mt. gox might have died then. this may be the end for mt. gox. >> we will continue to follow the story. matt miller in new york, thanks so much. coming up, why a prominent venture capitalist leftist silicon valley to head to the midwest. we will ask why, next. ♪ >> welcome back to "bloomberg west." shares of linkedin are falling. there are concerns that growth is down. shares are down nearly 10%. now they are down about 7.0%. the fifth straight quarter of falling growth. linkedin is vying right edo. -- vying -- buying bright media. for more on linkedin, i want to bring in one of the company's very first invest spurs. -- investors. he was a partner at sequoia capital or 12 years. he left silicon valley and move to ohio where he is investing in midwest companies as a cofounder and investor. thank you for joining us. after spending 12 years at sequoia, why did you move to ohio?ustomer-- >> we saw the opportunities here. 25% of the u.s. research is done here in the midwest. in addition, 22% of the gdp is here in the midwest. in the past, you d

when mt. gox originally failed, when it dropped and he drove the price down and it was hacked in 2011, when the price was $31, they had an auction. mt. gox might have died then. this may be the end for mt. gox. >> we will continue to follow the story. matt miller in new york, thanks so much. coming up, why a prominent venture capitalist lef silicon valley to head to the midwest. we will ask why, next. ♪ >> welcome back to "bloomberg west." shares of linkedin are falling. there are concerns that growth is down. shares are down nearly 10%. now they are down about 7.0%. it will mark the fifth straight quarter of falling growth. linkedin is buying bright media. for more on linkedin, i want to bring in one of the company's very first investors. he was a partner at sequoia capital for 12 years. he left silicon valley and move to ohio where he is investing in midwest companies as a cofounder and investor. thank you for joining us. after spending 12 years at sequoia, why did you move to ohio? >> we

people are falling into the world really the world poll so the headline reads bitcoin exchange mt gox faces whirlpool of death as prices drop to lowest point in six months and the latest chapter in the continuing story of mt cox the troubled bit quinn exchanges further spiral down the plughole as it released another statement today citing security issues at its tokyo office as the reason withdrawal capability hasn't been returned so you know when they announced us this headline is a few days old the price at mt gox went to below one hundred dollars now many people on you tube are surely king. as well of course on the other exchanges it was always above six hundred around six hundred dollars so you can either look at it as a shriek that big queen itself is crashing or as this tweet from jim rickards who is an expert in markets and finance and debt and debt restructuring and bankruptcies if big coin two hundred dollars at mt gox and five hundred eighty dollars that coin desk it's not too different prices market saying sixty five percent chance gox fails well of course going down is not

the world pool so they have to exchange mt gox faces whirlpool of death as prices drop to lowest point in six months and the latest chapter in the continuing story of mt cox the troubled bitcoin exchanges further spiral down the plughole as it released another statement today citing security issues at its tokyo office as the reason withdrawal capability hasn't been returned so you know when they announce this headline is a few days old the price at mt gox went to below one hundred dollars now many people on you tube were surely king. as well of course on the other exchanges it was always above six hundred around six hundred dollars so you can either look at it as a shriek that big queen itself is crashing or as this tweet from jim rickards who is an expert in markets and finance and debt and debt restructuring and bankruptcies if big coin two hundred dollars at mt gox and five hundred eighty dollars at queen desk it's not two different prices market saying sixty five percent chance gox fails well of course going down is not an exchange that's an index of different prices on different e

course going down is not an exchange that's an index of different prices on different exchanges and the mt gox price is an indication of the faulty mechanism that they've used for price discovery that we've covered on the show many times we've talked about it not up to the task and so they finally were overwhelmed and they're probably going to go completely out of the picture and other exchanges will take their place and the bitcoin price is google recover because general technology of big coin the cryptology is not being questioned here of course it's not as strong as macs going cryptology which has a superior cryptology in a faster rate this is why a lot of people are now moving into macs coin because they realize it's a period to bitcoin in many ways big coin however does have a first mover advantage and it is widely adopted and there's a lot of services and goods plugged into it but i wouldn't be surprised to see max going to twenty thirty forty million dollar market cap in the in the short term so the price fell down to below one hundred dollars at mt gox went back up to three hundred

coming right up and finally edward harrison joins me in today's big deal to discuss the long believe of mt gox and what it means for the future of bitcoin now let's get the show on the road. with. j.p. morgan the largest bank in the u.s. by assets is reducing both its headcount and its target profitability for twenty fourteen now j.p. morgan said it expects its total headcount to fall by five thousand to two hundred sixty thousand people the bank announced the changes saying that creating a business model which can deal with new regulations is cutting into the firm's profits however j.p.n. is confident that it can win in this new environment and is up to nearly profit target from twenty four to twenty seven billion with a b billion dollars now mariana lake explained that the bank would achieve these targets by optimizing its retail banks in other words subtracting the number of humans and adding to the number of machines now check out these before and after slides are kind of interesting now the one on the left that picture that's of a traditional bank branch and the one of the. right is a

