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My problem with bitcoin has always been it's liquidity. Bitcoin exchanges are more than willing to exchange your USD for BTC but the other way around they make you jump through lot's of hoops, to me that screams scam. The true test of whether a currency is worth anything is how easy it is to exchange it to other currencies and from everything I've seen BTC fails on that count. Hey, your 500 USD in BTC is now worth 4000 USD but you can't spend it as few vendors take BTC and you can't exchange it back to a currency vendors will take.
That being said last time I look at this was a year or so ago and I know things change quickly in this world. How many guys on here are actively trading this to/from other currencies and is it as difficult as it used to be? Do you get killed with fees and commission from the exchanges?
Bitcoin is actually the least liquid of all cryptocurrencies.
While cryptocurrencies are touted as being highly liquid, bitcoin is the least liquid among them. That’s because its blockchain is old. It’s the equivalent of running all trades through a single PC in a cloud-based world.