Feb 102015
 

Bitcoin Home showMorpheus on Bad Business

Byan Laurel and Melissa Epstein from Bad Business, set out to get the inside information about the most important development in currency known as Bitcoin. While at the Home and Garden show, Bryan connects with Morpheus Titania, who is running a Bitcoin Booth there and gets invited to be interviewed on the show.  Morpheus is a Bitcoin Trader and has built a business buying and selling Bitcoins.

Morpheus explains that Bitcoin is the world first international decentralized currency. He explains how Satoshi Nakamoto created Bitcoin by taking existing computer code and by putting together in a new way.  When he did this the computer code functioned with all the same properties that “traditional bank and government” fiat currency did and it also gave it even more functionality such as being able to be sent across borders, instantly, for low fees and zero human intervention.  Because bitcoin is built on an encryption algorithm known as SHA-256, it is impossible to have a fraudulent transaction or be stolen.

Because Bitcoin transactions are impossible to counterfeit, once sent the customer cannot charge back and transaction are basically non existent, this lowers costs that business must face.  Plus the real added benefit is there are many people who have Bitcoins looking for a place to spent them this gives business that accept Bitcoin a huge advantage over business that do not.

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