Bit Coin Mini Case Solutions - Book by Arthur I. Stonehill, David K. Eiteman, and Michael H Moffett
Bit Coin Mini Case Solutions - Book by Arthur I. Stonehill, David K. Eiteman, and Michael H Moffett
Bit Coin Mini Case Solutions - Book by Arthur I. Stonehill, David K. Eiteman, and Michael H Moffett
transaction that has ever occurred in the Bitcoin network is recorded in the
system.
2.
Cost effective: For online transactions, bitcoin is 60% cheaper than
Paypal and hence easier to use for small businesses and a wide variety of
vendors in the emerging markets.i
3.
True Global Accessibility: The BTC also provides true global access
as there are no complicated exchange rates and further charges for
facilitating currency conversion like in the case of traditional currency.ii
4.
Data Privacy and Security: Bitcoin transactions have total privacy as
only their public keys, time and amount is recorded. Hence no personal
information is ever stored, collected or transmitted unlike traditional online
purchases.
5.
No interference from Institutions: Bitcoin can provide institution free
access to financial services in several parts of the developing world where
institutions and political regimes are corrupt, and are a major bottleneck to
any form of economic upliftment.
The costs of using Bitcoins are:
6.
Bitcoin is just digital code and does not have any guarantor that
9.
We also believe that the above mentioned point along with no buyer
Unit of Account:
high fees to setup and transfer money between accounts and the tedious
verification process makes the arbitrage opportunity unprofitable to exploit. v
Medium of Exchange:
Bitcoin also has no facility for credit yet as no bitcoindenominated credit cards are available.
Based on the above criteria, we believe that Bitcoin is not yet a suitable means
of exchange.
3.
Store of Value:
volatility and trades across different exchanges with different values violating
the law of one price.
i "The Case for Coin: Bitcoin Pros and Cons." Ecwid ECommerce Widgets RSS. N.p., n.d. Web. 26 Jan.
2016.
ii "The Case for Coin: Bitcoin Pros and Cons." Ecwid ECommerce Widgets RSS. N.p., n.d. Web.
26 Jan. 2016.
iii "Scalability." - Bitcoin Wiki. N.p., n.d. Web. 26 Jan. 2016.