BITCOIN: How It Works, And Why It Could One Day Threaten Legacy Payments Tools

[CryptoCurrencyInc.com]

BITCOIN: How It Works, And Why It Could One Day Threaten Legacy Payments Tools Like Credit Cards

Bitcoin is most often discussed as a volatile digital currency, beloved by some, derided by others. But where Bitcoin's real value lies is as a payments technology that has the potential to revolutionize the legacy payments industry.

Bitcoin offers merchant 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 to pay extortionate transaction fees.

Read more:
http://www.businessinsider.com/why-bitcoin-has-the-potential-to-blow-the-legacy-payments-system-out-of-the-water-2014-1#ixzz2s2qhU9Ir

[Sonny]

Isn't the graph on the right a bit wrong?

I don't think Jerry's public key is involved in the transaction at all.
Indeed, if Jerry never send out bitcoin from that address, no one in the world (apart from Jerry of course) knows the public key.

[Meuh6879]

More simple like that ...