Bitcoin evangelist and Coinapult Cofounder Erik Voorhees gives us his thoughts on the demise of Mt. Gox and losing nearly $300K in Bitcoin… why cryptocurrency exchanges are a threat to government and the banking industry… what really happened with China’s "ban" on Bitcoin…and advice for investing in cryptocurrencies.
Here are a few excerpts:
"You know, Mt. Gox was … really the first Bitcoin exchange. They got started by this hacker guy who put it together and was suddenly running a $100 million Bitcoin exchange. That's sort of a recipe for disaster. … This is the ultimate creative destruction of capitalism. There's a huge market opportunity for people who know how to do this right, to step in and do it—and already we have exchanges that are better run than Mt. Gox." Continue reading "Mt. Gox's Downfall Shows the Power of Creative Destruction: Erik Voorhees Interview"