Someone Buy Out MTGOX Please!

[usscfounder]

In the Age of corporate buyouts and takeovers, you would think that someone would have bought out MTGOX already!

The company's incompetence is staggering, with blunder after corporate blunder.

I could not even make it all the way through the ridiculous press release here:

https://www.facebook.com/MtGox/posts/484532824964463

All they offer is excuse after excuse...

Overload of your IT infrastructure and poor banking logistics is no excuse. It just means a lack of vision on your part. Anyone with half a brain could have seen where crypto was going.

I have seen less complex deals take place on wall street in a shorter amount of time than that which you have had to fix all of these problems.

I have also seen way more complex infrastructure implementation/provisioning in shorter amount of time.

As for MTGOX; I beg with all my heart for someone on Wall Street to please BUY OUT THIS COMPANY!

[syn999]

lol wall street buy mt gox?

[Big Toe]

Yes... this is what we need.

[Big Toe]

lol wall street buy mt gox?

Lol over 1,000 posts 80 activity, love it

[grue]

...or switch to a competing exchange instead of sitting on your hands.

[acoindr]

The company's incompetence is staggering...

It's always easier to criticize than do. Where is your track record for being a huge pillar of support in the billion dollar Bitcoin ecosystem with your competence, dealing with unending security worries, local govt pressure, foreign govt pressure, user pressure, scams, lawsuits, user incompetence, user complaints, system upgrades, technical problems, competition, employee problems, normal problems, partner/bank problems and who knows what else?

[Remember remember the 5th of November]

...or switch to a competing exchange instead of sitting on your hands.

I would suggest BitStamp, but who'd want there, where it has Ripple built-in and has working SEPA, right? I mean people want to wait a lot, and do various verification procedures just to torture themselves.

[usscfounder]

The company's incompetence is staggering...

It's always easier to criticize than do. Where is your track record for being a huge pillar of support in the billion dollar Bitcoin ecosystem with your competence, dealing with unending security worries, local govt pressure, foreign govt pressure, user pressure, scams, lawsuits, user incompetence, user complaints, system upgrades, technical problems, competition, employee problems, normal problems, partner/bank problems and who knows what else?

In case you didn't know, its called business.

I have worked on Wall Street. I have also worked for companies like PriceWaterHouse and Thompson.

I will admit that most companies have a growth path that takes time. MTGOX has grown substantially and has probably bitten off more than they could chew.

If you cant handle the heat get out of the kitchen.  

MTGOX needs to be run by a more professional, more experienced company that can handle those types of pressures.  

[acoindr]

MTGOX needs to be run by a more professional, more experienced company that can handle those types of pressures.  

You mean a company like Sony maybe? After all Sony is a multinational conglomerate corporation ranked 87th on the 2012 list of Fortune Global 500.

Sony Hacked Again; 25 Million Entertainment Users’ Info at Risk

Hackers may have stolen the personal information of 24.6 million Sony Online Entertainment users, the company said on Monday. More than 20,000 credit card and bank account numbers were also put at risk. This is in addition to the recent leak of over 70 million accounts from Sony’s PlayStation Network and Qriocity services.

[syn999]

The company's incompetence is staggering...

It's always easier to criticize than do. Where is your track record for being a huge pillar of support in the billion dollar Bitcoin ecosystem with your competence, dealing with unending security worries, local govt pressure, foreign govt pressure, user pressure, scams, lawsuits, user incompetence, user complaints, system upgrades, technical problems, competition, employee problems, normal problems, partner/bank problems and who knows what else?

In case you didn't know, its called business.

I have worked on Wall Street. I have also worked for companies like PriceWaterHouse and Thompson.

I will admit that most companies have a growth path that takes time. MTGOX has grown substantially and has probably bitten off more than they could chew.

If you cant handle the heat get out of the kitchen.  

