Although the peer-to-peer currency Bitcoin is unlikely to replace traditional banking, it might have a role to play in e-commerce. The costs associated with Bitcoin transactions are significantly less than with other payment networks. Bitcoin has no central issuing authority and isn’t tracked by any authority. However, the currency’s value exceeds that of some small countries, including the Seychelles, Liberia and Gambia. That fact alone arguably makes Bitcoin a market player, whether anyone likes it or not.
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Buying Into the Bitcoin Craze
Posted by: Patrick Nelson May 3, 2013 05:00 AMAlthough the peer-to-peer currency Bitcoin is unlikely to replace traditional banking, it might have a role to play in e-commerce. The costs associated with Bitcoin transactions are significantly less than with other payment networks. Bitcoin has no central issuing authority and isn’t tracked by any authority. However, the currency’s value exceeds that of some small countries, including the Seychelles, Liberia and Gambia. That fact alone arguably makes Bitcoin a market player, whether anyone likes it or not.