MGM102H5 Lecture Notes - Bitcoin, Digital Wallet, Debit Card
Document Summary
Is expensive: gets rid of exchange rates, can become a universal virtual coin. Canadian businesses may not accept bitcoins as it is not officially considered tender. Can transfer person to person via internet, account cannot be frozen and can change them universally. Now ebay, is a virtual auction and bid: new type of auction: quibid. You set up an account, and you use your own money and you buy bids. In quibid every item starts at one penny. Interesting business model due to its approach, it"s innovative. Innovators are those who adopt technology and want to learn what they could produce from what works and what doesn"t work. Innovators can become early adopters, they give new technology a change have a comparative advantage by taking risks and want to give other haven"t given yet. And if they avoid it further on, they may lose business.
