Mt. Gox: Difference between revisions

Tibanne Ltd.
Trade name	Mt.Gox
Founder	2009
Headquarters	Shibuya-ku, Tokyo, Japan
Key people	Mark Karpeles (CEO)
Products	Mt.Gox bitcoin exchange
Number of employees	10
Subsidiaries	K.K. MtGox; MT.GOX POLAND INC. sp. z o.o.; Mutum Sigilium LLC;

Type	Bitcoin exchange
Location	Shibuya, Tokyo, Japan
Founded	2010
Owner	Tibanne Ltd.
Currency	Bitcoin
Volume	BTC 2,241,424 (last 30 days)
Website	MtGox.com

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Revision as of 12:28, 12 April 2013

Mt.Gox is the world's largest bitcoin exchange, handling about 67% of all bitcoin transactions as of April 2013.^[2] It was established in 2010.^[3]

Tibanne

The exchange is operated by Japanese company Tibanne Ltd.^[5] The company was established in 2009 and is registered by Tokyo Chamber of Commerce.^[6]

History

Its name was originally an initialism of Magic: The Gathering Online Exchange when it was an exchange for Magic: The Gathering playing cards.^[3]

Bitcoin price in USD on the Mt.Gox exchange

Trading incidents

On 19 June 2011, a security breach of the Mt.Gox bitcoin exchange caused the nominal price of a bitcoin fraudulently to drop to one cent on the Mt.Gox exchange, after a hacker allegedly used credentials from a Mt.Gox auditor's compromised computer illegally to transfer a large number of bitcoins to himself. He used the exchange's software to sell them all nominally, creating a massive "ask" order at any price. Within minutes the price corrected to its correct user-traded value.^[7]^[8]^[9]^[10]^[11]^[12] Accounts with the equivalent of more than USD 8,750,000 were affected.^[9]

In March 2013, the bitcoin transaction log or "blockchain" temporarily forked into two independent logs with differing rules on how transactions could be accepted. The Mt.Gox bitcoin exchange briefly halted bitcoin deposits. Bitcoin prices briefly dipped by 23% to $37 as the event occurred^[13]^[14] before recovering to their previous level in the following hours, a price of approximately $48.^[15]

Suspension of trading

Mt.Gox suspended trading on 11 April 2013 until 12 April 2013 2am UTC for a "market cooldown"^[16]. And cool it did. BitCoins plummeted to $62.59 after the re-open of Mt.Gox.

References

^ http://bitcoincharts.com/markets/mtgoxUSD.html
^ "Bitcoincharts volume comparison". Retrieved 4 April 2013.
^ ^a ^b "Wayback Machine: Mt Gox". Retrieved 12 April 2013.
^ [http://www.tokyo-cci.or.jp/english/ibo/2353440.htm Tokyo Chamber of Commerce and Industry - TIBANNE Co., Ltd.
^ http://www.mtgox.com
^ http://www.tokyo-cci.or.jp/english/ibo/2353440.htm
^ Karpeles, Mark (2011-06-30). "Clarification of Mt Gox Compromised Accounts and Major Bitcoin Sell-Off". Tibanne Co. Ltd.
^ . YouTube BitcoinChannel. June 19, 2011. Event occurs at Bitcoin Report Volume 8 - (FLASHCRASH) http://www.youtube.com/watch?v=T1X6qQt9ONg. {{cite AV media}}: Missing or empty |title= (help)
^ ^a ^b Mick, Jason (19 June 2011). "Inside the Mega-Hack of Bitcoin: the Full Story". DailyTech.
^ Timothy B. Lee, 19 June 2011, Bitcoin prices plummet on hacked exchange, Ars Technica
^ Mark Karpeles, 20 June 2011, Huge Bitcoin sell off due to a compromised account – rollback, Mt.Gox Support
^ Chirgwin, Richard (2011-06-19). "Bitcoin collapses on malicious trade – Mt Gox scrambling to raise the Titanic". The Register.
^ Lee, Timothy. "Major glitch in Bitcoin network sparks sell-off; price temporarily falls 23%". Arstechnica. Retrieved 12 March 2013.
^ Blagdon, Jeff. "Technical problems cause Bitcoin to plummet from record high, Mt.Gox suspends deposits". The Verge. Retrieved 12 March 2013.
^ "Bitcoin Charts".
^ https://twitter.com/MtGox/status/322355614414147588

External links

Official website

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[1] ttp://bitcoincharts.com/markets/mtgoxUSD.html

[2] "Bitcoincharts volume comparison". Retrieved 4 April 2013.

[wbm-3] "Wayback Machine: Mt Gox". Retrieved 12 April 2013.

[4] [http://www.tokyo-cci.or.jp/english/ibo/2353440.htm Tokyo Chamber of Commerce and Industry - TIBANNE Co., Ltd.

[5] ttp://www.mtgox.com

[6] ttp://www.tokyo-cci.or.jp/english/ibo/2353440.htm

[7] Karpeles, Mark (2011-06-30). "Clarification of Mt Gox Compromised Accounts and Major Bitcoin Sell-Off". Tibanne Co. Ltd.

[8] . YouTube BitcoinChannel. June 19, 2011. Event occurs at Bitcoin Report Volume 8 - (FLASHCRASH) http://www.youtube.com/watch?v=T1X6qQt9ONg. {{cite AV media}}: Missing or empty |title= (help)

[mick-9] Mick, Jason (19 June 2011). "Inside the Mega-Hack of Bitcoin: the Full Story". DailyTech.

[10] Timothy B. Lee, 19 June 2011, Bitcoin prices plummet on hacked exchange, Ars Technica

[11] Mark Karpeles, 20 June 2011, Huge Bitcoin sell off due to a compromised account – rollback, Mt.Gox Support

[register1-12] Chirgwin, Richard (2011-06-19). "Bitcoin collapses on malicious trade – Mt Gox scrambling to raise the Titanic". The Register.

[ArsFork-13] Lee, Timothy. "Major glitch in Bitcoin network sparks sell-off; price temporarily falls 23%". Arstechnica. Retrieved 12 March 2013.

[VergeFork-14] Blagdon, Jeff. "Technical problems cause Bitcoin to plummet from record high, Mt.Gox suspends deposits". The Verge. Retrieved 12 March 2013.

[15] "Bitcoin Charts".

[16] ttps://twitter.com/MtGox/status/322355614414147588

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@@ Line 78: / Line 78: @@
 ===Suspension of trading===
-Mt.Gox suspended trading on 11 April 2013 until 12 April 2013 2am [[UTC]] for a "market cooldown"<ref>https://twitter.com/MtGox/status/322355614414147588</ref>.
+Mt.Gox suspended trading on 11 April 2013 until 12 April 2013 2am [[UTC]] for a "market cooldown"<ref>https://twitter.com/MtGox/status/322355614414147588</ref>.  And cool it did.  BitCoins plummeted to $62.59 after the re-open of Mt.Gox.
 <!-- ==See Also==