The Mt.Gox Arrest Is The End Of The First Age Of Bitcoin

Gareth Jones

August 6, 2015

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Gareth Jones

The former head of bitcoin exchange Mt.Gox, Mark Karpeles, lost about $387 million while Mt.Gox was in business. Now he's in a Japanese prison. As this article points out Mt.Gox was emblematic of the first age of bitcoin. It was a lawless, wild and often ridiculous age full of odd characters and even odder behavior. Phase 2 promises to see some interesting and legitimate industry adoption of the distributed ledger.

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Ethereum is using it to process code while financial organizations are about to fork it in order to replace the ridiculous ACH and SWIFT systems. Average people are using it, in theory, to escape political horror shows and we are about to see the first licensed exchange open on Wall Street. The Second Age of Bitcoin is upon us, and it’s going to get a lot more interesting.

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