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Keyword: bitcoinbank

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  • Bitcoin Bank Run

    02/09/2014 4:00:24 PM PST · by BfloGuy · 15 replies
    Mises Economics Blog ^ | 2/8/14 | David Howden
    Ever wonder what a digital bank run looks like? Nearly one million Mt. Gox users are finding out first hand.The Tokyo-based exchange, popular amongst currency traders, has risen in prominence by offering its customers storage services in a variety of currencies. This effectively makes it act as an online bank. One such “currency” that it allows accounts to be denominated in is bitcoin.Yesterday the exchange halted withdrawals of the digital currency, citing a technical malfunction. It promises to reopen for business on February 10th. What many news sources are missing is that this is not a particularly new development –...