What is Bitcoin?
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It's the online currency shrouded in a literal bitcoin 2009 cost web of complex algorithms and accusations of illegal activity — and now bitcoin is making a select group of geeks very, very rich.
The reason why is simple: Much like any other form of currency, politics have a big role to play. Whether he liked it or not, Donald Trump's move into the Oval office had a tremendous impact on every market. For instance, the night he won the election on November 9th, the Aussie dollar plunged two cents.
Terrified about the security of their wealth, investors rapidly pooled as much capital as they could into traditionally "safe" avenues: Then, in April this year, Japan passed legislation that allowed regular retailers — like clothes and electronics — to accept Bitcoin as legal tender. This effectively legitimised the online currency in law, prompting many buyers to snap up as bitcoin 2009 cost "Bitcoins" as bitcoin 2009 cost could, desperate to get ahead of the bitcoin 2009 cost wave of growth.
The more demand there was for Bitcoin, the more expensive it became. Since the start of the year Bitcoin's "monster" rally has seen its worth grow by almost percent. It's impossible to say — since Bitcoin is not backed or regulated by any central bank or government, the base of knowledge needed to trade confidently is overwhelming to say the least.
Have you ever invested in, or thought of investing in Bitcoin? Get in touch at smarsh nine. By Stuart Marsh May 24th, More From Business News. Ardent may develop land next to Dreamworld. Sipa defines wide copper zone at Paterson.
Most Read Sydney, Melbourne house prices to fall bitcoin 2009 cost to 4 percent this year. What we know so far. House prices inch lower as auction volumes slide.
