Investors eye Mt. Gox exchange for 1 Bitcoin

It has emerged that a group of investors are seeking to purchase Mt.Gox, the bankrupt Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange, for a total sum of... 1 Bitcoin.

As of writing, that equates to just over $400.

The group, with Hollywood connections, such as child actor and now CEO of GoCoin, Brock Pierce, and other venture capitalists, explain their valuation by claiming it's virtually impossible to place any sort of value on lost Bitcoins. Meaning, they haven't been found, so essentially, they're valueless.

Although around 200,000 coins have been recovered, some of which are part of the exchange's assets, there's still hundreds of thousands of missing Bitcoins that are owed to clients, and the group state they'll assume all of Mt. Gox’s liabilities and obligations, if the acquisition is successful, with the ultimate goal of reviving the exchange, of course.

The investor group shall provide creditors with two options:

1. Obtain a sum prorated from the 200k bitcoins so far attained by Mt. Gox, which approximately equates to 20% of their claim.

2. Receive an equity stake of the same amount in the new, up and running exchange.

In addition, they group would set aside half of its transactions fees to help with paying back clients.

Yet, it could be said, the potential to find some more missing Bitcoins, however remote, still exists, so the valuation of a token gesture of 1 Bitcoin, even if there's an “information vacuum", is somewhat perplexing. On the other side, it can be argued that taking on such a project carries huge risk, it's likely the missing coins shall never be found, and the revival of Mt.Gox shall bring huge benefit to not only the Bitcoin industry, but put some faith back into Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as a whole, since without consumer confidence in digital currencies, the industry shall die a death.