Quote:
Originally Posted by ry0t
Not sketchy at all. btcchina just opened up run by the ceo of walmart. his brother invented litecoins. also the senate had a meeting and declared bitcoins good for the economy and and up and coming payment solution. all of this raised the price of bitcoin. plus christmas is coming. the bitcoin is slated to go up to 1500 per coin by the end of december. we'll see about that.
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Don't get me wrong, I'd be very happy to see a world wide currency not tied to any country.. However when I say sketchy, I mean it's far to volatile to people hacking the exchanges and at this point there is very few options to convert to other forms of currency and in no possible way can people move large sums of bit coins into cash. This is why I called it same as vaporware when it comes to these gains on the larger scale. These guys holding millions in btc simply can not convert it to cash..
Over time they can maybe fix these issues but for now it's still pretty sketchy for any real investment.