rickards could look at it and say well the market is just pricing in a sixty five percent chance that mt gox will collapse just like argentina for example their bonds on the face of it will say one hundred us dollars but you can buy them for fifteen dollars that doesn't mean that the u.s. dollar went to fifteen dollars that means that people are thinking that argentina has an eighty five percent chance that they're going to go bankrupt well it's so locked of reporting on financial news we see it in the gold market the physical gold price is a lot higher than the paper price on very sixteen inches but the media will report on the paper price even though that's not the actual physical price of gold in china and india and around the world were chatting in five ten fifteen percent higher prices they also choose to pick the absolute least interesting price or representative price for a big coin by picking on the mt gox price which is not the price of bitcoin why because they say the agenda here is clear banks don't want the competition they don't want good coin to succeed the central banks th

rickards can look at it and say well the market is just pricing in a sixty five percent chance that mt gox will collapse just like argentina for example their bonds on the face of it will say one hundred u.s. dollars but you can buy them for fifteen dollars that doesn't mean that the u.s. dollar went to fifteen dollars that means that people are thinking that argentina is has an eighty five percent chance that they're going to go bankrupt it's so locked of reporting on financial news we see it in the gold market the physical gold price is a lot higher than the paper price of a very sixteen inches but the media will report on the paper price even though that's not the actual physical price of gold in china and india and around the world was changing in five ten fifteen percent higher prices they also choose to. the absolute least interesting price or representative price for a big coin by picking on the mt gox price which is not the price of bitcoin why because a the agenda here is clear banks don't want the competition they don't want good point to succeed the central banks that deal o

i discussed the collapse of one of the oldest and arguably the most well known exchange for back on mt gox and as we had to break here's a look at some of our closing numbers the bell stick around. more . pain. for the future harder. between two and three hundred million guns united states so you can act like they're not here and keep kids away from them. or you know i mean this teaches them a lot of responsibility and simply. some children if we can't do it for our children for future. economic ups and downs in the fine at all. the longer the deal and the rest because . they seem to be everything we can all say. live. live live live. little. lives . clinton. told her my language at all but i will only react to situations i have read the reports and like the pollution i know i will leave them to the state department to comment on your letter palin please say that if lister k.l.a. car is on the docket. they get no more weasel words when you know they had a direct question prepared for a chase when you have a bunch be ready for a bad little freedom of speech and a little bit on the freed

coming right up and finally edward harrison joins me in today's big deal to discuss the rumblings of mt gox and what it means for the future of bitcoin now let's get the show on the road. with. j.p. morgan the largest bank in the u.s. by assets is reducing both its headcount and its target profitability for twenty fourteen now j.p. morgan said it expects its total headcount to fall by five thousand to two hundred sixty thousand people the bank announced the changes saying that creating a business model which can deal with new regulations is cutting into the firm's profits however j.p.n. is confident that it can win in this new environment and is up to nearly profit target from twenty four to twenty seven billion with a b billion dollars now marion the way you explain that the bank would achieve these targets by optimizing its retail banks in other words subtracting the number of humans and adding to the number of machines now check out these before and after slides are kind of interesting now the one on the left that picture that's of a traditional bank branch and the one of the. right

mt. suspends trading over an apparent theft. and the $19 billion bargain. facebook's founder says he got a great deal on whatsapp. deutsche telekom seeks an alliance with its latest acquisition. good morning, everybody. welcome to "the pulse." bloomberge from european headquarters in london. francine lacqua is off today. privacying up, putting first. we test out the world most secure smartphones. is it really nsa-proof? we begin with the crisis in the ukraine. there could be a delay to the vote for a new government. remains onpresident the run with a warrant out for his arrest. bloomberg's -- managing editor is on the ground in key ever with the latest. what is the latest? with the latest. what is the latest? >> what we have seen over the last few days, the situation in central kiev is very disciplined. that more remember than 60 people died last week. unarmedal, the mostly citizens militia seems to be keeping control in the city. still no sign of the official police anywhere. >> can you

i discussed the collapse of one of the oldest and arguably the most well known exchange for back on mt gox and as we head to break here's a look at some of our closing numbers the bell stick around. salo sounds a. little rights. to the. lives. of the young girls cam all for the future harder. between two and three hundred million guns united states so you can act like they're not here and keep kids away from them. the plaza sound is a lark you know i mean this teaches them a lot of for a responsibility and since the gun debate through the eyes of children if we can do it for our children move for our future what is untrue this movement. right on the street. first street. and i think you're. on a reformist twitter. on instagram. to be a mum. on. the phone. back now with chris martin then we continue our conversation now chris i want to start off by asking you you mentioned stocks before how can stocks you know continue to go down if you know we have this multiple expansion going on where how is this possible. well aaron the fundamentals are still really really poor you know one of the t

