What is 'Bitcoin'. Bitcoin is a digital currency created in 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government issued currencies. There are no physical Bitcoins, only balances associated with public and private keys.
The Minister of Finance predict that the budget deficit would be cut to 3.9% in 2015/2016 and 2.5% in 2016/2017. Despite steady economic growth, the average South Africanâs disposable income is declining as consumersâ battle higher high debt levels and increases to administered prices.
The report showed that the actual average salary increase is 4.3 percent for 2014, 0.6 percent less than last yearâs actual average of 4.9 percent. The projected average salary increase for 2015 takes a slight dive at 4.2 percent (see Figure 1).he projected average variable bonus payout for 2015 is 2.4 months. Note to editors: This press release should be credited to âglobal management consultancy Hay Groupâ, and not âHayâ or âHaysâ, which are separate and unrelated organisations.