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Author Topic: Resurrection of Mt.Gox  (Read 6384 times)
overc
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February 28, 2014, 10:07:55 PM
 #21

Your way of assigning shares is kind of "random" because it depends on the liability in dollars and in bitcoins of Mtgox. Instead we should assign shares in a more fair way, as, for example, who got 1 goxcoin (on the exchange) gets the same of who had 500 gox dollars.

Best regards,
ilpirata79

After some thinking I would agree with you, probably you are right. It will be more fair to convert 55M USD balances into let's say 100K BTC by current market price 550 and to issue 72,440,000 shares
wich are entitled for USD and BTC dividents.

It is idea just appeared: all of BTC trading fee will go to dividents and all of USD trading fee will cover operational cost to run the business.


I have changed the plan with these new concepts, see topic-start message.

Any comments for the new plan?
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leopard2
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February 28, 2014, 10:17:28 PM
 #22

Nice plan

debt-to-equity swaps are often done; even for countries this is possible (by turning bonds into money). I bet we will see some more examples in our lifetime   Cool

Truth is the new hatespeech.
overc
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February 28, 2014, 10:19:03 PM
 #23

Nice plan

debt-to-equity swaps are often done; even for countries this is possible (by turning bonds into money). I bet we will see some more examples in our lifetime   Cool

Good. How to submit it to people who can do that?
V4Vendettas
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February 28, 2014, 10:20:24 PM
 #24

If 1 goxcoin (on the exchange) gets the same of who had 500 gox dollars you can count me in.

I would rather have a shares in a crappy company than have nothing.

BitCoinNutJob
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February 28, 2014, 10:25:25 PM
 #25

If 1 goxcoin (on the exchange) gets the same of who had 500 gox dollars you can count me in.

I would rather have a shares in a crappy company than have nothing.

+1 ideally i wouldnt want to get my goxbtc valued @ $160 with no choice
Justin00
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February 28, 2014, 10:30:56 PM
 #26

lol why do you guys love pain so much ?

let it die

lets say it comes back to life.. he's fucked you over how many times now ? but ya.. ok so pretend all good.. 3 months later.. same deal... and again
and again as its been for years. ya im sure mark really cares about all of you... hugs for all

i just dont get it...

ilpirata79
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February 28, 2014, 10:37:03 PM
 #27

lol why do you guys love pain so much ?

let it die

lets say it comes back to life.. he's fucked you over how many times now ? but ya.. ok so pretend all good.. 3 months later.. same deal... and again
and again as its been for years. ya im sure mark really cares about all of you... hugs for all

i just dont get it...

V4vendettas answered before you asked: better to have shares of a crappy company that have NOTHING!

Best regards,
ilpirata79
mgroenouwe
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February 28, 2014, 10:39:03 PM
 #28

This simple and straight-forward plan will facilitate returning funds to existing customers and even bring some potential profit to them. It will allow customers to have the choice: to either sell shares at market price, which will be established immediately after gox.com goes live and withdraw it instantly, or earn dividends with the potential for capital gain recovery and, probably, have a benefit from raising shares prices.

I think this is a good plan also, but withdrawal of sold shares isn't possible right away, or do I miss something?


It is possible to recreate and re-brand the Mt.Gox business completely (including software reengineering) using 2,000 BTC and 22,430,000 USD which Mt.Gox has now.

There are no funds left when the exchange is recreated. People who want to get out immediately can't.
V4Vendettas
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February 28, 2014, 10:48:12 PM
 #29

Ow one more thing. Mark needs to not have any control of anything ever and has to write an essay and mail it to every single gox customer explaining why he did not commit Seppuku.

So how the hell would we get this idea recognised ? I take it we need to get a mass petition going and get the Japanese appointed official overseeing this all to read it ?

A big job and I don't consider myself anyway near as smart as many lurking around here but I will say this I'm willing to bust my ass helping to get it done.

Any known hero's want to start rolling with this? You have my sword (or chubby fingers and keyboard in this case).

ilpirata79
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February 28, 2014, 10:49:15 PM
 #30

In this way is as tough as we bought Mtgox for about 450 million dollars...
Is that a fair price? To be the case it should generate at least 4-5% of that amount in profit every year, which is 22,5 million dollars. Is that the case?

Best regards,
ilpirata79
ilpirata79
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February 28, 2014, 10:50:40 PM
 #31

I propose Andreas Antonopoulos as CEO Cheesy

Best regards,
ilpirata79
ilpirata79
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February 28, 2014, 10:52:16 PM
 #32

I think they already are considering a plan like this. It is mtgox however that should take the initiative and, in doing that, it should ask for the creditors approval (all of us).

