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Author Topic: Can MtGox Return?  (Read 544 times)
bitjoin
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April 27, 2017, 11:49:22 AM
 #1

 
Been reading this topic here: https://www.reddit.com/r/mtgoxinsolvency/comments/67uezb/mtgox_currently_has_around_70_of_the_value_of_the/

Maybe they could do a finex style token for the remaining portion of the claims and allow investment into the platform.  Since they fixed everyones btc at like $400 or so and the bitcoin value has gone up, they owe less money % wise to everyone right now.

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April 27, 2017, 12:17:43 PM
 #2


Been reading this topic here: https://www.reddit.com/r/mtgoxinsolvency/comments/67uezb/mtgox_currently_has_around_70_of_the_value_of_the/

Maybe they could do a finex style token for the remaining portion of the claims and allow investment into the platform.  Since they fixed everyones btc at like $400 or so and the bitcoin value has gone up, they owe less money % wise to everyone right now.

this could be a great opportunity to restart Exchange business...
but what about trust in MTGox services???
I think the lost of this value, is priceless

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April 27, 2017, 12:28:00 PM
 #3

Many new people have arrived since it went down. There'll only be dim brand awareness. Those who remember probably won't be too keen, though obviously it'll have to be whiter than white.

And I wonder how many of those 202,000 coins have been eaten up by expenses so far. It's all in the hands of the Japanese law. I can't imagine it's very flexible or entrepreneurial.

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April 27, 2017, 12:28:47 PM
 #4


Been reading this topic here: https://www.reddit.com/r/mtgoxinsolvency/comments/67uezb/mtgox_currently_has_around_70_of_the_value_of_the/

Maybe they could do a finex style token for the remaining portion of the claims and allow investment into the platform.  Since they fixed everyones btc at like $400 or so and the bitcoin value has gone up, they owe less money % wise to everyone right now.

this could be a great opportunity to restart Exchange business...
but what about trust in MTGox services???
I think the lost of this value, is priceless

I dont think people care much if its new people running a solvent exchange and 2 weeks go by with no problems they will start trading.  Look at how finex recovered with the hack, they got back to #1 pretty quick - ignoring current issues but thats a different matter.

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April 27, 2017, 12:55:11 PM
 #5

The answer is No.

The brand is completely toxic, and is best left dead. There are so many other exchanges, better run, (and some are regulated like Gemini and GDAX), so why not use those instead?

 
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April 27, 2017, 03:39:00 PM
 #6

The answer is No.

The brand is completely toxic, and is best left dead. There are so many other exchanges, better run, (and some are regulated like Gemini and GDAX), so why not use those instead?
I agree. It's pointless to focus on the past while everything that's available right now has so much more to offer.

MtGox could have gone Bitfinex style, but it should have been very close after the exchange went down. Right now there are far more users that found their way to Bitcoin.

It means that they haven't experienced anything from MtGox, and thus haven't got any connection with MtGox as brand. It will be a complete waste of effort and resources.

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April 27, 2017, 03:43:55 PM
 #7

I don't think they can make any success even if they return to business, the one who have lost their bitcoin with them in past don't gonna trust them with even a penny. Also most of the new guys who have came into bitcoin after MtGox incident may not use them.
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April 27, 2017, 03:49:56 PM
 #8

If u know mtgox make price of BTC down so much and many people lose anything they have... u never believe in that... remmember that bitstamp.net have hacked... but they recover quickly... because they have strategy like that they fix and start immediately hacker attack them... Not Mtgox.... a long time ago.... if i choose, i will choose btc-e only for trading.... (2nd it bitstamp)

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April 27, 2017, 03:55:19 PM
 #9

Many new people have arrived since it went down. There'll only be dim brand awareness.
At the time, there was a huge amount of publicity about Mt Gox.  Even if the general public will only have dim brand awareness, we're not realistically talking about the general public taking part - most newbies will have some vague ties to Bitcoin or interest in it beforehand or often at least be part of some sort of demographic (torrenters, gamers, that sort of thing) which will definitely have strong enough brand awareness of Mt Gox to be afraid of them.

