[Zathras]

After taking a class on bitcoin, here is my take.
Cryptocurrency is a perfect way to transfer funds without being traced.
Governments can’t allow this for tax or security reasons.
Mt Gox got the message from someone.
Shut down or its prison time.

[canuck_conservative]

Governments can’t allow this for tax or security reasons.

Doesn't have to be a conspiracy here, just good 'ol human nature at work. Bitcoin had two things working aqainst it -

(1) unless your "currency" is backed by hard assets (like gold), then it's "fiat" money - based entirely on trust. So who are you gonna trust - the US Gov't or a bunch of anonymous programmers scattered around the world? Gov't jokes aside, we all know how Joe Schmo will think.

(2) as word of Bitcoin got out and the price rose, there were a lot of speculators jumping on (with zero commitment to the currency concept itself) that further drove up the price. As soon as the price peaked, they bailed and took their profits, so the price tanked.