A year of scandals, theft, and the collapse of a major exchange is apparently taking its toll on cryptocurrencies.
What in the name of Satoshi Nakamoto is going on here?
Well, Juniper says Bitcoin and other virtual currencies have taken a serious hit in reputation and valuation following a year that included stories about the Mt.Gox exchange collapsing, theft of Bitcoins from BitStamp wallets, connections with unsavory sites where people were using the currency to buy and sell drugs and guns, and concerns about regulatory issues.
There is some hope, however. Juniper believes that the emergence of new exchanges could stabilize values and help these new currencies regain trust. But such a turnaround may take a couple of years, the report adds.