MtGox to drop Bitcoin and start trading game cards again

The oldest and most popular Bitcoin exchange, MtGox, has announced today that it will drop the Bitcoin currency from its portfolio and instead pick up Magic The Gathering game cards again.

“Exchanging virtual currencies was an interesting and transformative experience for us as a company and for me personally, but at this point it’s obvious it’s not the way going forward,” said MtGox founder Mark Karpeles.

The move comes as a surprise to the Bitcoin community, which has already voiced its opposition.

An alternative version of the MtGox logo created by an angered user.

An alternative version of the MtGox logo created by an angered user.

MtGox has stated that exchanging actual currencies proved to be a much harder task than expected. The online exchange had experienced issues from the moment Bitcoin trading started.

In 2011, a large scale attack on the exchange drove the price down from around a dozen dollars to 0.01 dollars per Bitcoin, briefly exposing the actual value of the cryptocurrency, with MtGox needing around a day to move the price up again.

Later, MtGox found itself unable to process US-dollar and Euro withdrawals in a timely manner, with some customers waiting for their funds for up to two years.

Recently, MtGox suffered from a vulerability attributed to the Bitcoin protocol itself, called “transsexual maneuverability”, and it still in the process of recovery.

As of now, cash withdrawals are suspended, but MtGox has announced that users will soon be able to withdraw their balances in form of cards.

In the meantime, MtGox has changed their website to reflect the change:

mtgox moneychanger

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