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BITCOIN mania. ONE GIANT FLAW for BTC and getting rich from it. Maybe you won't care, but...
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[quote:Anonymous Coward 75955758:MV8zNzEyMjk0XzY2MzkyNzM2XzI4NkNEN0Iz] [quote:Bit-Pro 75935403:MV8zNzEyMjk0XzY2MzkyNjI2XzMwQjU4Q0M1] Just as a test i sold £100 of BTC using Coinbase and lost 3% in charges in an instant and the price was none to good, bit delayed. They put the money in a GBP wallet that they hold, hold without my trust so i went all the way and tried to send the £££ back to my bank account. I would fill half a page here explaining the long drawn out expensive process of getting your money but it involves SEPA and that involves euro conversion of currency at both ends. Still waiting to see what gets left out of the £100 but enjoy the ride as you get fucked over getting access to your money. [/quote] :hesright: [/quote]
Original Message
How are you going to cash out? There is going to be a HUUUUUUUUUUUUUGE bottleneck. I suspect that is why Coinbase crashed today. These places are exchanges, not banks. As the price climbs higher and higher, there needs to be actual cash coming into the exchanges, otherwise you cannot pull out your tens of thousands, let alone hundreds of thousands.
Any way around this? I think it will get worse each passing day.
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