THE PRUDENT INVESTOR: Why I’m ditching lousy fund managers who can’t even beat a robot! 58bn global empire steps down – but will he now run for US president? Rebecca Goodman: Victory for This is Money mtgox bitcoin theft Ofcom FINALLY says Virgin Media’s exit fee is too high – so why is it still getting away with charging it? What is an investment trust and why would you want to put your savings into one?
Do the crises in Argentina and Turkey spell danger for emerging markets as the strong dollar stings? Is it the beginning of the end for Bitcoin? Read this: Is it the beginning of the end for Bitcoin? 375m of the virtual currency closed one of the major exchanges through which it is traded. Gox – which allows Bitcoin to be traded for US dollars – was shut down today after it had already halted cash withdrawals in the wake of rumours that hackers had managed to steal 745,000 Bitcoin. Gox will raise questions over the future of Bitcoin, which had surged in value last year and attracted the global attention of mainstream businesses and investors.
500 – according to an average price index across exchanges. Gox had effectively made Bitcoin held there worth less than currency held at other exchanges, so that the price of Mt. 232 last night before the exchange closed. Six other Bitcoin exchanges have distanced themselves from Mt. Gox in an effort to shore up the credibility of Bitcoin. This tragic violation of the trust of users of Mt.
Gox was the result of one company’s actions and does not reflect the resilience or value of Bitcoin and the digital currency industry,’ the companies – Coinbase, Kraken, Bitstamp, BTC China, Blockchain and Circle – said in the statement. How the price of Bitcoin shot up late last year. As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today. Gox has confirmed its issues in private discussions with other members of the Bitcoin community,’ the companies said. Gox had once been the largest exchange handling Bitcoins. Earlier in February, it said it was halting withdrawals indefinitely after it detected ‘unusual activity.
On Sunday, Mark Karpeles, chief executive of Mt. Gox, resigned from the board of the Bitcoin Foundation, following a number of technical issues, including a massive cyber attack from unknown sources that has been spamming Bitcoin exchanges. There are hundreds of trustworthy and responsible companies involved in Bitcoin. These companies will continue to build the future of money by making Bitcoin more secure and easy to use for consumers and merchants,’ the six Bitcoin exchanges said in the joint statement. Charles Shrem, another prominent member of the Bitcoin Foundation, resigned earlier this year after being arrested in connection with an alleged drug scheme involving his Bitcoin currency exchange. WHAT’S HAPPENING WITH BITCOIN, IS IT SAFE AND IS THE BONANZA OVER? Bitcoins were launched in 2009, offering a currency free from government interference that could be shared instantly online.