They generated $1.3m in revenues in a year with a 20% growth rate.Their growth rate was for 2013? 400%+, putting them at a runrate of about $5.5m at the start o

They generated $1.3m in revenues in a year with a 20% growth rate.Their growth rate was for 2013? 400%+, putting them at a runrate of about $5.5m at the start of 2014. And the amount of bitcoin transactions has only grown since 2013. e.g. the record highest number happened just yesterday. Or compare wallets at the top bitcoin company right now which verifies users and bank accounts, Coinbase, which was at 700k wallets this time last year, now at roughly 2 million. Another 300 million of VC money was invested since 2013 into the bitcoin space. I mostly agree on your larger point regardless, big traders get discounted (any source for that from any particular bitcoin exchange, btw?) and exchanges are definitely not gold mines right now. Look at Vault of Satoshi, just closed. It ran well but it just wasn't bringing in the type of revenue they could with the amount of expertise they had on board. They've switched focus to a Netflix app. But comparing 2012 Mt. Gox to 2014 says quite little, we're talking about a trainwreck of a company here in an industry that's seen 1, almost 2 orders of magnitude growth since 2012. If price is a good proxy (not really great, but sorta ok), the fiscal year in which Mt. Gox made the $1.3m revenue / $300k profit started with a bitcoin price of less than $5, for perspective. Things have grown somewhat since then.