Suing MtGox for $75m is a dick move.

[ancap]

If i were gox, id turn all my profits into BTC so they cant be stolen.

[1713985116]

1713985116

[cobrabyte]

meh, a contract's a contract. it'll all come out in court.

[GreenGod]

I'd say many people interested in bitcoin are capable of such a 'dick move' - it is money after all. It brings the worst out in many of us. Not an excuse, just saying especially in the early adoption phase of a technology, innovators come for many different reasons. Often profit.

[Jakewell]

Yeah but i had been better if mt gox hadnt done that deal.

[dbcch0]

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

I don't know, does it? ;p. If you read that, then that's where the lawsuit will be. That actually is another sign that Mt.Gox may not have been as big into business as Coinlab, something I suspect is a big part of the problem here. Mt.Gox grew very organically, and I'm just not convinced Mark whoever is an experienced businessman. While you wouldn't think that matters, when it comes to contracts, it's easy to 'get one over' on the other party, which is why everyone has buttloads of lawyers to review these things.

And, yea, I'm sure Mt.Gox regrets the deal, BUT they probably wanted isolation from the possibility of US and Canadian regulation. They hedged their bets to decrease risk, and then - seemingly - reneg'd when the risk abated.