Arab Today, arab today bitcoin users to gather in tokyo amid mtgox woes
Last Updated : GMT 23:36:21
Arab Today, arab today
Arab Today, arab today

Bitcoin users to gather in Tokyo amid MtGox woes

Arab Today, arab today

Arab Today, arab today Bitcoin users to gather in Tokyo amid MtGox woes

Tokyo - AFP

Bitcoin users in Tokyo will gather on Thursday for a meeting set to be dominated by the shuttering of the MtGox exchange amid claims of a multi-million dollar theft. Dozens of members of "Bitcoin Tokyo" are expected to be at their weekly get-together, with some of them bracing for six-figure losses stemming from a claimed emptying of the digital vaults at the Japan-based MtGox. "It's going to be dominated by the issue," said Jonathan Waller, co-organiser of the group, which works to promote the virtual currency in Japan. Waller is one of a reported one million people who had an account at MtGox, the first exchange for the crypto-currency, and says his deposit was worth more than $100,000. "We want to share information and discuss" what has happened, he said, adding that he was angry but felt quite powerless. "We can't help. We just have to wait and see," he said. Bitcoin continued its rollercoaster ride Thursday, trading near the $600 mark, according to the Winkdex index, down 6.0 percent in 24 hours. The value swing -- characteristic of a currency that began life worth a few cents and topped out well above $1,000 -- came as Japanese authorities began probing the MtGox debacle and as a US lawmaker called for the unit to be banned. The MtGox website, which went dark on Tuesday, remained largely empty save for a message from Mark Karpeles, the France-born chief executive who has not been seen in public for several days. "As there is a lot of speculation regarding MtGox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues," he said. "Furthermore I would like to kindly ask that people refrain from asking questions to our staff: they have been instructed not to give any response or information. Please visit this page for further announcements and updates." - Bitcoin derivatives - A Bitcoin derivatives company -- btc.sx -- said it was suspending trading "due to the current closure of our main partner exchange". The company, which allows investors to carry out leveraged trades against the future price of a Bitcoin, said: "All customer balances are secure and we will honour any withdrawal requests." Founder Joe Lee is described on the company website as "a Bitcoin enthusiast whos (sic) parallel interest in finance and technology took him on a journey ending up in MtGox's Tokyo offices". In Washington, Senator Joe Manchin wrote to federal regulators urging a US ban on Bitcoins. "This virtual currency is currently unregulated and has allowed users to participate in illicit activity, while also being highly unstable and disruptive to our economy," Manchin said in his letter to the Federal Reserve and other regulatory heads. "I urge regulators to take appropriate action to limit the abilities of this highly unstable currency." Japanese authorities began a probe Wednesday into the MtGox exchange as the Wall Street Journal reported US prosecutors had already served a subpoena on the firm. The crisis at MtGox first gained wide recognition on February 7 when the company halted withdrawals, citing a flaw in the software that supports Bitcoins, which it said could allow hackers to steal them. Other exchanges said the problem was not with Bitcoin, but rather with MtGox, which critics say was not robust enough to handle the volume of transactions it was getting. In the weeks after the suspension the price of a Bitcoin on MtGox dropped and sat at around a quarter of the global average before the website went offline on Tuesday. A document circulating online and purporting to be a MtGox "crisis strategy" said the firm might have lost more than 744,400 Bitcoins in a theft that had gone unnoticed for years. That number of Bitcoins would be worth more than $400 million at present rates and represents around five percent of all the Bitcoins in existence.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bitcoin users to gather in tokyo amid mtgox woes Arab Today, arab today bitcoin users to gather in tokyo amid mtgox woes

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday