Why is anyone talking about bitcoins? You can put your money into bitcoins but you can't actually take any reasonable amount of money "out".
It is a simple Ponzi scheme created by anonymous hackers to take people's money.
Look at the largest "exchange". How much do they let you convert into actual money? The main one limits you to $1K per day or $10K per month.
But you know what? They don't have to convert anything for you if they don't want to. There are no laws, nothing. One day, your bitcoins will be completely and totally worthless. There is no government to back it up as a store of value.
There are a bunch of anonymous hackers who manipulate the price to get more people to give them actual money while they give them worthless virtual numbers.
And everyone thinks they are making money as the price goes up and up. But try and take any of that money out. Guess what, it won't be there.
The exchanges will close and poof, you have nothing.
That is incorrect. It does not require an exchange for me to move money in and out of Bitcoins. All I have to do is find another human who is willing to trade Bitcoins for another currency, and vice-versa. For example, I could do this on eBay or a forum.
The large "exchanges" merely make this process more expedient. At the core of this concept is that people are willing to trade one good for another good, and in this case, it's Bitcoins for another currency.
It is a simple Ponzi scheme created by anonymous hackers to take people's money.
Look at the largest "exchange". How much do they let you convert into actual money? The main one limits you to $1K per day or $10K per month.
But you know what? They don't have to convert anything for you if they don't want to. There are no laws, nothing. One day, your bitcoins will be completely and totally worthless. There is no government to back it up as a store of value.
There are a bunch of anonymous hackers who manipulate the price to get more people to give them actual money while they give them worthless virtual numbers.
And everyone thinks they are making money as the price goes up and up. But try and take any of that money out. Guess what, it won't be there.
The exchanges will close and poof, you have nothing.
Some of you are really, really gullible.