discussed the collapse of one of the oldest and arguably the most well known exchange for big crime mt gox and as we had to break here's a look at some of our closing numbers the bell stick around. that's far worse let's. look at the finish line of the marathon. from. what we're hearing now i'm. back now with chris martin since we continue our conversation now chris i want to start off by asking you you mentioned stocks before how can stocks you know continue to go down if you know we have this multiple expansion going on where how is this possible. well aaron the fundamentals are still really really poor you know one of the things that happened when the fed was out there buying all these assets and the money much of it did leak into equity markets not just here but all across the globe obviously you know the talk of one percent or fraction of one percent made out very well in that story but underneath that any organic lasting sort of durable economic gain has to include broad participation we peek under the covers we discover it's not just you know the under fifty percent on the socio

to trust on monday however it added that if they acquired transaction to any mt gox decline address and currency withdrawals and yann euro etc would not be affected by this issue what does this mean for between holders are they going to get their money back or not you know it's not a free. currency you know when we talk about bitcoin before we're talking about you know transactions that are free flowing and so forth these people basically have their money tied up in they can't get it out so the negatives of this particular thing it's not ready for prime time you know no mean stream person wants to go through what these people are going through right now and i certainly don't thank you as always that's all for now but you can see all segments for. richard in today's show on youtube about youtube dot com slash boom bust r.t. we also love hearing from you so please check out our facebook page at facebook dot com slash boom bust our two you can also tweet us at our aid at edward and it's from all of us here at boom bust thanks for watching we'll see you next time i'm like. there's a say

on monday, mt. gox deleted all the posts from its twitter account a day after the ceo resigned from the board of the bitcoin foundation which is an industry advocacy group. last week, the company announced it moved its office due to security problems. small protests have been going on outside the offices in tokyo since february 15th. the issues at mt. gox have caused frustration among customers in the bitcoin community amid rumors it could be hiding its financial difficulties. an unverified document circulated on the webb claims mt. gox has lost more than 744,000 bitcoins. that's worth $350 million. and that's due to theft related to the software bug. several other major bitcoin exchanges have released a joint letter today. it's trying to distance itself from mt. gox and reassuring investors their funds are secure. this was a result of one of the company's actions and doesn't relate the resilience of the value of bitcoin and the digital currency industry. they say, quote, as with any new industry, t

tokyo based mt gox was once the largest because an exchange in the world now it appears to be bust the question today however is whether the whole propos currency movement has been dealt a fatal blow max kaiser the dynamic of the report here on our two is a crypto currency even jealous and he thinks the mt gox episode is good for crypto currency is because it strengthens the community by a limiting the exchange with poor systems and controls max has his own crypto currency going so i began by asking him to give us the full deep on going take a look. max ca is the next generation crypto currency cryptology a stronger it's faster there's a lot of money moving into alternative currencies like max guy this is one of the fallout from the bitcoin situation with mt gox people realize that they need to diversify into other coins other crypto coins and max coin is immediately one of the most popular alter currencies as they're called are crypto currencies in the market and we've got some surprises coming from max coin some enhanced lens to the cryptology that will place it probably the absolute

tokyo based mt gox was once the largest because an exchange in the world now it appears to be bust the question today however is whether the whole propos currency movement has been dealt a fatal blow max kaiser the dynamic of the report here on our t.v. is a crypto currency even jealous and he thinks the mt gox episode is good for crypto currency is because it strengthens the community by a living in exchange with poor systems in controls max has his own crypto currency coin so i began by asking him to give us the full deep read on max going take a look. is next generation cryptocurrency cryptology is stronger it's faster. there's a lot of money moving into alternative currencies like max coyle this is one of the fallout from the bitcoin situation with mt gox people realize that they need to diversify into other coins other crypto coins and max coin is immediately one of the most popular alter currencies as they're called are crypto currencies in the market and we've got some surprises coming from max cohen some enhanced minutes through the cryptology that will place it probably the ab

tokyo based mt gox was once the largest because an exchange in the world now it appears to be bust the question today however is whether the whole propos currency movement has been dealt a fatal blow max kaiser the dynamic. the kaiser report here on r t is a crypto currency evangelist and he thinks the mt gox episode is good for crypto currencies because it strengthens the community by a limited exchange with poor systems and controls max has his own crypto currency max coins so i began by asking him to give us the full deep read on max going take a look. max cause is the next generation crypto currency cryptology a stronger it's faster there's a lot of money moving into alternative currencies like max. this is one of the fallout from the bitcoin situation with mt gox people realize that they need to diversify into other coins other crypto coins and max coy is immediately one of the most popular alter currencies as they're called are crypto currencies in the market and we've got some surprises coming from. enhanced runs through the cryptology that will place of probably the absolute cu

