Breaking News: U.S. Based Group Offers Mt.Gox Acquisition + Revival

[mktrader]

Full story here:

Just Google "WSJ: Investor Group Seeks Court OK to Buy, Revive Bankrupt Bitcoin Exchange Mt. Gox" for this Wall Street Journal (WSJ) Story

So is this also linked with the recent rebound from the $350 price? I can see that BTC is now trading at $400+.

[bbit]

Full story here:

Just Google "WSJ: Investor Group Seeks Court OK to Buy, Revive Bankrupt Bitcoin Exchange Mt. Gox" for this Wall Street Journal (WSJ) Story

So is this also linked with the recent rebound from the $350 price? I can see that BTC is now trading at $400+.

woooo hoooo!!!! I think ??

[Legal Counsel Zhou (PRC)]

no other explanaition. it happened within minutes

[Sindelar1938]

Hmm...I have mixed feelings about any MtGox revival...

[Bit_Happy]

The rally to almost $420 was really fast.
Don't know if it's directly related to the Gox story.

[VolanicEruptor]

Hmm...I have mixed feelings about any MtGox revival...

Why?  It would be under completely new ownership and management.  It would probably even be renamed.

[kolev]

It's not getting bought out (for 1 BTC) - it's just a proposal that Karpeles will turn down. So, fix your title - it's misleading!

[jonald_fyookball]

Hmm...I have mixed feelings about any MtGox revival...

Why?  It would be under completely new ownership and management.  It would probably even be renamed.

maybe they get the lost coins?

[Singlebyte]

It's not getting bought out (for 1 BTC) - it's just a proposal that Karpeles will turn down. So, fix your title - it's misleading!

No kidding!  Fix title...so misleading.  That group only offered 1 BTC for Mtgox.  I can't see that happening anytime soon.

[jparsley]

Full story here:

Just Google "WSJ: Investor Group Seeks Court OK to Buy, Revive Bankrupt Bitcoin Exchange Mt. Gox" for this Wall Street Journal (WSJ) Story

So is this also linked with the recent rebound from the $350 price? I can see that BTC is now trading at $400+.

wow how long did d price stay @ 350

[mktrader]

Full story here:

Just Google "WSJ: Investor Group Seeks Court OK to Buy, Revive Bankrupt Bitcoin Exchange Mt. Gox" for this Wall Street Journal (WSJ) Story

So is this also linked with the recent rebound from the $350 price? I can see that BTC is now trading at $400+.

wow how long did d price stay @ 350

Just for a few hours only.

[mktrader]

It's not getting bought out (for 1 BTC) - it's just a proposal that Karpeles will turn down. So, fix your title - it's misleading!

No kidding!  Fix title...so misleading.  That group only offered 1 BTC for Mtgox.  I can't see that happening anytime soon.

It does not matter as they are taking burden of a major portion of the account holders' investment.

[Singlebyte]

It's not getting bought out (for 1 BTC) - it's just a proposal that Karpeles will turn down. So, fix your title - it's misleading!

No kidding!  Fix title...so misleading.  That group only offered 1 BTC for Mtgox.  I can't see that happening anytime soon.

It does not matter as they are taking burden of a major portion of the account holders' investment.

Your title:
Re: Breaking News: Mt.Gox to be Bought & Revived by a U.S. based Investors Group

Mtgox is not being "bought & revived by a US based investors group".

There was just an offer put on the table according to the article.  I am sure there probably has been several offers already.

http://www.reuters.com/article/2014/04/10/us-bitcoin-mtgox-investorgroup-idUSBREA3922Q20140410
(Linked to reuters because of stupid WSJ paywall blocks some people)

You also forgot to mention this from the article:

"The acquisition must be approved by a Japanese bankruptcy court. However, the near-zero valuation of the proposed deal could prove to be a hurdle, the Journal said."

[mktrader]

It's not getting bought out (for 1 BTC) - it's just a proposal that Karpeles will turn down. So, fix your title - it's misleading!

No kidding!  Fix title...so misleading.  That group only offered 1 BTC for Mtgox.  I can't see that happening anytime soon.

It does not matter as they are taking burden of a major portion of the account holders' investment.

Your title:
Re: Breaking News: Mt.Gox to be Bought & Revived by a U.S. based Investors Group

Mtgox is not being "bought & revived by a US based investors group"

There was just an offer put on the table according to the article.  I am sure there probably has been several offers already.

http://www.reuters.com/article/2014/04/10/us-bitcoin-mtgox-investorgroup-idUSBREA3922Q20140410


You also forgot to mention this from the article:

"The acquisition must be approved by a Japanese bankruptcy court. However, the near-zero valuation of the proposed deal could prove to be a hurdle, the Journal said."

Please note that in OP I have referred everyone to the actual Wall Street Journal article so everyone can read for themselves.

In my view Mt.Gox is eventually going to be bought & revived by a investors group anyways.

Furthermore, almost all acquisitions of bankrupt companies in Japan have to seek court permission. This is common sense.

[Bit_Happy]

Interesting that the WSJ covered this so quickly.
Are they "promoting" this deal for a reason?

[Singlebyte]

Updated title looks lot better Mktrader.  Thanks for revising.

[bryant.coleman]

What will happen to the 650,000 coins which were stolen by Carpeles and his goons? Who is going to compensate the users who lost their coins? I think this is just another ploy by Karpeles to escape from prosecution.

[mktrader]

Why some people are so concerned that worried Mt.Gox investors finally have something to cheer about?


I've now edited the title for more clarity:

Old title:  Mt.Gox to be Bought & Revived by a U.S. based Investors Group

New title: U.S. Based Group Offers Mt.Gox Acquisition + Revival

[bbit]

What will happen to the 650,000 coins which were stolen by Carpeles and his goons? Who is going to compensate the users who lost their coins? I think this is just another ploy by Karpeles to escape from prosecution.

We'll never seen those again regardless who revives Mt. Cocks.

[bryant.coleman]

OK... read the news. So they are planning to compensate the users with about 20% of their lost coins. Much better than the BTCT.co scam, where we received only 2% compensation.