All the crypto fortunes amassed over the last year are good for nothing if they can’t be spent or cashed out for currencies that can actually be spent in the real economy.As David Gerard, author of Attack of the 50-ft blockchain, has been documenting on his blog the last few months, that’s not an easy thing to accomplish in reality. The number of merchants accepting cryptocurrency directly (especially the more exotic flavours) is limited. Platforms specialising in exchange (such as Bitfinex, Coinbase etc) have the annoying habit of limiting withdrawals to small sums and/or suffering processing delays whenever prices move downwards. Also, OTC or local exchange markets are highly illiquid, expensive to navigate or simply untrustworthy and dangerous.This leaves few options for realising the
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All the crypto fortunes amassed over the last year are good for nothing if they can’t be spent...