a hold you know it's very easy for the states just come in and out i mean part of this is not just mt gox it's the fact that you know people rush people in japan and they said where they're making different pronouncements on the money on corning and they're saying that you know what i can accept as a result loses its value now mt gox is the third biggest exchange in the world and represents around fourteen percent of the total decline traded just last week or alone now mt gox said customers would still not be able to transfer declines from a mt gox while the turn external declined address on monday however it added that if transaction to any mt gox there quite a trust and currency withdrawals and yann euro etc would not be affected by this issue what does this mean for between holders are they going to get their money back or no you know it's not free functioning currency you know we've talked about bitcoin before we're talking about you know transactions that are free flowing and so forth these people basically have their money tied up in they can't get it out so the negatives of thi

tokyo based mt gox was once the largest because an exchange in the world now it appears to be bust the question today however is whether the whole propos currency movement has been dealt a fatal blow now if skies are the dynamic to report here on r t is a crypto currency evangelist and he thinks the mt gox episode is good for crypto currencies because it strengthens the community by a limiting exchange with poor systems in controls max has his own crypto currency max coins so i began by asking him to give us the full deep read on max going take a look. is next generation cryptocurrency cryptology is stronger it's faster there's a lot of money moving into alternative currencies like. this is one of the fallout from the bitcoin situation with mt gox people realize that they need to diversify into other coins other crypto coins and max coy is immediately one of the most popular all to currencies as they're called are crypto currencies in the market and we've got some surprises coming from and some enhanced runs through the cryptology that will place a probably the salute cutting edge of c

tokyo based mt gox was once the largest big corn exchange in the world now it appears to be bust the question today however is whether the whole propos currency movement has been dealt a fatal blow max kaiser the dynamic of the kaiser report here on r t is a crypto currency evangelist and he thinks the mt gox episode is good for crypto currency is because it strengthens the community by a limited exchange with poor systems and controls max has his own crypto currency max coin so i began by asking him to give us the full deep read on max going take a look. is next generation cryptocurrency cryptology is stronger it's faster there's a lot of money moving into alternative currencies like max. this is one of the fallout from the bitcoin situation with mt gox people realize that they need to diversify into other coins other crypto coins and max coin is immediately one of the most popular all to currencies as they're called are crypto currencies in the market and we've got some surprises coming from. friends to the cryptology that will place it probably the salute cutting edge of crypto cu

tokyo based mt gox was once the largest because an exchange in the world now it appears to be bust the question today however is whether the whole propos currency movement has been dealt a fatal blow max kaiser the dynamic of the kaiser report here on our t.v. is a crypto currency evangelist and he thinks the mt gox episode is good for crypto currency is because it strengthens the community by a limiting exchange with poor systems and controls max has his own crypto currency max coin so i began by asking him to give us the full deep read on max going take a look. is next generation cryptocurrency cryptology is stronger it's faster there's a lot of money moving into alternative currencies like. this is one of the fallout from the bitcoin situation with mt gox people realize that they need to diversify into other coins other crypto coins and max coy is immediately one of the most popular alter currencies as they're called are crypto currencies in the market and we've got some surprises coming from. friends to the cryptology that will place it probably the salute cutting edge of crypto cu

discussed the collapse of one of the oldest and arguably the most well known exchange for big crime mt gox and as we head to break here's a look at some of our closing numbers the bell stick around. sad . little rights. to the. lives. of the young girls cam all four of a future hunter. between two and three hundred million guns united states so you can act like they're not here and keep kids away from them. the plaza sound is the law or you know i mean this teaches them a lot of for a responsibility and simply come to pay through the eyes of children if we can't do it for our children love for our future what is the country will smoke more. fully under will show harmony wachovia bank news all the face i describe you know i'm only. a pleasure to have you with us here on t.v. today i'm sure. winter is when the sahara comes to life. away says palm trees a big complicated. people are waiting for the. biggest event of the yeah. the desert festival. this is true it is very out of this nation leading camel races have spent the last year preparing for the grueling marathon. the day before the

gox said customers would still not be able to transfer declines from a mt gox while the turn external declined address on monday however it added that if transaction to any mt gox decline of trust and currency withdrawals and yann euro etc would not be affected by this issue what does this mean for between holders are they going to get their money back or not you know it's not a free functioning currency and you know when we talk about bitcoin before we're talking about you know transactions that are free flowing and so forth these people basically have their money tied up in they can't get it out so the negatives of this particular thing it's not ready for prime time you know no mean stream person wants to go through what these people are going through right now and i certainly don't thank you as always that's all for now but you can see all segments for. in today's show on youtube about youtube dot com slash boom bust r.t. we also love hearing from you simply check out our facebook page at facebook dot com slash boom bust our two you can also tweet us at our aid at edward and h. fro

