Legal Problems Now

[5EC948A1]

Its strange that there are lawsuits now with Bitcoin.  Is this the future of Bitcoin?

[Mike Christ]

It's going to be apart of its past, for sure.

[5EC948A1]

It's going to be apart of its past, for sure.

Yes, I agree.

[5EC948A1]

The problems began when WikiLeaks started to accept Bitcoin and that kicked the hornet's nest.

[carebear]

Well, since mtgox takes 0.6-0.5% comission on all the trades, that's like 100k dollars per day for them...

So I don't think 75m USD will hurt them that much.

That is... if they lose the lawsuit.

[5EC948A1]

USD $75 million is a big chunk of fiat.  I wonder how they tricked Mr. Karpeles into signing such a bad contract with no financial consideration being paid upfront?

[storm11]

Does it remind anybody of the Facebook lawsuits? It is certainly reminding me a lot of these, lets see how it pans out

[professorY]

Funny how Coinlab is suing Gox for what amounts to (by most estimates) 3x the amount of their total yearly transactions.

[clicksmoney]

It's a sideshow in jurisdictions I'm not involved in with BTC. Vote with your feet - litigious dealings aren't the future I want.

[drlukacs]

It's a sideshow in jurisdictions I'm not involved in with BTC. Vote with your feet - litigious dealings aren't the future I want.

Unfortunately, litigation is part of doing business, especially in a place like the US.

[FesterBlack]

It's a sideshow in jurisdictions I'm not involved in with BTC. Vote with your feet - litigious dealings aren't the future I want.

Unfortunately, litigation is part of doing business, especially in a place like the US.

Yeah, everyone wants their piece of the action. The bigger BTC gets, the more lawsuits you'll see.

[drlukacs]

Yeah, everyone wants their piece of the action. The bigger BTC gets, the more lawsuits you'll see.

Yes, but also the more money people dealing with BTC will have to spend on expensive lawyers, just like any other business does.

[prophetx]

USD $75 million is a big chunk of fiat.  I wonder how they tricked Mr. Karpeles into signing such a bad contract with no financial consideration being paid upfront?

I just read the beginning of the court filing... is that really the case that they signed away all of their north america business in exchange for for royalty fees?  and no up front payments from coinlab? lmao...

Isn't Tim Draper an investor in CoinLab?  

This contract and the lawsuit is bad business... and bad for reputations...

[eastpk]

I agree that it will be a part of the past. I dont think that it is a bad thing that this is coming up, everything has bumps along the way.

[drlukacs]

I just read the beginning of the court filing... is that really the case that they signed away all of their north america business in exchange for for royalty fees?  and no up front payments from coinlab?

You are probably reading pleadings (i.e., wishlist of the plaintiff), not the evidence. :-)

Probably no statement of defense was filed yet either. Wait and see.

[polymyxa]

they are just some typcal trolls

[Kluge]

Its strange that there are lawsuits now with Bitcoin.  Is this the future of Bitcoin?

Different BTC exchanges have been engaged in lawsuits for at least a year, now. TradeHill sued Dwolla over a year ago, still hasn't gone anywhere afaik.

[MiningUnited]

Its strange that there are lawsuits now with Bitcoin.  Is this the future of Bitcoin?

Where ever there is money to be made, lawsuits will follow. With the explosion in BitCoin lately it is no surprise and you will see more and more related lawsuits to come.

[5EC948A1]

A  United States corporation vs a  Japanese corporation in a United States court room.  I think it will be difficult for Mt. Gox.

[ohhaithere]

Its just a law suit, companies get sued every day and you don't stop buying from them. It's not a big deal guys, keep your bitcoins.