Save Gox

[QuestionAuthority]

Hi Bruno, I haven't seen a good old fashioned wall of text in a week. How was your vacation?

[joehal]

It seems to me like this whole thing, as it relates to people who had fiat or coins in gox, comes down to:

Choice #1:
Support this and get 23% of what you had, but not be able to move it out of gox for 1 year.
You can get paid back for the rest of the loss over time if this exchange does well.

Choice #2:
Don't support this, liquidation will happen.  You will get (at current exchange rates) about 27.5% of what you had.
Lawyers fees and any other debts gox had that we don't' know about could reduce the 27.5% number..

Or the choice nr 3, the option which most here will say it will happen :
 Mark Karpeles will pay himself most of the money because corruption and bla bla, the lawyers will get most of the money because bla bla... , the liquidator will sell all 200k btc with 10 $ per btc to an acquaintance of his because corruption bla bla... and of course the users will get zero, or maybe some pennies.  So... what to choose ?

[OgNasty]

This save gox campaign was a joke.  Offering 1 BTC?  I don't know who is more foolish, the people trying to make a name for themselves with this ridiculous offer, or the idiots who believed this scenario was possible...

[Phinnaeus Gage]

This save gox campaign was a joke.  Offering 1 BTC?  I don't know who is more foolish, the people trying to make a name for themselves with this ridiculous offer, or the idiots who believed this scenario was possible...

William Quigley, who worked at Disney the same time Brock Peirce did, explains the 1 BTC offer here: https://www.youtube.com/watch?v=4k9UCRbGD4Y

[JonHolmquist]

http://www.coindesk.com/investor-group-optimistic-fight-mt-gox-liquidation/
This was in the media again today with more details of the proposed takeover.

It seems clear that the only way creditors will receive more than the 200k BTC is if the company is generating revenue again or if the assets are sold.  Their considerably large customer database of already AML verified users is worth something to another company if they have the banking licenses to use it effectively.

However the way this investor group proposes to restart Gox seems like a terrible deal for the creditors.

The document suggests that roughly $8m will be needed to fund the rehabilitation, drawing from cash held by Mt. Gox.

Seriously?  The new investors are taking ownership stake and risking none of their own skin entirely at the expense of the creditors?  That is quite absurd.  Do people know what they are signing up for?

This might make sense if the new investors are putting in new money to the tune of $10's of millions.  The currently proposed deal is only upside, which is hardly appropriate.

That was actually the old proposal. I've been told that we will not be dipping into any customer balances.

[Phinnaeus Gage]

http://www.coindesk.com/investor-group-optimistic-fight-mt-gox-liquidation/
This was in the media again today with more details of the proposed takeover.

It seems clear that the only way creditors will receive more than the 200k BTC is if the company is generating revenue again or if the assets are sold.  Their considerably large customer database of already AML verified users is worth something to another company if they have the banking licenses to use it effectively.

However the way this investor group proposes to restart Gox seems like a terrible deal for the creditors.

The document suggests that roughly $8m will be needed to fund the rehabilitation, drawing from cash held by Mt. Gox.

Seriously?  The new investors are taking ownership stake and risking none of their own skin entirely at the expense of the creditors?  That is quite absurd.  Do people know what they are signing up for?

This might make sense if the new investors are putting in new money to the tune of $10's of millions.  The currently proposed deal is only upside, which is hardly appropriate.

That was actually the old proposal. I've been told that we will not be dipping into any customer balances.

Hey, bud. Would you be kind as to clarify the "we" in the above?

[JonHolmquist]

http://www.coindesk.com/investor-group-optimistic-fight-mt-gox-liquidation/
This was in the media again today with more details of the proposed takeover.

It seems clear that the only way creditors will receive more than the 200k BTC is if the company is generating revenue again or if the assets are sold.  Their considerably large customer database of already AML verified users is worth something to another company if they have the banking licenses to use it effectively.

However the way this investor group proposes to restart Gox seems like a terrible deal for the creditors.

The document suggests that roughly $8m will be needed to fund the rehabilitation, drawing from cash held by Mt. Gox.

Seriously?  The new investors are taking ownership stake and risking none of their own skin entirely at the expense of the creditors?  That is quite absurd.  Do people know what they are signing up for?

This might make sense if the new investors are putting in new money to the tune of $10's of millions.  The currently proposed deal is only upside, which is hardly appropriate.

That was actually the old proposal. I've been told that we will not be dipping into any customer balances.

Hey, bud. Would you be kind as to clarify the "we" in the above?

The Sandlot folks.

Also hi! It has been awhile

[joehal]

This save gox campaign was a joke.  Offering 1 BTC?  I don't know who is more foolish, the people trying to make a name for themselves with this ridiculous offer, or the idiots who believed this scenario was possible...

Why do you care ? Since people like Jr65 say the clients will get zero coins anyway. So where's the risk ? It can't be any worse than zero, no ? But at least there's a chance with the Save Gox campaign.

