Hathras Gang Rape Coverup  | Explained

Hathras Gang Rape Coverup | Explained

image credit Times Now

You might recall that the horrendous Nirbhaya incident happened around 8 years ago, which outraged the people so much that they came out on the streets to protest. Candle marches were organized to India Gate. The opposition leaders back then raised their voices, protested and demanded for justice.

The family of Nirbhaya were persistent in their demand for justice and Nirbhaya finally got it after 8 years.

Imagine, if in the case of Nirbhaya, India Gate was blocked, the public was prevented from protesting and the opposition politicians that wanted to protest and raise their voices, were arrested.

Not only this- Imagine if in the case of Nirbhaya, the body was disposed off as quickly as possible, and cremated so that if there was a call for a second round of postmortem, no one would be able to say anything

"Sir please just tell me what is burning..."

"I belong to the Crime branch. -Just tell us what is burning"

If the entire area was sealed and the media was denied entry. If the media tries to enter, deploy policemen outside that would bar them from entering.

"These policemen are not letting us go forward"

"They've surrounded us from all sides..."

Along with this, imagine if in the case of Nirbhaya, her family was threatened and blackmailed, to change their statement that their girl was not raped, it was a case of murder due to family disputes.

"Is the DM giving threats? Yes, he threatened him and kicked him on his chest"

"Who did he kick? He..."

"It is upto you now if you want to change your statement or not..."

And then the entire government system tries to prove that the news of rape was fake.

Online trolls were let loose on social media to establish that the rape was fake news and a PR agency is hired.

The job of the PR agency was to set an online narrative that the rape was fake and that this is all a ploy of the opposition.

Sounds unbelievable, right? I think so too. Even the Bollywood writers cannot come up with such a story. But this is exactly what is unfolding in the Hathras case of Uttar Pradesh. Honestly, I don't like Writing Articles on such topics.

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First of all, to recount the incidents that unfolded in the crime that took place (rape/murder) is not pleasant. And secondly, the people have become so sensitive regarding caste and religion that if you demand for justice for one crime, then they would be like Leave aside this one, talk about the crime that happened in that Congress ruled case.

You'd say that you're striving for justice and women safety but would be met with responses like What about that crime, that happened against the upper caste victim.

Talk about the crime that the people from the other religion perpetrated. Why are you silent on that?!

The "what aboutism" has become so rampant regarding the crime related incidents that it has become impossible to talk about them.

There is doubt about the fact that the conditions of women safety are extremely poor in our country today. The crimes against women are the same, if not worse than how it was 8 years ago.

Corona Virus Fully Explained | Symptoms, Causes

Corona Virus Fully Explained | Symptoms, Causes

As on 5th February, 2020, due to the widely spreading corona virus all over the globe, more than 24,000 people have been infected and more than 494 people have died.

  • Is it really that dangerous? Do you really need to be afraid?
  • Or is the media making a mountain out of a molehill and creating an atmosphere of fear?

Come let us see

The first thing you need to understand is that Corona Virus is not the name of a single virus. The name Corona Virus has been assigned to a family of viruses.

Should I tell you an interesting fact?

  • The common cold- the cough and cold that you catch during winters- that too, is a type of Corona Virus.

In 2002-03, a SARS virus had become widespread, if you remember. That too, was a type of Corona Virus. And what is affecting the people right now is a new type of Corona Virus.

There's a place in China called Wuhan. It was found there on 31st December, 2019. This new strain of Corona Virus has been named N-COV - Novel Corona Virus. Novel means new.

This strain is so new that they could not even think of a name. So they named it Novel Corona Virus. The new Corona Virus looks somewhat like this.

The original source of most of the Corona Viruses is mostly some animal, which affects a human and then later through human to human contact, and through human to human transmission, these corona viruses spread amongst humans.

For example, in the case of SARS, the original source was a bat.

MERS is another similar Corona Virus which spread in the Middle East during 2012-13. The original source of that was a camel.

