20 Jun '13, 4pm

Bitcoin is over.

Bitcoin isn't quite like a traditional currency. Even if the pieces of the Bitcoin infrastructure that intersect with the traditional banking system disappear, Bitcoins themselves don't go anywhere. You can't seize a Bitcoin like you can seize a dollar, since it's simply an alphanumeric string. But people need to be able to get their money in and out of the Bitcoin economy in order for it to be a useful alternative. With Mt. Gox and other Bitcoin go-betweens having such a hard time staying afloat, it probably won't be long before even some Bitcoin diehards consider packing it in.

Full article: http://nymag.com/daily/intelligencer/2013/06/bitcoin-sees...

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