Posted on 02/11/2014 7:17:33 AM PST by Errant
(Reuters) - The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected "unusual activity."
The bitcoin price varied dramatically from one exchange to another, with Tokyo-based Mt. Gox, the best known operator of a bitcoin digital marketplace, recording one of the biggest drops for the day.
On the Mt. Gox platform the currency plunged to as low as $500 early on Monday, down more than 27 percent from Friday's final price of $692, according to the Mt. Gox website. It last traded at $595.74, off nearly 14 percent from Friday.
(Excerpt) Read more at reuters.com ...
Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely
Great. I have one bitcoin there, and the proceeds from the sale of one in limbo somewhere.
Coinbase is still showing $650-something.
Yep, there's are more attacks underway... http://freerepublic.com/focus/f-chat/3121781/posts
Please keep us posted on your coins in limbo. I feel sure Mt. Gox will make good on them. Looks like we are all going to go through a period of rebuilding of confidence and value. I've been through several periods like this already. Once when the price went to $65... ;)
What doesn't kill it will only make it that much stronger. We may be witnessing a coordinated effort now by government and bankers to try to do that very thing. Mighty nice of 'em if that is the case...
I would move whatever you have over to Coinbase or to a wallet as soon as you can. Mt Gox will probably fail at some point during this, but it may already be too late. Stopping withdrawals is a normal item on the shutdown check sheet.
The government will never adopt crypto-currency, but you can bet that Apple and Google will... I wonder which one they will adopt?
That’s not true. The governments of the world (including the U.S) are seriously looking at it and sizing up the lay of the land before acting — Otherwise it would have been taken down already. Granted they may not adopt it, but there is certainly a possibility.
Oh and if the U.S decides not to adopt it, then be assured that Apple and Google and the like will not be accepting it.
I would move whatever you have over to Coinbase or to a wallet as soon as you can. Mt Gox will probably fail at some point during this, but it may already be too late. Stopping withdrawals is a normal item on the shutdown check sheet.
Almost everything else is in local wallets, well encrypted and backed up.
US Gov May regulate it...but they will never adopt a currency which can be tracked for each transaction that is made.
Other counties have outlawed it but I think the US Gov may take a look at regulating it...maybe even offer exchange at US Post Offices. It may make it easier for them to tax the citizens as well, which I am sure they will have an interest in.
There will be a crypto-currency for Apple and Google, mark my words...whether or not the US Gov “adopts it”...unless the US outlaws it specifically.
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