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Cryptocurrency site nber.org

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bitcoinscene.shop NATIONAL BUREAU OF ECONOMIC RESEARCH. Massachusetts Avenue. Cambridge, MA November We are grateful to Luigi. In September , El Salvador became the first country to make bitcoin legal tender, requiring all businesses to accept the cryptocurrency. Algorithmic digital currencies such as bitcoin appear to be viable competitors to central bank fiat currency, and their presence in the marketplace may pressure.

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Instead, bitcoin's volatility has gyrated; by late , it had spiked to a level not seen since four years earlier. Raskin and D. As a store of value, bitcoin faces great challenges due to rampant hacking attacks, thefts, and other security-related problems. Urban governments also may have facilitated separation between racial groups by investing in public transit infrastructure.