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The exact original source of the new Corona Virus which has not yet been discovered. Some scientists suspect that the original source might be snakesBut some scientists believe that they might be bats again, because there are 96% similarities in the new corona virus as compared to the Corona Virus that came from bats. The symptoms of all these Corona Viruses are very similar to each other.

  • For example
  • cough
  • cold
  • headache
  • fever
  • chills
  • sore throat

All these happen to you even when you catch a cough and cold normally or when you catch a seasonal flu. And these are the symptoms of the New Corona Virus too. This is an unfortunate thing because due to this, it is very difficult to recognize, when you have contracted a normal seasonal flu and when you have contracted the New Corona Virus.

When there are extreme cases of Corona Virus, then one may contract pneumonia too. But generally, the doctors have to perform a laboratory test to recognize whether it is a normal flu or the New Corona Virus.

The incubation period of the Novel Corona Virus is between 2-11 daysthat is, if you are infected, it might take 11 days for the symptoms to show up. This basically means that in the last two weeks, if you haven't been to China or haven't been in touch with a Chinese person and despite that you're showing these symptoms, then you have no cause to worry. This means that you have not contracted the Novel Corona Virus.

How dangerous is this virus, actually?

How fatal is it for you?

In order to know this, I'd like to show you some facts. The total number of infected people until now are 24,579Out of these, around 494 people have died. And 955 people have recovered after becoming infected.

So looking at the total number infected people and the total number of deaths as a proportion, then this comes out to be approximately 2%This 2% is the mortality rate.

Mortality rate means that incase you contract the infection or the Novel Corona Virusthen what are the chances that you are going to die because of it?

2% means that there is a 98% chance that you are not going to die because of it, but you will eventually recover.

In fact, upon studying the cases until now, it has been found out that most of the people that died due to the Novel corona Virus, already had weak immune systems due to some other reasons. Most of these people were elderly and old, or their immune system was already weak beforehand for example, a heart disease or any other problem.

An interesting thing about viruses is that the virus that spreads more easily and is more contagious, in general, its mortality rate is automatically less. And the Viruses that have a higher mortality rate are less contagious.

For example, ebolaThe mortality rate of Ebola was 70%. That is if you contract Ebola, then there are 70% chances that you are going to die because of that. But only 3,000 cases were reported. So Ebola was not that contagious.

On the other hand, take the example of common cold or chicken pox. Both of them are highly contagious. Both chicken pox and common cold spread very easily. But in case you contract it, then the mortality rate of common cold is 0.01%. So all of this can be represented on a graph. The mortality rate is plotted on the Y axis and the contagiousness, that is, how easily it can spread is plotted on the x axis.

Mortality rate is measured in percentage and there is a number to measure contagiousness. This number means that one infected person will infect how many other people on an average.

For example, look at the contagiousness number of common cold- it is 6This means that if a person contracts common cold, then on average, he will infect 6 more people. This is very high contagiousness. The contagiousness of chicken pox is even more around 8.5.

As for other examples, consider Swine flu. Its contagiousness and mortality rate both are very low. It has a contagiousness of a mere 1.5 and it has a mortality rate of a mere 0.2%.

Consider Rabies. Rabies does not spread very easily but in case you contract it, and you do not get it treated in time, then there are almost 100% chances that you might die because of this infection. The SARS of 2003 had a mortality rate of 10%.

So it is being estimated that the mortality rate of the Novel Corona Virus will amount to around 2%, but enough data is not available in order to measure how contagious it is. So we cannot exactly say where it will be placed on the graph. A range has been designated that the Novel Corona Virus will fall within it.

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So by this, we can conclude that in comparison to the SARS, Ebola and MERS, the Novel Corona Virus is less deadly because it mortality rate is lesser than all of these, but it might be more contagious than them. Because when SARS had become widespreadthen it had infected around 8000 people globally within 8 months and this Novel Corona Virus has already infected 24-25,000 peoplethree times more people have been infected. And unfortunately, a lower mortality rate does not mean that fewer people are going to die in total.

