RATE Group | Block School: Early Bitcoin, Rocky Mt Gox Days
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Block School: Early Bitcoin, Rocky Mt Gox Days

30 Sep Block School: Early Bitcoin, Rocky Mt Gox Days

Posted at 12:34h in Bitcoin News by

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Here at NewsBTC we believe that education and knowledge is fundamental to the wider adoption of cryptocurrencies and growth of the blockchain industry. We will be expanding our education section by delving deeper into some of the machinations and technology behind the blocks. Our weekly articles aim to provide a greater understanding of how things work in the crypto ecosystem.

Magic: The Gathering Online Exchange

In the first year of Bitcoin’s existence there were no exchanges to change fiat into Bitcoin and vice versa. This essential requirement was addressed by Jed McCaleb who turned his domain name mtgox.com into the first Bitcoin exchange called Mt. Gox.

Originally known as Magic: The Gathering Online Exchange, it was a gaming platform for players to trade cards like stocks. It was launched in July 2010 and quickly became one of the largest Bitcoin exchanges but with that popularity it also became a central point of failure. McCaleb sold the site to Mark Karpelès, a French…

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