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Author Topic: Mtgox is changing owners  (Read 10902 times)
mtgox
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March 06, 2011, 12:23:19 AM
 #1

Hello Everyone
I created mtgox on a lark after reading about bitcoins last summer. It has been interesting and fun to do. I’m still very confident that bitcoins have a bright future. But to really make mtgox what it has the potential to be would require more time than I have right now. So I’ve decided to pass the torch to someone better able to take the site to the next level.
MagicalTux has already contributed a lot to the bitcoin community and in many ways he will be better at running the site than I was. He has much more experience with web programming, system administration and integrating with banks and other payment processors than I do.

Everything will still work the same as always for the time being. But expect a lot of positive changes after he takes over including:
Automatic (and free) funding from Euro accounts.
Automatic ACH deposit and withdrawal.
Margin trading.
Interface redesign.
Lifting the $1000 a day withdrawal limit.

Thanks to everyone that has supported mtgox so far. Can’t wait to see BTC hit $10!

I can still be reached on the forum as "jed" or through fivegrinder.com

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casascius
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March 06, 2011, 12:25:06 AM
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It was a pleasure working with you

Can it be expected to remain up and doing business as usual?

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
MagicalTux
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March 06, 2011, 12:30:14 AM
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Hi everyone,

For information, mtgox issues can still be sent to the usual email address, no problem there.

Considering the recent activity around mtgox, this might not have been the best time, but I believe this'll work out. Other issues that will be adressed in priority includes providing a legal context around mtgox (legal stuff such as terms of services). This will include strong privacy policies, and the required policies so problems do not get out of hand, and increases in security (ability to limit withdraws via a sms validation, for example).

Anyway the goal is to keep mtgox up and running as it is right now, while adding missing features and ensuring it will last. For information mtgox is not directly managed by me, but by my own company, which will hire some staff to get mtgox improved.

Should you have any question you can send mails to info@mtgox.com or contact me on IRC (nick: MagicalTux) and I'll make sure to answer anything you need. If there's too many question I may add a FAQ about this.

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March 06, 2011, 12:34:44 AM
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How much was this site sold for?

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March 06, 2011, 12:42:06 AM
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And what happened to the 45k blocked ?

MagicalTux
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March 06, 2011, 12:42:47 AM
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How much was this site sold for?
That's probably one of the most difficult questions to answer. Of course the agreement is confidential, however one thing I can say is that Jed is still looking over us for now and that I am engaged to continue and improve mtgox for the best of the whole community.

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March 06, 2011, 12:44:08 AM
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And what happened to the 45k blocked ?
This issue is still being investigated. I'll contact Baron myself to find a resolution over this issue.

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March 06, 2011, 12:44:27 AM
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This sounds good to me. Free EUR transfers are a big perk since that's the fiat I mostly use anyway, and clear TOS is a big step forward. I've been worried about how things have been going lately to the point of withdrawing my funds from Mt Gox, but if this turns out the way it looks, I think I'll feel comfortable doing business on the exchange again.
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March 06, 2011, 12:49:53 AM
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And what happened to the 45k blocked ?
This issue is still being investigated. I'll contact Baron myself to find a resolution over this issue.

For what I understand, the blocked funds are part of the deal ?

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March 06, 2011, 12:50:38 AM
 #10

Automatic (and free) funding from Euro accounts.
Automatic ACH deposit and withdrawal.
Excellent!  And good luck on your ongoing ventures, Jed.  Thanks for all your hard work on Mt. Gox!

If you found my post helpful, feel free to send a small tip to 1QGukeKbBQbXHtV6LgkQa977LJ3YHXXW8B
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March 06, 2011, 12:51:30 AM
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Sounds like there are lots of goodies coming up. Thanks to mtgox for his great job so far and welcome to MagicalTux Smiley Will be interesting to follow the progress, especially the legal part.

MagicalTux
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March 06, 2011, 01:01:06 AM
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And what happened to the 45k blocked ?
This issue is still being investigated. I'll contact Baron myself to find a resolution over this issue.

For what I understand, the blocked funds are part of the deal ?

The issue is part of mtgox. The situation is a bit suspicious and it may take some time to find out exactly what happened, but it will be addressed in priority.

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March 06, 2011, 10:15:22 AM
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Thanks to everyone that has supported mtgox so far.
And thank you Jed for all you've done for Bitcoin, and for the prompt and helpful support you've always given me.
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March 13, 2011, 09:40:47 PM
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MtGox is working??
Sent money from Paxum account to paxum@mtgox.com and did not get funds on account...
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March 14, 2011, 02:36:04 AM
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In what legal regime do you lay your head at night? Serve the site from? Hold your bank accounts? Are you now, or do you plan to incorporate? To what arm of the FATF are you expected to report? Do you intend to file a promise there?

https://www.nanaimogold.com/ - World's first bitcoin exchange service
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March 14, 2011, 06:15:54 AM
 #16

believe the new owner is in japan if he's the same guy running kalyhost

which is not good considering epic disaster
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March 14, 2011, 02:02:56 PM
 #17

believe the new owner is in japan if he's the same guy running kalyhost

which is not good considering epic disaster
Radioactive bitcoins!

Adding support for Yen would be nice.

Use my Trade Hill referral code: TH-R11519

Check out bitcoinity.org and Ripple.

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1Hio4bqPUZnhr2SWi4WgsnVU1ph3EkusvH
BioMike
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March 14, 2011, 06:37:27 PM
 #18

epic disaster can strike everywhere... Plus I think Kalyhost has their servers spread around the globe.

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demonofelru
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March 16, 2011, 02:40:31 AM
 #19

Hmm Tux hasn't been on since the 16th hope you're ok Tux!

Edit: I was looking at his local time lol today is the 16th nvm

Names do not matter; however, if you insist...id...
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March 16, 2011, 08:36:42 PM
 #20

He was active two days ago, which is a good sign


Name:   MagicalTux
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Date Registered:   November 07, 2010, 02:44:21 am
Last Active:   March 14, 2011, 07:57:23 pm

>15years analysis experience

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