The Failure of Mt. Gox, and What It Means for the Future of Bitcoin Posted on TechControlled by First Class Posting

(PRWEB) April 01, 2014

The following is a new post issued by TechControlled on behalf of First Class Posting. The following are excerpts:

“Whenever a new technological idea makes its way into the marketplace, its common to see development happen in waves: there are often small, innovative startups that first bring the ideas to market; they usually have limitless enthusiasm, but sometimes dont have what it takes to make an idea stick. These companies represent the first wave of an idea, and when the first wave ends, one of two things can happen: the idea can either fade into oblivion, or can be picked up by a second wave or companies that improve upon the original idea and help make it a part of everyday life.” Said Amy Taylor with First Class Posting.

Amy continues: “One idea that seems to have reached the end of its first wave is Bitcoin, the crypto-currency that first started to enter the mainstream in 2013. The idea of a non-governmental currency seemed especially appropriate during an era when crises seemed to be befalling so many governments around the world.”

“However, Bitcoin enthusiasts are now having to deal with a crisis of their own, as Mt. Gox, the company that once provided the largest and most well-established Bitcoin trading platform in the world, collapsed spectacularly after news came out that the exchange had lost almost a half-billion dollars worth of Bitcoin to hackers. Mt. Goxs insolvency may have occurred at the worst possible time for Bitcoin.”

Bitcoin was just getting to the point where people were starting to wonder if it had serious potential as an alternative currency, said technology expert Jason Hope. If something like Mt. Gox had happened a couple of years ago, the only people who would have heard about it would have been the really hardcore Bitcoin enthusiasts, who wouldnt be deterred by something like this, because they would love the idea no matter what. If it had happened a couple of years into the future, Bitcoin may have already been too well established for it to really matter. But since it happened now, people were paying attention to it, and it may be hard for Bitcoin as an idea to recover from that.

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About TechControlled: TechControlled is a technology and automobile website dedicated to bring the highest quality content to the world.

About First Class Posting: First Class Posting is a digital content marketing company specializing in developing viral content strategies. This includes viral posts, press releases, infographics, and seeding.

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