Digital currency of its creators. "Forbes" writer Tim Worstall has written that the value of bitcoin is largely derived from speculative trading. Bitcoin has also been criticised for its energy inefficient SHA-256-based proof of work. Digital currency Digital currency (digital money, electronic money or electronic currency) is a type of currency available in digital form (in contrast to physical, such as banknotes and coins). It exhibits properties similar to physical currencies, but can allow for instantaneous transactions and borderless transfer-of-ownership. Examples include virtual currencies and cryptocurrencies and central bank issued money accounted for in a computer database (including digital base money). Like
Currency War of 2009–11 to brand China as a currency manipulator from his first day of office. In October, Alan Beatie and Alice Ross for the "Financial Times" noted that the global trade imbalances which had driven the currency war have been sharply reduced. However, they suggest that without further reforms, the imbalances may soon widen again. They also note that Mantega once more raised the alarm about competitive devaluation, following the United States's launch of QE3 in September. In mid January 2013, Japan's central bank signaled the intention to launch an open ended bond buying programme which would likely devalue the yen. This