4 ms·

"In order to increase repayments to our creditors, it is necessary to explore the possibility of having MtGox Co., Ltd. continue its business." Uh, no. I forma

"In order to increase repayments to our creditors, it is necessary to explore the possibility of having MtGox Co., Ltd. continue its business." Uh, no. I formally advise against this course of action as "hilarious." Who on god's green earth is going to bank their coins in MtGox 2.0?

ekianjo 13y ago
If they shut down completely you may as well say goodbye to all the assets you had with them.
- danielweber 13y ago
  No, shut down completely, now, and the creditors have a chance of partial recovery. Keep on trying to make this a viable business and they will burn through more and more of their assets paying lawyers, accountants, consultants, directors, and managers. If you are one of those latter group, I see why this would be valuable to you. Creditors who are in stage 1 (denial) or stage 3 (bargaining) may still be trying to recreate this as a viable business, but it's like trying to make up for your losses at the roulette table by making bigger and bigger bets.
dustcoin 13y ago
I would, if it had completely new management and new software. MtGox's only valuable asset is their huge number of KYC verified customers.
gst 13y ago
That would be MtGox 3.0. MtGox 1.0 got hacked in 2011 and users of MtGox 2.0 didn't seem to care.
- devindotcom 13y ago
  Actually it would be MtGox 4.0 now that I think about it, since it used to be for trading Magic cards.
  - herokusaki 13y ago
    Was that version ever operational?
    - mbreese 13y ago
      Maybe it was a "private beta" launch before they "pivoted". In all seriousness, no one really knows, but likely not.
    - Flammy 13y ago
      There was a post on the front page a while back which strongly indicated no, other than buying the domain name, no progress was made to actually launch a Magic The Gathering trading card site.
  - crb 13y ago
    https://en.wikipedia.org/wiki/Talk:Mt.Gox#Possible_citogenesis_concerning_whether_MtGox_ever_hosted_an_MtG_trading_site https://en.wikipedia.org/wiki/Talk:Mt.Gox#Possible_citogenes...
    - streptomycin 13y ago
      McCaleb replied to my email. In response to my question "Did anyone ever actually trade card for card or money for card on Mtgox.com?", he replied "yeah they did".
- swalsh 13y ago
  There's a difference though, the last time Gox was hacked, people assumed the loss was coming out of Gox's wallet... now its clear the loss is coming out of everyones (until proven othewise)
sprash 13y ago
Very easy. The price for bitcoins will be very low at that MtGox 2.0 exchange and many people will take the risk and buy themselves cheap coins.
- marvin 13y ago
  This price differential will arbitrage itself away pretty fast if the "new and improved: now with non-disappearing deposits" MtGox is actually capable of transferring Bitcoins to a wallet outside of the exchange.
wmf 13y ago
MtGox: Ponzi Edition. We lost our customers' money but we can make it back as long as we keep trading.

ekianjo 13y ago

If they shut down completely you may as well say goodbye to all the assets you had with them.

danielweber 13y ago
No, shut down completely, now, and the creditors have a chance of partial recovery. Keep on trying to make this a viable business and they will burn through more and more of their assets paying lawyers, accountants, consultants, directors, and managers. If you are one of those latter group, I see why this would be valuable to you. Creditors who are in stage 1 (denial) or stage 3 (bargaining) may still be trying to recreate this as a viable business, but it's like trying to make up for your losses at the roulette table by making bigger and bigger bets.

dustcoin 13y ago

I would, if it had completely new management and new software. MtGox's only valuable asset is their huge number of KYC verified customers.

gst 13y ago

That would be MtGox 3.0. MtGox 1.0 got hacked in 2011 and users of MtGox 2.0 didn't seem to care.

devindotcom 13y ago
Actually it would be MtGox 4.0 now that I think about it, since it used to be for trading Magic cards.
- herokusaki 13y ago
  Was that version ever operational?
  - mbreese 13y ago
    Maybe it was a "private beta" launch before they "pivoted". In all seriousness, no one really knows, but likely not.
  - Flammy 13y ago
    There was a post on the front page a while back which strongly indicated no, other than buying the domain name, no progress was made to actually launch a Magic The Gathering trading card site.
- crb 13y ago
  https://en.wikipedia.org/wiki/Talk:Mt.Gox#Possible_citogenesis_concerning_whether_MtGox_ever_hosted_an_MtG_trading_site https://en.wikipedia.org/wiki/Talk:Mt.Gox#Possible_citogenes...
  - streptomycin 13y ago
    McCaleb replied to my email. In response to my question "Did anyone ever actually trade card for card or money for card on Mtgox.com?", he replied "yeah they did".
swalsh 13y ago
There's a difference though, the last time Gox was hacked, people assumed the loss was coming out of Gox's wallet... now its clear the loss is coming out of everyones (until proven othewise)

sprash 13y ago

Very easy. The price for bitcoins will be very low at that MtGox 2.0 exchange and many people will take the risk and buy themselves cheap coins.

marvin 13y ago
This price differential will arbitrage itself away pretty fast if the "new and improved: now with non-disappearing deposits" MtGox is actually capable of transferring Bitcoins to a wallet outside of the exchange.

wmf 13y ago

MtGox: Ponzi Edition. We lost our customers' money but we can make it back as long as we keep trading.