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But this balance was approximately to be changed as the US government set the cost of the dollar at its own level: 35 dollars would buy you one ounce of gold. This thing happened in the 1930s. After the end on the Second World War, countries started to consider the US dollar a stronger basis because of currencies. The reason behind doing this was the news that the US dollar value was well known, so a cryptocurrency on the dollar would actually depend on older. For instance, if a certain currency was worth 3x more gold than the usa dollar, the idea actually worth three Us dollars.
In the 70s bitcoin trading the us dollar threw in the towel on its gold measures. The US dollar value grew to become determined by its market strength. Even though the US dollar stopped being the standard for world currencies, it never stopped being essential currency on financial markets, as many exchange rates are still expressed in US cash. The Euro has also turn into a strong currency, even stronger than the states dollar. Both currencies together represent about 50 percent of the exchange fx rates.
Jered Kenna: We relaunched before set you back . increase, we hoped end up being the first there and ride the wave. Microsoft xbox 360 been a great number more interest from institutional investors, the VC community is really picking it up now so a lot of tech investors are acquiring it bitcoin and putting money directly into bitcoin. That's also fueling the price increase. Some investors are looking at it seriously.
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