The Uprising of the Bitcoin – Bitcoints


Published on September 6th, 2015 | by bitcoin


The Uprising of the Bitcoin

The Uprising of the BitcoinImagine that person A wants to supply person B with goods who will pay money to person A for such delivery.
[1] Person B exchanges fiat money for bitcoins on his local exchange market with person C1.
[4] Person A sends off the goods to person B
In other words, the use of bitcoin replaces one fiat money transfer by two bitcoin/fiat exchange operations.
While a bitcoin to fiat exchange market will keep track of the identities of their customers, crypto-to-crypto markets tend to be entirely anonymous.
Of course, bitcoin is useful for other purposes than anonymous fiat money transfers, but these other reasons would never have caused Bitcoin to take off the way it did.


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