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Topic: [2016-05-22] 3 Common Ways Bitcoin Users Lose Their Funds (Read 354 times)

sr. member
Activity: 413
Merit: 250
At its core, Bitcoin is all about granting users full financial control at any given time. For some reason, a lot of these users will store funds in an online wallet or exchange, both of which are fully controlled by a third party. If the company providing this service would shut down all of a sudden, there is no guarantee users will ever see their money again.

http://themerkle.com/3-common-ways-bitcoin-users-lose-their-funds/

I would add ponzi schemes to the lot.  Wink
Some people even purchase bitcoins just to participate in ponzis.


Maybe also gambling? Bitcoins mean that anyone can gamble, even 5 year old kids! And how easy is it to earn a few mBTC these days. Tongue Plus, there are some idiots who think there is a way to bypass the house edge and manage to get profit in the long run (martingalers, *koff koff*).
legendary
Activity: 1918
Merit: 1012
★Nitrogensports.eu★
At its core, Bitcoin is all about granting users full financial control at any given time. For some reason, a lot of these users will store funds in an online wallet or exchange, both of which are fully controlled by a third party. If the company providing this service would shut down all of a sudden, there is no guarantee users will ever see their money again.

http://themerkle.com/3-common-ways-bitcoin-users-lose-their-funds/

I would add ponzi schemes to the lot.  Wink
Some people even purchase bitcoins just to participate in ponzis.
legendary
Activity: 1596
Merit: 1010
At its core, Bitcoin is all about granting users full financial control at any given time. For some reason, a lot of these users will store funds in an online wallet or exchange, both of which are fully controlled by a third party. If the company providing this service would shut down all of a sudden, there is no guarantee users will ever see their money again.

http://themerkle.com/3-common-ways-bitcoin-users-lose-their-funds/
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