Sentences with phrase «currency as a means of exchange»

The Bitcoin price has little to do with the demand for the currency as a means of exchange, and instead the demand is coming from those who are speculating on the price of this cryptocurrency.

Not exact matches

Back in 2014, he wrote a Financial Times op - ed in which he criticized the virtual currency for being «unsuitable as a means of exchange» and said it was only attractive for two reasons: anonymity — as desired by money launderers and tax evaders — and speculation.

This doesn't mean, of course, that everyone will heed the rule, especially as an IRS investigation revealed that only 802 customers of Coinbase, a popular digital currency exchange, filed a 8949 form related to Bitcoin - related activity in 2015.

Bitcoin got an unexpected endorsement this week - federal authorities signaled they view the digital currency as a legal means of exchange and legitimate payment alternative.

««Virtual currencies» means a digital representation of value that is neither issued by a central bank or a public authority, not attached to a legally established currency, which does not possess the legal status of currency or money, but is accepted by natural or legal persons as a means of exchange or for other purposes, and can be transferred, stored or traded electronically.

The relative value of a country's currency is directly tied in to forecast interest rates in one country versus another, which means that we could continue to experience volatility in the foreign - exchange market (where currencies trade in relation to one another) over the summer as well.

As suggested by Forbes, the first thing which could send Bitcoin skyrocketing is increased adoption as a conventional currency — meaning as both a store of value and medium of exchangAs suggested by Forbes, the first thing which could send Bitcoin skyrocketing is increased adoption as a conventional currency — meaning as both a store of value and medium of exchangas a conventional currency — meaning as both a store of value and medium of exchangas both a store of value and medium of exchange.

Cryptocurrencies are decentralized digital currencies designed to work as a means of exchange.

A crypto currency is an alternative currency that is designed to serve as a means of exchange between people and businesses that are willing to accept them.

As used herein, «Digital Currency» means a digital asset (also called a «cryptocurrency,» «virtual currency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store of valuAs used herein, «Digital Currency» means a digital asset (also called a «cryptocurrency,» «virtual currency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store oCurrency» means a digital asset (also called a «cryptocurrency,» «virtual currency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store ocurrency»), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store of valuas, but not limited, bitcoin or ether, which is based on a cryptographic protocol (s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open - source, and (iii) used as a medium of exchange and / or store of valuas a medium of exchange and / or store of value.

The announcement comes within weeks after Minister of State for Finance Arjun Ram Meghwal stated the use of virtual currencies is not authorized as a means of exchange by the RBI, and after Deputy Governor Shri R. Ghandi suggested that confidence will only be placed in a virtual currency issued by an authority.

Still, virtual currencies are used by some criminals as it is a means of exchange.

However, inherent risks such as contingent liability (where your liability may be greater than the initial purchase price of the investment), margining requirements (where you are required to make a series of payments against the purchase price, depending on whether the underlying investment or index is moving in your favour) and international exchanges (which can mean a reduced level of investor protection, as well as currency fluctuation if the investment is not traded in sterling) meant these were out of reach.

Gold as a means of currency exchange is all but worthless.

history lesson - its commonly believed to of derived from the saying «Quid Pro Quo» meaning something exchanged for something similar such as in the past when money was just a ticket to cash in for gold (the real currency).

Advantages to both parties created by the Ven as the means of exchange for the transaction include greater international pricing stability and an implied carbon offset resulting from the basket of carbon futures, commodities and leading currency components which determine ongoing Ven values.

Overall, the virtual currency has been unstable because people see virtual coins as a means to quick reaches, instead of a means to exchange good and services.

The long - awaited bill, which goes into effect on April 1, still does not recognize bitcoin as a currency, but it has accepted that bitcoin and other cryptocurrencies have «asset - like values» that can be used «as payment to indefinite parties for the cost of purchase or rent of items or receipt of services and which can be transferred by means of electronic data processing systems,» explained Bitflyer exchange.

Still, virtual currencies are used by some criminals as it is a means of exchange.

CENT, according to the paper, is meant to act as a common medium of exchange between apps that originally use entirely incompatible currencies.

A currency fulfills three well - defined purposes: to serve as a means of exchange, store of value, and unit of account.

In fact, it may even be necessary if Bitcoin and other currencies are to survive as viable and trustworthy means of exchange or commodities.

It is also important to note that to use any of these exchanges outlined below you must use bitcoin as your base currency, which means to be able to trade you must first buy and transfer bitcoin into your account.

That means companies like Coinbase or Gemini, which serve as marketplaces and exchanges for virtual currencies, and advertisers promoting an ICO or encouraging the purchase of a particular cryptocurrency, are effectively shut out of 70 percent of the world's digital ad market.

You will still be able to use it as a store of wealth, sell it for local currency — or other digital currencies — based on the relevant exchange rate (s), send it to other Bitcoin wallets, and use it as a means of payment all around the world.

«We are actively considering ways to prohibit transactions on domestic exchanges by judging virtual currency trading as a deceptive means of defrauding people -LSB-...] under the penal code,» the publication quotes an official as saying.

Separately, Stripe said Bitcoin users now saw the virtual currency largely as an «asset» to be bought and sold, rather than something a means of exchange.

With bitcoin drifting back toward its all - time high and interest in virtual currency growing — both as a store of value and as a means of speculation — traders have little alternative but to use current centralized exchanges that have always proven a point of weakness in the bitcoin ecosystem.

If it is used as a means of payment, it would be treated like a currency, converted to fiat at its fair market value as disclosed on a cryptocurrency exchange and taxed as ordinary income.

What is beyond dispute is that tethers — tokens with a fixed $ 1 value — are widely used as a means of surrogate fiat currency by millions of crypto traders and several major exchanges.

More comprehensive definitions have been attempted by the EBA in 2014 (European Banking Association) and the Banca d'Italia, which both define Bitcoin as «a digital representation of value that is neither issued by a central bank or public authority nor necessarily attached to a fiat currency, but is used by natural or legal persons as a means of exchange and can be transferred, stored or traded electronically».

Some, such as the original cryptocurrency Bitcoin, are created simply to exist as a means of exchanging value - similar to a fiat currency such as dollars or yen - but to be outside the control of a central bank.