Why Bitcoin matters - Micropayments
This was new to me:>A third fascinating use case for Bitcoin is micropayments, or ultrasmall payments. Micropayments have never been feasible … because it is not cost effective to run small payments … All of a sudden, with Bitcoin, that’s trivially easy. Bitcoins have the nifty property of infinite divisibility: currently down to eight decimal places after the dot, but more in the future. So you can specify an arbitrarily small amount of money, like a thousandth of a penny, and send it to anyone in the world for free or near-free.
Source: New York Times.
Written on January 27, 2014