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CoinDesk Removes Mt. Gox from Bitcoin Price Index
- mey 13y agoIs it correct to write off a major currency exchange because they are meeting CoinDesk's own requirements? Especially when it's the 3rd largest exchange? As an outsider it seems like a bias to prevent the perception of BitCoin's value being impacted by a bad large exchange. CoinDesk is basically acting as regulator and transparency provider, which may be exactly what is needed in the realm of crypto-currencies as the community is supposed to be self regulating.
- broolstoryco 13y agoIts coinbase's index, hence it is up to them who to include or exclude. If you dont like it, you are welcome to use a different index.
- pmorici 13y agoIf it keeps unwiting people from dumping more money in either USD,EUR,JPY, or BTC into that exchange then I'd say it's the right thing to do.
- mcherm 13y agoYes. That's exactly why they HAVE requirements for inclusion: to determine which exchanges to include. And in this case the criteria seem quite reasonable (things like allowing people to take money out) and their lack may indicate that the prices are not representative.
- erichocean 13y agoCoinDesk is basically acting as regulator and transparency provider, which may be exactly what is needed in the realm of crypto-currencies as the community is supposed to be self regulating. Many people do not believe self-regulation is possible without government's monopoly on the use of force, but many theorists do believe it is possible (and likely). It'll be interesting to see how this all shakes out.
- hatu 13y agoI'm glad to see they're not the biggest player anymore. Their latest shenanigans are probably to cause a big crash but not a complete chaos (hopefully).
- waterlesscloud 13y agoA reasonable action at this point, though it's also worth noting Coindesk has been anti-Gox since it started. Which might also be a reasonable stance.
- 1qaz2wsx3edc 13y agoI'm still waiting on bitcoinwisdom to remove Mt.Gox. It must only be a matter of days now.
- eiliant 13y agoHave you thought of the people with BTC stuck on Mt.Gox?
- PhasmaFelis 13y agoI am shocked, shocked that anyone could have experienced issues banking with Magic: The Gathering Online Exchange.
- pekk 13y agoWhich is what people call it now that it lost credibility. Rewind a few months, and the story is different.
- PhasmaFelis 13y agoIn my defense, I was mocking Mt.Gox before it was cool.
- dsuth 13y agoPeople have been calling it that for as long as I've followed BTC and MTGox; that is, after all, it's name. And there have been serious questions about it's credibility in all that time as well.
- schenecstasy 13y agoMy Treant casts Protection from Normal Missiles and makes an attack of opportunity.
- benologist 13y agoReferring to it like that is just as stupid as when people used to say "M$".
- lmm 13y agoNot when that's its actual name. (Also I hear it's written in Personal Home Page)
- benologist 13y agoThey were never under any obligation to use mtgox.com for their original idea for all eternity, and on HN of all places there is no shame in pivoting to a better idea.
- carrja99 13y agoGood riddance! I never used them but heard nothing but horror stores from those who did!
- Anderkent 13y agoProbably because there's not much of a story in 'Hey, I did a transaction and it went through without problems!'. Selection bias anyone?
- emhart 13y agoEh, Coindesk found that 70% of users polled were unable to pull money out of MtGox. Even if that number were half the real rate, that's still absurd.
- jccooper 13y agoAbout time. There's long been a "MtGox price" and a "real price", and a price index should not include MtGox unless and until they're liquid enough not to distort the price.
- westiseast 13y agoIt seems like MtGox is dealing with a technical issue that all the exchanges face. From other exchanges I've received unclear, pretty floppy emails, and some just plain ignore the issue. MtGox isn't handling it particularly well, but isn't this something positive?
- mateuszf 13y agoNo, this problem is known for long and it is not a real blocker. See: http://www.coindesk.com/gavin-andresen-jeff-garzik-mt-gox-wrong-bitcoin-isnt-broken/ http://www.coindesk.com/gavin-andresen-jeff-garzik-mt-gox-wr...