Sentences with phrase «supply by central authorities»
Even fiat currencies such as the US dollar and Indian rupee do not have intrinsic value, given that their valuations are decided by two major factors: the market's demand and the manipulation of supply by central authorities.
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However, rather than rely on a central monetary authority to monitor, verify and approve transactions, and manage the money supply, Bitcoin is underwritten by a peer - to - peer network akin to file - sharing services like BitTorrent.