mt. gox, once the dominant trading platform for the virtual currency has gone off light, quiet, shut. other exchanges trying to reassure bitcoin users saying there are bad actors out there that needed to be weeded out. bitcoin prices standing at last check, $516 per bitcoin. "after the bell" starts right now. david: we have craig hodges, hodges fun ceo. christian ma goo, yield shares ceo and founder how he is playing the bond market. larry shover from the pits of cme. larry, are you a believer in this market? seems we're divided more than ever for those that say we'll continue to go up 10% and those at that say expect another correction. >> i do not expect another correction. in fact i am a believer. my end target for the year is. we're eye guessing -- digesting. traders want to know how we negotiate the 1850 space, very, very important. keep in mind to have a 10% correction in the market we need to so some type of stretched valuations which we clearly do not have or a macroevent which i

if we can move on without mt. gox we will see better exchanges pop up. >> so many bitcoins were stolen from mt. gox. how can people have confidence in any bitcoin exchange? >> over these years mark has not been transparent at all. people were waiting months to get documents verified. if an exchange pops up, a professional you -- new york exchange, you can expect quality products. >> who is behind mt. gox? >> a french guy who lives in japan. it was the first exchange. it started in 2010. he had first mover advantage. if you wanted to do large trades you had to go there. those days are over. >> what are the biggest challenges bitcoin faces? >> adoption and regulatory approval, getting banks on board. >> what about all those people who have not gotten their money back and probably won't? >> it's the free market, it's early. this shows you there are better ways to store your bitcoin. i had not traded on mt. gox for years. you can use a product like piper wallet and store the bitcoins on paper so they can't be hacked.

what do you think is going on with mt. gox? >> well, i'll tell you what, i'm not too surprised about it but to me the only disappointment is, we haven't seen real good competition with our dollar. i still think gold and silver is the real competition. so i'm not surprised at all what's happening. i never predicted that this, this type of digital currency is going to be able to replace it some day, it might help. you know, substitute for it, once the fed destroys the dollar which is, which is inevitable. and then other things will come about. but i've been so much involved in hard assets and something you can hold and touch, i was -- melissa: you don't like the idea of a digital currency? >> i like the idea of competition. if somebody else can figure something out and don't commit fraud. there are a lot of questions about whether there has been any fraud. no, the concept, i want to make it legal and i want competing currencies but no fraud and, i think, i believe that a digital currency was legitimate and the government should n

they were taken from mt. gox. and theoretically bitcoin is one huge public did -- public ledger, so if we could figure out which transactions were the fraudulent ones, fraudulent ones, the theft, we could trace the bitcoin and potentially follow it to whoever has stolen it. but there are ways within the bitcoin system to kind of confuse where bitcoin moved. but theoretically we could potentially see when the was taken and see the flow of transactions as to where it went. >> so what about the people who lost money? is there any way that they can be made whole again? there isn't an fdic or even a bank they can go complaint to. >> and for a lot of critics of bitcoin they are pointing to this as saying see, we told you so. you put all of this money into a virtual currency and now it's gone away you know, mt. gox filed for bankruptcy. they did say they have some assets but they also have a lot of debt so, right now it's looking like customers of mt. gox feel, you know, we're using mt. gox as their bitcoin bank have los

also mt. hamilton, we have some thunderstorms embedded here who have moved through point reyes, as well. we've got about a half-inch to maybe .6-inch offshore that will continue to rotate in through parts of the bay area. there's the thunderstorm. here's lake county where it is in the 30s and it's changing over to snow. 680 and 580, livermore and pleasanton looking at the wet weather right now. further south on the peninsula, you are getting it big time here from half moon bay, and down through the south bay. here is where we are looking at the highest rainfall totals throughout the morning and afternoon. mt. hamilton is picking up the snow. so in the next couple of hours, this is when we will see the most rain around the bay area. taking you through 11:00. then by noontime it's getting more scattered, especially in the north bay. if you want to take the bike ride for the hike, there probably is going to be a dry period throughout the day and maybe a few peaks of sun. the full forecast coming

a hold you know it's very easy for the states just come in and out i mean part of this is not just mt gox it's the fact that you know people in russia people in japan they said where they're making different pronouncements on the money on corning and they're saying that you know what i can accept as a result loses its value now mt gox is the third biggest exchange in the world and represents around fourteen percent of the total decline traded just last week alone now mt gox said customers would still not be able to transfer declines from a mt gox while the turn external declined address on monday however it added that if transactions any mt gox address and currency withdrawals and yann euro etc would not be affected by this issue what does this mean for between holders are they going to get their money back or no you know it's now three functioning currency you know we've talked about bitcoin before we're talking about you know transactions that are free flowing and so forth these people basically have their money tied up in they can't get it out so the negatives of this particular th

