Panicky Bitcoin investors struggle to withdraw cash from money exchanges as they look to ‘safe’ gold investments amid fears of cryptocurrency collapse
Bitcoin assured customers they would be able to withdraw at a "recent exchange rate" but "continuous cyber-attacks" have prevented them from doing so, Fortune reports.
Concerned investors have since taken to social media to complain they fear losing anything from a few thousand dollars to their entire "family savings".
Adding to fears, some panicked investors have reportedly been tricked into handing over the contents of their cryptocurrency wallets by scammers presenting themselves as Bitconnect "customer support".
I've studied Bitcoin/Cryptocurrency. I love the logic and theory behind it.
It is true financial freedom without government oversight, but 2 questions have always kept me from investing:
(1) How easy/hard is it to retrieve the investment back if I want to sell?
(2) What can I buy with crypto?
Thanks for reading .
The biggest problem at the moment is how to withdraw cash at the exact time you want!
You can initiate a transaction now and it takes a day to be completed..!
The steem blockchain is still far ahead of the game with free transactions and 3 secs time frame
I agree. The high fees and transaction times are of utomost concern right now. I have found myself staying away from Bitcoin for the time being. I'd rather use other cheaper and faster routes.
I really don't think there is a crypto collapse. There is definitely a lack of scaling happening with only one coin. It is as if everyone wants a Model-T Ford (eg; bitcoin) and there are not enough to go around then the damn thing won't do over 20 mph (not to mention no available parts). But all my friends want one. I don't sell them any longer either.
But every one wants one.
A Steem 911 turbo would do a much better job, it's fast and it gets there with no fees.
It is harder to earn your bitcoins than to sell it. But you cannot do it on the same moment. So it is not very good to pay your beer :-)
good post men i like this
very kreativ
I am so into crypto that I only care about question 2. The way I see it when you say I get my investment back I am assuming it comes back as fiat. Yet is the idea not to get away from fiat in the first place. I hope one day crypto will be accepted as a norm. When that day comes many of the us steemians hopefully will be able to reap on the rewards. Thanks.