For example, take the example of Spanish Flu

which happened in 1918-20, if you have read it in the history books. The mortality rate of this Spanish flu was merely 10%. But it became so contagious worldwide, or maybe the era that time was such that it spread so easily that 500 million people got infected because of this Spanish flu.

And since its mortality rate was 10%, upto 50 million people died because of this flu, despite its mortality rate being so low.

The infection of the Novel Corona Virus spreads the same way that cough and cold spreads amongst people. If someone coughs or sneezesthen the bodily fluids of the infected person reach the other people and they too, get infected.

So the ways of prevention are the same as that of a common cold. World Health Organization recommends washing hands at the right time and washing hands very frequently in the proper manner.

The Truth behind Inflation | Fully Explained

The Truth behind Inflation | Fully Explained

If I gave you a hundred rupee note in the year 1958 and you kept it hidden under your bed for 60 years

And if you took out that note today and used it in the market, then the value of that note would have reduced to a mere 1 rupee 20 paise in comparison to 1958

Let me explain it to you from another angle, if you did not understand

If you buy something worth 100 rupees todayit would have cost 1 Rupee 20 paise back in 1958. That is 100 rupees of today is equal to 1 rupee 20 paise of 1958. This is because of inflation.

Inflation means dearness of things that makes things costlier for all of us every year

  • Why does inflation occur and what are the reasons behind this?
  • Is it really a bad thing?

  • And how is inflation related to unemployment and other economic factors?

We will talk about all of this in this Article.

where I will explain this "ghastly" inflation to you Come, let us see.

First of all, a very important question

  • Why does inflation happen and who is causing it to happen?

Are some government officials increasing the prices of things arbitrarily? It is not so.

There are several reasons for inflation but I'd like to discuss 4 main reasons for inflation in this Article.

The first reason is very simple. 

  • An economic boom. That is, a good economic growth.

When the economic growth is good, then there's more money in the hands of the people who can spend it on different items.

When there's more money in the hands of the people, they can spend it on different items.

That is, the demand for everything would go up in the economy.

When demand goes up, the businesses and companies that manufacture these products seek to increase the prices, in a bid to earn more profit since so many people are willing to buy.

So they increase the price of the goods which will then lead to inflation.

  • Explaining this with an example.

Imagine an Airplane with 100 seats and 100 passengers have to board that plane.

But there are only 10 first class seats and 90 economy class seats. Now if the passengers are given more money.

If they're all given enough money to be able to afford a first class seat, they'll all want to book a first class seat. But the number of seats are only 10. Not all of them can have a first class seat.

So what would happen as a response?

In response, the airline would hike the prices of its first class seats. So that only those who have more money can afford to book a first class seat. So basically there is an inflation.

This type of inflation is called a "demand pull inflation"

A demand pull inflation is when the inflation rises with the rise in demand.

The second reason is the increase in the prices of the raw materials due to different reasons.

For example, if the prices of wheat and rice rise due to a bad monsoon season, The prices of oil rise, or a new tax imposed by the government lead to a rise in the price of one of the raw materials.

Then the companies that manufacture products using these raw materials, they'd have to hike the prices of the products to make profits since manufacturing them would become costlier. which would ultimately lead to inflation.

This inflation is called "cost push inflation"

The third reason is increase in the salariesNo, I'm not joking: When the companies or governments raise the salaries of their employees, then they have to increase the price of their products as well to be able to still make profits.

This inflation is called "wage push inflation"

There could be other reasons for this as well. If unemployment levels are at very low levels in a country, then it is extremely difficult for the companies to replace their employees and if they aren't replaced, their salaries would have to be raised and this again, triggers inflation.

And finally, the fourth reason is "currency depreciation"

This can happen due to several different reasons, out of which one of the most important reasons is printing of more notes by the government which leads to the currency losing its value. And this is a very dicey reason. This could also potentially trigger hyper inflation which is happening in Venezuela today and happened in Zimbabwe in 2008.

If the inflation rate touches even 10% in our country, then it would cause the people to comment that things are becoming extremely dear very fast.

