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Transaction Quotes
Transaction Quotes
Content is power in today's world, and if you can own that content, create it and make interaction more of an experience than a transaction, you create a different kind of loyalty.
Mindy Grossman
Today
Loyalty
You
Experience
World
Power
Own
Kind
More
Make
Content
Than
Transaction
Different
Interaction
Different Kind
Create
A typical medical practice is like an old-fashioned business which keeps all of its records on paper. It can probably track down any individual transaction if it needs to, but it's basically helpless when it comes to overall measurements of performance. And that's the big problem.
Mitch Kapor
Needs
Business
Problem
Practice
Big
Down
Typical
Paper
Records
Individual
Performance
Like
Overall
Track
Big Problem
Any
Transaction
Which
Measurements
Old-Fashioned
Helpless
Medical
Keeps
Basically
What is so terrible about transaction costs? On what basis are they considered the ultimate evil, so that their minimization must override all other considerations of choice, freedom, and justice?
Murray Rothbard
Freedom
Justice
Evil
Other
Considerations
Considered
Must
About
Costs
Terrible
Ultimate
Override
Transaction
Choice
Basis
Ronald Coase, in his classic 1937 paper on 'The Nature of the Firm,' was the first to bring the concept of transaction costs to bear on the study of firm and market organization.
Oliver E. Williamson
Nature
Organization
First
Market
Paper
Classic
Costs
Bear
Firm
Study
Concept
His
Transaction
Bring
The credit/debit card transaction system is antiquated, expensive, and inefficient. There are over nine steps to complete a transaction from the time a customer swipes their card to payment processing, settlement, and when the merchant finally gets paid. Every step along the way costs both the consumer and the vendor in additional fees.
Perianne Boring
Time
Every
Every Step
Settlement
Nine
Additional
Complete
Finally
Way
System
Costs
Both
Consumer
Merchant
Step
Steps
Over
Fees
Along
Inefficient
Antiquated
Gets
Transaction
Expensive
Processing
Customer
Paid
Payment
Card
The majority of companies using BitPay to accept bitcoin are small businesses that are benefitting from lower transaction fees, faster service, and increased security for fraudulent transactions.
Perianne Boring
Service
Bitcoin
Faster
Increased
Security
Fraudulent
Small
Small Businesses
Fees
Majority
Accept
Transaction
Transactions
Lower
Businesses
Companies
Using
Digital assets, including bitcoin, could save small businesses substantial transaction fees and provide an added layer of security to their payment processing.
Perianne Boring
Bitcoin
Digital
Added
Security
Small
Small Businesses
Layer
Could
Fees
Provide
Transaction
Substantial
Processing
Payment
Businesses
Including
Assets
Save
With Bitcoin, every transaction is publicly verified, so many risks are eliminated, including chargeback fraud or 'friendly fraud.' This is when a customer purchases something online with a credit card; waits to receive the goods or service, then requests a chargeback refund. The bank then forcibly takes the funds out of the merchant's account.
Perianne Boring
Service
Risks
Bitcoin
Every
Out
Fraud
Purchases
Something
Online
Merchant
Takes
Goods
Verified
Waits
Friendly
Account
Bank
Transaction
Customer
Then
Requests
Many
Including
Publicly
Credit
Card
Credit Card
Receive
Eliminated
Funds
Bitcoin was created with security in mind. The Blockchain is Bitcoin's public ledger that records every transaction in the Bitcoin economy.
Perianne Boring
Bitcoin
Mind
Blockchain
Every
Security
Records
Economy
Transaction
Public
Created
The seminal elements of what makes a story great - challenge, struggle, resolution - are the same whether we're talking about story content for a movie such as 'Rain Man,' or telling a purposeful story to forge new business relationships or conclude a fruitful transaction, such as acquiring an NBA franchise.
Peter Guber
Great
Man
Business
Struggle
Rain
Challenge
Relationships
Franchise
Telling
About
Purposeful
New
New Business
Talking
Content
Makes
Conclude
Forge
Same
Transaction
Movie
Fruitful
Story
Whether
Acquiring
NBA
Elements
Resolution
I tend to regard the Coase theorem as a stepping stone on the way to an analysis of an economy with positive transaction costs.
Ronald Coase
Positive
Analysis
Way
Costs
Tend
Stepping
Stepping Stone
Economy
Stone
Transaction
Regard
Theorem
Even if a financial institution rejects an initial application by an individual using a synthetic identity, credit bureaus create a record from the transaction based on the fraudulent credentials. Consequently, the record can be used repeatedly by a fraudster to establish a fake identity used to commit financial and other types of fraud.
Seth Moulton
Financial
Other
Types
Synthetic
Fraud
Fraudulent
Record
Individual
Institution
Identity
Fake
Repeatedly
Commit
Transaction
Establish
Create
Used
Initial
Using
Even
Based
Credentials
Credit
Application
Rejects
Consequently
Today, whenever I'm under pressure to make a decision on a transaction but I don't know what the right one is, I try desperately to postpone it. I'll insist on more information - on doing extra laps around the intellectual parking lot - before committing. I take the same approach with people, too.
Stephen A. Schwarzman
Today
People
Try
Decision
Pressure
Insist
Before
Extra
Too
Right One
Desperately
Approach
Postpone
More
Parking
Parking Lot
Take
Know
Make
Around
Doing
Intellectual
Lot
Same
Committing
Transaction
Whenever
Information
Laps
Right
If you make any trades during the year, keep a record of each transaction for at least three years.
Suze Orman
You
Three
Year
Record
Make
Least
Trades
Years
Any
Transaction
Each
Keep
I think people don't realise that running a piece of code that verifies some conditions for a financial transaction, that by itself is a lot less work than verifying a cryptographic signature, and so even if the virtual machine is inefficient, the cryptographic signature is still going to dominate.
Vitalik Buterin
Work
People
Financial
Think
Virtual
Machine
Signature
Running
Some
Piece
Inefficient
Still
Verifying
Conditions
Lot
Itself
Dominate
Than
Going
Transaction
Realise
Less
Even
Code
Scalability is this idea of coming up with a blockchain that can scale much larger than existing chains essentially by processing transactions in parallel. And moving away from this paradigm where every single node on the network has to process every single transaction.
Vitalik Buterin
Single
Blockchain
Every
Scale
Paradigm
Parallel
Network
Idea
Coming
Existing
Up
Than
Essentially
Transaction
Transactions
Where
Process
Processing
Moving
Moving Away
Much
Chains
Away
Larger
I made some money, some real money on my first real estate transaction.
Malik Yoba
Money
Real Estate
Made
First
Some
Real
Real Money
Transaction
Estate
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