Another Bitcoin site has gone bust, Flexcoin which called itself the Bitcoin bank is out of business. They posted this on their website: Flexcoin is shutting down. On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC, dividing them into these two … [Read more...]
Wired: The Inside Story of Mt. Gox, Bitcoin’s $460 Million Disaster
Wired is out today with an excellent piece by Robert McMillan on the Rise and Fall of Mt.Gox. For anyone interested in what happened with Mt.Gox or just Bitcoin in general, this is worth your time. The article touches upon how Karpeles was not equipped to be a CEO, insiders who knew things would go bad, and how there were a lot of controls not in place, that should have been in place. From … [Read more...]
Mt. Gox Files For Bankruptcy Protection Loses 850,000 Bitcoins, 750,000 Of Customers
Mt.Gox the largest Bitcoin exchanged filed for bankruptcy protection overnight claiming it has outstanding debt of about $63.6 million. The company disclosed that it had lost 850,000 units of Bitcoin, including 750,000 belonging to customers worth about $477 million, based on current exchange rates. Mt. Gox, at one point handled more than 80% of trades in the virtual currency. … [Read more...]
Mt.Gox Goes Offline, Gox.com is sold and some interesting documents show up
While reading MattVukas.com tonight Matt mentioned that there was a blogger that was posting some interesting stuff. From the article: But tonight, we may have received the final chapter of Mt. Gox’s last saga, courtesy of a Bitcoin blogger known as “The Two-Bit Idiot”. He posted a chillingly titled entry earlier today titled “Bitcoin’s Apocalyptic Moment: Mt. Gox may have lost 750,000 bitcoins”, … [Read more...]
Mt. Gox Bitcoin Price Falls Below $100, its Lowest Level Since July
Troubled BitCoin exchange continues to have problems and the price of Bitcoin on their exchange has plunged below $10o Peter Rizzo reported on CoinDesk, The price of bitcoin on Mt. Gox dropped below $100, hitting a low of $91.50 on 20th February. Data from Bitcoincharts indicates it was the lowest total observed on the exchange since 22nd July when the lowest price was $89.80. The … [Read more...]
Look out Bitcoin, Here Comes NoFiatCoin
BitCoin has certainly had a tumultuous week, from exchange problems and transfers frozen to a $2.7 million theft, this caused Venture Beat to ask if the end was near for Bitcoin. Silk Road 2.0, a black market drug-trading site based on untraceable Bitcoins, reports that 4,474 Bitcoins, valued at about $2.7 million, have been stolen from the site. The virtual currency is encrypted computer code … [Read more...]
Verisign: Rise In Value Of Bitcoin Causes Surge In .Com/.Net Domain Registrations: 22K In 2013
Verisign just published a blog on how the rising value of Bitcoin has led to surge of .com and .net domain name registrations. The value of a Bitcoin surged from roughly $13 at the beginning of 2013 to an eventual high of $1,137 at the end of November (The chart below, courtesy of Coinbase, documents the ebbs and flows of a Bitcoin’s value). By doing … [Read more...]