Bit­coin in­vestors should be wary

Balonne Beacon - - NEWS WELCOME -

KOCHIE, from the (Sun­rise) morn­ing show, was ed­u­cat­ing us on bit­coin.

It’s the pre­ferred cur­rency of the drug car­tels and money laun­der­ers.

Real es­tate prop­er­ties have been sell­ing for bit­coin and it should fit in well with the Australian bank­ing sys­tem, which is to soon face a royal com­mis­sion of in­quiry.

Any­one in­vest­ing money on dig­i­tal cur­rency should be warned that when their money dis­ap­pears, there doesn’t seem to be any course for com­pen­sa­tion as as­sets aren’t ac­ces­si­ble should the site close down.

A se­ri­ous trap for un­in­formed play­ers. — Jay Naus

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