Everything You Need to Know About the Mt. Gox Bitcoin Debacle

The exchange’s rapid death spiral is a result of the apparent theft of 744,000 Bitcoins (six percent of all available Bitcoins) due to a security breach, a crime that went unnoticed for several years according to a leaked document that has been connected to Mt. Gox. “The reality is that MtGox can go bankrupt at any moment, and certainly deserves to as a company,”
Bitcoin has been critiqued as a dressed-up Ponzi scheme—as more users buy in, digital currency exchanges are able to pay off the smaller group that cashes out without holding enough money in reserve. The theft and resulting shutdown shows that putting faith in unregulated financial companies is just as dangerous.

As new financial products, digital currencies are an inherent gamble. There are vulnerabilities in the form of hacker attacks, untrustworthy entrepreneurs, and the possibility of the government regulating them out of existence.

Read more: Everything You Need to Know About the Mt. Gox Bitcoin Debacle | TIME.com http://business.time.com/2014/02/25/everything-you-need-to-know-about-t…


Dear MtGox Customers,

In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.

Best regards,
MtGox Team

Arany János: Grammatika versben

Bűzlik ez az egész! Jóval előbb észre kellett volna venniük, hogy felszívódik a fedezet. Ez vagy *irgalmatlan* hanyagság vagy sikkasztás volt. Szerintem simán elkezdték felélni a befizetett pénzeket, így -ha voltak hackerek- nehéz volt észrevenni, hogy az olló (deficit) jobban nyílik a kelleténél.. Bukott már ezen sok szerencsejátékos site.. Valószínű, hogy a hackerek a hiányzó összegnek csak a töredékéért felelnek..