Digital doubts after Bitcoin debacle
- 10 years ago
Is Bitcoin on life support- or just in need of a serious resusitation?
Mt. Gox- once the world's biggest bitcoin exchange- abruptly ceased trading on Tuesday- protestors gathered outside the exchange's Tokyo office asking where their money was.
Mt. Gox responded to Reuters inquiries with this statement:
"We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties."
Bitcoin prices vary depending on the exchange- but the virtual currency has had a volatile ride to say the least- and has plunged recently.
But NYU Professor Arun Sundararajan believes the issues are isolated- but are damaging:
SOUNDBITE: ARUN SUNDARARAJAN, PROFESSOR, NYU STERN SCHOOL OF BUSINESS (ENGLISH) SAYING:
"When something like this happens on what used to be the largest exchange, investor faith in bitcoin goes down and this hurts bitcoin investors around the world."
The Bitcoin Foundation said in a statement
Mt. Gox- once the world's biggest bitcoin exchange- abruptly ceased trading on Tuesday- protestors gathered outside the exchange's Tokyo office asking where their money was.
Mt. Gox responded to Reuters inquiries with this statement:
"We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties."
Bitcoin prices vary depending on the exchange- but the virtual currency has had a volatile ride to say the least- and has plunged recently.
But NYU Professor Arun Sundararajan believes the issues are isolated- but are damaging:
SOUNDBITE: ARUN SUNDARARAJAN, PROFESSOR, NYU STERN SCHOOL OF BUSINESS (ENGLISH) SAYING:
"When something like this happens on what used to be the largest exchange, investor faith in bitcoin goes down and this hurts bitcoin investors around the world."
The Bitcoin Foundation said in a statement