the world pool so they have boundaries between exchange mt gox faces whirlpool of death as prices drop to lowest point in six months and the latest chapter in the continuing story mount cox troubled big quinn exchanges further spiral down the plughole as it released another statement today citing security issues at its tokyo office as the reason withdrawal capability hasn't been returned so you know when they announce this headline is a few days old the price at mt gox went to below one hundred dollars now many people on you tube were surely king. as well of course on the other exchanges it was always above six hundred around six hundred dollars so you can either look at it as a shriek that big queen itself is crashing or as this tweet from jim rickards who is an expert in markets and finance and debt and debt restructuring and bankruptcies if big coin two hundred dollars at mt gox and five hundred eighty dollars at coin desk it's not two different prices market saying sixty five percent chance gox fails well of course going down is not an exchange that's an index of different prices o

people are falling into the world really the world pool so they haven't read bitcoin exchange mt gox faces whirlpool of death as prices drop to lowest point in six months and the latest chapter in the continuing story of mt cox the troubled between exchanges further spiral down the plughole as it released another statement today citing security issues at its tokyo office as the reason withdrawal capability hasn't been returned so you know when they announced us this headline is a few days old the big price at mt gox went to below one hundred dollars now many people on you tube were surely king. as well of course on the other exchanges it was always above six hundred around six hundred dollars so you can either look at it as a shriek that big itself is crashing or as this tweet from jim rickards who is an expert in markets and finance and debt and debt restructuring and bankruptcy's if big coin two hundred dollars at mt gox and five hundred eighty dollars that coin desk it's not too different prices market saying sixty five percent chance gox fails well of course going down is not an

mt. gox and a number of other exchanges have been plagued by problems recently, in particular mt. gox, a number of accounts have been frozen recently, et cetera, and people can't get their money out. so this is what we have right now. as a result, we see a decline in the price of bitcoin extending its drop from december when it peaked. it's up about 54% right now. it is rumored and we have no confirmation on this, some 770,000 bitcoins are locked up in mt. gox. the company did not say anything about those bitcoins in particular when they might be released or whether or not they are actually still available. >> here's the thing. we were getting into this. >> don't sugar coat it. you are screaming at each other before the show began. >> when you have one of the major exchanges go down like this in this massive technological problem, it really does raise into question the viability of bitcoin, the enthusiasts will tell you this is just part of the process. >> that's what enthusiasts do. they are enthusiastic. >> because the idea behind it is still there. >> what's the idea? digital c

address on monday however it added that a transaction to any mt gox address and currency withdrawals and yann euro etc would not be affected by this issue what does this mean for between holders are they going to get their money back or no you know it's now three functioning currency you know we've talked about bitcoin before we're talking about you know transactions that are free flowing and so forth these people basically have their money tied up in they can't get it out so the negatives of this particular thing it's not ready for prime time you know no mean stream person wants to go through what these people are going through right now and i certainly don't thank you as always that's all for now but you can see all segments for. in today's show on youtube about youtube dot com slash boom bust r.t. we also love hearing from you so please check out our facebook page at facebook dot com slash boom bust our two you can also tweet us out and made at edward n.h. from all of us here at boom bust thanks for watching we'll see you next time i'm mike. is obviously more for the ladies becaus

hy did you trust mt. gox i know a lot in the bitcoin community have not trusted them for a long time. >> i did not trust them. it was risk and i was able to do trading there. i knew the risk and got burned by it. the fault is ultimately mt. gox 's, but i should've known better. >> this is not a bitcoin problem but a problem related to mt. gox but a comes on the heels a lot of concerns regarding volatility and bitcoin prices barely side arrestedin proponent just a few weeks ago. of negativeen a lot publicity surrounding this currency. with all this in mind, what is the future of it? >> i 100% agree there has been a lot of negative publicity. but i think as these things clear up, whether it goes away and whether people get their money back, we will see, it is for the the way companies that are trustworthy to move forward. i would rather see this out-of-the-way and behind us, that we can move forward. i would like to have seen it last year. that is where we are. trustcan people really bitcoin when things in

gox said customers would still not be able to transfer declines from a mt gox wallet to an external declined address on monday however it added that if they acquired transaction any mt gox address and currency withdrawals and yann euro etc would not be affected by this issue what does this mean for between holders are they going to get their money back or no you know it's no three functioning currency you know when we talk about bitcoin before we're talking about you know transactions that are free flowing and so forth these people basically have their money tied up in they can't get it out so i mean the negatives of this particular thing it's not ready for prime time you know no mean stream person wants to go through what these people are going through right now and i certainly don't thank you as always that's all for now but you can see all segments. in today's show on youtube out youtube dot com slash boom bust archie we also love hearing from you simply check out our facebook page at facebook dot com slash boom bust our two you can also tweet us at our aid at edward n.h. from al

