One bilion dollars worth of bitcoin have been moved
Imagine yourself paying 600$ fee for bitcoin transaction. I've tried but I don't have that much in my wallet... but guy who have moved 94,504 worth $1,018,147,900 have paid this fee. You can read discussion here.
But.. that's just another transaction.. why do I write an article about this?
Owner of that money have completed simple steps to send 1 Billion USD
- Type Bitcoin address
- Type Amount
- Click Send
And that's all that bitcoin network require.
Now imagine sending 1 Billion USD in traditional, bank way.
- You need to pay tax.. so something between 10-40% of amount would go...
- You need to pay incredibly high processing fees
- I bet that government would like to know how did you managed to get that amount of money, so forget about privacy.
- Also transaction of that amount wouldn't confirm within 30 minutes.
This transaction was important because it shows that bitcoin is easy, simple, secure and non-problematic, you can easily transfer any amount of money to anybody you want. Also, i think that it is a friendly warning sent to banks too, because people starts to use ways of sending money that are cheaper, faster and more secure than banks, and what goes with that, banks earn less.