24 Oct '13, 4pm

Founder reflects on the closure of Bitcoin stock exchange GLBSE by @Olivia_Solon

Founder reflects on the closure of Bitcoin stock exchange GLBSE by @Olivia_Solon

The first IPO made through the exchange was for Ubitex , a service that allowed bitcoin traders to meet face-to-face to buy and sell the cryptocurrency. Although it raised more than 1,100 bitcoins, the service never had any success and its founder disappeared. Since then, some legitimate businesses such as bitcoin mining companies Asic Miner and Giga-mining, sold shares through the exchange, using investors' money to buy equipment and paying out the rewards as dividends to shareholders. At its peak, GLBSE was responsible for around 10 percent of the mining power in the Bitcoin network and was doing a similar volume of trade to what MT Gox was at the time.

Full article: http://www.wired.co.uk/news/archive/2013-10/24/bitcoin-ex...

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