Mt Gox CEO Karpeles says bitcoin exchange is at "turning point"

[T.Stuart]

Karpeles said: "We should have an official announcement ready soon-ish. We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties."

He is selling the company .... that's obvious

Hope that the company buying this auwful mess doesn't get Goxxed!.

That actually sounds a lot like he is selling.. Who would want to buy exchange with so bad reputation?

I would buy it if I were able to lay out all of the terms to the site member/customers, so that they know exactly what is happening every reconstruction, rebranding, and repositioning step of the way.  I would not buy it unless I had the actual cooperation of the membership.   Rest assured, everything would go up: service quality, security, rates, value, and appreciation.

Take special note, the price would be no higher than $1, but no one would lose a dime from insolvency or foul play. 

If I would buy MtGOX for $1 (providing most money was lost and I am full owner from the GO) I would give out shares/dividend in BTC/USD to all people who have a debt.
This way you can repay everyone over time even compensating them if they have faith in the company over time. The company would remain to have money to operate.

Ofcourse hire capable people for running the show in a safe and secure manner. No more lost cold wallets
Hire a trusted external party(s) to regularly audit the company (incl. books) and take advise seriously.
Put up an apology to all people who got screwed over and commit to a repay through shares/dividend system.

Make internal changes like restaffing allmost everyone (atleast management and programmers).
Provide social media and good and regular updates of the status. Communicate to the world in an open manner.
Limit witdrawls and ease open the gates until a full free flow of money is allowed. (this is necessary to stop mass withdrawl)

I would not bother to change the name MtGOX, I would rebrand the logo to signify change in management.


But then again I've never run a company....

Oh no. Don't tell us we're going to be long-term shareholders in Gox! Is that our punishment?

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[Dissonance]

Since were all having fun speculating im gonna say mtgox gets rescued by a consortium of investors led by the twins. They will purchase for a dollar and pay all liabilities.  The site gets a makeover and is rebranded and kaples resigns.  Their trading platform gets enhanced and the reopen with atkeast some of their customers staying since its under new management.

[Bit_Happy]

...
The trading fees will need to double or triple at minimum to even have a hope of recovery before civil action.

No, not correct:

It really depends on how much BTC the hackers stole recently.
    Gox made more than enough last year to cover what the Feds stole.
Don't believe that?
Look at one single good day late last year (for example)
~74,000 BTC volume*~$1089.57USD/BTC = ~$80,628,180*~1%fees = ~$806,281.80 in one single (above average) day

Gox made more than enough last year to cover what the Feds stole.

[pungopete468]

...
The trading fees will need to double or triple at minimum to even have a hope of recovery before civil action.

No, not correct:

It really depends on how much BTC the hackers stole recently.
    Gox made more than enough last year to cover what the Feds stole.
Don't believe that?
Look at one single good day late last year (for example)
~74,000 BTC volume*~$1089.57USD/BTC = ~$80,628,180*~1%fees = ~$806,281.80 in one single (above average) day

Gox made more than enough last year to cover what the Feds stole.

It's not that simple. The Gross Revenue is a far cry from the Net Income. Financial Service businesses operate in a very expensive racket. Look at other financial exchanges, e-trade for example...

e-trade does more than $250 Billion per year in trade; in 2013 they profited 0.03% (that's three hundredths of 1%.) They closed out 2012 in a deficit, and profited 0.09% in 2011.

It's not a cheap field to operate a business in, and I expect Gox doesn't get to exempt themselves from the costs that other Financial Exchange businesses are subjected to.

If Gox can net 1% of their Gross Income at the end of the year without considering any repayment for seized funds, that would be a banner year...