Best regards,
ilpirata79

V4Vendettas
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February 28, 2014, 10:55:23 PM
 #33

I think they already are considering a plan like this. It is mtgox however that should take the initiative and, in doing that, it should ask for the creditors approval (all of us).

Best regards,
ilpirata79



It simply takes Gox to mail its customers the proposition and ask for a vote.

Thing is what happens to those not wanting to play along and how is this fair on them. Granted nothing is fair in this whole mess but still. What kind of % would they need to pass this and are there any laws on it?

overc
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February 28, 2014, 11:00:13 PM
 #34

I propose Andreas Antonopoulos as CEO Cheesy

Best regards,
ilpirata79

My opinion is: Friedcat as well-trusted person here would be nice as well.
The only problem I can see with him: he do not have experience to run such type of business.
overc
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February 28, 2014, 11:03:41 PM
 #35

I think they already are considering a plan like this. It is mtgox however that should take the initiative and, in doing that, it should ask for the creditors approval (all of us).

Best regards,
ilpirata79



It simply takes Gox to mail its customers the proposition and ask for a vote.

Thing is what happens to those not wanting to play along and how is this fair on them. Granted nothing is fair in this whole mess but still. What kind of % would they need to pass this and are there any laws on it?

Those who not wanting to play along have little choise: Mt.Gox go bankrupt and they will have nothing or gox.com will go live and they can sell their mtgoxShares straight away with a big discount.
rikkejohn
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February 28, 2014, 11:05:10 PM
 #36

Nice idea, but given the state of play, and the time Karpeles has had since shutting down, I would be surprised if there is a real database of customers.

Assume Karpeles has deleted records, then surely it would take experts to recover them. Which authority would arrange the recovery?

Karpeles has shown that he is a liar, fraudster with a sociopathic personality disorder. Given that, and assuming it is technically possible, I see no reason why he would not have spent a few days getting rid of people. The unconfirmed accounts would be the easiest.

I don't mind being wrong, and would be interested if someone could explain why it would be impossible for him to have done that.

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V4Vendettas
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February 28, 2014, 11:08:02 PM
 #37

Nice idea, but given the state of play, and the time Karpeles has had since shutting down, I would be surprised if there is a real database of customers.

Assume Karpeles has deleted records, then surely it would take experts to recover them. Which authority would arrange the recovery?

Karpeles has shown that he is a liar, fraudster with a sociopathic personality disorder. Given that, and assuming it is technically possible, I see no reason why he would not have spent a few days getting rid of people. The unconfirmed accounts would be the easiest.

I don't mind being wrong, and would be interested if someone could explain why it would be impossible for him to have done that.

I don't think anything can stop him doing that if he decides to.

shadyz
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February 28, 2014, 11:18:43 PM
 #38

If 1 goxcoin (on the exchange) gets the same of who had 500 gox dollars you can count me in.

I would rather have a shares in a crappy company than have nothing.
I disagree. Dollars are dollars ,goxbtc is traded at the price which the buyers are willing to pay for it.
overc
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February 28, 2014, 11:20:46 PM
 #39

Nice idea, but given the state of play, and the time Karpeles has had since shutting down, I would be surprised if there is a real database of customers.

Assume Karpeles has deleted records, then surely it would take experts to recover them. Which authority would arrange the recovery?

Karpeles has shown that he is a liar, fraudster with a sociopathic personality disorder. Given that, and assuming it is technically possible, I see no reason why he would not have spent a few days getting rid of people. The unconfirmed accounts would be the easiest.

I don't mind being wrong, and would be interested if someone could explain why it would be impossible for him to have done that.

I don't think anything can stop him doing that if he decides to.

According what I have heard about Mark he is trusted and genuine person.
As fact he is not hiding now and still open to public.
The only way for him to save the face and not go to jail is: to save user database and to help the community to create a new gox.com by create the list of shareholders
and provide access for the new CEO to domains mtgox.com, gox.com and to the funds which are left on MtGox accounts.
V4Vendettas
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February 28, 2014, 11:22:18 PM
 #40

If 1 goxcoin (on the exchange) gets the same of who had 500 gox dollars you can count me in.

I would rather have a shares in a crappy company than have nothing.
I disagree. Dollars are dollars ,goxbtc is traded at the price which the buyers are willing to pay for it.

Is an imaginary lost dollar worth more than an imaginary lost Btc considering they are both lost and Imaginary ?

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