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jeevprem
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August 19, 2013, 03:34:49 AM
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Hi I have been reading and watching many videos about Bitcoin and trying to understand how exactly it works. That being said how is the value of bitcoin determined relative to actual currency? Is my Canadian dollar going to keep becoming less valuable as years go on with the rise of digital currency?
 
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August 19, 2013, 04:11:32 AM
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Bitcoins value is set by free market. The more demande for bitcoin, the more its value increase. If demand for bitcoin decrease, its value will also decrease. But globally, because of the limited supply of bitcoin VS the unlimited amount of dollars printed by the banks, your purchasing power is protected when you have bitcoins.

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