CoinLab sues MtGox

[windtilt]

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

[Inedible]

This ought to flatten the price a little.

[btcmank]

^---^ flatten a whole lot

[Inedible]

^---^ flatten a whole lot

A lot of value was taken out from the previous collapse so there might not be as big an impact as you believe.

[omgitsmehehe]

Nice earner for CoinLab! BTW this is prolly the wrong section.

[MaxCoins]

Why on earth would Mt. Gox hand over the US (though I suppose this deal was crafted before Bitcoins took off and they didn't have the $$ to grow otherwise)?

[Inedible]

Why on earth would Mt. Gox hand over the US (though I suppose this deal was crafted before Bitcoins took off and they didn't have the $$ to grow otherwise)?

Mt. Gox had plenty of cash to grow.

There may have been legal issues coming down the pipeline that they felt a US based organisation would be better suited to deal with.

[MaxCoins]

^---^ flatten a whole lot

A lot of value was taken out from the previous collapse so there might not be as big an impact as you believe.

Agreed. this could take a long time to sort out and more exchanges will appear in the mean time. It would not be in Coinlab's interests to kill the golden goose.

[peter.baril]

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

Never thought I'd sympathize with MtGox, but from a Canadian perspective I'll support them to the hilt for cutting any ties that divert non-US bitcoin user data into the clutches of US banks.  MtGox, drop the #CoinLab betrayal now!  Can't believe two Frenchmen living in Tokyo could have been so clueless in the first place.  Concentrate instead on building a robust, Forex-like, designated market-maker function, one that earns the trust of everyone else first and the American institutional cabal last.

pb