The simple and clear plan how to resurrect Mt Gox.

What follows is a summary of where I read Mt Gox is at presently and developes a simple strategy for full recovery and beyond.
First of all I would like to say that the worst-case scenario and last case resort would be to declare Mt.Gox bankrupt and to put Mark Karpeles in a jail.
This will not return the customers funds and will not restore confidence to the bitcoin concept.
According to the leaked, but officially unconfirmed document, the balance of Mt.Gox looks like this now:

Active (Funds currently accessible by Mt.Gox right now):
-         2,000 BTC
-         22,430,000 USD (does not include frozen 10,500,000 USD)

Passive (Customers’ funds):
-         624,408 BTC
-         55,000,000 USD

The proposal is: Turn all of Mt.Gox customers into the shareholders by issuing 72,440,800 shares.

-        The user-base from mtgox.com will be converted into user-base gox.com.
-        All BTC account balances in mtgox.com will be converted into mtgoxShare account balances in gox.com by price 0.01 BTC per share.
-        All USD in mtgox.com account balances will be converted into mtgoxShare accounts balances in gox.com by price 5.5 USD per share.

It is possible to recreate and re-brand the Mt.Gox business completely (including software reengineering) using 2,000 BTC and 22,430,000 USD which Mt.Gox has now.

The recreated site http://gox.com will allow trade pairs:
-         mtgoxShare/BTC
-         USD/BTC
-         Other fiat currencies/BTC

-        All BTC trade fee will go to pay share's dividents.
-        All USD/other fiat trade fee will cover operational cost to run the business.

At the end of each week the dividends will be credited into BTC user’s accounts.

That is very simple and transparent scheme will allow each shareholder to see their profit instantly and use it weekly.

This simple and straight-forward plan will facilitate returning funds to existing customers and even bring some potential profit to them. It will allow customers to have the choice: to either sell shares at market price, which will be established immediately after gox.com goes live and withdraw it instantly, or earn dividends with the potential for capital gain recovery and, probably, have a benefit from raising shares prices.
It is obvious that with a clear, open and transparent plan there will be many investors who will deposited BTC and USD into gox.com for the opportunity to invest in one of the oldest and historically the biggest and most trusted bitcoin business institution.

The good points are:
- Mt.Gox has a well-trained AML team with lots of experience in dealing with banking and regulations.
- 22M USD is enough to recreate the business without additional investment.

I personally trust Mark Karpeles and even welcome him to stay in the position of CEO because:
- He knows the business very well
- He knows what mistakes he made and he knows how to avoid similar mistakes in future.

Naturally, the final decision regarding Mark Karpeles position would be first in the hands of the shareholders and second according to Mark’s own preferences.

Software development for gox.com should be the responsibility of someone other than the CEO because the CEO of such a complicated business cannot competently undertake the position should be independent.
22M USD is adequate to hire excellent developers to do the software.
However, software development for gox.com should be delegated to someone other than the person responsible for running a complex business such as Mt.Gox.

According to the ancient proverb: What doesn’t kill you makes you stronger.

I personally believe in a strong and bright future for gox.com.

Yes

The issue with btc-e exactly the opposite as with mtgox. It is quite easy to deposit fiat through SEPA to btc-e, but when you try to withdraw BTC which you bought on SEPA-deposited fiat, you will be said that it is on-hold for 1 month because you deposited money by SEPA.

Hi have 6 shares left on bitfunder. I expected that they will automatically converted to direct shares for my bitcoin address which I setup as ID in butfunder but they are not.
How can I claim these shares?

How can I make transaction with some public information (declaration) attached to that for to keep the information
in the blockchain and the information to be easy visible to everyone who know transaction ID, preferably but not restricted on the www.blockchain.info ?

How can I make transaction with some public information (declaration) attached to that for to keep the information
in the blockchain and the information to be easy visible to everyone who know transaction ID, preferably but not restricted on the www.blockchain.info ?

So, what the status of this activity now?

