CRYPTOCURRENCIES HAVE come a long way since the introduction of Bitcoin in 2009. Initially viewed as a niche product for tech-savvy individuals, cryptocurrencies have become mainstream and have gained significant attention from both consumers and investors alike. Despite their growing popularity, cryptocurrencies continue to face challenges that threaten their long-term viability.
The genesis of cryptocurrencies can be traced back to the early 2000s when a person or group of people known as Satoshi Nakamoto created Bitcoin. The ideology behind Bitcoin was to create a decentralised currency that would operate independently of any government or financial institution. Nakamoto’s vision was to create a currency that was secure, private, and could not be manipulated by central authorities. In 2010, a programmer named Laszlo Hanyecz famously spent 10,000 Bitcoins to buy two Papa John’s pizzas, making it the first known real-world transaction using Bitcoin - probably the most expensive pizza in the world! The identity of the mysterious creator of Bitcoin, Satoshi Nakamoto, remains unknown to this day.
Fluctuating fortunes
In recent years, the fortunes of cryptocurrencies have seen wild swings, with Bitcoin, the most well-known digital currency, experiencing both staggering highs and devastating lows. Currently, Bitcoin is on an upswing, reaching new record highs after a lengthy bear market. There are several reasons for this current price increase, but one major factor is the upcoming cryptocurrency halving, in the next few months.
This story is from the 20 May 2023 edition of Business World India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the 20 May 2023 edition of Business World India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
'Committed to helping India achieve carbon neutrality'
R. Purushothaman on how Danfoss India, part of Danish MNC, is supporting the nation's carbon neutrality goals with innovative products
INTELLECTUAL DEPTH & ACTIONABLE INSIGHTS
Anil K. Khandelwal is a transformational leader, who invites readers to rethink leadership as a journey rather than a destination. In The Gym of Leadership, he emphasises that helmsmanship is not a badge of authority but a commitment to creating a positive impact, says Srinath Sridharan
AN INDUSTR BENCHMAR
The MacBook Pro M4 doesn't just set the bar for laptops-it becomes the bar. With unmatched performance, breath-taking design and incredible endurance, Apple's latest offering redefines what a laptop can achieve, says Sahil Mohan Gupta
The drip of good health
IV therapy seems to be a popular procedure with people in pursuit of good health and glowing skin. We spoke to medical experts about aspects to keep in mind before walking into a wellness centre to get that drip.
"MACARONS FOR THE MASSES"
CHANDNI NATH ISRANI, the driving force behind Ladurée's India expansion, redefines luxury in the F&B sector. With four flourishing Ladurée outlets established since 2021, Israni is making iconic French pastries and delicacies accessible to the Indian market. BW Businessworld sits down with the visionary entrepreneur to discuss her journey in building the luxury brand and her strategy for democratising gourmet experiences
NAVIGATING THE PATH TO PROFITABILITY: A STARTUP'S BALANCING ACT
WHEN EVALUATING startup profitability, it’s crucial to break it down into two main components: unit economics and fixed costs. Unit economics refers to the profitability of delivering each singular order, which involves analysing transaction margins against costs incurred, such as delivery and payment gateway fees. This assessment helps gauge whether a business model is sustainable at a micro level.
THE HOLY GRAIL OF PROFITABILITY
Profitability for startups is elusive, often overshadowed by growth and investor expectations. Achieving profitability requires a delicate balance between revenue generation and cost management, with factors like market dynamics and competition playing significant roles
"WE ARE FOCUSED ON BUILDING A RESILIENT AND SELF-SUSTAINING SEMICONDUCTOR ECOSYSTEM"
S.KRISHNAN, Secretary of the Ministry of Electronics and Information Technology, outlines India's ambitious plan to build a resilient and globally competitive semiconductor industry through the India Semiconductor Mission
Shaping the Future of Cyber Risk Management
With its mission to advance cyber risk quantification through the FAIR (Factor Analysis of Information Risk) model, the institute empowers businesses to align cybersecurity with broader objectives using structured, data-driven insights. Managing Director TODD TUCKER discusses how the institute’s methodologies and community-driven approach are reshaping industry standards worldwide, including growing interest in India and Asia Pacific
THE PILLAR OF A RESILIENT DIGITAL FUTURE
The rapid evolution of digital technologies has transformed the world, driving unprecedented connectivity and innovation. Yet, as the digital realm expands, so do vulnerabilities, with cyber threats emerging as critical challenges for businesses, governments and individuals
