21 Aug '13, 3pm

@thehill

In fact, a new study released by the Mercatus Center, “Bitcoin: A Primer for Policymakers,” details some of the innovative applications in the Bitcoin economy that the public debate may not fully appreciate. Before regulators rush to mitigate anticipated harm, they should first understand how this technology works and how it can improve lives. First, Bitcoin is a promising way to lower transaction costs. Credit card companies charge merchant fees that are often prohibitively expensive for small businesses. Small-business owners face the hard trade-off of either refusing to accept credit card payments and losing business or accepting card payments and losing money by eating the costs. Transaction fees with Bitcoin are negligible and can save money for cost-conscious businesses. Consumers, too, could benefit from these lower transaction costs in the form of lower prices. Thi...

Full article: http://thehill.com/blogs/congress-blog/technology/317875-...

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