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Malicious Life

The Fall Of Mt. Gox – Part 1

Malicious Life

Malicious Life

Technology

4.81K Ratings

🗓️ 22 January 2019

⏱️ 50 minutes

🧾️ Download transcript

Summary

In its prime, Mt. Gox was essentially the place where Bitcoin happened. But for two years, Mt. Gox was imploding from the inside - while soaring to unprecedented success on the outside. Advertising Inquiries: https://redcircle.com/brands

Transcript

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0:00.0

February 2014.

0:03.0

At the foot of a tall office building in the Shibuya District of Tokyo, Japan,

0:08.0

there is a storefront.

0:10.0

Behind these tall glass doors is a project under construction headed by a company just a few

0:16.2

flaws above.

0:17.8

The store yet to be opened would be called Bit coin cafe. called Bitcoin Cafe.

0:28.0

It is being designed with an eye for style, inspired by French bistrows,

0:30.0

with programmed ceiling lights that will glow purple, orange and green.

0:35.0

Located not far from Tokyo's largest train hub,

0:39.0

Bitcoin Cafe will be a hub for forward-minded tax-savvy Tokyo citizens.

0:44.0

You can stop by for a drink, coffee, maybe a glass of wine,

0:48.0

and all payments will be made entirely in Bitcoin.

0:52.0

The store's owner, in fact, is the one who personally hacked

0:56.3

the registers to have them take Bitcoin instead of the end. One million dollars have already been spent on making this the cafe of the future.

1:07.0

But you wouldn't otherwise know it just by walking by.

1:20.0

After all these months of preparation, there's little about Bitcoin Cafe that would catch your eye. Its doors are locked, its window shades closed.

1:25.0

There's nothing really that would indicate that this is Bitcoin Cafe in the first place,

1:30.0

or really any kind of shop at all. You'll have to look very, very close to see the word

1:36.0

café printed on the sign out front because it's masked in plastic wrapping.

1:42.3

Bit coin cafe was a really exciting idea,

1:46.0

but we're in 2019 now and it didn't ever open.

1:50.0

It never will.

...

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