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  • Bitcoin Bank Run, Take 2

    02/11/2014 4:32:38 PM PST · by BfloGuy · 17 replies
    Mises Economics Blog ^ | 2/11/14 | David Howden
    Enough people were upset with my previous post claiming that Mt. Gox is suffering a bitcoin bank run because it is holding only a fractional bitcoin reserve that it caused me to think twice about the claim.I could have been wrong, but I doubt it.Actually, the backlash was strong enough that it made me think that perhaps I was using some common terms in strange ways. I referred to Mt. Gox as a bank, which is a stretch by some definitions, but it definitely stores bitcoin for clients and as such, acts as a custodian.Maybe it was the term “bank...