“From food to toilet paper, and drugs to weapons – everything is available on the Internet and, increasingly, purchases are paid with virtual currencies such as bitcoin. The German Finance Ministry has recently recognized bitcoin as a currency unit and as private money, subjecting holdings of bitcoins to German tax laws. The move has somewhat polished up bitcoins still dubious image, putting Internet trading in the currency on a legal footing and allowing the exchange of the virtual currency into real dollars or euros. Online currency conversion sites determine the value of Bitcoins according to supply and demand.”

http://www.dw.de/germany-lends-real-value-to-bitcoin-virtual-money/a-17038675

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