There's so much regulation on it, it's a bitch to buy and sell. I could either send my picture ID around and wait several weeks until I'm allowed to purchase a limited ammount, or try to do something tricky through localbitcoins (which is the perfect honeypot). The government found a way to make it so painful no one but investors and drug dealers actually want to use it.
If you want to buy through exchanges like CoinBase in the US, you need to send them a picture ID and have it associated with a bank account. You can't just buy bitcoin with a credit card in most places.
That's if something fucky doesn't happen on the exchange itself. There's way too many horror stories about people not getting their cash out or being able to transfer coins to a private wallet. I'm surprised it's lasted as long as it has with all the hacks, collapses, and freezes on accounts.
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Rellik88 ago
Are there no rich rightwingers who can start a right Paypal?
n8dgr8 ago
It’s pronounced, “Bit-coyne”
StrangeThingsAfoot ago
There's so much regulation on it, it's a bitch to buy and sell. I could either send my picture ID around and wait several weeks until I'm allowed to purchase a limited ammount, or try to do something tricky through localbitcoins (which is the perfect honeypot). The government found a way to make it so painful no one but investors and drug dealers actually want to use it.
Tzitzimitl ago
wat
StrangeThingsAfoot ago
If you want to buy through exchanges like CoinBase in the US, you need to send them a picture ID and have it associated with a bank account. You can't just buy bitcoin with a credit card in most places.
stationJO ago
That's if something fucky doesn't happen on the exchange itself. There's way too many horror stories about people not getting their cash out or being able to transfer coins to a private wallet. I'm surprised it's lasted as long as it has with all the hacks, collapses, and freezes on accounts.