28 Mar '14, 9pm

Does The Fall Of Mt. Gox Mark The Beginning Of The End For Bitcoin? [MUO Debates]

Does The Fall Of Mt. Gox Mark The Beginning Of The End For Bitcoin? [MUO Debates]

By Ryan Dube on 28th March, 2014 | The Internet | 3 Comments Does 2014 mark the beginning of the end for Bitcoin? Is this the end of the road for electronic currency? Why the melodrama? Well, Mt. Gox, the Bitcoin exchange, was allegedly hit with a series the of thefts totaling an astonishing 745,000 Bitcoins. It was probably just a matter of time, as hackers had been working diligently at breaking into Mt. Gox servers for years and grabbing the loot. Other exchanges claimed that the issues were isolated only to Mt. Gox servers, but that didn’t prevent investors around the world feeling a bit on edge about the security of this particular investment. An internal memo from Mt. Gox stated in no uncertain terms that Mt. Gox was on the brink of bankruptcy, and that the credibility of Bitcoin was destroyed, to the extent that the theft, “…could be the end of Bitcoin, at least for...

Full article: http://www.makeuseof.com/tag/does-the-fall-of-mt-gox-mark...

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