tag:blogger.com,1999:blog-3758330678390419129.post6577739419988351090..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: HOT: Report Bitcoin Exchange Mt. Gox InsolventRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3758330678390419129.post-2725764541500149842014-02-24T22:39:33.409-05:002014-02-24T22:39:33.409-05:00Sometime after the $5 million confiscation, the pr...Sometime after the $5 million confiscation, the price of Bitcoin started to skyrocket. If Mt. Gox was using cash from new orders to fill earlier withdrawals the cost of filling outstanding Bitcoin orders at earlier prices would have soared.<br /><br />On top of that you have the report of 750,000 bitcoins being stolen. It's a mess.Robert Wenzelhttps://www.blogger.com/profile/14296920597416905488noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-28960345480858765852014-02-24T22:26:17.348-05:002014-02-24T22:26:17.348-05:00"Mt. Gox claimed to have over one million acc..."Mt. Gox claimed to have over one million accounts and at one time accounted for more than 25% of all Bitcoi trading. Losses are likely in the hundreds of millions."<br /><br />Bear with me here, but if $5 mil in confiscation tipped over Mt. Gox, how could it snowball into hundreds of millions in losses absent total fraud?Anonymousnoreply@blogger.com