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There doesn't seem to be any information about trading cards at that link. If you are making the claim that they lacked the technical foundations to generate a

by Lerc 13y ago

There doesn't seem to be any information about trading cards at that link. If you are making the claim that they lacked the technical foundations to generate a major currency exchange, then I daresay you are correct. That does not necessarily follow from formerly being a trading card business. Is it Magic the Gathering specifically that you object to? If they were in the Hanafuda card business would they have had a better chance in a more technical field.

grey-area 13y ago
If you are making the claim that they lacked the technical foundations to generate a major currency exchange, then I daresay you are correct. Yes. Is it Magic the Gathering specifically that you object to? Clearly not. People are only pointing to the likely incompetence of someone who starts off writing a card exchange (unimportant) and switches to a currency exchange (important and hard), says 'PHP can do anything', and wants to rewrite Bitcoin clients, an SSH server, a DNS server, and mail servers in PHP and then use them in production. That is all. Content is probably still hosted at kalyhost.com accessible via this SSH server written in PHP, probably with multiple vulnerabilities he doesn't know about.
- gwern 13y ago
  > People are only pointing to the likely incompetence of someone who starts off writing a card exchange (unimportant) and switches to a currency exchange (important and hard), says 'PHP can do anything', Mark Karpeles did not write Mtgox, Jed McCaleb (edonkey2000, Ripple) did. I've been emailing with McCaleb (see https://en.wikipedia.org/wiki/Talk:Mt.Gox#Possible_citogenesis_concerning_whether_MtGox_ever_hosted_an_MtG_trading_site https://en.wikipedia.org/wiki/Talk:Mt.Gox#Possible_citogenes... ) and so far my best reconstruction of the early history of the mtgox.com domain name is as follows: > In late 2006, programmer Jed McCaleb (eDonkey2000, Overnet, Ripple), thought of building a website for users of the _Magic The Gathering Online_ service to let them trade cards like stocks. In January 2007, he purchased the domain name 'mtgox.com', short for "'Magic The Gathering Online' eXchange"; sometime around late 2007, the service went live for around 3 months before McCaleb moved on to other projects. He reused the domain name in 2009 to advertise his card game _The Far Wilds_. In July 2010, he read about Bitcoin on Slashdot, and decided that the nascent Bitcoin community needed an exchange for trading Bitcoin & regular currencies; a week later, after writing an exchange website, he launched it while reusing the mtgox.com domain name. [etc etc]
  - grey-area 13y ago
    Thanks for the correction on the origins. Since MagicalTux has run the site for most of its existence though as CEO and it seems developer too, I think the criticism of his methods stands. See this scary record of a response to issues from 2011 as an example: I'm adding some code to avoid this from happening, but nobody in their right mind would do that http://bitcoin.stackexchange.com/questions/1032/what-happened-with-mtgox-on-2011-9-12 http://bitcoin.stackexchange.com/questions/1032/what-happene...

by Lerc 13y ago

grey-area 13y ago

If you are making the claim that they lacked the technical foundations to generate a major currency exchange, then I daresay you are correct. Yes. Is it Magic the Gathering specifically that you object to? Clearly not. People are only pointing to the likely incompetence of someone who starts off writing a card exchange (unimportant) and switches to a currency exchange (important and hard), says 'PHP can do anything', and wants to rewrite Bitcoin clients, an SSH server, a DNS server, and mail servers in PHP and then use them in production. That is all. Content is probably still hosted at kalyhost.com accessible via this SSH server written in PHP, probably with multiple vulnerabilities he doesn't know about.

gwern 13y ago
> People are only pointing to the likely incompetence of someone who starts off writing a card exchange (unimportant) and switches to a currency exchange (important and hard), says 'PHP can do anything', Mark Karpeles did not write Mtgox, Jed McCaleb (edonkey2000, Ripple) did. I've been emailing with McCaleb (see https://en.wikipedia.org/wiki/Talk:Mt.Gox#Possible_citogenesis_concerning_whether_MtGox_ever_hosted_an_MtG_trading_site https://en.wikipedia.org/wiki/Talk:Mt.Gox#Possible_citogenes... ) and so far my best reconstruction of the early history of the mtgox.com domain name is as follows: > In late 2006, programmer Jed McCaleb (eDonkey2000, Overnet, Ripple), thought of building a website for users of the _Magic The Gathering Online_ service to let them trade cards like stocks. In January 2007, he purchased the domain name 'mtgox.com', short for "'Magic The Gathering Online' eXchange"; sometime around late 2007, the service went live for around 3 months before McCaleb moved on to other projects. He reused the domain name in 2009 to advertise his card game _The Far Wilds_. In July 2010, he read about Bitcoin on Slashdot, and decided that the nascent Bitcoin community needed an exchange for trading Bitcoin & regular currencies; a week later, after writing an exchange website, he launched it while reusing the mtgox.com domain name. [etc etc]
- grey-area 13y ago
  Thanks for the correction on the origins. Since MagicalTux has run the site for most of its existence though as CEO and it seems developer too, I think the criticism of his methods stands. See this scary record of a response to issues from 2011 as an example: I'm adding some code to avoid this from happening, but nobody in their right mind would do that http://bitcoin.stackexchange.com/questions/1032/what-happened-with-mtgox-on-2011-9-12 http://bitcoin.stackexchange.com/questions/1032/what-happene...