With the election of Donald Trump, there has been a lot of talk about Bitcoin, the queen of cryptocurrencies. In November, the price of a single Bitcoin surpassed $90,000. The president-elect has promised to turn the United States into the “crypto capital of the world.” Bitcoin is on everyone’s lips again.
The same thing certainly cannot be said of Mt. Goxwhich it has been for years the most famous website where to buy and sell Bitcointhe hub of the entire crypto ecosystem. The reason for this oblivion is quite simple: Mt. Gox no longer exists since 2014, practically prehistory in the world of cryptocurrencies. But knowing the history of Mt. Gox is essential to truly understand what Bitcoin is, how it works and how it became what we know today.
It’s this one the story that Bank Station chose to tellthe Bolognese startup specializing in financial education, in its new show Rubbish! Bitcoin and the Mt. Gox caseon its debut Tuesday 26 November at the Arena del Sole Theater in Bologna.
“Rubbish! it will be a live podcast, but don’t expect a simple conference recorded live, with guests and moderators” he says Luca Thenco-founder of Bank Station and writer of the show. “Imagine instead a theatrical reading accompanied by music and sound design, an immersive listening experience that combines financial education and storytelling”.
He live podcast Rubbish! Bitcoin and the Mt. Gox case is the winning project of the Incredibol announcement 2023 of the Municipality of Bologna. The event will take place on Tuesday 26 November at 6.30pm in the Salmon room of the Arena del Sole Theatre.
Entrance is free, reservations at this link.
Guest 2: Indeed, the Mt. Gox debacle acted as a wake-up call for many in the cryptocurrency world. While it initially caused a significant drop in Bitcoin’s price and contributed to a more cautious approach from investors, it also led to the emergence of more secure and user-friendly exchanges. In the long run, the lessons learned from Mt. Gox helped to solidify the need for a more robust framework within the cryptocurrency ecosystem, promoting the development of better security technologies and practices.
Guest 1: Simona Caselli, Cryptocurrency Expert and CEO of CoinFlip
Guest 2: Fabio Acampora, Blockchain Consultant and Co-Founder of Digital Magellan
Theme 1: The Emergence and Growth of Bitcoin
Interview Question: Can you give us a brief history of Bitcoin and how it has evolved over the years?
Guest 1: Sure, Bitcoin was created in 2009 by an unknown person or group of people under the pseudonym Satoshi Nakamoto. It’s a decentralized digital currency that operates without a central authority like a government or bank. The Bitcoin network is powered by blockchain technology, which is a distributed ledger that records all transactions on multiple computers around the world. Initially, Bitcoin wasn’t very popular and its value was very low, but it started to gain traction in 2013 when the price began to rise steadily. It experienced some ups and downs, including the Mt. Gox hack in 2014, but with the rise of other cryptocurrencies like Ethereum and the increasing interest in blockchain technology, Bitcoin has become more mainstream in recent years and its value has skyrocketed in 2020.
Guest 2: Yes, I’d like to add that Bitcoin was born out of a need for an alternative to traditional financial systems, especially after the 2008 financial crisis. It offered a way for people to transfer value without relying on banks or governments. The decentralized nature of Bitcoin was attractive because it made it immune to censorship or manipulation. Over time, Bitcoin has become more stable and scalable, thanks to advancements in blockchain technology. However, it still faces challenges like scalability and sustainability issues due to its energy-intensive mining process.
Theme 2: Mt. Gox and its Impact on Bitcoin
Interview Question: Can you explain the role of Mt. Gox in the early years of Bitcoin and how its fall affected the cryptocurrency market?
Guest 1: Mt. Gox was one of the first exchanges where people could
