Mt. Gox’s Original Creator Is At Work On A Secret Bitcoin Project

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February 13, 2014 by AllKnol

Mt. Gox’s Original Creator Is At Work On A Secret Bitcoin Project

TechCrunch

In what should be one of the greatest and weirdest pivots of all time, Jed McCaleb transformed Mt. Gox (short for Magic: The Gathering Online Exchange) from a card-trading platform into what became the world’s one-time leading Bitcoin exchange.

Not wanting the legal hassle of operating a crypto-currency exchange, McCaleb sold Mt. Gox to a few Tokyo-based French entrepreneurs he had never met before in 2011. They presided over Mt. Gox as it went on to dominate Bitcoin trading for more than a year by volume. However, over the past six months, the platform has seen a fall from grace as users have had trouble withdrawing their funds. New troubles emerged in the last couple days again, as Mt. Gox said it was halting withdrawals. The company said it was having problems finalizing transactions because of a perceived flaw in the Bitcoin protocol around “transaction malleability.” Other exchanges also halted…

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