Bitcoin aficionados wash their hands of Mt Gox

Financial Times ^ | 20 February, 2014 | By Ben McLannahan and Stephen Foley

[Errant]

When Marco Crispini joined the Bitcoin meet-up in Tokyo two years ago, there were just a handful of members, assembling every month in a Shibuya fruit shop. As interest grew the proprietor complained, forcing the group – now holding weekly gatherings – into a nearby high-rise.

On Thursday night – with talk likely to be dominated by events unfolding less than 200m away at Mt Gox, the world’s dominant Bitcoin exchange – turnout at the 11th-floor bar at the Hikarie tower is expected to be the best ever, at more than 30.

“There is no getting the genie back in the bottle,” says Mr Crispini, a Brit who abandoned studies in aikido to set up MatrixVision, which sells anti money-laundering tools to Bitcoin-using businesses. “I used to say that Bitcoin was going to change the world. But now it actually is changing the world.”

[Errant]

Bitcoin Price Hits $135 on Mt. Gox Following Office Move and Verification Demand

Current price of Btc is just under $600 at other exchanges.

[Errant]

Click to be Added / Removed.

[Errant]

Other News:

•The First Bitcoin ATM In The US Is Opening In Austin, Texas

•Bitcoin ATM Gets Surprise Launch in Biggest Boston Train Station

•Silk Road heist could doom Bitcoin black markets

•Will Bitcoin Replace Cash?

•I bought $20 worth of bitcoin at an ATM in Albuquerque

•Speculators look to cash in on Bitcoin crisis

•Bitcoin ATM Gets Surprise Launch in Biggest Boston Train Station

[WashingtonSource]

bump

[PAR35]

Current price of Btc is just under $600 at other exchanges.

Including the other one which has shut down withdrawals?

[Errant]

Exchanges:

http://bitcoincharts.com/markets/

[mmichaels1970]

After years when it was effectively the only place to go, they say, it has been exposed as having inadequate technology, a lack of resources to improve technology and poor customer service.

An indictment on Mt. Gox as a business. Not on bitcoin as a technology.

When I was researching where to exchange, it was evident that Gox was not trustworthy. Even though it held generally a higher exchange rate than others, complaints about lengthy withdrawal delays were around for at least months.

Now Mt. Gox is trading at about 1/3 of any other major exchange and I wouldn't go near it. They're hoping to sucker in people who think they're going to somehow be able to arbitrage funds they can't withdraw.

[Stentor]

ZeroHedge

Bitcoin Exchange Mt. Gox Is Finished

[Zathras]

I just went to a bitcoin training with a group of Engineers.
I understand how they are doing this and what is going on.
Still don’t know if it is worth the danger but add me to your ping list.
Thanks

[Errant]

You're added ;)

I'm sure all of the payment systems are looking at integrating the push technology at least.

A few news updates from coin desk:

•‘Balanced’ Integrates Bitcoin Payments for 450+ Online Marketplaces

•Italian Money Transfer Law Threatens Bitcoin Businesses

•TigerDirect Offers $20 Discount for Bitcoin Shoppers

•PayPal Likes Digital Currencies? Yawn

[Errant]

Bitcoin Exchange Mt. Gox Is Finished

I hope Mt. Gox at least returns everyone's Bitcoins they're holding and payments in the pipeline. I think the CEO had better, if he wants to live in peace for the rest of his life.