02 Jul '13, 6pm

3 reasons why Bitcoin is getting its groove back

Bitcoin is in a slump. In recent months, the crypto-currency has been in the news for all the wrong reasons: the Department of Homeland Security shut down its primary exchange, the State of California is gunning for the Bitcoin Foundation and, meanwhile, the mainstream press still regards it as an exotic financial hobby rather than a serious currency. Bitcoin, however, has weathered similar dark periods and still has the potential to shake up the world’s financial architecture. And, in the last week, three news stories brought hope for Bitcoin believers that the currency can overcome its twin weaknesses: illiquidity and lack of legitimacy. Here’s a summary of the news and a quick comment on what it means: The return of a major Bitcoin broker? Mt. Gox says it will play by the rules Recall that it’s easy to swap Bitcoins with other users — but that it’s hard to trade them fo...

Full article: http://gigaom.com/2013/07/02/3-reasons-why-bitcoin-is-get...

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