Re:MtGox.com is offline
by exDM69 on Tuesday February 25, 2014 @08:24AM
(#7297426)
... an apt comparison in many ways. If the former fails, the latter is going to be in trouble.
The value of bitcoin is in many ways dependent on the irrational response of people who invest their money in it. Mt.Gox fails and many people are going to lose faith (at least temporarily) and consequently, the value has dropped significantly.
We're talking about an entity which at some point has held more than 5% of the BTC out there.
The value of bitcoin is in many ways dependent on the irrational response of people who invest their money in it. Mt.Gox fails and many people are going to lose faith (at least temporarily) and consequently, the value has dropped significantly.
We're talking about an entity which at some point has held more than 5% of the BTC out there.