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Author Topic: It appears Mt. Gox isn't dead but rebranding as Gox after 1 month hiatus.  (Read 2967 times)
jubalix
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February 25, 2014, 06:12:13 AM
 #21

I suppose gox is well known, the advertising alone / brand recognition must be worth millions

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bananas
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February 25, 2014, 06:30:25 AM
 #22

I suppose gox is well known, the advertising alone / brand recognition must be worth millions

the brand is worthing nothing. it is well known for bad adjectives only.
5thStreetResearch
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February 25, 2014, 06:43:16 AM
 #23

I suppose gox is well known, the advertising alone / brand recognition must be worth millions

the brand is worthing nothing. it is well known for bad adjectives only.

yea the brand name has negative value at the moment

flyaaaa
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February 25, 2014, 06:47:31 AM
 #24

Well I'm not saying the document is not true. But NY Times didn't confirm. NY Times just said: " Somebody said so, blablabla..."
Whether this document is true or (more likely IMO) a fake, I find it comical that the number of bitcoins allegedly lost over a few years is 744,408.  An organization that failed to notice the disappearance of half a billion dollars, millions of dollars per employee, nevertheless is supposed to have been able to calculate their losses to an accuracy better than 1 part in 105

Document is true, as confirmed by NY Times:

http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?_r=0

Quote
A document circulating widely in the Bitcoin world said the company had lost 744,000 Bitcoins in a theft that had gone unnoticed for years. That would be about 6 percent of the 12.4 million Bitcoins in circulation.
ILoseAtPoker
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February 25, 2014, 12:29:07 PM
 #25

I believe the entire document is true.

If anyone followed the fall of the very trusted online poker site "Full Tilt Poker" you would see the similarities.

The US government seizing a large amount of $ (as happened in both cases) would force most companies to run a fractional reserve to stay open - after that it is a slippery slope.

Players from Full Tilt Poker get their money back this week.  This money was seized by the DOJ.  Mt Gox simply lost their user's balances by being negligent.  The DOJ doesnt have this money to pay back user's as they did with Full Tilt.  Very different situations here.


That is not correct. When the DOJ seized full tilt they didn't have the players money. The only reason people are getting their money back is because PokerStars signed a deal with the DOJ bailing FullTilt out and restoring user balances. It would be the equivalent of Bitstamp buying out Gox now and returning peoples money. Full tilt was an empty shell like Gox is now.

http://www.forbes.com/sites/nathanvardi/2012/07/31/pokerstars-will-pay-547-million-to-settle-u-s-government-charges-and-buy-full-tilt-poker/

The two situations are almost identical: http://www.coindesk.com/mt-gox-may-headed-bankruptcy/
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