1803 CE - The British East India Company decisively defeats the forces of the Maratha Empire at the Battle of Assaye during the Second Anglo-Maratha War.
Photo of the Day
Aerial view of the San Andreas Fault in the Carrizo Plain, northwest of Los Angeles, California.
In the News
US, Arab Partners Launch First Strikes in Syria
Libya's Parliament Approves New Government
Russia's Putin Looking at Cooperation to Fight ISIS
Ebola Could Strike 20,000 in Six Weeks, 'Rumble On for Years'
Einstein's 'Time Dilation' Prediction Verified
Libya's Parliament Approves New Government
Russia's Putin Looking at Cooperation to Fight ISIS
Ebola Could Strike 20,000 in Six Weeks, 'Rumble On for Years'
Einstein's 'Time Dilation' Prediction Verified
Quote of the Day
"No man is a hero to his wife's psychiatrist". --Eric Berne
Song of the Day
Artist - Kool & the Gang
Album - Wild and Peaceful
Film of the Day
Director - Ruben Fleischer
Starring - Sean Penn, Ryan Gosling, Emma Stone
Wiki of the Day
Bitcoin is a software-based online payment system described by Satoshi Nakamoto in 2008[4] and introduced as open-source software in 2009.[5] Payments are recorded in a public ledger using its own unit of account,[6] which is also called bitcoin. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a decentralized virtual currency.[9] Although its status as a currency is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.[10]
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins.[11] Besides mining, bitcoins can be obtained in exchange for fiat money, products, and services.[12] Users can send and receive bitcoins electronically for an optional transaction fee[13] using wallet software on a personal computer, mobile device, or a web application.
Bitcoin as a form of payment for products and services has seen growth,[14] and merchants have an incentive to accept the digital currency because fees are lower than the 2–3% typically imposed by credit card processors.[15] The European Banking Authority has warned that bitcoin lacks consumer protections.[16] Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible.[17] As of July 2013 the commercial use of bitcoin was small compared to its use by speculators, which has contributed to price volatility.[18]
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