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The new Bitcoin digital cryptocurrency has been getting in popularity in Australia with both early adopters of the payment technology along with those merchants that want to accept Bitcoin as payment for services and goods. The growing acceptance and popularity of spending for goods and services in Bitcoin have resulted in the development of some correlated industries and companies such as Bitcoin exchange merchants that permit individuals to switch their currency such as dollars, euros, or yen for Bitcoin. One of the advantages of denominating a portion of your cash in bitcoins Australia is that the currency itself differs mainly from other major world currencies due to the fact that it is not vulnerable to reserve bank inflationary pressure and quantitative relieving due to the fact that there are a fixed variety of bitcoins that can ever be produced. This, nevertheless, would not reduce the ability to use bitcoins for transactions as the units of currency can be divided down by 8 digits, or the hundred millionth decimal location.