It seems the clients have to choose between the liquidator selling all the coins with 10 $ per coin and the clients getting zero / and the chance that some investors restore Gox and maybe the clients will get their money back, 20% now and the rest in 5 years.

[OgNasty]

This save gox campaign was a joke.  Offering 1 BTC?  I don't know who is more foolish, the people trying to make a name for themselves with this ridiculous offer, or the idiots who believed this scenario was possible...

Why do you care ?

I've been a mtgox customer since 2011.  I can't say I really do care, as I have already chalked up funds left there as a total loss.  I'm just astounded by the arrogance of some guy who actually believed he could purchase the company for 1 BTC because he has deep pockets...  It was a shameful power grab and those in the media and these forums who pretended like this was even a possibility should be embarrassed that their greed and gullibility has been made so public.

[El Cabron]

I've been a mtgox customer since 2011.  I can't say I really do care, as I have already chalked up funds left there as a total loss.  I'm just astounded by the arrogance of some guy who actually believed he could purchase the company for 1 BTC because he has deep pockets...  It was a shameful power grab and those in the media and these forums who pretended like this was even a possibility should be embarrassed that their greed and gullibility has been made so public.

Lol, the ignorance of some 

I'm not saying it is going to work, but there is much more going on than you know about. You are not needed to be in the loop and clearly no one bothered to inform you other than what people in this thread have spent their good time doing. You can bitch and cry all you want but the big boys are hard at work. Keep operating your two bit illegal operation and let us do our thing in an open and legal way.

For the people who do want more info expect more to be made public next week.

[OhShei8e]

You can bitch and cry all you want but the big boys are hard at work.

I'm also in this boat but I'm also skeptical. Why continue to operate the Exchange?
The largest revenue will be the redevelopment of the embezzled Bitcoins. And only for that purpose Gox has to stay alive for a while.
After this Gox can be buried. But before that Karples or his successor(s) have to explain where over half a million Bitcoins ended up or they have to hand out all the data to the community.

Without this Bitcoin is dead overall for me. It remains then in a very strange state and I do not want have anything to do with such racketeering.
For the technical little gizmos that amuse me so I can also use the testnet.

[OgNasty]

I've been a mtgox customer since 2011.  I can't say I really do care, as I have already chalked up funds left there as a total loss.  I'm just astounded by the arrogance of some guy who actually believed he could purchase the company for 1 BTC because he has deep pockets...  It was a shameful power grab and those in the media and these forums who pretended like this was even a possibility should be embarrassed that their greed and gullibility has been made so public.

Lol, the ignorance of some 

I'm not saying it is going to work, but there is much more going on than you know about. You are not needed to be in the loop and clearly no one bothered to inform you other than what people in this thread have spent their good time doing. You can bitch and cry all you want but the big boys are hard at work. Keep operating your two bit illegal operation and let us do our thing in an open and legal way.

For the people who do want more info expect more to be made public next week.

Goat, you are not a part of this.  You keep pretending that you have something to offer the Bitcoin community, but you are scum and a scammer.  You are trying to make yourself seem important by posting this stuff along with other stuff you have nothing to do with, like any legitimate person would do business with you.  Keep it real.  You are a douchebag who made some money scamming people by pretending to run businesses that were nothing more than pass-thrus for pirate's operation before Bitcoin rose in value.  You have nothing to add to the community and you pretending that you have any part of any pretend buyout is as shameful as you posting links to other crypto forums hoping to poach members from here. 

In short.  Goat, you are a worthless leech to the Bitcoin community and you have never offered anything worthy of a second look.  You are pathetic and nobody likes or respects you.

[El Cabron]

I'm also in this boat but I'm also skeptical. Why continue to operate the Exchange?

I am very skeptical as well but I have a direct line to John Betts and he has told me about his plan in confidence. I can't give details but I know more info is coming out soon.

Even knowing what I know I'm highly skeptical however option A. letting Japan do it, is not exactly great either.

Honestly my main goal in supporting this is not getting back the coins but wanting so see Mark and the others either go to jail or at least get their assets taken away. Would not be cool if Mark get to keep his $50M USD in fiat. It seems they will try to go after them as sort of good PR for the public. Their plan could work, but I at this time think getting the Japanese Govt to go along with it, as a long shot at this point. Still I'm interested and willing to help get the block of voters I work with to support for this if it can be supported.

We will see in time.


@OgNasty Your bitching and crying is now off topic, lol.  Also your personal threat of violence you sent to me in PM was classic you. Your lies and threats do not hurt me. If this is the only way you can now attack this effort fine, but at least be honest about what you are doing. Other people are trying to do better things here in the BTC world, you are just trying to sabotage good work again like you have since 2011. Grow up little boy. Having part of the discussion on this forum might have been a mistake because of people like you just want to like and troll because you lack anything better to do. There was no reason to go off topic other than to try and make your ego feel better. Hope it worked for you...



I'm going to lock this thread, I'm done with low life trolls. If anyone who can be respectful want's to talk about this somewhere else PM me and I'll keep you in the loop.