Bitcoin Investors Learn the Hard Way About Currency Exchange Risks
Mt. Gox, the Japan-based online exchange for Bitcoin with other currencies, halted operations this past week and continues to ignore investor requests for explanations other than that unusual activities on the exchange require halting its services. http://www.reuters.com/article/2014/02/25/us-mtgox-website-idUSBREA1O07920140225
Bitcoin is the leading cryptocoin, a privately invented online form of money traded worldwide on currency markets in exchange for US dollars, British pounds, Japanese yen, and many other currencies. Mt. Gox has offered a leading exchange service for Bitcoin currency markets. Several other exchanges such as Bitstamp and BTC-E have issued statements to assure their investors that nothing like Mt. Gox’s problems has occurred in their operations. http://btctrading.wordpress.com
Analysts at http://HamiltonFinanceServices.com characterize the Mt. Gox cessation of services as a landmark development in the struggle for survival of cryptocoin technology, and they say failure to overcome market interference may begin a major decline in the financial value of all NewCoin technologies.
Have you invested in any cryptocoins lately? Which ones do you trust, or can you reasonably trust any of them?
hamilton.jerry
