Does MtGox actually WANT to go out of business?

[crazy_rabbit]

The thought occurred to me while trying to wrap my head around Gox'es inability to improve their business after all this time that perhaps they actually WANT to go out of business. Perhaps Karples has made enough money and truly dislikes dealing with customers/clients/regulation/creditors/employees, etc... Perhaps for whatever reason he doesn't want to sell the company, just run it into the ground. Maybe he doesn't even know he wants to run it into the ground but after unexpectedly becoming the focal point of the future of money he's found the pressure to be to great. Like a rock-star train wreck, determined to self destruct.

Crazy theory, but no crazier then ignoring your customers entirely, making a deal with coinlab and then simply not following through (only to get sued for 75 million dollars), lying to the banks and having the federal government seize your assets. Is it poor management (phenomenally poor) or is it a cry for help? Does Gox really want to do right by bitcoin but has a captain no longer capable of steering the ship?

I dunno, but I can't wrap my head around they way they do business now.

[greyhawk]

My theory: There is no one there running the company anymore. Karpeles is in Cuba sitting at a pool filled to the brim with Casksassious coins sipping cocktails. Mt Gox "employees" are in reality an AI chatbot with prerecorded soundbytes.

[crazy_rabbit]

My theory: There is no one there running the company anymore. Karpeles is in Cuba sitting at a pool filled to the brim with Casksassious coins sipping cocktails. Mt Gox "employees" are in reality an AI chatbot with prerecorded soundbytes.

As good a theory as any! Maybe thats what Karpeles means by "moving data center".

[bitcoinbboyce]

This theory makes more sense than anything else I could imagine, you would think there would be a grown up in the room over at Gox headquarters screaming DAMAGE CONTROL but all you get is Tux playing #minecraft whilst users are waiting months and months for money that they have tied up in the company.

I can't for the life of me think why they have not got a public facing employee to deal with the media and take the brunt of what is one of the worst PR exercises imaginable.

[greyhawk]

I can't for the life of me think why they have not got a public facing employee to deal with the media and take the brunt of what is one of the worst PR exercises imaginable.

Well they got one but she can't show her face to the public, as she got some bad rep some years ago.

Nevertheless with some digging I found a video of her job interview at mt gox.

http://www.youtube.com/watch?v=qXPmtf4udRE

[KarmaShark]

A fun way to answer this question at this junction with Mt Gox is to ask "What else could Mt Gox to do help their chances of going out of business?". I think that list will realistically look pretty short as they have done a good job at disrespecting their customers at every opportunity given.

[C. Bergmann]

Where is your power to imaginate?

Gox is highly troubled by authorities since april. Millions of dollars are freezed. Since the fiat-amount growed for 600 percent sind april, their partner-banks are stressed.

Gox deals with millions in several currencies. They never have been prepared for this.

Do you really think they have the time to develop a better gox? I think they are struggling a lot with lawyers, authorities and bankers. At least gox works, while a lot of other exchanges have closed.

[Mooshire]

Personally I'm pretty sure that they are just sitting there smashing keyboards and trying to make things work.

[uhoh]

With Kraken and Coinsetter starting up, it looks like the natural progression will be that there will be no reason to use Gox and it will meet its end (or it'll meet a demand it's capable of handling i.e minimal). I find it staggering how poorly it's performing, whilst consistently decimating the legitimacy of Bitcoin at almost every turn. Fact is, it's really too late in the day for them to get their house in order. Better things will come along, exchanges that institutional investors will actually trust with large amounts of money.

Gox had its day, but it managed to blow up the sun and nuke the moon.

[bitcoinbboyce]

Do you really think they have the time to develop a better gox?

I think all that is needed at the moment is a better PR strategy, they could probably thrash this out in a series of hour long meetings and one appointment but they just do not seem to care about the customer.

Mark Karpeles is a board member along side some smart minds with the Bitcoin Foundation, surely someone must be able to advise him???

Jeez imagine paying for a a full page ad in the G8 Conference Magazine purporting the how secure and reliable their service is and then leave this hell hole of an official Facebook page

https://www.facebook.com/MtGox?filter=2  

Mind = bottled

[greyhawk]

smart minds with Bitcoin Foundation

I don't get it. Explain this to me? 

[bitcoinbboyce]

smart minds with Bitcoin Foundation

I don't get it. Explain this to me? 

https://bitcoinfoundation.org/about/board

[greyhawk]

smart minds with Bitcoin Foundation

I don't get it. Explain this to me? 

https://bitcoinfoundation.org/about/board

Yes?

[bitcoinbboyce]

smart minds with Bitcoin Foundation

I don't get it. Explain this to me? 

https://bitcoinfoundation.org/about/board

Yes?

[C. Bergmann]

Do you really think they have the time to develop a better gox?

I think all that is needed at the moment is a better PR strategy, they could probably thrash this out in a series of hour long meetings and one appointment but they just do not seem to care about the customer.

Mark Karpeles is a board member along side some smart minds with the Bitcoin Foundation, surely someone must be able to advise him???

ha!

Look at bitinstant, it's down for month with a very poor explanation. And charlie shrem is jetting from meeting to meeting to promote bitcoin. I wish they send mark karpeless instead of him, he would know for sure how to talk about bitcoin as a global multi-million-dollar-business.

What I mean is: Without gox, the golden april would not have happen, and if gox had done the bitinstant right after facing authorities, the prize would have fallen much deeper. Even if its time to diversify the exchange landscape - show gox some respect for what they have realized. Without them your coins possible would be worth less.