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Digital doubts after Bitcoin debacle

2014-02-25 114 Dailymotion

Is Bitcoin on life support- or just in need of a serious resusitation?<br/> <br />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.<br/> <br />Mt. Gox responded to Reuters inquiries with this statement:<br/> <br />"We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties."<br/> <br />Bitcoin prices vary depending on the exchange- but the virtual currency has had a volatile ride to say the least- and has plunged recently.<br/> <br />But NYU Professor Arun Sundararajan believes the issues are isolated- but are damaging:<br/> <br />SOUNDBITE: ARUN SUNDARARAJAN, PROFESSOR, NYU STERN SCHOOL OF BUSINESS (ENGLISH) SAYING:<br/> <br />"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."<br/> <br />The Bitcoin Foundation said in a statement

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