Mt Gox: The Potential Black Swan Conspiracy Theory
Mt. Gox was a bitcoin exchange based on Shibuya, Tokyo, Japan. When it launched in 2010, it was handling over 70% of all bitcoin transactions worldwide by early 2014, when it abruptly ceased operations amid revelations of its involvement in the loss/theft of hundreds of thousands of bitcoins, then worth hundreds of millions in U.S dollars. It was founded by a programmer named Jed Mc Caleb on the 18th July 2010. He decided that the bitcoin community at the time needed an exchange for trading bitcoin and regular currencies. So Mt. Gox launched on the said date with its exchange and price quoting service deploying on the spare mtgox.com domain name. In March 2011, Mc Caleb sold the site to French developer Mark Kapeles who was living in Japan because he felt that the site needed someone to really bring out its true potential. Then on the 13 June 2011, the Mt, Gox bitcoin exchange reported that about 25000 BTC (...