Has the shine worn off Bitcoin? The euphoria that greeted the cyber-currency last year, which drove prices from $13 to a high of more than $1,100, has given way to a more pragmatic view. Helping to cool down the fervor was the bankruptcy filing of Mt. Gox, once the largest Bitcoin exchange in the world. After getting hacked, the Tokyo-based firm lost a net 650,000 Bitcoins — worth $400 million at the market price of around $620 as of June 8, according to the CoinDesk Bitcoin Price Index. Two other major exchanges, BitStamp and BTC-e, were hacked as well and had to temporarily suspend transactions.
To read the original article: Heads or Tails? What the Future Holds for Bitcoin and 'Altcoins' » Knowledge@Wharton
