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Alias Born | 10/29/2009 |
Saturday, January 25, 2020 1:35:54 PM
Right now the process a major PITA. I would need to open one account to sell my PlusOnes for Bitcoins (with a long wait for the transfer from Ihub plus trading/transfer fees) then open a second account to make another transfer of the Bitcoin to sell for $ (with more delays and more transfer and trading fees). Ridiculous.
Compare to stocks. No fees anymore. Trade is done in a nano-second.
The second big negative is what is what is the value of these coins? Sure, Bitcoin has "value" but it's all on pure faith (to be fair, just like the dollar) but it can be used for various things. I won't get into the illegal uses for slying moving money around which makes the valuation risks worth it to certain folks.
Now, you have thousands of Johnny-come-lately coins....I'm amazed they are worth anything. But then again, most penny stocks are no better so there you go. Name your poison I guess. At least the stocks are easy to trade!
On a positive note, my cost basis is $0.00 so it's all just fun and games.
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