Friday, March 28, 2014

Overstock.com And Bitcoin Shop Offer Virtual Currency First-Mover Advantages


Summary
  • Bitcoin troubles haven't dented virtual currency demand.
  • Overstock.com Bitcoin sales have exceeded estimates.
  • Solution providers need to provide payment options for multiple virtual currencies.
With the bankruptcy filing of Bitcoin exchange Mt. Gox and potential loss of 850,000 bitcoins worth nearly $500 million, the Bitcoin market got a rude awakening to the risks involved in virtual currencies. On top of that, the supposed founder of the Bitcoin was identified and failed to back up those claims, leaving investors unsure of the origins of the concept. The shroud of secrecy and fraud isn't helpful for the development of the cryptocurrency.

Read the full article at Seeking Alpha.


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