Hayward Inds Inc (HWRI) Stocks Price Quote - luthermusic.com

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This section was produced by the editorial department. The client was not given the opportunity to put restrictions on the content or review it prior to publication. January 2, 9: Bitcoin is the future, they tell us; it heralds a future where private, stateless currencies will dethrone the dollar and other monetary dinosaurs. In fact, if you strip away its technological trappings — the encryption, the peer-to-peer networks — and Bitcoin closely resembles these earlier private efforts.

The alternative currencies of the past are long gone, thanks to a decades-long campaign by governments aimed at monopolizing the money supply. Outside of libertarian circles, it has become conventional wisdom that it is both natural and desirable for governments to monopolize the production and quantity of currency.

Rulers and regents throughout history certainly believed as much, claiming that they alone could issue — and just as often, debase — coins used by their citizens. The almost daily fluctuations make it very difficult for hayward bitcoin stock to have any certainty about their true costs. If customers pay in Bitcoin and the value suddenly drops, the company ends up the loser.

But such claims of monetary sovereignty collided with the realities of monetary exchange. For centuries, rulers found it impossible to keep competing currencies out of circulation.

This was particularly true of the sorts of coins that hayward bitcoin stock as small change for the lower classes of society. According to monetary historian Eric Hayward bitcoin stock, merchants in England issued low- denomination coins made of copper, lead and tin from the 13th century onward. Similar conditions prevailed elsewhere. In Mexico, for example, Helleiner estimates that 2, shopkeepers in Mexico City issued their own coins in Private currencies got a further boost during the industrial revolution, when British factory owners became desperate for hayward bitcoin stock change to pay wages.

Much of this currency consisted of coins made of copper, or occasionally silver, but by the nineteenth century private paper currencies became common as well.

In Tokugawa Japan, for example, local lords issued their own paper notes, with 1, different kinds of currency in circulation by the s. Likewise, in the U. In most nations, foreign coins often circulated alongside official coins, sometimes supplanting them. The most famous of these interlopers, the Spanish peso or silver piece of eight, was the de facto currency in America.

If you visited the U. Such coins remained legal tender in the country until the s; in other countries, such as China, they served as a de facto currency into the 20th century. How did governments, which had shown little inclination, never mind ability, to exercise their monetary sovereignty, come to monopolize the issuance of money?

Over the 19th century, nationalist hayward bitcoin stock in a number of countries came to view the private and foreign currencies circulating inside their hayward bitcoin stock as impediments to the creation of unified nations and national markets. In particular, reformers pushed for standardization and control over small change in order to reduce transaction costs. While thousands of different kinds of currencies may work well enough for small, local markets, national markets demanded national monies — or so the thinking went.

In Britain, the government seized hayward bitcoin stock over the currency from issuers of private tokens as early as hayward bitcoin stock, ramping up production of standardized hayward bitcoin stock coins while banning private tokens. Reform came later in the U. The people would have acquired a new and direct interest in the support of the Government, because their currency would depend for safety on the maintenance of that Government. Advocates of a more powerful central government came to view hayward bitcoin stock common, state-issued currency as a valuable tool for accomplishing a host of nationalist projects, from collecting hayward bitcoin stock to influencing economic conditions by controlling the money supply.

The creation of central banks was but a further extension of this logic, giving nation-states even further control over the currency. All of this was accomplished at great cost and with considerable controversy. To eradicate older currencies and to drive competing currencies from circulation was a monumental undertaking, and in most countries it took years.

The process was largely complete by the early 20th century. HBC said in October it was exploring the sale of the Vancouver property. And we're attuned to hayward bitcoin stock they do.

A crisis in Venezuela, a major oil exporter, is driving prices. Find Financial Post on Facebook.

Bitcoin takes flight again after china eases crackdown and cryptocurrency split to set new highs

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November 19, 1: But that may be about to change. The gains extended an advance that has seen the price of Bitcoins quadruple in the past two months and climb fold so far this year. Now, government agencies from the U. Introduced in by a programmer or group of programmers going under the name of Satoshi Nakamoto, Bitcoin is being used to pay for everything from Gummi bears to smartphones on the Internet.

There are 12 million Bitcoins in circulation, according to Bitcoincharts, a website that tracks activity across various exchanges. Bitcoins can potentially reduce banking-transaction fees, making it an attractive tender for those seeking to trade via the Web or in stores.

We are up to the challenge. Speculative trades exceeded transactions for goods and services by 20 to 25 times in the latest quarter, said Vladimir Maslyakov, co-founder of brokerage Exante Ltd. The supply of Bitcoins, governed by rules embedded in the software of the virtual currency, is outstripping supply, fueling the price surge.

That also makes it difficult for people to use the digital money to buy goods and services, since the value of items priced in Bitcoins is difficult to pin down. There are about 30 transactions per minute, at an average amount of 16 Bitcoins, Francois Velde, a senior economist at the Federal Reserve Bank of Chicago, estimated in a report published earlier this month.

While demand continues to climb, with trading volumes up more than fold in the past 12 months, supply is increasing at a predictable rate, thanks to the way the virtual money is designed. Those seeking to create new Bitcoins must use powerful computers to solve complex software problems embedded in the currency, which exists as software. Ulbricht denies the charges and will seek bail at a hearing set for Nov.

When Silk Road was shut down, the virtual currency lost a third of its value within days as holders sold, predicting a crackdown. Instead, the willingness of authorities to stamp out illegitimate use has come to be seen as an endorsement for Bitcoins, making users and investors more comfortable taking risks with digital money. Jeremy Allaire, the co-founder and former chief executive officer of Brightcove Inc. Bitcoin also gained further legitimacy and attention when a subsidiary of Baidu Inc.

Chinese Bitcoin activity has exploded, with the number of yuan-based trades jumping fold in the past two months and making BTC China the top online- exchange by volume.

BTC China surpassed Mt. Gox and Bitstamp earlier this month as the top market for exchanging Bitcoins with other currencies. We have the most liquidity. S investors, including wealthy families, are allocating more of their investments into Bitcoins in order to diversify portfolios, according to Barry Silbert, CEO of SecondMarket Inc. Underscoring how speculative Bitcoin trading is dominating the market for the virtual currency, online-retailer BitcoinShop.

Since products on the Web store are priced in Bitcoins, shoppers are hesitant to shop for jewelry, computers and other goods on the website. That may not happen for at least another year, he said. Filed under News FP Street. Bitcoin rallies to record high as digital currency gains validity among U. HBC said in October it was exploring the sale of the Vancouver property.

And we're attuned to what they do. A crisis in Venezuela, a major oil exporter, is driving prices. Find Financial Post on Facebook.