As far as I understand, last information is: that we were declined two years ago by the following reasons:

1. The currency code is not linked to any country code.
2. The currency code is considered a 'private currency' and not used for tender in any country.
3. There will be no international payments denominated in Bitcoin therefore an ISO currency code for the Bitcoin is not applicable.
4. The Institution responsible for the Bitcoin does not appear to be recognized internationally or have any official status. Neither Reuters or Bloomberg provides market data related to its use.

Since then drastic development and improvements in Bitcoin did happen.
So, answers on these reasons now:

1. It is not a problem because the same situation with gold but it has his own codes: XAU and 959.

2. Again, answer the same like for N1: gold is not used for tender in any country but it has codes.

3. There will be international payments denominated in Bitcoin.
I have an answer from regional SWIFT director of one of major international bank: he says that they would be interesting
to implement Bitcoin in SWIFT messages if it would have it's own ISO currency code.

4. In August this year Bloomberg started Bitcoin ticker with temporary code XBT in their internal terminals.

Who did submit the request and who should resubmit it now?
Probably Bitcoin Foundation?

Bump.

8 singles are sold to frelex for 3.75 BTC each.

Auction is extended for 2 minirigs.
Started price: 31 BTC each minirig.

Happy bidding.

It is netsolus.com.
I will ask how much to pay for ship to continental USA.
Hosting is paid up to 01/12/2013.
Buyer have to pay hosting fee to me from the day when it starts to mine for him until 01/12/2013.

Ok, what about that problem:

Some guy with deep pocket (government?) establish a very stable mining pool with the best
protection agaisnt ddos and with the lowest network latency possible and welcomes everybody to mine with 0% (or even negative) fee.

So, eventually he will get 51% of hashing power, will not he?
And he even do not need to exploit the problem discussed in this thread, he can just be the honest mining pool.

I am buying 5 direct AsicMiner Shares

PM me your proposals.

The leading bid is 8 singles@3,75 each by frelex

Thank you very much!

So, it is one more Bitcoin's myth: "all coins are completely traceable as far as all transactions are in public ledger"

So, in that case how is concept of "colored coins" is going to work?

Let's imagine this situation: two transactions:

T1 has three inputs:
    T1.I1
    T1.I2
    T1.I3
and one output:
    T1.O1

T2 has one input:
    T2.I1 (sources from T1.O1)
and two outputs:
    T2.O1
    T2.O2

The question is:
Is that possible to know where coins for T2.O1 come from?
Is that from T1.I1 or T1.I1 and T1.I3, or something else, may be T1.I2 only?

As far as I understand it is impossible to know because all T1 inputs mixed in T1.O1.
Am I correct?

PM bid from  junior member:   jonst

8 @3.5 BTC each

You are right. On BTCGuild on PPNLS it is about 2.1 per day +-10%.

BTC only as far as it easy to transfer.

According the host company web-site: www.netsolus.com thay are in Kansas City.

This is an auction for 2 Butterflylabs Mini-Rigs, hashing stable at +/- 490 GH/s and 8 singles hashing stable at +/- 470 GH/s combined

They never overclocked/changed firmware after they left factory, so you can easily tune it for more speed.

Info:

- hosted in the USA
- monthly hosting fee: $650 per Mini-Rig, $650 for 8 singles altogether
- hosting fee can be paid in bitcoins
- the settings will be changed to your mining pool account instantly after payment
- the ownership will be changed to you instantly after payment, so you can pickup it from the hosting company whenever you want
- any kind of ownership proofs will be sent through PM at buyers request
- full escrow is possible with JohnK., to be organized and paid by the buyer
- singles can be bid only in one lot for 8.
- auction ends on 5-th November at 15:00 UTC

- minimum increment per bid: 1 BTC
- starting bid 25btc for minirig, 24 btc for 8 singles
- buy now price: 50btc for minirig, 48 btc for 8 singles

How to bid?

Post your bids in this thread. Prices must be stated in BTC per minirig or 8 singles. You must state the max number of minirigs you want (eg: 2@35).

So if someone bids for 2 minirigs @ 40 BTC and this is the highest bid, then he'll get all 2 minirigs.

Happy bidding.