Open Letter to Mark Karpeles: Voluntary Reorganization is the Best Option for Us

[JorgeStolfi]

Fulltiltpoker is almost a carbon copy of this case except they were flat broke, at least gox has 20 mil

No one knows yet the situation of MtGOX.  

According to rumors, the account balances (debts) with no cover are at least 400 million dollars.

User @twobitidiot (at reddit?) says that he sold all his bitcoins after learning of the situation. Claims that Mark approached three investors but they ran away when they began to realize the extent of the damage:

http://two-bit-idiot.tumblr.com/post/77920927310/i-retract-nothing-i-have-written-so-far-regarding-mt
http://two-bit-idiot.tumblr.com/post/77967162725/breaking-full-mt-gox-story-coming

Do you have a source for that "20 million" of assets?

[fluidjax]

Fulltiltpoker is almost a carbon copy of this case except they were flat broke, at least gox has 20 mil

No one knows yet the situation of MtGOX.  

According to rumors, the account balances (debts) with no cover are at least 400 million dollars.

User @twobitidiot (at reddit?) says that he sold all his bitcoins after learning of the situation. Claims that Mark approached three investors but they ran away when they began to realize the extent of the damage:

http://two-bit-idiot.tumblr.com/post/77920927310/i-retract-nothing-i-have-written-so-far-regarding-mt
http://two-bit-idiot.tumblr.com/post/77967162725/breaking-full-mt-gox-story-coming

Do you have a source for that "20 million" of assets?

http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

The $20M is on the Crisis Strategy Doc (actually its $22.4M USD -  but with other assets it makes a total of around $33M)
Total liabilities $55M + (744K BTC * current price on stamp) = $501M


At current Bitcoin prices looks like  they will be paying out liabilities at 15 cents on 1 Dollar (15%)  ($500M/$33M)
Which means Bitcoinbuilder should be trading at 0.066 for break even (Though I wouldn't touch it anymore, even at .01)

[Tugbit]

I have no gox account, i saw red flags before i ever registered.

Nevertheless I like the gist of this open letter, if done properly this could be THE ultimate showcase for blockchain tech, not sure tough if Karpeles fits in this plan as CEO.