February 25, 2014

Bitcoin Exchange Mt. Gox Goes Dark

Ruairidh Villar, writing for Reuters:

“Mt. Gox CEO Mark Karpeles told Reuters in an email: ‘We should have an official announcement ready soon-ish.”

“Soon-ish.” Doesn’t sound much like “full faith and credit,” now, does it? I’ll keep my greenbacks, thanks.

Inflation may eat away at the value of a dollar, but a dollar will always be accepted as currency. Bitcoin?

Bitcoin is a “virtual currency,” which means ‘something we made up that might be worth something in a week, a month, a year. Or not.’ How dumb is that? And how dumb are people who exchange sovereign currency for it?

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