Another example of a shoddily-written article on bitcoin by the mainstream media.
- The article seems to imply that Mt Gox went bankrupt because its owner, Jason Karpeles, could not mine enough bitcoin to pay off his loans. wtf??
- The article points out that bitcoin is good for mainstream uses, being accepted by places like Amazon and CVS, and bad for buying drugs, because of its traceability. These things are true, but it makes one wonder whether the author couldn't remember whether he was writing a pro-bitcoin or an anti-bitcoin article.
- If the author were actually trying to delve into why anyone would use bitcoin for non-drug related purposes (e.g. on Amazon), he would have pointed out that you can get 3% cash back if you go through gyft, more than enough to cover the spread (you lose 1 to 1.5 % on the spread when you purchase bitcoin from coinbase at the same time that you purchase the amazon gift card). EDIT: Plus you don't have to worry about your credit card info getting stolen from Amazon, Best Buy, Target, Home Depot, Starbucks, or any of the other places accepted by gyft.