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20/02/2014

ICBIT.se statement regarding situation around MtGox.

MtGox exchange will not be included in settlement price calculation for BUG4 and BUH4 contracts unless their BTC deposit/withdrawal problems will be completely solved before 07 Mar 2014. We understand that not everyone will like this decision, but we have no choice because MtGox is clearly detached from bitcoin economy AND, judging by their latest press-release, they can't provide any details about time required to enable normal operations once again. Our settlement rule for BUG4 clearly says "operating exchange", and MtGox doesn't meet that requirement at this moment. As far as we know, many other bitcoin services already excluded MtGox from their price index.
Usually we would refer to Bitcoincharts for this type of settlement, but there is a strong evidence that Bitcoincharts service is owned by or related to MtGox, and thus cannot be used as a point of reference.

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