Tim Knowles
Aug 25, 2017 · 1 min read

Bitcoin and Block Chain Technology is extensively discussed here on Medium. I am sure I have read more than a dozen stories on Medium on these subjects.

There is a transaction latency and transaction fees. You are right no special fee for international transfers.

Bitcoin has not always gone up. I am sure you already knew that.

Are you familiar with the Story of Mt. Gox Hack?

https://www.wired.com/2014/03/bitcoin-exchange

If they can be hacked anyone could be hacked but they did cover their clients losses.

Your wallet is only as secure as your password.

Setting up a Bitcoin wallet and filling it with Bitcoins is way more complicated than any other financial transaction I have done except my first mortgage or getting a balance transfer to closeout an account from a reluctant financial institution. Just learning what it would take to set up a Bitcoin wallet was a lot of effort.

Some day cryptocurrency will be user friendly but then it will probably no longer appreciating as rapidly.

I am glad you are active here on Medium.

TEK

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    Tim Knowles

    Written by

    Worked in our nations space programs for more than 35 years

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