Tech Talk: Dollars and cents of Bitcoin currency
This article was first published by dmcityview.com What is a dollar worth? If we’re being literal, the value of a dollar is tied to the gross domestic exports of the country. But if the recent recession taught us anything it’s that if the stock market takes a plunge, the dollar in your pocket could quickly be worth half its value. So came the hot-button alternative currency, Bitcoin. Unregulated, anonymous, global and short on supply, Bitcoin is one of many “cryptocurrencies” that could supposedly save the U.S. from future recessions. Why is gold so valuable? Because it is rare, and there is a finite supply. That concept of supply-and-demand is the basis for all cryptocurrencies, including Bitcoin. Existing purely as a digital currency of exchange, Bitcoin and its peers offer a way for investors and consumers to safeguard their earnings against recessions and other economic disasters. How? Bitcoins’ value is derived solely from demand and supply. If investor interest grows, ...