But in Venezuela, between 2016- 2019, the inflation rate was more than 5 crore percent!

Taking the example of Zimbabwe,

Around 2008, the currency of Zimbabwe was losing its value at such a rapid pace that the government began printing 1 million dollar and 1 billion dollar notesAnd there existed even a 1 trillion dollar note in Zimbabwean dollars. And do you know what the value of that 1 trillion Zimbabwean dollar note was? Just 1 US dollar!.

This is the extent to which money can lose its value in a case of hyper inflation. But this is a very long topic on its own.

Talking about the present, the inflation rate in most of the countries today is going down.

  • Think about why this is happening?

It is because of the shrinking demand in the wake of the lockdowns that have been imposed around the world. People are buying fewer things and travelling less.

The people do not have money to spend because their businesses have shut down. And so, there has been a decline in overall demand.

And the opposite of the "demand pull"(which I told you about as the first reason) is happening.

Since the demand is going down, so is the inflationAs a response to this, some countries have decided to transfer cash to the people- distribute it for free.

Now, some people state that doing this would cause the inflation to increase.

  • What do you think will happen?

I discussed the same logic in this Article on Universal Basic Income, that the biggest criticism of the Universal Basic Income and the free distribution of money is that, it will cause the inflation to spike.

  • What do you think?

Write down your explanations in the comments below.

And I will give the answer to this question later in the Article.

I'd like to pose another interesting question before you

  • Is inflation necessary?

  • What if there was 0% inflation?

Observing superficially, you could think that this would be great as things would stop becoming costlier, and that it is good for you as you will be able to afford it for cheap. You would be able to save up more and overtime, the value of money would not depreciate either.

So this would be another great thing!

Analyzing deeply upon the reasons that lead to inflation, then you would understand that 0% inflation is actually not a good thing. This would mean that companies would not raise your salaries. Your salary would remain constant. And since salaries never go down, therefore, in general, inflation always stays in the positive

And there is a third reason as well

If there is deflation, that is, the prices of things keep decreasing every year, then the people would not want to spend money. They would want to save up.

First of all, the value of money is increasing,

If deflation continues to happen, then five years on, the item that one wishes to buy would come for cheaper. So they would want to buy it five years later instead of buying it now.

This would cut down the overall public expenditure.

Lesser expenditure would mean that the businesses would start incurring losses. The businesses incurring losses would translate to people losing their jobs, which would then cause the unemployment to rise. I've told you about a very long and convoluted connection- You might wonder if it actually happens so. Yes it does.

  • There is a very interesting relation between unemployment and inflation

This graph is called the "Phillips Curve". This shows us the inverse relation between unemployment and inflation.

"If there's economic growth, there will be an increase in inflation and unemployment would go down and unemployment will rise if inflation goes down."

And this is a very interesting explanation because one would not expect this to happen, but it does in reality.

But as obvious, there are some extreme limits where this graph is not valid.

For example, in the case of hyperinflation

It isn't that Venezuela today has 100% employment and 0% unemployment.

Some other factors come into play there. For instance, political factors which cause inflation to spike. But generally, this graph is valid.

  • A question arises- Excessive inflation is bad because it would cause hyperinflation and increase dearness
  • Nominal inflation is also bad because it would cause unemployment to rise
  • So, what is the optimum level of inflation that a country should maintain?
  • What could it be?

This figure is 2% for the developed countries. The central banks and the governments of the developed nations have decided that they should maintain an inflation rate of about 2%. 

  • If it is more, then they would try and reduce it
  • And if it is less, they would try and increase it

For India, this rate is 4% with a margin of ±2%

So the ideal inflation rate in India should be around 2-6%This keeps the prices stable and keeps the levels of unemployment at their lowest. It ensures maximum employment.

So, if a government wants to control inflation, how can it do that?

There can be several ways to do this.

Generally, the central bank of a country is responsible for controlling the inflation rate and normally, the central bank- RBI, in the case of India- controls the inflation rates by increasing/decreasing its interest rates. If RBI increases it interest rates (which are called repo rateswhich is charged on loans given to other banks. Then fewer banks would want to take loans. And these banks in turn, would increase their interest rates as well. which would reduce the number of people wanting to take loans.

