Seems like the much talked about virtual currency BitCoin is attracting enough attention from banks for them to take action hey. The 4th largest BitCoin exchange, BitFloor, has shut it’s doors indefinitely and has promised to return everyones money after a US bank closed their account. BitCoin has had a rollercoaster ride recently with the currency hitting highs of over $200 and dropping to $70. It’s also suffered from trading being halted due to technical issues so the news that BitFloor is shutting down doesn’t help much hey.
It’s a virtual currency designed around the idea of a new form of money that uses cryptography to control its creation and transactions, rather than relying on central authorities like banks or federal reserves from different countries.
Here’s a video explaining it if you wanna know more.
Now you know.