The troublesome history of the bitcoin exchange MtGox
J Thoendell stashed this in Cryptocurrency
Most, if not all, of the people interested in the bitcoin phenomenon have heard of MtGox, the Japanese bitcoin exchange. I’ll look in to some of the issues they’ve run into over the handful of years they’ve existed.
From trading cards to real money
MtGox started in 2009 as an exchange for trading cards (MtGox = Magic: TheGathering, Online eXchange), by Jed McCaleb. Before this, Jed was mostly known for creating the P2P-file sharing software eDonkey2000. In July 2010, MtGox switched from being a trading card exchange, to a bitcoin exchange, letting users buy bitcoin for “real money”.
I had no idea this was the history.
A lot of the Bitcoin faithful have turned their backs on MtGox lately.