Be Warned!

With the flucuations in Bitcoin prices it is not a good idea to send the monetary value of your Bitcoin to another party if you agreed on a set amount of Bitcoin.

Here is what happened to me. I tried to purchase mining speed with Bitcoin but I sent it with Coinbase as the USD equivalent. The transaction didn’t go through and my money was lost in the Block-chain.

You see the Block-chain is set up for a clean transfer money. Meaning you don’t have a clean transaction if the market falls and you sent the coin as the government issued equivalent. This is called a Bad Block. It may be a flaw in the design of the Block-chain or maybe it was intended to push people away from using government issues.

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