News From The Crypto Currencies Scene

MtGox Resigning from Bitcoin Foundation Removes Tweets

MtGox Resigning from Bitcoin Foundation - Removes Tweets

The problems evolving around Tokyo based Bitcoin exchange MtGox seems to never stop. Now the exchange have resigned from the Bitcoin foundation and furthermore deleted all of their tweets on Twitter.

MtGox have officially resigned from the Bitcoin Foundation's board, which is the foundation that controls the Bitcoin and tries to maintain the best interests around it. Mark Karpless, CEO of the Bitcoin foundation, wrote in a blog post about the resignation:

"Effective immediately, Mt. Gox has submitted their resignation from the board of directors. We are grateful for their early and valuable contributions as a founding member in launching the Bitcoin Foundation. MtGox Co. Ltd. held one of the three elected industry member seats. Further details, including election procedures, will be forthcoming."

The resignation is coming after there has been problems between MtGox and the Bitcoin foundation, regarding Bitcoins in general, Bitcoin wallets, where the Bitcoins are stored and so on. MtGox claims that there is a large problem with the Bitcoin, a so-called transaction malleability which made them suspend their withdrawals. MtGox also stated that the error should be addressed by the foundation and that a solution should be created.

The Bitcoin foundation never addressed the issue the way MtGox wanted them to do it, instead they said that the problem is within MtGox wallet, their lack of flexibility and in their customer support. Things that many Bitcoin enthusiasts have agreed upon the last month's time or so.

MtGox also removed Twitter as a social media on their website and deleted all posts from their account on Twitter. The reason for doing so is not public yet, but we believe that it is due to too many customers complaining about their services there. However it is never a positive sign when a company tries to hide their problems instead of solving them.

News by Daniel Allermand
Daniel Allermand - Reporter

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.


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