21 Jan '13, 5pm

How a central authority attempted (and failed) to regulate Bitcoin:

How a central authority attempted (and failed) to regulate Bitcoin:

How a central authority attempted (and failed) to regulate Bitcoin Back during the largest of the Bitcoin bubbles, and even to this day, the largest Bitcoin “exchange” is the Magic the Gathering Online Exchange (MtGOX,) a website where the vast majority of USD to Bitcoin transfers takes place and the largest Bitcoin “authority,” so to speak. To many, MtGOX was the hub for Bitcoin activity. It may still be. I’m not going to visit a website called the Magic the Gathering Online Exchange to find out. As the price of Bitcoins was falling like a rock dropped from a burning zeppelin, MtGOX enacted various “walls” in an attempt to halt the precipitous fall in the “value” of Bitcions. These, of course, did not work, but it’s hilarious how those who screech to the heavens and back about removing central authorities from currency and babble on about fiat this and fiat that allowed a...

Full article: http://buttcoin.org/central-authority-bitcoin

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