Bitcoin value graph 2015 rubles
Officials of the Ministry of Revenues and Duties of Ukraine said that there were major irregularities in the operations of the company acting as the Ukrainian guarantor, and that the rules of the operation of the payment system were not agreed with the National Bank of Ukraine.
In March , the Ukrainian guarantor's bank accounts were released after a court ruling. In WebMoney launched crowdfunding platform WebMoney Funding for implementation of projects under the principle of voluntary donations, participation in group purchasing and event planning.
One of the specific characteristics of WebMoney Funding service is that all the projects can be financed not only via the credit cards and e-wallets, but via bitcoins as well [24]. From Wikipedia, the free encyclopedia. Archived from the original on Crime, Conflict and Security in Cyberspace. We are not just an e-wallet, we create the environment for doing business online".
The Digital Currency Challenge: Check date values in: New Technology in an Unregulated Market. Russian Legal Information Agency. As illustrated in the above scenarios, then our current measurement system for Bitcoins value is broken as it relies on fiat currencies to determine its relative purchasing power.
My reasoning for this, is that gold prices auto correct for fiat volatility almost instantly, as gold has a universal value. Gold prices constantly vary, however, I argue that this is due to the above phenomenon of inflation, causing the purchasing power of the dollar to decrease. This artificially drives up the price of gold while the purchasing power of gold has remained more or less constant. This is of course difficult to prove as not a lot of merchants accept gold as a payment and there are no official reports of the purchasing power of gold.
There is also the fact that only a few gold merchants at present accept Bitcoin, and thus to find the true gold purchasing power of Bitcoin, we usually have to convert the bitcoin back into your fiat currency of choice. However, if we did use gold purchasing power as the standard for measuring the strength of Bitcoin. Then we would also have a universal indicator, which needs no conversion between borders, and shows the true strength of Bitcoin.
This is a great read - thanks! I was just reading about this article below and think it's fascinating. What do you think the ultimate purchasing power of BTC will be as fiat currencies collapse?
Will be interesting to see how this plays out. Here's the article I was reading about this: