[POLL] Which plan do you prefer for the GOXcase?

[thresher]

So okcoin is crushing in this poll with all the other stuff going on 
...and we wonder why people don't have faith in bitcoin

[renfr]

I'd rather hand the business to anarchystar than to this car load of crooks that are savegox.
Savegox looks extremely shady and very suspicious, and what Phinnaeus gage revealed some days ago about Brock Pierce (AKA Brock Rector) is extremely frightening.

OkCoin is by far the best plan we have, however we didn't hear anything from them...

[samson]

The information about the savegox information is so wrong it's just a complete fail.

You'll get your 16.5% percent in bitcoins and after there will be some kind of equity swap.

According to the offer people will get their share of the 202k Bitcoins and 16.5% of equity in the US parent corporation which would control MtGox.

The idea behind this is that the US corporation (Sunlot) would expand around the world by opening up more exchanges and this 16.5% of equity will be worth a lot more than the entire 49% of MtGox.

How that would work out remains to be seen. Sunlot could open further exchanges under a different company and there would be nothing anyone could do about it.

[clownius]

Must say the bias in the OP was amazing.  No wonder the votes gone the way it did.

As one of the goxxed (who spent 4 months trying to get his money out before gox folded) i have been paying attention.

Anarchystar (Mtgoxrecovery?)
Liquidation is final and we are going to take a massive haircut.  If we see 10% by the time everyone gets their cut i would be amazed. 0-5% is more likely.  So mtgoxrevovery seems like a horrible deal.  They did manage to get Mark out of the picture so we owe them massive gratitude. 
The main people now supporting this plan are people who just want gox gone at all costs.  Generally as long as its not their cost.

Savegox
These guys plan a rebuild.  Existing BTC (minus some for expenses) will be returned to users on a % basis.  The remaining owing will be funded over time out of a portion of trading fees.  The aim being to eventually return all BTC.  Also thrown in will be a 16.5% of ownership to the users who got goxxed.  They plan to expand gox and have all new software (they claim its coded and good to go) and ownership.  Looking to investigate the location of the missing BTC and willing to pay a 10% finders fee on anything recovered to the finders.
Only investing a token 1 BTC though for 83.5% of the company.
Supported by those who believe gox without Mark could and should make money in the long term.  Also those who will be very happy to see approx 20% of their coin returned almost immediately.  More than they could reasonable expect under liquidation.

Im amongst those interested in the savegox option.

OkCoin
I know very little about the OkCoin plan.  Any info appreciated.
They have experience which is good but probably are in this for themselves alone.
According to what you wrote they plan similar to savegox but only plan to return half the BTC to users.  This seems to be an absolute zero risk option for Okpay if thats the case because they can fold the company a day later and be up 100k BTC for zero effort....
Without more info im staying well away from such a plan.

[samson]

OkCoin
I know very little about the OkCoin plan.  Any info appreciated.
They have experience which is good but probably are in this for themselves alone.
According to what you wrote they plan similar to savegox but only plan to return half the BTC to users.  This seems to be an absolute zero risk option for Okpay if thats the case because they can fold the company a day later and be up 100k BTC for zero effort....
Without more info im staying well away from such a plan.

I read that the OKCoin plan was to return all 202k BTC immediately, exactly the same as the Sunlot plan. The only difference being the equity assigned to MtGox customers.

The equity offered by OKCoin would be 49% of MtGox as opposed to 16.5% of Sunlot, this is how I understand it to be right now.

Further details have yet to emerge.

[clownius]

OkCoin
I know very little about the OkCoin plan.  Any info appreciated.
They have experience which is good but probably are in this for themselves alone.
According to what you wrote they plan similar to savegox but only plan to return half the BTC to users.  This seems to be an absolute zero risk option for Okpay if thats the case because they can fold the company a day later and be up 100k BTC for zero effort....
Without more info im staying well away from such a plan.

I read that the OKCoin plan was to return all 202k BTC immediately, exactly the same as the Sunlot plan. The only difference being the equity assigned to MtGox customers.

The equity offered by OKCoin would be 49% of MtGox as opposed to 16.5% of Sunlot, this is how I understand it to be right now.

Further details have yet to emerge.

Sounds interesting if your correct.  Would love some links on this. 

I would throw my meagre 10BTC of support behind such a plan.

[samson]

Most of my information comes from IRC and the live video chat in which Sunlot were participating

They did confirm that after an audit any coins (the 202k BTC) would be distributed to accounts and could be withdrawn immediately.

There is a link here with lots of information : http://www.savegox.com/?page_id=35

The main point of contension appears to be that the initial Sunlot plan was designed to screw over the MtGox account holders but they have now 'changed their tune' as it backfired on them when people voiced their disdain for this plan.

From IRC I have read that OKCoin are also almost ready to make public their plan, they have been saying this for about a week now though.

[reb0rn21]

Has nobody else noticed that Savegox does not risk any of their own money?  Their proposal instead would risk $10M of the creditor's cash.  They take 83.5% equity at zero risk to themselves.  That is quite inappropriate.

Agree, they think they are first, also insiders also they hope no one else is interested in taking on new exchange from mtgox name/creditors...

I think and hope there is more parties not just Okcoin so the real offer can be made

Fro my point of view even empty gox name is worth some and 500k + user base a lot more!

[yapusi]

as a Chinese, I think Okcoin is not believable.

I agree with "thresher". I definitely do not want okcoin, or any company not based in the US to take over.
Lets not get our recovered btc stolen twice.

[clownius]

as a Chinese, I think Okcoin is not believable.

I agree with "thresher". I definitely do not want okcoin, or any company not based in the US to take over.
Lets not get our recovered btc stolen twice.

Our Bitcoin is already gone.  Anything recovered at all would be a miracle at this point.

As for a US based company taking over that scares me more than a Chinese one by a considerable margin.

The Chinese may spy on you and/or steal your coin.
The US will spy on everyone and will probably seize the entire exchange the second they can prove a drug dealer (or worse a copyright infringer) used the exchange.  Their asset seizure laws are insane and collateral damage is fun to their government.....

The US government is not here to save us or help us.  Just screw us.  Im stumped as to why anyone wants anything BTC anywhere within their reach at all.

[neotrino]

Q: Do you actually have 70% of creditors supporting your plan?

We have had productive discussions with blocks that represent 70% of the creditors. That includes the OKCoin group, which wrote a press release to support our efforts to stop liquidation.

http://www.savegox.com/?page_id=35

Why Sunlot (savegox) sais that OKCoin is with them?

[doolittle]

What are the sources of OKCoin being interested?  I have used google to find out more. However the only source I have found was a discussion of rumours on reddit.

[doolittle]

Another question. Do you guys have a link to the agreement between the litigation lawyers and the Savegox guys?

And some more questions:

• From the perspective of a creditor does it make sense to join the class action? What should be the benefit?
• In an earlier article of coindesk http://www.coindesk.com/investor-group-offers-buy-mt-gox-one-bitcoin/ it said: 2The investor group pledged to set aside 50% of transaction fees to pay back creditors over time." Is this off the table?
• Where does all the money for the investments come from? Will there be further dilution of the 16.5%? Will the investors just take the cash they find at Mt.Gox?
• What do the investors bring to the table?