Bitcoin Association President Bruce Fenton has been turning heads this week by reaching out to consumers to demonstrate Bitcoin’s practical uses.
“The paperwork to open 80 accounts globally then setup wire instructions would take many hours, spread over weeks and even once done the money transfer would take days more and have a fee 1000% higher than this,” Fenton adds, with the total transaction fee for his 80 payments coming in at just under US$1.
“There is no bank or other existing system which could possibly hope to match this.”
“We… found that as confusion about Bitcoin dissipated, enthusiasm grew,” the Trust stated in support of the findings.
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