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 war' is over, saying it is still on-going. In an April interview with the "Wall Street Journal", Mantega spoke out against the loose monetary policies of advanced nations which have been aggravating inflation in emerging economies. Unlike other emerging economies, China has so far chose to continue holding its currency down against the dollar, fighting inflation instead with interest rate rises. The rate rises cause even greater pressure from the markets for a currency appreciation, and to prevent this, at least in the months leading up to early 2011, China had to buy dollar assets at a faster rate than