"Bitcoins," Internet nerd libertarian monopoly money, crashes, no one surprised

[tpfkaw]

Seems that one well-known internet leftist is feeling pretty bad right now.

http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/

"These past days, I have done a lot of thinking about bitcoin that ended up with me investing all of the money I had saved and all that I can borrow into the currency. Here’s why."

[tpfkaw]

https://support.mtgox.com/entries/20208066-huge-bitcoin-sell-off-due-to-a-compromised-account-rollback

[tpfkaw]

http://venturebeat.com/2011/06/19/popular-bitcoin-exchange-mt-gox-hacked-prices-drop-to-pennies/

...

Following the most recent hack, Mt. Gox immediately took down its main site and said it will re-launch the exchange after it “rolls back” prices to the levels Bitcoin had before the incident, which was about $17.50 per Bitcoin. Mt. Gox said service would not resume before 10 p.m. EST Sunday and that the re-opening could be “delayed depending on what is found during the investigation.”

...

Thankfully for Bitcoin owners, the crash appears to have just affected the price of Bitcoin on Mt. Gox, rather than the currency in general. Competing Bitcoin exchange TradeHill currently prices the currency at around $13 per Bitcoin. TradeHill has halted trading “for a few hours” because of the possibilty that members had used the same password for TradeHill and Mt. Gox.

...