MtGox withdrawal delays [Gathering]

[Lohoris]

Was it really so that according to the TOS of Mt.Gox, the instant I deposit my BTC to them, it becomes their "assets" that they "owe" me, instead of "customer funds" that they must "safeguard" for me?

If this question is resolved in the only sane manner that it can be ("customer funds" unless EXPLICITLY otherwise stated), it also becomes clear why the contents of the safety deposit boxes are not auctioned when a bank becomes bankrupt, and your car is not sold if you were having it painted when the painting shop goes broke. Instead, you property is returned.

Anyone?

A very interesting point, I would like to know the answer too.

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[rpietila]

From reddit:

If they traded with customer money they violated the ToS and it could be fraud. "MT. GOX'S OBLIGATIONS

...
6. it will hold all monetary sums and all Bitcoins deposited by each Member in its Account, in that Member's name as registered in their Account details, and on such Member's behalf.

LIABILITY

[...] Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded. " Anybody can post the full ToS?

[–]chris45215 2pistettä 1kuukausi sitten

Excellent! That quote seems to imply that customer funds are still the property of customers, which is quite important in the case of bankruptcy. If you think of it like a company that manages storage units, the customer items in each unit remain their property, and creditors have no right to claim those stored items if the company goes bankrupt. Also, it should be noted that Mt Gox could be a customer of itself and thus it's TOS would apply to itself. However, it would depend on the company to enforce the TOS or press charges in case of violation, which it obviously won't do.

[–]andypagonthemove 2pistettä 1kuukausi sitten

Maybe this is why they haven't included the BTC in their bankruptcy filing.

Seems that the key players have sucked the bankrupt company dry and aim to profit more from the money that is now in the other, personal, pocket, even after subtracting the court sentence.

[Nagle]

Was it really so that according to the TOS of Mt.Gox, the instant I deposit my BTC to them, it becomes their "assets" that they "owe" me, instead of "customer funds" that they must "safeguard" for me?

That's a very important question. Is anyone making that argument in the Tokyo District Court?

[rpietila]

According to the TOS in reddit (last page) it is really so.

[Nagle]

According to the TOS in reddit (last page) it is really so.

That's really important. Because 1) it affects the order of creditors, and 2) it affects who goes to jail. But someone has to make that argument in court.

Hopefully the people behind "http://blog.mtgoxrecovery.com/" are doing what they say they're doing. So far, they seem to be the only creditors who actually made a filing with the Tokyo District Court.

[phelix]

https://bitcointalk.org/index.php?topic=590138 What happened at Gox on 2013-05-13 - (BTC Xfer Diagrams)

[bitcoinvest]

some news on the case: http://www.coindesk.com/mt-gox-settlement-decision-delayed-trustee-seeks-us-bankruptcy-approval/

[ilpirata79]

some news on the case: http://www.coindesk.com/mt-gox-settlement-decision-delayed-trustee-seeks-us-bankruptcy-approval/

Could someone please recap what's going on with mtgox and what are we mtgox customers supposed to do to get something back?

Thanks a lot.
ilpirata79

[cafminer1]

No.

You have to read. :-)

[Phinnaeus Gage]

No.

You have to read. :-)

Dude, at least supply a pic.

[bitcoinvest]

does anyone have any news on Savegox.com case?

did they got approval from us court of the plan to save MtGox.com?


and there it is: http://www.coindesk.com/mt-gox-settlement-proposal-granted-key-preliminary-approval/

some good news for all of us we lost our btc in MtGox.com there is a big light

[freedombit]

does anyone have any news on Savegox.com case?

did they got approval from us court of the plan to save MtGox.com?


and there it is: http://www.coindesk.com/mt-gox-settlement-proposal-granted-key-preliminary-approval/

some good news for all of us we lost our btc in MtGox.com there is a big light

Wasn't this already reported a few days ago? Why is CoinDesk just now reporting?

[Phinnaeus Gage]

does anyone have any news on Savegox.com case?

did they got approval from us court of the plan to save MtGox.com?


and there it is: http://www.coindesk.com/mt-gox-settlement-proposal-granted-key-preliminary-approval/

some good news for all of us we lost our btc in MtGox.com there is a big light

Wasn't this already reported a few days ago? Why is CoinDesk just now reporting?

Obviously, it's an SEO tactic, given that CoinDesk.com, registered on May 4, 2008, is own by Shakil Khan, formally a moderator for the Google advertising forum for 2 years at Webmasterworld.

http://web.archive.org/web/20070228153657/http://www.chinawhite.net/archives/2005/09/

September 16, 2005

Google to acquire BAIDU?

