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Mt. Gox was one bitcoin exchange. And anyone in the bitcoin mining gig already knew they were in trouble weeks ago, and has been using the other exchanges that are more stable.
How is this killing Bitcoin? Oh, and from your article:
Quote:
UPDATE: This might not be the last we hear of Karpelès and his Gox-related doings. It’s being reported that he purchased the domain name Gox.com this week, which could indicate that the Bitcoin mountain will rise again under a different but similar brand.
And yet I still have no idea what Bitcoin is, is this something like Twitter or Foursquare?
Crypto currency, or alternate currency. Bitcoins are "created" via massive petaFLOP operations of distributed computing, and are used as currency on the internet. Currently trading for ~$600 per coin. Essentially, open source currency that is "discovered" using an Internet version of mining for precious metal. Mt. Gox was one exchange trading them, but had internal foulups that quickly got the Bitcoin community to jump their ship and go with other exchanges.
Mt. Gox was one bitcoin exchange. And anyone in the bitcoin mining gig already knew they were in trouble weeks ago, and has been using the other exchanges that are more stable.
How is this killing Bitcoin? Oh, and from your article:
bit coin is dying slowly. Simply propping up under new domains wont revive the exchanges because they will ultimately become targets and shut down. The government has unlimited resources, and while bitcoin might never be "killed", the value will surely erode as it continues to be attacked.
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