the only one who knows what mt gox is doing with their money is mt. gox and the problem is they are being extremely unprofessional about this. they just shut down their site, they're not explaining what's going on and they've got thousands of clients with millions of dollars in this exchange and they're giving no explanations. bit coin trading continues on other exchanges.. however we learned from the better business bureau, bitcoins have spawned a new scams... i think a lot of consumers don't understand it but a lot of the bitcoins are being used for scams. so if you really get a question, or someone tells you you won something or that in order to get the prize of the offer you've got to use a bit coin, do some research because a lof of the scammers are using that right now. chuck coppola joins me now with more on bitcoin business.. angie --- despite a wild week in the headlines --- one firm is attempting to put "bitcoins" on the institutional radar. "second market" is waitng on regulatory approval that will allow it to launch it's own bitcoin exchan

if we can move on without mt. gox we will see better exchanges pop up. >> so many bitcoins were stolen from mt. gox. how can people have confidence in any bitcoin exchange? has notthese years mark been transparent at all. people were waiting months to get documents verified. up, aexchange pops professional you -- new york exchange, you can expect quality products. >> who is behind mt. gox? >> a french guy who lives in japan. exchange. first it started in 2010. he had first mover advantage. if you wanted to do large trades you had to go there. those days are over. >> what are the biggest challenges bitcoin faces? adoption and regulatory approval, getting banks on board. what about all those people who have not gotten their money back and probably won't? >> it's the free market, it's early. this shows you there are better ways to store your bitcoin. i had not traded on mt. gox for years. you can use a product like piper wallet and store the bitcoins on paper so they can't be hacked. only trust someone with your keys

was there some skepticism about mt. gox to begin with? >> there is no shortage of outrage among no question about that. the social media channels, the e-mail absolutely exploding this morning as news of the final bankruptcy came. on the other hand, there are , one example of a business not doing business with mt. gox since last year. their phrase was, "since they became a roach motel coco -- a roach motel." they had trouble getting bitcoin out of the exchange. there were some who stop doing business with mt. gox as much as a year ago. the problem is there was always this price discrepancy where bitcoin was worth more at mt. gox than other exchanges. people were tended to pull this arbitrage. i talked to a guy of fairly modest means trying to arbitrage the difference, and he lost them. >> what does this mean for bitcoins future? we have all of these negative headlines coming out on a weekly basis. and if there is one thing a currency needs to be a it is secure. what does news like this do to the future of bitcoin? think there's any questio

people are falling into the world who really the world pole so they haven't read the exchange mt gox faces whirlpool of death as prices drop to lowest point in six months and the latest chapter in the continuing story of mt cox the troubled between exchanges further spiral down the plughole as it released another statement today citing security issues at its tokyo office as the reason withdrawal capability hasn't been returned so you know when they announce this headline is a few days old the big price at mt gox went to below one hundred dollars now many people on you tube were surely king. as well of course on the other exchanges it was always above six hundred around six hundred dollars so you can either look at it as a shriek that big queen itself is crashing or as this tweet from jim rickards who is an expert in markets and finance and debt and debt restructuring and bankruptcies if big coin two hundred dollars at mt gox and five hundred eighty dollars at coin desk it's not two different prices market saying sixty five percent chance gox fails well of course going down is not an

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david: our pleasure. >> here is my stance what happened with mt. gox? the fact it was a private company that was not managed properly. and that has resulted in a great loss for the users. david: now the 750,000 bitcoins that have apparently disappeared, do you have any information about that? >> i do not and i'm, reading the same media reports you're reading from regarding that. what they're saying, there was a issue on their end which led to that. i know they're throwing around things like about it coin protocols and -- issue and things like that but there is no evidence or proof that is actually what occurred with their system. the -- systems were something they chose to take measures to ensure it would not be a problem. david: you see the pictures, on the screen, bret. we show photos of bitcoin. those pictures don't exist. there is no physical bitcoin. that leads me to the question about your business. how do you assure the existence of something that doesn't really exist? >> what we have with falcon global a agreement based with a company out of the

. >> a volcanic reaction has killed 3,000 an ash and debris spewed from mt kelud, forcing hundreds of thousands to flee their home. >> for the 200,000 people living close to mt kelud, there was no choice. gravel and ash fell around. people scrambled to get out. many panicked. >> translation: we are going to a camp. we need to be evacuated. >> 1.5 hours after authorities raised the alert level, mt kelud erupted, and volcanic material was spewed as far as 17km away. people have been told to leave their homes, some couldn't get out in time and were admitted to hospitals, after being hit by volcanic debris. volcanic ash darkened the sky. three international airports were closed, causing disruptions for millions of travellers. >> mt kelud erupted in 1990, killing 34, and back in 1999, more than 5,000 were killed. there were no deaths in 2007, because authorities ordered a successful evacuation. another major eruption, another volcano. indonesia is taking the brunt of natural disasters, warning that systems had improved and authorities better prepared. the lives of hundreds of thousands aff