This would result in lesser money being circulated in the economy. And if this happens so, then inflation would go down. And if RBI slashes its interest rates, then indirectly, through other banks, more people would want to take loans and this would push the inflation up.

So inflation rate can mainly be controlled by increasing or decreasing the interest rates.

But there are other ways as well- Inflation can also be controlled by printing of more notes. Printing of more notes would obviously cause inflation to rise.

The government can control inflation by imposing more taxes. as I had explained in the reasons earlier in this video. The government can also control inflation by spending more or by spending less.

How to start a Business ? Become Successful Business Man | Being an Entrepreneur in India

How to start a Business ? Become Successful Business Man | Being an Entrepreneur in India

Whenever I hear about entrepreneur ! Freedom, courage and passion are the terms that come to my mind. To start your own business, you can get inspired by a lot of things.

Maybe you are passionate about something and it's your dream since your childhood.

Maybe you don't want to work under someone and wish to be your own boss.

Maybe you got inspired by our Bill Gates, Musk, Jeff's  words and wish to open your fritters' shop.

Reason could be anything, I will tell you everything from the start to end that you need to know to start your own business in this Article.

and to become an entrepreneur in India. Let's see.

So friends, the first step to start your business or start up is that you must know what exactly do you wish to do. What's your idea?

Many people thinks that I need to think of an idea which no one has ever thought of. But according to me, it's a wrong thinking.

There are two reasons for this, First is that there's a very less chances of thinking of such idea which no one has ever thought about.

because there are more than a billion people in the country hence there's a very less chance of it.

and the second and more important reason why you shouldn't do this is that to start a business where there is no customer base established, no source of revenue and no one has done trial and error no experiment that to do this business, such kind of revenue comes or problems arises, then it's a very new thing and a very risky work.

so I would recommend you to not think of an idea which no one has ever thought of. infact you have to think that what do you yourself like to do.

Here I would recommend you to focus on two things

first, what's your passion, your interest what do you like to do.

How can you give value to people from your work and how can you benefit people and give value that they will give you money in return.

When these two things are clear, you can see which business already exists which coincides with these two things. Then study what kind of such businesses are already in the market and how do they run.

For example imagine if you love adventure sports like river rafting that's the first thing.

Then the second thing is how can you give benefits to people

then here you can start an adventure sports company

If this satisfies you then look what all kind of adventure sports company already exists in India.

how do they function, study them, call and ask them about their business and study their business model.

next step after this is to create a business plan.

Suppose if you are staring your business from tomorrow, then prepare the budget report of full 1 year from tomorrow to the year end.

that how much money will you need to start the business, how much capital and investment will be required?

And in the whole year how much will be the expenses and what will be the profit that you will gain.

And where will you get the required capital and money that you will need?

will you borrow from your friends, ask your family or take a loan from the bank.

start a business where you don't need to take a loan from the bank or any third person.

start a business where your family is able to afford the initial investment.

Because if you get into banks and your business fails then you will have to face a big loss and lots of problems.

so think of a business where you are able to invest yourself and you have the capital.

or your family or friends are ready to give you that amount.

I'm suggesting this for the initial stage, once you business is established then you can think of taking loan to move it to the next step. This will the risk can be minimized.

You can borrow the money from anywhere friends but the business plan that you have made for the year should be as detailed as possible.

so that the investors will get convinced that this business will surely work and if we invest in this then we won't incur any loss. and will gain only profit from the business.

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Now that you have made your one year business plan then we can move on to the next step.

Next step is to register your business with the Government.

According to the type of your business there are different ways to register it, these different ways are called as business entities

I will not be able to tell you all, but I'll tell you the main ways.

The First, the oldest and the easiest way to register your business is, "sole proprietorship"

proprietorship is a way to register your business where the business' owner is you, whatever will be the profit or loss of the business will be your own profit or loss.

so in a way you are personally liable for everything that's happening with the business.

small business owners like a shopkeeper use this way and register their shop as sole proprietor

If you want to become a pakode wala then you will register your business as the proprietorship

There are many benefits of proprietorship, here the government regulations are the minimum.

