📖 The ₿ible

Historical Book IV – The Trial of Mt. Gox

The Judgment of the Exchange God

4:1
Among the first and greatest of exchanges,
There was one called Mt. Gox.
At its height, it handled
Over 70% of all Bitcoin transactions on Earth.
And the people entrusted it with their coins.

4:2
Their faith was strong.
They believed 2FA was unbreakable.
Some even claimed Satoshi’s will passed through its gates.
And thus Mt. Gox was called:
“The Digital Jerusalem.”

“They traded without keys,
Trusted without trust,
And placed all security in a single server.”
— Trial of Gox 4:2

4:3
But within, the rot festered.
Security was frail.
The keeper could not tell transaction from treasury.
And the system ran on… a single Excel file.

4:4
Then came the great calamity:
February 2014.
850,000 ₿TC vanished.
The website froze.
Logins failed.
Wallets stopped responding.

4:5
The world trembled.
The media roared.
And headlines declared:

“Bitcoin is dead.”
Governments launched inquiries.
Investors protested.
And the community fell into mourning.

4:6
Their wrath turned to CEO Mark Karpelès.
He spoke with a vacant face.
But none received their coins back from his hands.

4:7
The courts opened.
The trial dragged on.
The lost ₿TC was not recovered.
Only a fraction was returned
Years later, through Civil Rehabilitation.

“That day, the illusion of centralization collapsed.
The exchange god was revealed to be false.”
— Trial of Gox 4:7

4:8
After Mt. Gox,
The people began to proclaim:

“Not your keys, not your coins.”

They pulled out cold wallets,
Etched their seeds onto paper,
Ran full nodes,
And became their own banks.

4:9
Mt. Gox fell,
But ₿itcoin did not stop.
Blocks continued every ten minutes.
And Satoshi’s design remained untouched.