madfranks
30th May 2014, 10:18 AM
This is why bitcoin is valuable, it is a payment system far more efficient and far less expensive for commerce than the fiat alternative.
http://www.coindesk.com/two-charts-difference-bitcoin-fiat-payments/
A bitcoin transaction from one party to another, anywhere in the world, might look something like this:
http://media.coindesk.com/2014/05/bitcointransaction.jpg (http://media.coindesk.com/2014/05/bitcointransaction.jpg)
However, with fiat money, things aren’t so simple. Sending money globally from one party to another is massively complex.
Any party sending money to another one internationally, for example, has to go through a lot of hoops. That procedure often can look something like this:
http://media.coindesk.com/2014/05/GlenbrookCorrespondentBanking.png (http://media.coindesk.com/2014/05/GlenbrookCorrespondentBanking.png)
http://www.coindesk.com/two-charts-difference-bitcoin-fiat-payments/
A bitcoin transaction from one party to another, anywhere in the world, might look something like this:
http://media.coindesk.com/2014/05/bitcointransaction.jpg (http://media.coindesk.com/2014/05/bitcointransaction.jpg)
However, with fiat money, things aren’t so simple. Sending money globally from one party to another is massively complex.
Any party sending money to another one internationally, for example, has to go through a lot of hoops. That procedure often can look something like this:
http://media.coindesk.com/2014/05/GlenbrookCorrespondentBanking.png (http://media.coindesk.com/2014/05/GlenbrookCorrespondentBanking.png)