“Today, essentially every digital transaction and every international transaction involves a use of one form or another of virtual currency or credit.  Transaction and exchange fees, taxes, and payment delays exist to provide short-term credit, guard against counterfeit, excessive withdrawals and other kinds of fraud, and to extract income. Bitcoin is designed to provide the same security guarantees and convenience of credit, while foregoing its extra processing times and fees.  You settle with Bitcoin immediately, just like cash. Unlike a credit card exchange, where your credit card number and security information are handed over completely, a transfer is authorized only to pay a specific amount.”

http://news.nationalgeographic.com/news/2013/10/131014-bitcoins-silk-road-virtual-currencies-internet-money/

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