looking live at our mt. tam cam. the rain has not let up but the storm is moving across the bay areament thank you for joining us. we have live team coverage of the storm, but let's goo live to abc7 news meteorologist leigh glaser who is on the roof with a live look at live doppler 7hd. >> you're exactly right. the whole moisture field shifted from the north bay, where it's been pounding them, now it's starting to move to the east and south bay locations, as we forecasted, this time yesterday. you can see from the trajectory here the rain is easing up in the north bay, starting to increase down toward san jose, the summit there, and you can see some of the dark greens. that area right there moving through the sunnyvale area. cupertino, milpitas picking up moisture. just in the last couple of hours, it there is, san jose, with some moderate rain. they were not quite sure if it was ever going to get there but it did. i have a flood advisory to pass along to you, flash food watch for the north bay until 9:00. there's a

mt. exchange went dark overnight. thieves may have made off with millions. we will talk about that later. and from the nsa prison program to facebook's acquisition of story of but our lead the day, caroline hyde sat down today in chen barcelona. they talked about the value of blackberry's messaging service in light of the whatsapp acquisition. cory johnson is hereto well. one of their biggest assets. >> i was surprised when i started to do more research on whatsapp. m ist of people said bb dominant. u.s., butnot in the wherea strong service people want that business. it is an asset to blackberry. >> in general messaging is such a basic need, it's was interesting talking to allison rosenthal the acid -- allison rosenthal. in users.aw a spike people want it when they want it. >> what is going to happen, we are going to move away from the carriers for texting, whatever you want to collect, to other applications, over the top. it is very interesting but it does not mean the dollars are going

mt. gox has applied for bankruptcy. ♪ >> today mt. gox, the world's largest former bitcoin exchange file for bankruptcy in japan. lost 750,000 bitcoins belonging to its customers and 100,000 of its own bitcoins. trackingter has been the bitcoin saga for a while now. my favorite part of this is mt. gox saying that the company believes there's a high possibility that bitcoins were stolen. yeah. if they weren't stolen, where could they -- it reads sort of like a comedy of errors, they just disappeared. >> it reads a bit like a punchdrunk boxer sort of shocked at what happened. they don't seem to know precisely. it will take a lot of smart techies, a good amount of time to figure it out. there's probably some cash gone to. >> if you still bitcoin, what do you do with it? t can spend it and if you get this amount of bitcoin turning up somewhere, there is so little of it, wouldn't that be obvious? >> the beauty of this crime, if we can call it that, is that it was done over a long period of time, possibly years. so it may already be spent.

this is her first trip to mt. hood. and just before the climb that morning, she has an uneasy feeling, admitting to her boyfriend, jeremiah, she's nervous. >> jeremiah and i promised each other that no one would die on this trip. >> it was a joke, of course. but then selena and jeremiah, both paramedics, are attempting the summit, with experienced climbers, six of them paramedics and firemen. so they set out about 4:00 a.m. on a perfect spring morning. and by can a.m., their group is nearing the summit. >> it was great. i had a great rhythm going. i was excited. it was gorgeous up there. i was thinking at the summit, i couldn't imagine what i was going to be able to see from up there. >> just before the push to the top selena and the others are standing on a spiny ridge just above this menacing crevasse known as the bertram. >> when i got up there and looked down, i was surprised at how big it was. >> just as selena and her group approaches the imposing crevasse, her group and others are enjoying a view. >> it was cryst

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as we made our way across the east bay we stopped at mt. mt. diablo where rain below is snow up high. i found heavy flakes making their way to the ground and several people using the opportunity to have a little fun. >> we don't get to see snow, so it's cool to experience something like this. >> my mom lives in chicago. >> so, to prove to mom and everyone at home how thick the snow really was, i snapped this selfie in downtown redwood city, the accessory of the day, umbrellas. a steady drizzle means everyone stays covered and moves quickly. >> investigators say nurses at san francisco general hospital and a sheriff's deputy share the blame in the death of a woman found in the hospital stairwell last fall. federal investigators say nurse failed to act on a doctor's order that lip spalding bewitched around the clock. she vanished from her word. they also concluded a sheriff's deputy was told to search the stairwell for spalding but he understood it as something he could do if he had free time. her body was found 17 days later. >> the chp reports

>> no rain here but we'll show you what is going on on mt. tamalpais. looking down on the folks heading to the chinese new years parade on the embarcadero in san francisco, and a lot of them are carrying the umbrellas. a good choice as the reason will be moving across the bay area overnight tonight. let's get to live doppler 7hd. most activity developing to the north, sliding south, and we have another branch of energy bringing moisture to san jose, east bay, livermore, and even out towards stockton and tracy. cloverdale, reporting a little light rain since 2:00 this afternoon. that is headed south. there is a batch of rain on 101, just south of roanoke park there. and it is heading towards the petaluma area. also picking up radar returns in the east bay from livermore, fremont, hayward, san jose, even half moon bay, and santa cruz. this stuff bill we rotating in overnight. we'll take you to the mountains and south lake tahoe has been reporting light rain today. and here's a fun fact for you. reno today, record high of 71 degrees. you see incline villag