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Remember bitcoins crash last july? Bitcoins became worth over 200$, then crashed to 60$ in one fell swoop. During the crash, the biggest bitcoin exchange marketplace decided to arbitrarily stop transactions. This tells you two things. It's a volatile currency, and for whatever reason they want, bitcoins exchange can decide to shut off and leave you with worthless currency if they feel like it. The currency is backed by nothing. That being said, real life currency isn't any better, something like the Cyprus bank could happen here too. Some people think gold is the perfect currency, in an ideal world it's not a bad idea. But if something really bad happened tomorrow, something apocalyptic, people wouldn't care about gold. People would want food, lighters, antibiotics, gas, etc, those are the only things that keep value no matter what.
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