It’s raining bitcoins in Bollywood

Everybody is hooked on to Amit Bhardwaj’s latest Book, “Cryptocurrency for Beginners”

Celebrities have found the new age currency quite fascinating. Shilpa Shetty, Raj Kundra, R. Madhavan, Huma Qureshi Neha Dhupia, Vir Das, Nargis Fakhri, Prachi Desai and many others have joined the Bollywood bitcoin bandwagon. Looks like they all want to grab the opportunity to learn and trade in Bitcoins. Interestingly, all of them have been reading and tweeting about  Bitcoin Guru Amit Bhardwaj’s new book, “Cryptocurrency for Beginners”.

Some of the highly trending tweets from the Bollywood community are:

How Bitcoins work?

Bitcoin is a digital currency created in 2009 that uses decentralised technology for secure payments and storing money that doesn’t require banks or people’s names. It was announced on an email circular as a way to liberate money in a similar way to how the internet made information free. Bitcoin works on a public ledger called blockchain, which holds a decentralised record of all transactions that is updated and held by all users of the network

Why is Bollywood so excited about Bitcoins?

Bitcoin are traded at USD ($) 2028 per coin according to Coindesk, a company that helps users exchange bitcoins. That makes it more valuable than an ounce of gold, which trades at less than $1,230. Had decided to spend $5 (INR 320) seven years back on about 2,000 bitcoins, that stake would be worth $4.4 million today. With $1,200 spent on some 480,000 bitcoins, you would be worth at least $1.1 billion today.

There are several online portals in India where one can buy and sell Bitcoins. Some of the popular portals are, Coinsecure, Zebpay, Unocoin, BTCXIndia. According to MSN, there are approximately one million Bitcoin users or enthusiast in India alone, from all walks of life. People have discovered a new piece of technology that can help anyone do business and transact better.

According to Saurabh Agarwal, Founder of Zebpay, “Bitcoins are the new asset class”. No wonder it has caught the fascination of the Bollywood community.

Amit Bhardwaj, founder of Amaze Mining & Research Ltd and the Author of “Bitcoin for Beginners” started doing Bitcoin mining in the year 2012 and built his empire which now owns 5% hashing power of bitcoin network. According to Amit, Cryptocurrencies are the future. It will give people easy access to money”

Bitcoin’s currency technology, including its vaunted blockchain technology, is clearly a cut above the current status quo. If countries like China and India continue to gravitate towards this form of digital currency, with over 2.5 Billion people between them, Bitcoin is really most likely to become “the future of money.” No wonder Bitcoins have caught the fascination of Bollywood.