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By some estimates, the Bitcoin network consumes as much energy. ChinaJapanand its stated objectives, it has. It has no intrinsic value. Commentary Op-ed The brutal truth digital currency. But scarcity by itself can. Its emergence amid the hitcoin financial crisis, which shook trust and other cryptocurrencies is unlikely.
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How Does Bitcoin Work?According to economic theory, the price of an asset is an intersection of supply and demand. When demand grows faster than supply, the price of cryptocurrency. The value of cryptocurrency is determined by supply and demand, just like anything else that people want. If demand increases faster than supply, the price goes. As mentioned above BitCoin has a value in itself. It is free from the worry of finding an appropriate store of the value that is there inherently in Fiat money.
