Where do bitcoins get their value

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Drug dealers were willing to take a gamble on the nascent currency because the upside of their transactions was so great that they could risk losing money if a deal failed to produce what the bitcoin buyers really wanted: dollars.

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Why Bitcoin Has Value. In this way the value of Bitcoin is directly tied to the number of its users and the frequency of their use.The real value of Bitcoin is its alternative to government. with everyone refusing to buy in anticipation of their money gaining in value over the short.

For the most part, they are exchanged for dollars or other currencies at exchanges like Mt.How do you determine the fair market value of a currency that has.Their value can change in seconds, and it fluctuates dramatically from day to day. However,.Bitcoin Is An Asset, Not A Currency. in the value of Bitcoin do not make it a more. but to either speculate on their asset value or use them to.

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Other open-source groups have managed success using a similar open process.

Buy bitcoins using the ACTUAL bitcoin. (returning visitors may need to refresh their browsers to get the bitcoin amount to. when bitcoin value AUD.

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So no matter how high the bitcoin value goes,. is that most hold their bitcoins for a short amount of time to make transactions that are difficult or.The answers were supplied by Bitcoin.org, the Bitcoin Foundation, Hamadeh and the website of Mt.This will allow users who adhere to monetary regulations to keep trading and using bitcoins, but will subject the currency to existing rules on money laundering and bank-reporting requirements, meaning more transparency.Placing a ceiling on the value of gold is mining technology, and.

Where to Convert Bitcoins (BTC) and Dollars (DOL) 0. Even the European traders prefer the USD in their Bitcoin. some expected for the value of the bitcoin to.

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Underpinning the value of gold is that if all else fails you can.

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But in essence, these currencies are not much more than the extra ball a pinball player gets for high scores, although they can be transferred to other players for money.

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We strongly recommend you do not keep any bitcoins in their service.

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Their crypto-currency is meant to be a global currency operated without government fiat or oversight.

Although unlike Bitcoin, their total energy consumption is not transparent and cannot be as easily measured.Nothing but a randomly assigned set of unique numbers, not encrypted or particularly complicated.Get started with Bitcoin: find a wallet, buy bitcoin, shop with bitcoin, read bitcoin news, and get involved on the forum.You can hold on to the coins and wait for their value to go up or you can use the coins now to buy goods and services.Paul Krugman set off a new firestorm this. Other commodities get their value from industrial purposes. yen and bitcoins.Their crypto-currency is meant to be a global currency operated without government.

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In theory, the bitcoins may be broken into many smaller parts so the money supply can be expanded to meet growing demand.In most ways, using bitcoins works the same way as using paper money, but with some key differences.

The Bitcoin Core Developers are mostly unpaid volunteers who maintain and manage the Bitcoin source code.Some Argentinians have bought bitcoins to protect their savings against high inflation or.Bitcoin is more likely to follow the path of Linux, which began as free software and is now widely used by thousands of companies for some or all of their software needs.PrivCo estimates that 80 percent of bitcoins are turned into U.S. dollars. And 20 percent are held in inventory by processors and recirculated as bitcoins.Bitcoin could evolve the same way, playing a role in making e-commerce payments cheaper and more efficient. And legal.