The online fancy currency BitCoin is still popular among large number of people. Recently, STOCKHOLM a Nordic Venture has claimed that they have developed the biggest database for BitCoin dealers. The Database contains a list of near about 300 companies/ businesses dealing with BitCoins covering BitCoin Mining Pools, BitCoin Transaction Processing companies, BitCoin exchanges, and BitCoin gambling sites.
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According to the developer "The database give a clear overview to Entrepreneurs and Investors involved in BitCoin system. As the value of BitCoin depends upon the amount of systems involved, the investors can predict the variation in value using the Database".
Unlike Traditional currency, BitCoin is a non-physical currency. Its a piece of code which defines unit of value which moves from one user to another user. BitCoin uses peer-to-peer network and the transactions are completely secure and untraceable.
Since the launch of BitCoin in January 2011, they have gained a lot of popularity and the prices had been raised from 10$ for 1 BTC to above 1000$ for a 1 BTC in the period.
BTC Database
- The developers are hoping that the database will work Wikipedia and Contributers will keep on contributing to keep the service running. Currently , the database contains over 300 businesses dealing with BitCoins. Developers are planning to add BitCoin supported sites and Local dealers who are accepting BitCoins to make currency more convenient for users.
- Database lists 46 exchanges in North America, 24 in Europe and 21 in Asia.
- The Database is devolved on Knack [ An online Web Database Creating Application ] and is available online at http://bitcoin.knackhq.com/btcdb [Site was down during writing this article].
IS BTC is Stable enough to Survive
After the Blocking of world top underground forum silk-route responsible for 60% of BitCoin transactions by FBI, China & India has permanently banned the Use and Transfer of BitCoins in the country .
As their is no control of Government on production, transfer and use of BitCoins , they may emerge as a great threat to economy. Hence, There are a number of challenges before BitCoin and BitCoin users to keep the currency running.