Wednesday, February 26, 2014

The Current Bitcoin Market

The current bitcoin market is volatile and uninsured (part of it's uniqueness). With a lost paper, wiped disc, broken computer, your investment can be wiped away without ever having the chance to return. The recent closing of the mt. gox exchange in Japan is a prime example of how to lose your bitcoins without losing their keys (because you probably never had them in the first place). 


 


Was it a scheme from the developers of mt. gox to extract money from those who trust in the bitcoin concept and markets? Have they been gathering people's funds for their bitcoins, only to deflate their value after halting trading, and purchasing back or holding the bitcoin keys for their own wealth? We may never know exactly which one of the numerous hypothetical schemes is the complete truth. But it does make you wonder.

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