'GOXBTC' Trading Platform Bitcoin Builder to Halt Trading Tuesday Evening
Ever since the Mt. Gox stopped withdrawing user funds a few weeks ago, some users have turned to a solution dubbed Bitcoin Builder, which allowed them to sell their trapped funds in exchange for real bitcoins at heavily discounted rates. The idea was that those who purchased the so-called "GOXBTC" may have the slight chance of acquiring actual bitcoin funds if Mt. Gox got back on its feet and resumed operations. Since the Tokyo-based exchange filed for bankruptcy protection last week, it has been looking less and less likely that users would be able to get any value from GOXBTC -....
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Bitcoin Builder has been keeping the public in the dark as of late, but it has recently recently updated their website with a new announcement: GOXBTC is classified as Bitcoin that is “locked” in the Mt. Gox exchange, which shut down in early 2014. Bitcoin Builder is expecting the price for GOXBTC to go higher than .11 BTC. However, people were able to immediately liquidate their locked bitcoins at this price until February 24th, which eliminated a lot of risk that would have came from waiting for a higher price. I was able to talk to Josh Jones, the CEO over at Bitcoin Builder. He was....
People are lining up to get rid of their MtGox bitcoins at discounted rates. Questions of insolvency have surrounded MtGox for roughly half a year, and it has now gotten to the point where some people are willing to sell their GoxBTC at a discounted rate. Whether they think Gox is playing with funny money or they just want to get out of the exchange right now for another reason, there seem to be plenty of people willing to sell their GoxBTC for less than what it should be worth. Josh Jones, the founder of Dreamhost, has decided to take advantage of the situation by setting up an exchange....
A new market will allow Mt. Gox customers to trade funds in their exchange accounts for bitcoin, effectively allowing bitcoin withdrawals despite an official freeze. The service, Bitcoin Builder, has also created an arbitrage opportunity for traders who wish to exploit the growing spread between the price of bitcoin on Mt. Gox and other major exchanges. According to the market's founder Josh Jones, some 14,500 BTC (about $8.1m) worth of trades have been executed since it was set up on 11th Feb. A widening spread. Bitcoin Builder works by taking advantage of the widening spread between the....
Since ride-sharing platform Uber has denied rumors saying that it is accepting bitcoin transactions and clarified that this feature is not yet in the pipeline, Bitcoin Builder sought to create a workaround by offering users access to its Uber business account to make bitcoin payments. However, Uber decided to suspend this particular account this week. Bitcoin Builder is still appealing to Uber to reinstate the account and, according to a message shared on Reddit, the company will reexamine the suspension. Uber Payments Thru Bitcoin Builder. As it turns out, Bitcoin Builder is facilitating....
A not-so-known bitcoin exchange by the name of GoXBTC (launched in May of 2013) based in mainland China has announced they're ceasing operations as of January 18th. The announcement was made on the website's homepage, and cites both "operating costs" and "risk[s] of legal uncertainty" as the primary issues behind the closure. Users at the exchange are being urged to withdraw money - albeit it is quite short notice. GoXBTC says there is a possibility of the service re-opening, but as of current, the legal area surrounding bitcoin in the People's Republic of China is nothing short of....