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Opec prices oil in bitcoin
There has been speculation for months about whether bitcoins might be accepted as legal tender by a major developed nation, whether the Chinese will accept them, or whether big web retailers will take then instead of conventional currencies. But the big breakthrough for digital money is more likely to come from the oil cartel, OPEC.
For decades, oil has been priced in dollars but key member states such as Iran, Algeria or Angola are not particularly friendly to the United States, even if they are not quite as hostile as they once were. They have been making noises about switching the price of oil out of the American currency for years, but have never quite managed to agree on alternative.
http://www.marketwatch.com/m/story/6-market-surprises-for-2014-2013-12-24?pageNumber=1&allPages=True
This world is turning from giant oil rigs to giant virtual coin mining rigs!
There has been speculation for months about whether bitcoins might be accepted as legal tender by a major developed nation, whether the Chinese will accept them, or whether big web retailers will take then instead of conventional currencies. But the big breakthrough for digital money is more likely to come from the oil cartel, OPEC.
For decades, oil has been priced in dollars but key member states such as Iran, Algeria or Angola are not particularly friendly to the United States, even if they are not quite as hostile as they once were. They have been making noises about switching the price of oil out of the American currency for years, but have never quite managed to agree on alternative.
http://www.marketwatch.com/m/story/6-market-surprises-for-2014-2013-12-24?pageNumber=1&allPages=True
This world is turning from giant oil rigs to giant virtual coin mining rigs!