rel=\"noopener\">https:\/\/en.wikipedia.org\/wiki\/Bitcoin<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: Which of the following countries of East Asia has recently issued an order to banks to deal in bitcoin? (a) Japan (b) South Korea (c) Taiwan (d) Macau Answer: (b)\u00a0 Related Facts:\u00a0 On December 13th, 2017, South Korea directed their banks to stop transaction in Bitcoin. Bitcoinis a new\u00a0virtual currency\u00a0that was created in\u00a02009 by [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":37578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[2338],"class_list":["post-37890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enew","tag-economics"],"_links":{"self":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/37890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/comments?post=37890"}],"version-history":[{"count":0,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/37890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media\/37578"}],"wp:attachment":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media?parent=37890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/categories?post=37890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/tags?post=37890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}