Suing MtGox for $75m is a dick move.

[MiningUnited]

From stories I have read in the media, it would appear this was their intention all along.

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[Stringer Bell]

Maybe they just want to destroy Mt Gox and make way for themselves?

Simple greed at work or something more sinister?

[pheaonix]

it seems that gox got greedy and wouldn't provide what they could easily provide, and agreed to in the contract

hopefully this makes coins cheaper and kills gox quicker

[dumbflex]

I wonder if the 500k investment to coinlab has something to do with the lawsuit..

[Malawi]

From stories I have read in the media, it would appear this was their intention all along.

As if they would come out as trustworthy?

Edit:
BTW: How will this affect americans?
Can they continue as before, or do they need to buy BTC to get away from Coinlab/MtGox and then return to MtGox/other exchange with  a new BTC-account?

[dumbflex]

I bet that they made a lot of money by selling their bitcoins before the lawsuit was published and then buying them back at the bottom.

[Evolekam]

LOL @dumbflex

It would be a pretty smart idea to do that.

[dbcch0]

I bet that they made a lot of money by selling their bitcoins before the lawsuit was published and then buying them back at the bottom.

Cynical, but maybe true. Actions like that are another reason that the exchanges need to be properly regulated. There's a reason all traditional markets are regulated; and it's not 'just because'. Regulations were in response to people abusing, defrauding, and manipulating the markets. Since humans aren't saints, you have to have reasonable 'laws' to ensure fair play.

As for the lawsuit, Coinlab should have just terminated their contract with Mt.Gox and started soliciting customers on their own. I don't see why they wouldn't do this. There are enough people either disillusioned with Mt.Gox or wanting to operate with an exchange in North America that I'm sure they'd succeed. For THIS reason, I am a little skeptical. It's almost as if CoinLab is more interested in milking Mt.Gox out of money than building their own profitable exchange.

[JoeChmoe]

Its all about the money. It would be naive to believe everyone is truly behind Bitcoin and not its monetary potential. That includes a percentage of the members here as well.   

[MiningUnited]

Its all about the money. It would be naive to believe everyone is truly behind Bitcoin and not its monetary potential.

I am sure every single original BitCoin user had this in the back of their mind.

[Namealreadyexists]

Sueing, or threatening to sue is just an invitation for a serious conversation. Otherwise Mt.Gox will feed you "we are working on it" line until the end of time. They should just create another check box in the help desk menu "I am not messing around, if you don't address my grievance right away I'll sue your Delaware registered subsidiary". Or are they actually going after the Japanese headquarters?

[dbcch0]

I am sure every single original BitCoin user had this in the back of their mind.

There are those who are interested in more than profit. Not everything is profit (hate to tell you). There is more to life. Who knew, right?

Many are interested in the design of Bitcoin and its positive attributes as a potential currency. These type of people find reward in intellectual exercises, not simply profit.

[yuyu123]

MTGOX would need to pay coinlab a lot of money but it'll take years to the sue to end

[Malawi]

Does anyone know if this is under US or Japanese jurisdiction?

They may have a bit different takes on setting up a trap and then sue. (If that is what have happened here.)

[dbcch0]

Does anyone know if this is under US or Japanese jurisdiction?

I believe it was filed in the US, though I may be wrong. It does get somewhat problematic to file a lawsuit internationally, though Japan is one country where there are at least fewer barriers than in some other countries.

[JoeChmoe]

I am sure every single original BitCoin user had this in the back of their mind.

There are those who are interested in more than profit. Not everything is profit (hate to tell you). There is more to life. Who knew, right?

Many are interested in the design of Bitcoin and its positive attributes as a potential currency. These type of people find reward in intellectual exercises, not simply profit.

My exact stance.

[bornloser]

I know they should have sued for alot more. according to all the pros on here we are talking billions upon billions. so 75 million is chump change.

[TiagoTiago]

Does anyone know if this is under US or Japanese jurisdiction?

I believe it was filed in the US, though I may be wrong. It does get somewhat problematic to file a lawsuit internationally, though Japan is one country where there are at least fewer barriers than in some other countries.

Doesn't the contract specify they agree to use Washington as the jurisdiction for any dispute between them?

[supercoins]

I think both parties will sort the matter out of the courts

[dsmith]

meh cost me my summer school credit. was going to sell at 250 to pay for a course but it crashed so hard.