SaveGox.com

[freedombit]

Hey guys!

I'm on the SaveGox team. If you guys have questions for the team, please post them.

I'm opening this thread because Goat closed the other one.

Thanks,

-Jon

Will your investment provide enough injection to cover the negative balance of lost deposits if there is one?

If not, then I have a second question.

How will the new exchange offer complete transparency to its books and balances?

Hi Jon. Still seeking answers to these questions.  Will DEPOSITORS receive the full amount of lost deposits back - whether in the form of Bitcoin or FIAT. It appears that your plan will convert Bitcoin to Fiat based on some valuation.

[sobriket]

Total ripoff confirmed!

http://www.reddit.com/r/Bitcoin/comments/248trz/mt_gox_class_action_lawsuit_important_announcement/ch4tk5d

[sobriket]

Hey guys!

I'm on the SaveGox team. If you guys have questions for the team, please post them.

I'm opening this thread because Goat closed the other one.

Thanks,

-Jon

Will your investment provide enough injection to cover the negative balance of lost deposits if there is one?

If not, then I have a second question.

How will the new exchange offer complete transparency to its books and balances?

Hi Jon. Still seeking answers to these questions.  Will DEPOSITORS receive the full amount of lost deposits back - whether in the form of Bitcoin or FIAT. It appears that your plan will convert Bitcoin to Fiat based on some valuation.

the leeches will first take $10 million out if they have their way. No way.

[sobriket]

From http://www.reddit.com/r/Bitcoin/comments/248trz/mt_gox_class_action_lawsuit_important_announcement/ch4tk5d

This is a terrible, disgusting deal. Read the actual press release and see that those Sunlot bastards still try to take $10 million out of the existing assets and even try to reward themselves even more in the process of doing so.
"An Administration and Prosecution Fund would manage customer interests and the recovery of the approximately $275 million of stolen customer assets. Capitalized by $10 million (3.6% of stolen assets) in MtGox cash held in trust by Nobuaki Kobayashi, the administrator appointed by the Tokyo District Court, the fund would conduct forensic investigations and pursue prosecution of perpetrators. An incentive bounty of 10% of recovered assets would reward those participating in the recovery."
All this is a direct contradiction of things they've stated in their 'support gathering phase'.
They've shown themselves for what they are - vultures that can only get what they want through litigation or the threat thereof, of minor defendents. They pick on the half-dead bodies of affected creditors and try to suck out as much of the meat out of them as possible. Meanwhile, they tout themselves in the press as the saviours of the bitcoin economy.

[btc237ftw]

I just saw:
https://www.mtgox.com/img/pdf/20140424_order.pdf

Doesn't that mean there is now no more hope for a buyout? / bail out such as savegox?

Sorry if this is a stupid question, but I did not update for a few days,

Thank you

[gizmoh]

Gox customers will be scammed twice if this plot goes through:

Only 16.5% stake to customers
While a hefty $10m of customers money is misappropriated for investigation/audit.

Its a sweet deal only to sunlot shareholders, all that for the cost of 1 btc..

[cloon]

@ John

There's a statement i really'd like to have confirmed:

It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action

is this true? I live in Switzerland and you will just keep my money cause i'm not from US/Canada?
I really apreciate the efforts you do, but there are so many informations, that make you less and less trustworthy.

[sobriket]

@ John

There's a statement i really'd like to have confirmed:

It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action

is this true? I live in Switzerland and you will just keep my money cause i'm not from US/Canada?
I really apreciate the efforts you do, but there are so many informations, that make you less and less trustworthy.

of course not (not just for US creditors). Gee, MtGox isn't even American. Read their press release. I suggest you visit the reddit thread I linked above.

[Inspire]

Hi Jon,
Q1) Will you be using new software or are you going to use existing software for the bitcoin trading platform?
Q2) Are you the Jon that was in the Google Hangout Talk? (https://www.youtube.com/watch?v=9vxJNgLibP4)

[JorgeStolfi]

Mr. Gay-Bouchery and Mr. McCaleb are said to be defendants in the earlier class-action suit (whose terms I have not had time to read yet) and to agree with this plan.  If this deal is approved by the court, will they be freed of any responsibility for their roles in MtGOX's collapse?

