India Cautions Users On Risks Associated With Virtual Currencies 121
hypnosec writes "The Reserve Bank of India (RBI) has cautioned users of virtual currencies like Bitcoin, Litecoin, and Dogecoin on the risks associated with them and said that it is looking at the use and trading of these currencies. They noted that there are quite a few risks including: theft of digital wallets that are used to store the digital currency, absence of any frameworks to tackle customer problems, disputes and charge backs; exposure to potential losses because of high volatility in value of the virtual currencies, legal and financial risks, and breach of anti-money laundering laws because of lack of complete information on counterparts in a peer-to-peer anonymous / pseudonymous systems."
Re:Bitcoin isn't a currency. (Score:2, Funny)
The need to feel superior while actually being taken for a ride. That's all I came up with.
Re:Bitcoin isn't a currency. (Score:1, Funny)
The need to feel superior while actually being taken for a ride. That's all I came up with.
If you want to satisfy that need, just buy a Mac.