Feds seized $2.9M from Mt. Gox, court docs show

Re:Feds seized $2.9M from Mt. Gox, court docs show by CoreSet on Monday August 19, 2013 @09:14PM (#6241034)

I suppose the bitcoin ethos of a decentralized network - with no single vulnerable point of attack - breaks down once you consider that until you can buy groceries, pay rent, and just generally use the currency everywhere, there's always the last point of vulnerability: wherever you convert it to "actual" money.

But maybe that's an unfair assessment.

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Re:Feds seized $2.9M from Mt. Gox, court docs show by dwaltrip on Monday August 19, 2013 @09:32PM (#6241120)

For a non-governmental currency that hasn't yet had its 5th birthday, I think bitcoin is doing decently well in terms of merchant acceptance. My personal opinion is that broad merchant acceptance will only come after it is widely used for investment/asset protection (if ever, of course). One indication for this idea is the magnitude by which forex volumes dwarf actual GDP. But it's all speculation :)

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