[JorgeStolfi]

Also, how can we trust that a private investigation by the new management into possible wrongdoings at MtGOX will be carried out earnestly and impartially, in the best interest of the former customers, and without regard for who the guilty parties may turn out to be?

Theft and fraud are common crimes that must be investigated by legitimate authorities.  The "bitcoin community" has no right to declare itself outside the reach of the law.

[CompNsci]

Hey guys!

I'm on the SaveGox team. If you guys have questions for the team, please post them.

I'm opening this thread because Goat closed the other one.

Thanks,

-Jon

Mr. Holmquist, I must admit I have to admire your nerve (some would say temerity) to post here.

I agree with Nagle, perhaps let's first get the criminal and background records on the team.

Perhaps you can also clarify then when Bruce Fenton first became aware of the financial troubles at Mt. Gox? And precisely what information was made available to him on that date? And more specifically, whether it included any information which would have led a reasonable person to believe that Mt. Gox had lost customer funds. I am very curious about this latter question, as I imagine a number of courts may be as well.

[CompNsci]

Well I didn't ask about the info after an audit. That's just a story, and we've had enough stories. The bitcoin community has proven themselves to be the best at auditing the block chain. No amount of 'professionals' you throw money at will convince us that the story you're telling us is true unless you release ALL of mtgox's wallet addresses.

Yes, exactly, if these people are serious then release the wallet addresses that were lost/stolen. It is simple enough, and they will be found eventually in any case.

[Nagle]

The "class action" has never been certified by a court as representing US and Canadian investors. That requires notice to all class members (not just publication) and an opportunity to opt out.  So they don't represent anybody but themselves.

On the other side, there's Sunlot, with no money, no business history, and questionable people involved.

That they made a deal with each other doesn't mean much.

[btcusury]

Regarding the issue of trust, it's a simple matter. Who'd you rather have decide the fate of MtGox and your missing funds? Karpeles, crypto-clueless Japanese lawyers, or Bitcoin entrepreneurs with a record of experience in the crumbling financial world? Hmmm, tough choice.

[Phinnaeus Gage]

Regarding the issue of trust, it's a simple matter. Who'd you rather have decide the fate of MtGox and your missing funds? Karpeles, crypto-clueless Japanese lawyers, or Bitcoin entrepreneurs with a record of experience in the crumbling financial world? Hmmm, tough choice.

It's worst than you think! How about entrepreneurs with records of fraud and experience in the crumbling financial world opting to carry over said expertise over to the cryptocurrency realm? The only thing left to add is Disney. Oh, wait...

[btcusury]

Guess I've missed the records of fraud, then. All I've seen is one allegation about one of the Sunlot people. Care to post a link with the full info about fraud?

[Praeconium]

@ John

There's a statement i really'd like to have confirmed:

It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action

is this true? I live in Switzerland and you will just keep my money cause i'm not from US/Canada?
I really apreciate the efforts you do, but there are so many informations, that make you less and less trustworthy.

I am also from Europe and have stake. I do not understand how could that be possible? MtGox owes to everyone with equal rights.

If so, Europeans and other nations should organize and make appropriate claims so that we do not end up with nothing.

Could anyone from Sunlot confirm that nationals other than Canada and US will not be counted as creditors? Or that Sunlot will not compensate them in any manner?

[btcusury]

Could anyone from Sunlot confirm that nationals other than Canada and US will not be counted as creditors? Or that Sunlot will not compensate them in any manner?

I've assumed that this must be dis/misinformation, because like you said, it doesn't make any sense.

[Praeconium]

Could anyone from Sunlot confirm that nationals other than Canada and US will not be counted as creditors? Or that Sunlot will not compensate them in any manner?

I've assumed that this must be dis/misinformation, because like you said, it doesn't make any sense.

Me too but such disinformations should be stopped and they keep on throwing words "creditor support" which is not helping as I am sure that not all big players were from US/Canada, and I haven't heard about Class Action Suit up until now..

They somehow made agreements between themselves without having proofs of each person stake in it? And definitely without talking to ALL creditors, as this is unreasonable to be made but it should be public knowledge (maybe it is?).

I agree bankruptcy is not a solution and debt swap is good idea but there needs to be more explanation from them, even if they are trying to get MtGox only for US/Canada customers, other creditors have to know this information, or else they'll get screwed.