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CoinDesk Removes Mt.Gox From Bitcoin Price Index

Written by:

Aaron Goldstein

Published on:

Feb/10/2014

CoinDesk Removes Mt.Gox From Bitcoin Price Index

The world leader in news, prices and information on bitcoin and other digital currencies, CoinDesk.com, has taken the unprecedented step of removing exchange Mt.Gox from its bitcoin price index on Monday.

CoinDesk.com cited Mt.Gox’s “persistent failure to meet the Index’s standards for inclusion” as the primary reason for doing so.

Mt. Gox, one of the largest bitcoin exchanges, abruptly halted withdrawals over the weekend.

From CoinDesk.com:

Ultimately, the decision to remove Mt. Gox from the BPI was prompted by Friday’s announcement that bitcoin (BTC) withdrawals had been suspended until Monday, and today’s follow-up announcement that bitcoin withdrawals would now be suspended indefinitely. This was due to a previously known technical issue with Mt. Gox’s custom wallet implementation of the Bitcoin core protocol.

However, these recent withdrawal restrictions are just the latest in a series of issues which have made Mt. Gox’s inclusion in the BPI problematic.

CoinDesk also made reference to Mt.Gox’s price variance concerns and its love-hate relationship with customers as part of the decision to remove the exchange from its price index.

Over the past few months, more retailers and online betting sites have come to embrace the anonymous digital currency following some initial apprehension.

- Aaron Goldstein, Gambling911.com

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