So for the last week or so, everyday I get an email asking me what I think of "Google buying Baidu" ?

So here's my take

The time I have spent in China in 2005 and having talked to many Business Folk, End Users, Advertisers, Taxi Drivers and Part Time Girlfriends has led me to 1 thing.

Baidu run the show!

I will try and explain it in simple terms and hope no one is offended by the example I am going to use.

Taking on Baidu or Alibaba in China for Google and Yahoo, is very similar to me wanting to sell Books to Schools in the USA when my competitor happens to be Minister of Education, basically it ain't gonna happen.

In CHINA it's all about who you know and your relationships with these people, and this (in my opinion) can not be bought with $$$s.

Yahoo have obviously realised this and hence decided the best route is getting the local guys to run their business for them whilst taking ashare of the bigger Chinese Mooncake.

Google on the other hand are a kick axx company with some very very smart people and an amazing brand, however China is 1 place where all this can mean very little or very much dependant on the mood of the people, and at the moment it's all about Baidu.

An outright buy or a much bigger partnership would make total sense, as ultimately it's about the advertising $, and this Google has lots of when you look at their advertiser base, Baidu has the user base but very little of the foreign $$$s are coming through, although their marketing activity is being ramped up since the IPO.

For a Western company trying to advertise on BAIDU is similar to me asking for "Toasted Cheese Sandwich" and being handed "Cheese, Bread and a Toaster with Chinese instructions"

As a sidenote, there may be all sorts of political and financial wall street type reasons for the above to take OR not take place, however there are many more qualified folk to share that kind of news with you.

I am just sharing it from my point of view, having been 1 of Google's earliest paid advertisers in 2001, having been involved at Webmasterworld as moderator for the Google advertising forum for 2 years, Having spent millions of $s gloablly with Google, and now sitting here in Shanghai looking at the Bigger picture and being asked questions by Advertisers on how they should spend their search $s in China.

[ilpirata79]

No.

You have to read. :-)

Dude, at least supply a pic.

This guy looks like Rocco Siffreddi... was that done on purpose? 

Best regards,
ilpirata79

[freedombit]

does anyone have any news on Savegox.com case?

did they got approval from us court of the plan to save MtGox.com?


and there it is: http://www.coindesk.com/mt-gox-settlement-proposal-granted-key-preliminary-approval/

some good news for all of us we lost our btc in MtGox.com there is a big light

Wasn't this already reported a few days ago? Why is CoinDesk just now reporting?

Obviously, it's an SEO tactic, given that CoinDesk.com, registered on May 4, 2008, is own by Shakil Khan, formally a moderator for the Google advertising forum for 2 years at Webmasterworld.

http://web.archive.org/web/20070228153657/http://www.chinawhite.net/archives/2005/09/

September 16, 2005


I am just sharing it from my point of view, having been 1 of Google's earliest paid advertisers in 2001, having been involved at Webmasterworld as moderator for the Google advertising forum for 2 years, Having spent millions of $s gloablly with Google, and now sitting here in Shanghai looking at the Bigger picture and being asked questions by Advertisers on how they should spend their search $s in China.

Thanks Phinnaeus. Impeccable timing. :-)

[bitcoinvest]

anyone with news from mtgox.com savegox.com ?

[flound1129]

Civil rehabilitation would have involved re-using the code that lead to our coins being stolen.

And people are actually taking this seriously?

[bitcoinvest]

So what is the current status on SEPA withdraw delays from MtGox? Does it currently take long to withdraw EUR from MtGox using SEPA? Is doing arbitrage between MtGox and Bitstamp and make a buck on the price premium a good idea? Do you know, Sturles?

What's this??? Since the MtGox is not yet back on line how do you speak for SEPA withdrawals? Is there any news that i don't know?

[Gotgoxed]

new announcement on gox!

https://www.mtgox.com/img/pdf/20140521_announce.pdf

[bitcoinvest]

new announcement on gox!

https://www.mtgox.com/img/pdf/20140521_announce.pdf

yes thank you for the info i saw it also couple  of hours ago.... i want to mention at the last lines this:

" It is possible that, on investigation of your claims as provided in the Bankruptcy Act of Japan, your claims may not be approved. "

WHAT THE F@@CK is that? Means that ok i have for example 200 BTC and by the time it's time to get something back if they decide i will take nothing???