To register your business as the proprietorship you have to go to the local authority.

If live in a city then you have to go to the municipality and if you stay in a village then to the Gram Panchayat.

This is available even online in few cities whereas not in some.

This will cost around 1000 rs and 1-2 days to register

But also keep in mind that you maybe asked for bribe as you are visiting the local authority and you know the scenario of our country. so be prepared for this.

You can apply for proprietorship only if your company is a small scale and not more than 4 people are employed, because it becomes very risky if it's on a large scale.

Imagine your company is of crores and you have incurred a loss in crores then it will be your own loss of crores.

You would not want this hence in this case you should not do proprietorship

and if you want to keep your profit and loss different from the profit and loss of the company

and want to keep separate legal entities, in such case there are different ways to register, so there's another way called OPC, One person company

here you are not personally liable if there's something happening to the company.

so here they can't come to your house and ask you to leave your house, car to repay against the failure of your company

The registration cost of this is around 6000rs and more or less in different companies

It will take 8-10 days to get registered and since this is a one person company you will have to be the director and share holder of this company.

Once you have done the registration of your company as OPC then if your company's name is Chikara Pakodewala then it will be Chikara Pakodewala pvt ltd and OPC in the brackets

Next way to register your company is pvt ltd company

here a minimum of 2 share holders and 2 directors are required. Maximum limit of share holders here is 200 and if you want more than that then you have to make a public limited company.

so as the name is private limited it is limited in the same way as one person company is limited.

There's limited liability here, so the share holders have limited liability, so if there's a loss in the company then the share holders won't have to pay for the loss personally. It's a very reputable and credible way to register your business.

How Bitcoin works and why Bitcoin is so popular?

How Bitcoin works and why Bitcoin is so popular?

Can you imagine a thing- the value of which was zero around ten years back and today, it's value has touched almost 15 lakhs!

I'm talking about Bitcoin, that has recently touched its all time high price point, due to which it is being talked about in the market and the media again

So, I thought this would be the right time to make an educational Article on it

and explain to you what Bitcoin actually is what s its history?

Merely 12 years ago, on 31st October, 2008, a person named Satoshi Nakamoto published a paper on the Internet

Satoshi's main motive was clearly evident from the first line of the paper

A version of electronic cash that would allow payments sent directly from one party to another party without going through a financial institution.

Cryptocurrency is a digital asset over which central banks or financial institutions have no control or regulation

For instance, the US dollar is controlled by the central bank of US. The Indian Rupee is controlled by the RBI

But there is no central bank or any main financial institution that controls the bitcoins/cryptocurrencies

Back then, cryptocurrency was merely an idea in the mind of that person. But now, there is trading worth lakhs and crores on its crypto exchange just like shares are traded on the normal stock markets.

In order to understand the paper of Satoshi and the context of crypto currency, we will have to understand some concepts of our economic history, Our financial systems are based on trust.

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The currency notes and coins have value in our society because they are guaranteed by the government and the central bank.

Take a look at any note in your wallet. For example, a 200 hundred rupee note. It reads- "I promise to pay the bearer a sum of 200 hundred rupees."

This is a promise made by the Governor of the Central Bank, that is, the Reserve Bank. There is his signature right below, This note holds no value without this promise/guarantee.

This note will be reduced to an ordinary paper if it does not carry this signature

There is a small, but interesting story in this context

After the second World War, America became the most powerful country in the world and the rest of the countries had to align their currency with the US dollar

And what was the US dollar aligned with/guaranteed by? A reserve of gold.

The actual value is that of gold or silver. But it is not practical to carry gold or silver around in your pocket

The currency notes were printed for convenience. But US did away with this gold standard rule back in 1971

After that, the central banks of the rest of the countries could print their notes as per their wishes

But what do cryptocurrencies and Bitcoin have to do with this?

