Bitcoin is one of the alternative currency people nowadays uses for their transaction. This bitcoin acts as a electronic/virtual currency use for online transactions. Though the government in some countries tries to decline this currency, bitcoin industry still continues to stand.
What will gonna happen to the bitcoin industry now?
As we know, before you can use bitcoin, you still need to use third party software that will act as your “e-wallet”. On the other hand, MT. GOX is one of the largest and oldest bitcoin exchanges in the market; however in the past few weeks MT. GOX holds the withdrawal of its customers which lead their audience to think that they are going bankruptcy.
As the government in most countries tries to stop the people on using bitcoins, they said that to what happened to MT.GOX is a good thing as it shows the people that bitcoin isn’t that reliable as it looks.
While Ryan Straus an attorney that focuses on the virtual goods and alternative currency posted his opinion about this on PlayerAuctions Hub. “The Mt. Gox situation is troublesome for the bitcoin industry as it exists today.” He said.