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While Bitcoin makes use of private key encryption to confirm house owners and register transactions, fraudsters and scammers might try to sell false bitcoins. For occasion, in July 2013, the SEC brought legal motion towards an operator of a Bitcoin-related Ponzi scheme. The lack of uniform rules about bitcoins raises questions over their longevity, liquidity, and universality. However, their lack of assured value and digital nature means the acquisition and use of bitcoins carries several http://minds.com/ inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission , the Financial Industry Regulatory Authority , the Consumer Financial Protection Bureau , and other agencies. Though Bitcoin was not designed as a standard fairness investment , some speculative traders had been drawn to the digital money after it appreciated rapidly in May 2011 and once more in November 2013. Thus, many people purchase bitcoin for its investment worth rather than as a medium of exchange.