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February 11, 2014, 08:00:57 PM |
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Instead of Mtgox dying, which will (1) look horrible to the public in general and (2) will likely result in massive government crackdown and a media frenzy where they all say "I told you bitcoin was dangerous and should be avoided," how possible is this alternative where Mtgox lives:
A group of investors buys Mtgox, and hires a great team of programmers etc to run it the right way. Obviously, the value of Mtgox would need to be determined (something like the value of the exchange (which is worth a lot) less the amount owed to customers due to double issuances). A headline of how the old management is out and the new sharp management is in would go over great. Karpeles and the old management, who truly are to blame here (from what I understand), are pointed to as the reason for the problem, and not bitcoin itself. Mtgox lives, and this whole episode is put behind us. Mtgox dies = a potential disaster which could take many many years to recover from, and could easily result in many governments really cracking down on bitcoin, either prohibiting it or regulating it to death.
Is this possible?
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