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BITCOIN TO DOLLAR ($) The number of businesses accepting bitcoin continues to increase. In January 2017, NHK reported the number of online stores accepting bitcoin in Japan had increased 4.6 times over the past year. BitPay CEO Stephen Pair declared the company's transaction rate grew 3× from January 2016 to February 2017, and explained usage of bitcoin is growing in B2B supply chain payments. Bitcoin gains more legitimacy among lawmakers and legacy financial companies. For example, Japan passed a law to accept bitcoin as a legal payment method, and Russia has announced that it will legalize the use of cryptocurrencies such as bitcoin. And Norway’s largest online bank, Skandiabanken, integrate bitcoin accounts. In the first half of 2017, 1 bitcoin surpassed the spot price of an ounce of gold for the first time, and subsequently broke its all-time high, reaching US$1,402.03 on 1 May 2017, and over US$1,800 on 11 May 2017. On 20 May 2017, the price of one bitcoin passed ...

Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency , since the system works without a central repository or single administrator. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer , and transactions take place between users directly, without an intermediary. [13] :4 These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain . Besides being created as a reward for mining , bitcoin can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. On 1 Aug...

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