28 Feb '14, 9pm

Bitcoin Shrugs Off Mt. Gox's Death Rattle

In fact, Antonopoulos and others blame Mt. Gox for no less than five prior crises in Bitcoin that often had much more dramatic effects on the digital currency’s value. When the exchange was first hacked in the summer of 2011, the news led to the first Bitcoin sell-off, plummeting its price from $35 to just a few dollars. Antonopoulos argues that Mt. Gox’s hour-long delays in trading in April of last year was the cause of the currency’s second major crash from a value of $266 to around $50. Mt. Gox’s problems had become frequent enough that to be “goxed” has become a verb in Bitcoin-speak, meaning to be “fooled or trolled repeatedly” according to the Urban Dictionary

Full article: http://www.forbes.com/sites/andygreenberg/2014/02/28/bitc...

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