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Author Topic: 2013-06-19 Sky News: digital Currencies Get Smartphone Boost  (Read 607 times)
ganabb
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June 21, 2013, 08:19:15 AM
Last edit: June 21, 2013, 02:33:36 PM by jgarzik
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http://uk.news.yahoo.com/digital-currencies-smartphone-boost-104244013.html#9Ze742R

According to the 21st International Payments Summit, 63% of delegates believe real-time payment services are the key ingredient for future growth.

Mark Hale, head of payments and transactional banking at KPMG Management Consulting, said: "Digital currencies such as Bitcoin may not yet be the mainstream money of choice, but their rise in prominence and growing acceptance amongst merchants.

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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June 21, 2013, 09:36:28 PM
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Source:

Quote
"Digital currencies such as Bitcoin may not yet be the mainstream money of choice, but their rise in prominence and growing acceptance amongst merchants."

Translation:

"People sick of our ineffective bungling have latched on to Bitcoin because of its decentralized nature and low fee structure. We haven't figured this out yet - but we're swimming in the tar pit as we speak, expecting a resurgence of traditional banking demand."


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