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Is bitcoin a currency?

Given that bitcoin has not been authorised as currency, in theory it is a barter.

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Many of the benefits offered by digital currencies like Bitcoin can get offset if the world is successful in digitising existing currencies.

AL Gore, the 45th vice-president of the US, said: "I think the fact that within the bitcoin universe an algorithm replaces the functions of the government is actually pretty cool. I am a big fan of bitcoin."

Similar effusive sentiments were expressed by several well-known (and well-...

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