Quote:
Originally Posted by Konda
But if you have $75,000,000 worth of bitcons, you still don't have $75,000,000
You'd first have to sell them, which would take years if you sell say $10K worth a week.
If any of the big bitcoin accounts starts to cash out big the price would drop.
So it's pretty useless to be sitting on $75 Mil that you can't convert to real world money without crashing the market or having to do it over a very long time span
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A paper price is only worth the paper it's printed on. Governments back their currencies with promises, no one backs Bitcoin. Doing business with it is great, investing as you point out might be risky. Because we all know what overpriced paper stocks are worth.
Until someone can walk into a bank and exchange 1000 bitcoin for $2,000,000. It's only worth what people will pay.