What caused the surge in bitcoin prices at Mt Gox? Bizarrely, it was their increasing worthlessness.

[pnwmom]

That is, if you lived in the real world, where you would eventually want to have access to actual dollars.

http://www.reuters.com/article/2014/02/28/us-bitcoin-mtgox-insight-idUSBREA1R06C20140228

"Most professional users moved away from Mt. Gox months ago, leaving April 2013 or thereabouts. By June 2013, the final nail was in the coffin for U.S. users," said one of bitcoin's core developers, who requested anonymity.

This in turn caused bitcoin's prices on Mt. Gox to surge.

"What happened then is because you couldn't withdraw dollars, there became a major premium for bitcoin on Mt. Gox," said Jacob Dienelt, a maker of bitcoin paper wallets in New York.

[WhiteTara]

1. A fool and his money are soon parted. nt

[randome]

2. And another Libertarian dream is washed away in the mud.

[hr][font color="blue"][center]There is nothing you can't do if you put your mind to it.
Nothing.[/center][/font][hr]

[Rassah]

3. Actually they moved away to other exchanges...

...not out of bitcoin, since problems at MtGox were evident for a long time, and serious investors were being serious about whom they trust with their money.