Every country and its economic guardians are running around to understand, decipher and control the currently raging discussion over bitcoins. With the first global conference to be held in India around the corner, it is no wonder that this marvel has everyone holding their breath to see the course of discussion and to hear from experts all over the world. There are still few recorded instances in the world except China and Japan of the businesses, even e-commerce ones, making extensive use of this currency. The current values which is equivalent to more than a thousand USD has shaken everyone awake from their slumber to look into the necessity of using and regulating this, now highly popular currency.
You may wonder what is it that makes this so crucial and urgent to be thought over right this moment. Is it just the increase in use? How is it that this use has increased when the virtual transactions are still not considered one hundred per cent safe and we see cases of online frauds happening every now and then? When even the commercial banks are not safe from the mischiefs, how is that people have shown so much confidence in and made a non-physical currency so popular?