Bitcoin Forum

http://gawker.com/massive-bitcoin-business-partnership-devolves-into-75-487857656

Is this true?

It looks true those papers are legit, and Mark commented

go to coinlab.com.. its official

http://coinlab.com/status (http://coinlab.com/status)

The other thread on this got moved.

https://bitcointalk.org/index.php?topic=193888.0;all

Why didn't CoinLab start their own US exchange instead of joining mtgox?

Coz they already have a huge existing customer base and it would take time and money to market a new one from scratch.

You think?   Mt Gox would drive people there with their crappy service.    A well funded US exchange would do well with just press releases of the capital behind them.

I think they have $500,000 funding. Not sure that goes very far once you've paid for your expenses like office space, staff, legal, etc.

I'm sure they had private funding too but $500K only buys you 2,000BTC at it's peak.

Now I know why someone at GOX stole my money today

I can't log in to my MtGox account.  That place sucks.

At least they only took small change from me. I'm sure others will get ripped hard.

Use this link https://mtgox.com/login

or try https://mtgox.com/trade

that works to log in and panic sell

Isn't it pretty to think so?  (Thank you, Ernest)

And yet CampBX hasn't ever taken off - they're well-funded, secure, and even do shorts and margin trading.  Why?

Mtgox is working fine for me (able to login no problem)

try to open and fund an account with them and you will know why.   NOT with BTC.   fund with USD.
then get back to me on why you think they are failing.   

Ahh.  Thanks - I haven't ever funded anything with USD, only BTC.  I'll keep it in mind.

just go to your campbx account and read how you would fund it.    and then put yourself in the shoes of someone that has read about bitcoin, believes a little and wants to invest in it.   Read the page.    Mickey mouse is being polite.    Personally, any broker that does not accept wire transfer but suggests I go to my local post office and buy a 2,000 usd money order and mail it in is really not somewhere I am going to put money.
I might as well send it to a 24 year old named roman who is not smart enough to see why a money center bank would be concerned about small amounts of money being deposited by individuals all over the world and when compliance calls this "business" it rings on the cellphone of an arrogant 24 year old.   

the next question is, will the guys behind mtgox turn up to hand over $75mill. or retire in a non extradition country

I doubt MtGox has anything like 75 million in assets.

He does hold a few hundred million in hopes and dreams though.

Idiots. So angry right now. Idiots.

Need somebody to get on here and filter the legal terms of this suit.

Can't be that easy to sue across international borders in domestic court.

A 75 million dollar lawsuit is going to do nothing other than add more instability to Bitcoin....I seriously hope this stuff is addressed at this month's conference.  This is a childish play on the part of both parties and is not in the spirit of building Bitcoin.

...and regarding MtGox

MtGox is clearly failing at their duties to protect the integrity of Bitcoin.  Last month's crash and the ensuing decline in consumer confidence falls squarely at their feet.  Yet we take it because this underfunded venture has a track record of creating (limited)fiat liquidity.  The whole market reeks of manipulation yet MtGox claims that they are large enough and well funded enough to deal with these problems.  I'm in total agreement that its high time another exchange arises to create competition.