By now, you must have heard about the Bitcoin related Exchange in Hong Kong disappeared with half million or so people’s money. Somehow it is related to Bitcoin, or is it Bitcoin Exchange. This is the risk people know about Bitcoin, the unregulated virtual currencies, some now believe it’s really a ponzi scheme scam. NOT! I think not, I don’t think Bitcoin is a ponzi scheme scam. If it is then everyone else on earth is a scam then 🙂
Bitcoin had been in the negative side for over a year now, up a little, big crashed, up a little, big crashed, and kept on doing this for over a year already. Who can save Bitcoin?
Myself and many other Bitcoin enthusiast I’m sure would agreed that Bitcoin will never died, as long as there is one miner or one transaction or one wallet still exist, it will never died, and in fact today it’s next to impossible to get rid of Bitcoin because there are so many wallets already downloaded and active … I’m not going into the detail because I’m not an expert, but I’m sure you know what I mean on how Bitcoin was made and exist.
So with this news on the disappearance of Hong Kong Bitcoin Exchange or so call Mycoin should have cause Bitcoin price to tumble, but surprisingly Bitcoin maintain its $220 mark. What will happen in the next of days or weeks we don’t know. For sure what we know Mycoin Hong Kong Bitcoin disappeared according to the news.
So is Hong Kong Bitcoin Exchange Mycoin similar to Coinbase, Bitstamp and others? Yes, I think so. So if this happened in Hong Kong, can the same thing happen to Coinbase? Yes off course why not? But at least in Americas there are court of law. Will it happen to Coinbase? Yes possibly but for sure there will be some sign of it will fall apart before it will fall apart. What were the indication if any that Hong Kong based Bitcoin Mycoin closing? we could learn from this.