Sunday, September 21, 2014   

Bitcoin investor smells blood on the streets
(02-26 08:57)

As Tokyo-based Mt Gox went down, a new bitcoin exchange was to be launched by SecondMarket Holdings, a US firm specializing in alternative investments, The New York Times reported.
Bitcoin values steadied after the exchange posted a note several hours after going offline, saying “a decision was taken to close all transactions for the time being in order to protect the site and our users.''
Some reports highlighted a line in the Mt Gox computer code hinting at a new owner and a document purported to be from Mt Gox and circulated online said the exchange would reopen as early as April, rebranded as “Gox.''
Fred Wilson, a venture capitalist who has invested in Bitcoin, said he bought more of the virtual currency when the price dropped Tuesday.
“The wonderful thing about a globally distributed financial network is that if one of the nodes goes down, it doesn't take the system down,'' he wrote on his blog.
“I always feel good buying when there is blood in the streets in any market. It is my favorite time to buy.''—AFP
   
Other Business breaking news:
China sentences GSK officials to 2-4 years in prison: Xinhua (09-19 17:05)
China's total loan demand dampens in Q3: survey (09-19 16:51)
Drugmaker GSK fined in China graft probe: report (09-19 16:50)
Hang Seng tracks Street gains (09-19 16:43)
Alibaba sets IPO share price at US$68 (09-19 15:39)
London stocks surge after Scotland rejects independence (09-19 15:38)
Japan downgrades economic assessment as PM promises reform (09-19 14:03)
Chinese buyers lead charge in iPhone 6 global debut (09-19 13:25)
Hang Seng dips, Shanghai gains (09-18 16:17)
Nikkei jumps on weaker yen (09-18 14:44)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.