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
Digital gold currency used to back the digital gold currency it issued. Before the year was out, the 1mdc website was no longer accessible. E-Bullion was a digital-gold currency exchange that had risen, then become defunct around 2008. In August 2008, James Fayed, the owner and chief executive official of the E-Bullion Company, was taken into United States Federal custody to face felony charges of conducting unlicensed money transactions and the murder of his business partner. Shortly thereafter, the website ceased to be available. As a consequence of these charges, by January 2010 the U.S. Government had seized all of the assets of