If they came back up, the media would have a field day of clickbait articles about how terrible Mt Gox was (rightly so) and that would take investor confidence to a sum total of about zero.

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April 28, 2017, 04:38:17 AM
 #10

That would be most untrustable thing ever. It would be like creating money out of no where, thats what I felt finex did. Bitcoin price will also probably fall immediately, specially because it was a very large amount.
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April 28, 2017, 05:59:31 AM
 #11

I don't think they can make any success even if they return to business, the one who have lost their bitcoin with them in past don't gonna trust them with even a penny. Also most of the new guys who have came into bitcoin after MtGox incident may not use them.

Not only those who lost money with them, but who read the news and knew about the big scam it was... I never used their services, but just by reading about the fact I wouldn't send any satoshi to them. If they come back it won't work, as you said nobody will trust them, principally when there are another options to use as exchange, and people are happy with the exchanges we have at now.

 
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April 28, 2017, 07:26:56 AM
 #12

I don't think they can make any success even if they return to business, the one who have lost their bitcoin with them in past don't gonna trust them with even a penny. Also most of the new guys who have came into bitcoin after MtGox incident may not use them.

Not only those who lost money with them, but who read the news and knew about the big scam it was... I never used their services, but just by reading about the fact I wouldn't send any satoshi to them. If they come back it won't work, as you said nobody will trust them, principally when there are another options to use as exchange, and people are happy with the exchanges we have at now.

They are rigged and why would we trust them? Its so risky we allow ourselves to listen up again and put some money, they've got bad reputation already and i think that would be enough for us nor for people who already read the news about them and also your right we have so plenty of exchanger right now and why would we trust them again? Theirs a lot of possibilities that history will comeback and hit bad against them.

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April 28, 2017, 07:50:44 AM
 #13

I don't think they can make any success even if they return to business, the one who have lost their bitcoin with them in past don't gonna trust them with even a penny. Also most of the new guys who have came into bitcoin after MtGox incident may not use them.
Wel,there is a strong chance they're areadly running the business with another name registered in another country.You know,law didn't push them far enough to not start a new business.You might not even realize that you'd be using MTGoxx on a daily basis.Infinite possibilities.

If u know mtgox make price of BTC down so much and many people lose anything they have... u never believe in that... remmember that bitstamp.net have hacked... but they recover quickly... because they have strategy like that they fix and start immediately hacker attack them... Not Mtgox.... a long time ago.... if i choose, i will choose btc-e only for trading.... (2nd it bitstamp)
Dude,MTGox was an inside job.It's pretty common nowadays to turn any shit into scam and blame it on anonymous hackers.

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iDice_io
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April 28, 2017, 08:02:52 AM
 #14

There's no way they'll return, considering their reputation has been stained. Even after the Bitfinex hack, very few people are using it compared to before. On top of that, it seems like exchanges are facing troubling times with banks and processing withdrawals like Finex is having right now.

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Qartada
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April 28, 2017, 08:39:21 PM
 #15

if i choose, i will choose btc-e only for trading.... (2nd it bitstamp)
BTC-E aren't even accepting deposits.  Bitstamp and Coinbase look like the only major functional exchanges right now.  It really is insane.

Mt Gox returning at this sort of time when people's faith in exchanges is at about zero would be even worse.  Everyone would look it at, say "no, screw you" and move on.

The people who worked on and created Mt Gox could return, but they would need a new brand, new identity and new system.

richardsNY
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April 28, 2017, 09:21:41 PM
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BTC-E aren't even accepting deposits.  Bitstamp and Coinbase look like the only major functional exchanges right now.  It really is insane.

Kraken is a major exchange that is working properly as well. If people want they can even go for Gemini and Bit-X. I use Kraken and Bitstamp as my main exchanges. BTC-E is some sort of a back up exchange even though I never made a fiat deposit there. If I want to have fiat in BTC-E I just deposit Bitcoin and sell it for USD. That's what I did very recently where I bought Litecoin at $5 with the Bitcoins I cashed out for fiat.
anonymoustroll420
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April 28, 2017, 09:23:35 PM
 #17

There is a market for a magic the gathering exchange for Bitcoin. Perhaps they can return and go back to their roots.

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