Bitcoin is well suited to micropayments. Mike Hearn has a micropayment scheme in his Bitcoinj implementation: https://bitcointalk.org/index.php?topic=244656.0
It's a rather elegant example of true innovation in this heavily researched topic (note that the NSF and DARPA funded research on digital currency in part to try and solve the massively high volume, low value transactions they anticipated the internet would require...for things like paying a very small amount for a very small but of content).
Digital currency (pegged to the US dollar) used to be purchasable in the mid 1990's at a US bank. It flopped mostly because it came before anyone really did much payment via the Internet. The best private industry has come up with is the equivalent of handing over your private encryption keys (cc #) and putting a middle man in to skin off the top and attempt to control the fraud that results from this crazy design.
If you want to truly learn something about the open source project called Bitcoin, take a look at btcedproject.org and the udemy course (you'll need an account...or you can login via Facebook like I just did here to post): https://www.udemy.com/bitcoin-or-how-i-learned-to-stop-worrying-and-love-crypto/
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Bitcoin is well suited to micropayments. Mike Hearn has a micropayment scheme in his Bitcoinj implementation: https://bitcointalk.org/index.php?topic=244656.0 It's a rather elegant example of true innovation in this heavily researched topic (note that the NSF and DARPA funded research on digital currency in part to try and solve the massively high volume, low value transactions they anticipated the internet would require...for things like paying a very small amount for a very small but of content). Digital currency (pegged to the US dollar) used to be purchasable in the mid 1990's at a US bank. It flopped mostly because it came before anyone really did much payment via the Internet. The best private industry has come up with is the equivalent of handing over your private encryption keys (cc #) and putting a middle man in to skin off the top and attempt to control the fraud that results from this crazy design. If you want to truly learn something about the open source project called Bitcoin, take a look at btcedproject.org and the udemy course (you'll need an account...or you can login via Facebook like I just did here to post): https://www.udemy.com/bitcoin-or-how-i-learned-to-stop-worrying-and-love-crypto/