I am a business student and researching the Bitcoin technology. I was wondering if a business professional of 5+ years of Bitcoin experience would help answer the questions listed below? Please include your name and contact information. Thanks
I'm not a 5+ years expert nor does have experience for that long. I still consider myself as rookie on this crypto currency but these type of questions can be answered easily. Here's a brief answer for these questions.
Who can really accept Bitcoin?
Anyone that has interest on accepting it, yeah everyone.
How are businesses using Bitcoin?
The same thing as fiat, they are using it as method of payment (currency).
Is there a transaction fee?
Yes, miners fee.
How are transactions made?
When someone sends and receives bitcoin through their bitcoin addresses.
Who controls the Bitcoin network?
If I'm not mistaken, nobody controls the bitcoin network.
What are the advantages of Bitcoin?
There's a lot of it but I'll give one which is it gives privacy and anonymity to it's users.
What are the disadvantages of Bitcoin?
There's a lot also, if you are an official of a government agency, it's decentralized.
Is Bitcoin legal?
Yes, depending on what country you are living. Most of the countries doesn't really care about it's legality.
Is Bitcoin secure?
Yes it is but refer to this.
Yes bitcoin network is secure but unfortunately not all bitcoin wallets particularly online wallets are not secure.
If I've got some answers that is quite wrong in your thought, please correct me with it.