LogFAQs > #923817117

Ki_cat_ posted...

So...

Do people actually cash out? This is the most pyramidy pyramid scheme if I've seen it. People buy, make some early investors rich and just sit on the coin.

I also hear it's not exactly easy to cash out.

You buy and sell (or spend) based on the current market price. I haven't sold any though I don't see how it would be much harder to sell than buy. I do know that some exchanges i.e. Coinbase have withdraw limits so you would have to wait to withdraw your cash.

I never got the argument that it's a pyramid scheme. It's just people trading for what they think it's worth, and there is an initial cost to mining the coins which gets used in electricity.
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