Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JorgeStolfi
on 20/07/2014, 06:08:38 UTC
If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?
Jorge I believe one bank gets another bank to change some numbers on a computer and then another entity verifies that both party's agree then they charge a fee for doing this. All party's involved have to comply with government regulations to ensure no one is cheating. Once you understand how the system works with $, you're going to love how simply it works with Bitcoin.
Congratulations, you are already stepping onto the answer to my question, you just have to look at it.  Right between "agree then" and "All party's".  Wink