An electronic payment system, a digital currency, cryptocurrency - international financial institutions have not been able to arrive at the common view yet what exactly bitcoin is. For instance, Germany’s Finance Minister categorizes it as an alternative to fiat currency which can be used as a means of payment for products and services. While economists around the world have been discovering peculiar features of the new currency, bitcoin has broken a record. Last week, a really great amount was transferred via this payment system; it has been the biggest ever transaction since the cryptocurrency was invented. So, a multi-million transaction was executed in the network by an anonymous user who sent the amount which is equal to $163 million via Bitcoin. In late November, the instant monitoring system recorded that massive money was sent from one address to another in the network. Internet resource Blockchain.info shows that the system executed the transaction in the amount of 194,900 BTC, which is equivalent to nearly $163 million. Regulated by the user’s agreement, the Bitcoin system does not charge any commission for a banking transaction. Nowadays, any of available conventional banking institutions would get a hefty profit for processing such a transaction as they typically impose a 2 to 3% fee. In addition, as it has been known from an informed source, Alix Resources Corporation, Canada’s ore mining company, is going to pay for the mineral exploration by bitcoin cryptocurrency. Canada’s authorities were among the first who turned their attention to the increasingly popular new currency and considered as an option to make payments in bitcoins. After the exploration work is completed, a contractor is supposed to issue an invoice in the Canadian dollar which Alix Resources is going to settle by bitcoins at the current exchange rate.
