Is it the beginning of the end for Bitcoin? Virtual currency in turmoil as rumoured $375m theft
 

The credibility of Bitcoin has been dealt a serious blow after a suspected theft of $375m of the virtual currency closed one of the major exchanges through which it is traded.

The website of Tokyo-based Mt.Gox - which allows Bitcoin to be traded for US dollars - was shut down today after it had already halted cash withdrawals in the wake of rumours that hackers had managed to steal 745,000 Bitcoin.

The crisis at Mt.Gox will raise questions over the future of Bitcoin, which had surged in value last year and attracted the global attention of mainstream businesses and investors.




http://www.dailymail.co.uk/money/new...-exchange.html

I doubt it. There's too much VC and investment in related services now, too many interested parties. It definitely doesn't help the race to get it into more lay people hands though which is the critical step for bitcoin.

It will probably just temper expectation and news coverage until the next run up in price then everyone will get all excited again.

I'll ask WeHatePorn and report back to you.

That's like saying the Brinks gold theft was the beginning of the end of gold.

people hated on paypal when they first came out :2 cents:

http://f.cl.ly/items/0P021b2Y0s1J0F110P3J/divvy1.gif

Does that look like a man who understands crypto currencies?

Hahaha, this is almost as funny as it is stupid. "Major" exchange, bah hahaha.

I'll agree with you that its probably not going anywhere any time soon but lets not go comparing it to gold now, that is just ridiculous.

Agreed.

Cryptocurrencies are far better than gold and the comparison is quite ridiculous.

I didn't compare it to gold. I compared the event of what happened to gox to the event of what happened to brinks.

yeah , right, ok :thumbsup

I understand why the naysayers who missed out on the crypto paradigm are so gleeful when there is a glitch (gox isn't actually a real glitch) so many post were flying about "imaginary currency" "Bitcoin Ponzi" etc...I feel your pain guys, it's sucks to be so so SO wrong about something so important..especially when you are supposedly in the Internet Biz.

But just as I suspected - Gox going down looks to be barely a speed bump - not even the big crash (buy opp) I was hoping for. Damn.