26 May '15, 7pm

Bitcoin is Killer App for $1 Trillion Remittance Market via @BreitbartNews

Bitcoin’s open-source digital currency was designed to disrupt and cut out the manipulative architecture of central banks, such as the U.S. Federal Reserve. Originally, Bitcoin transactions went through a third party. But the virtual currency has evolved to eliminate all of the fees charged by third party financial institutions and banks. That explains why Bitcoin, with virtually free foreign transactions, is about to become a killer app in the $1 trillion remittance market. Through a peer-to-peer (P2P) network of computers, Bitcoin currency is created as rewards to “miners ” for providing the computing power to solve difficult math problems to maintain the “blockchain ” of Internet transactions that validate the currency. To prevent fraud and theft, Bitcoin uses cryptographic technology. But unlike online credit cards and “PayPal” type systems that allow buyers to claim t...

Full article: http://www.breitbart.com/big-government/2015/05/26/bitcoi...

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