photo credit: zcopley - cc

photo credit: zcopleycc

The market price of BTC (Bitcoin) dropped going into the MtGox shutdown, and then has risen since. This is exactly what one would predict for a normally functioning financial market without systemic risk.

MtGox had to die for Bitcoin to thrive. Its former role from early Bitcoin days has been supplanted by better, stronger entities. People learning about or trading Bitcoin should deal with reputable, well-run, well-backed companies such as Coinbase (our choice).

It’s important to know that Bitcoin protocol and transaction network doing just fine in wake of MtGox shutdown; there are no substantive technical issues. Every important new technology has birthing pains. PC did, Web did, Bitcoin does. Our enthusiasm and commitment remains unchanged.

Source: Andreessen’s tweets on Bitcoin and Mt. Gox shutdown: 1, 2, 3, 4, 5, 6



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