It helps you to guess how powerful the government and the banks- especially, the central banks of the country are as far as monetary policy is concerned

The fact of the matter is that when you deposit your money in the banks, you give the banks permission to play with that money, in one sense

Making use of these deposits, the banks give loans to companies and individuals

This is what fetches returns, that is, interest on the money that you have deposited

Very recently, we have seen that these banks use these savings and deposits in a very irresponsible manner

It happens quite often that banks give loans to big industrialists without performing adequate checks and then these loans become bad debts/NPAs

And who becomes the victim in such cases? Depositors like us.

In the last 15 months, three deposit taking institutions have failed- Yes Bank, PMC bank and Laxmi Vilas bank

But even the decisions of the government can put the common man in danger

Do you remember November, 2016? Demonetization! The government laid to waste the 500 and 1000 notes in one single strike, 86% of Indian currency became unusable

Those in favor of the Bitcoins and cryptocurrencies are so because they do not want the government or the central banks to exercise so much control over their money or currency.

Do you now understand the original idea/vision of Satoshi?

Satoshi imagined Bitcoin as an alternate financial system, which would be based on software technology and would be outside the control of third parties. You might be able to recall the Global Economic Meltdown of 2008, Mega investment bankers like Lehman brothers had become bankruptCryptocurrencies were born right after this scenario.

Bitcoin was the first to arrive. And then many other crypto currencies surfaced- Ethereum, Litecoin and Ripple

In fact, in the beginning of the year, more than 2000 cryptocurrencies were available on the internet

Let us move on to the main point now: How does crypto- technology work?

If truth be told, in order to understand this, one needs to have knowledge of advanced mathematics and computer science- which I don't have

But if you want to start investment or trading, then basic knowledge would suffice.

Let us take the example of Bitcoins

There is one public account in digital form, of all the bitcoin transactions- this is called a 'ledger'

A copy of this ledger exists on all the systems that are a part of the Bitcoin network

Those that run this system are called 'Miners'

The job of the miners is to verify transactions

Say, A has to transfer 2 Bitcoins to B's account

Miners will have to confirm whether A actually does have 2 Bitcoins in his account or not

To complete the transaction, miners will have to solve a complicated mathematical equation.

You might have studied about variables back in school. Every Bitcoin transaction has a unique variable. The job of the miners is to calculate it, It's not that they sit with a pen or paper to solve the equations.

All these calculations are carried out on the computers automatically because they are extremely complicated and their combinations run in crores

which is why these miners require computers with very complex and high processing power

Once the equation is solved, the other computers within the network confirm it and this transaction is added to the chain.

A block of transactions gets created. And hence, the technology is called 'block chain'

And what do miners get in exchange for this? They get the most valuable thing- Bitcoins!

This system is called 'Proof of work'

The miners have to prove the computation work they do in order to get awarded the Bitcoins in return

If all this explanation went straight above your head like a bouncer, then do not worry!

Because understanding the philosophy, vision and future of crpto technology is far more important than understanding the working of crpto technology

now comes the question of how to use crypto currency and Bitcoins

It is extremely important to understand that as well. Because on one hand, some people use Bitcoins as an investment

while on the other hand, some people use cryptocurrency as an alternate currency

A lot of people want to replace it with currency and use Bitcoins in place of rupees and dollars

But the main use of crypto currency at present is like an investment

We invest money in cryptocurrency hoping for a higher return in the future and hence get more money in return

This, then becomes a "store of value", just like Gold.

Just like we don't use gold in our daily transactions but instead buy it and store it in the bank lockers like a guarantee

to get more returns in the future because the price of gold keeps rising gradually

People do the same with Bitcoins and this is why Bitcoins are also called "Digital Gold"

But just like any other investment, this too, entails risks. And those who criticize this as a form of investment say that

Bitcoin is a digital currency. It has no inherent value of its own

For example, you can physically touch the gold in your hands. If you buy a house as an investment, it will be physically available to you

Bitcoins, on the other hand, are not physical. Everything is happening on the computer.