MTGOX needs to be run by a more professional, more experienced company that can handle those types of pressures.  

why would they sell the company to a bunch new people?
theyr making money
no matter how bad their tech or service like you said
they still got most customers
you can switch exchange if you like?

[usscfounder]

The company's incompetence is staggering...

It's always easier to criticize than do. Where is your track record for being a huge pillar of support in the billion dollar Bitcoin ecosystem with your competence, dealing with unending security worries, local govt pressure, foreign govt pressure, user pressure, scams, lawsuits, user incompetence, user complaints, system upgrades, technical problems, competition, employee problems, normal problems, partner/bank problems and who knows what else?

In case you didn't know, its called business.

I have worked on Wall Street. I have also worked for companies like PriceWaterHouse and Thompson.

I will admit that most companies have a growth path that takes time. MTGOX has grown substantially and has probably bitten off more than they could chew.

If you cant handle the heat get out of the kitchen.  

MTGOX needs to be run by a more professional, more experienced company that can handle those types of pressures.  

why would they sell the company to a bunch new people?
theyr making money
no matter how bad their tech or service like you said
they still got most customers
you can switch exchange if you like?

Let's get real here for all of you that keep saying switch to another exchange.  Quit pretending that you don't know that MTGOX handles over 80% of all Bitcoin trades, OK?

If there was another exchange for people to switch to I am sure that they would.

Don't say BTC-e either.  BTC-e is a nice site but they have some issues. There is a reason why MTGOX has such a large market share. There is no one who can come close to competing with them.

As good as they are, that does not excuse the incompetence on their part.

Do like what most technology startups do and SELL.

[syn999]

yes, i know they handle most of the trades and thats the point.
they earn 80% of the fee
why would they sell?unless they can get more profit by selling the exchange
and why would someone from wall street buy the exchange if they wont make a profit?

[usscfounder]

My guess is that the only reason MTGOX wont sell is that they are waiting for an IPO.

I guess we all have to suffer until then...

[freedomno1]

Thank goodness for other exchanges 

[legitnick]

I hate mtgox. A bunch of scammers, who nearly destroyed the bitcoin market during the crash when they stopped allowing withdraws.

[BitOmni]

If you would want someone or some company to buy out MTGOX, which one would you choose? as an ideal candidate?

In the Age of corporate buyouts and takeovers, you would think that someone would have bought out MTGOX already!

The company's incompetence is staggering, with blunder after corporate blunder.

I could not even make it all the way through the ridiculous press release here:

https://www.facebook.com/MtGox/posts/484532824964463

All they offer is excuse after excuse...

Overload of your IT infrastructure and poor banking logistics is no excuse. It just means a lack of vision on your part. Anyone with half a brain could have seen where crypto was going.

I have seen less complex deals take place on wall street in a shorter amount of time than that which you have had to fix all of these problems.

I have also seen way more complex infrastructure implementation/provisioning in shorter amount of time.

As for MTGOX; I beg with all my heart for someone on Wall Street to please BUY OUT THIS COMPANY!

[Factory]

MTGOX will not be bought out. Any serious competitor will just build a better system from the ground up that has less hiccups, handle far greater volume, and have a far more enjoyable UI.

[xavier]

There is no point buying out mtgox. They do not offer anything worth buying.


The latest excuse.... well it's not an excuse. It's a bluff. There is no technical problem. There is a regulatory problem with dealing in US dollars.

[dwolfman]

Could care less if they got bought out or not, since I quit MtGox over a month ago.  Happily using CampBX ever since. 

I'm also not likely to ever go back and try it again when they get their supposedly improved engine online.

[Liquid]

Because you know exactly what a global company built on an experimental business model is, and how its suppose to run

The only people in the world right now that know how to run Mt gox is the people at Mt gox !

I'm sorry but its easy to criticize but you have absolutely no understanding of the complexity that mt gox has to deal with here on a global scale.

Personally i don't understand all the hate surrounding Mt gox its not like they hold everyones coins like BFL, you have a choice not to use them