Here are some of the key elements from the report:
But at BI Intelligence, we believe all the talk of price volatility obscures Bitcoin's real value: as a payments network. Bitcoin offers merchants and individuals an extremely low-cost, virtually frictionless payments system. Value can easily be transferred around the world without transmitting sensitive information that could be used for fraud, and without forcing merchants — or people sending international remittances — to pay exorbitant transaction fees.
People often discuss Bitcoin in terms of its price volatility: Is it up or down? Is it a good investment or a speculative bubble?
In a recent report, BI Intelligence explains how Bitcoin works, from the moment when local currency is exchanged for bitcoins, to the moment when it reaches the electronic wallet of a receiving party. We look at the key advantages of Bitcoin compared to the legacy players in the payments industry and examine the challenges that Bitcoin faces as a payment network.
In full, the report:
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