of the cryptocurrency. According to an article in the UK edition of Wired, 18 of 40 web-based bitcoin fully mined businesses offering to exchange bitcoins into other fiat currencies have gone out of business, with only six exchanges reimbursing their customers. The governments of China and France have issued public advisories to warn against potential risks in bitcoins, and the government of India is expected to make a similar warning. Some Bitcoin wallets have security flaws that render them vulnerable to attack.
Pros and cons of using bitcoins
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He likened the purchase to a lottery ticket. Who will suffer the consequences if the bubble bursts? They have also been hailed as an attractive investment product. These services act like Paypal does for cash or credit card users, providing the online exchange system for bitcoin, and as such, theyre likely to charge fees. He also stated that the global money supply of bitcoins is around 5 billion today, compared to 70 trillion in the global M2 money supply.