Geez, I woke up to this...!

Mt Gox Files For Bankruptcy After $473 Million In Bitcoins "Disappeared"

http://www.talkmarkets.com/content/news/mt-gox-files-for-bankruptcy-after-473-million-in-bitcoins-disappeared?post=40926

This Tyler Durden guy is always bashing on Bitcoin.  Kind of frustrating...  though I guess it will help lower the value of bitcoin temporarily which is good if you want to buy more.

Bitcoin Exchange Mt. Gox Is Finished
http://www.talkmarkets.com/content/currenciesforex/bitcoin-exchange-mt-gox-is-finished?post=40670

A good read:

Bitcoin’s largest exchange is dying. Here’s why that’s not a problem for Bitcoin.
http://www.washingtonpost.com/blogs/the-switch/wp/2014/02/15/bitcoins-largest-exchange-is-dying-heres-why-thats-not-a-problem-for-bitcoin/

That's a good point.  I'm still new to bitcoin.  Any chance the US would ever make it illegal?

Unless it keeps going lower.  Been a lot of bad press lately.  Arrests in the US, Bitcoin made illegal in Russia, 2 out of 3 exchange halting withdrawals.  I respect you for keeping your cool far better than me.

OUCH! More Bad Bitcoin News...

Bitcoin Crumbles To 3-Month Lows On Mt.Gox As CEO Defends Exchange

http://www.talkmarkets.com/content/news/bitcoin-crumbles-to-3-month-lows-on-mtgox-as-ceo-defends-exchange?post=40513

Sigh...
Another Bitcoin Flash Crash Imminent? Second Major Exchange Follows MtGox In Suspending Withdrawals
http://www.talkmarkets.com/content/currenciesforex/another-bitcoin-flash-crash-imminent-second-major-exchange-follows-mtgox-in-suspending-withdrawals?post=40447

Thanks for the clear and easy to understand responses.

I will say though, that as bitcoin becomes more and more popular and valuable, it will attract more and better hackers.  Nothing is "unhackable."

Also, did you see today's news about government crackdowns in the US and abroad.  Bitcoin was just declared illegal in Russia and the value of bitcoins plummetted by 80%!!  I'm sure much of that value will be regained in the near future but doesn't any of this diminish your enthusiasm?

http://www.talkmarkets.com/content/news/bitcoin-flash-crashes-drops-by-80-in-seconds?post=40397

So if both authors are biased, who is to be believed?  Either way, I found both articles to be extremely interesting.

I'm still new to bitcoin but there are a number of things I've been wondering about:

1.  Is the author accurate when he describes what would have happened at Target had its customers used bitcoins instead of credit cards?

2.  I had read about that guy who accidentally threw away the wrong hard drive, and he lost $7 or $8 million dollars worth of bitcoins.  If it's digital, why can't it be reinstated.

3.  With everyone from Google, to Twitter to Target being hacked these days, what's to protect Bitcoin from being hacked?  If it's gone, it's gone.

Still new to bitcoin but I'm trying to get my head around all this.

What did you think of the rebuttal to Marc Andreessen's New York Times Article?

"Why Marc Andreessen Is All Wrong About Bitcoin... And It Could Cost Investors Billions"
http://www.talkmarkets.com/content/technology/why-marc-andreessen-is-all-wrong-about-bitcoin?post=40321

I was really impressed with Andreesen's piece, but the man does have $50 million invested in Bitcoin related ventures, so he's obviously biased.  This new article gave me some pause and I thought he made some really great points.  But I'm too new to bitcoin to be an expert on these issues.  Wanted to hear some thoughts before I invested...

Thanks.