Topic: Copy of the alleged MTGox Crisis draft strategy (Read 7410 times)

It's always been called a "leaked" document in the press, purporting to represent the true status of Mt. Gox's affairs at the time.

The whole story that hackers had been skimming bitcoins for years seems a little bit too convenient. Also, $27 million in cash has also admittedly gone missing. That can't be attributed to any "software bug", as these must have been in bank deposits.

It kind of makes you wonder about banks such as Mizuho Bank, which had been its main bank in Japan, when they go lose $27 million of a depositor's money.

Who has that dough now? Find out whoever that is, and it will probably lead to the thief who also made off with the 650,000 BTC gone missing.

This document was real but not written by Gox/Karpeles but some other party. 

Perhaps you are being too generous.

I didn't think it was legit for a long time. But after reading the latest stories about the almost unfathomable incompetence at Gox, I think we can reasonably suppose this laughable document to be a genuine, official Gox report.

after reading some of the posts by others I'm getting feeling this is not a legit document.  Anybody please feel free to let me know if I'm mistaken,, thanks.

Given that 650K BTC are admittedly still missing, why isn't the most logical assumption that we are witnessing a bank heist of epic proportions that is still underway, and that this supposed "Crisis Strategy Draft" is merely a piece of disinformation dropped by the thieves to cover their tracks?

So every journalist will start reading at 750k bitcoins and stop reading at "set back for 5-10 years" - thanks for that strategy writer

https://bitcointalksearch.org/topic/gox-crisis-management-plan-confirmed-legitimate-487829

can anyone succesfully log in and see the order book on bitcoinbuilder? think it's been hacked due to maliability

Indeed, I think the article only does only one thing; lends legitimacy to the idea that gox is being taken over. It suggests to me that the other exchanges are so desperately afraid because they know that if gox is brought back, then there number one competitor is still in the running.

So the acquisition part is probably true, but I suspect those number shave been fudged as an attempt to try and kick gox while they are down so to speak.

Course I haven't ruled out that it's all true, and whilst the numbers might look scary big to bitcoinland, there are nothing in the grands scheme of things. Not to mention that there is no need for any high drama. What has happened is still well within the realms of general incompetence, which gox appears to have plenty of. If that's the case it is no surprise to me that somebody with deep pockets is quite happy to bankroll the losses, because they know that when run properly gox is a money printing machine.

A ready made 100k customer base, those 0.5% trading fees stack up. If there is another x,000% run up in BTC price then all of a sudden few hundred million liability on the glance sheet is chump change compared to the revenue that a revitalised gox could pull in.

There are people in the world with very deep pockets, How much do you think MK got for gox $1m, $10m ... $100m even? A would be purchaser would otherwise find it a nightmare trying to deploy that much fiat to buy BTC on the open market. Why not just buy the exchange, then you *know* they aren't going to run off with your cash And if everyone panics when they flip the on switch then you can just buy up all that cheap ass BTC, as well as collecting the trading fees!

This is business, its just how shit goes down. All the headless chickens running around the place shouting the sky is falling need to step outside the bitcointalk forum sometime, and take a look at the big wide world out there.

I agree it reads like BS but why would Gox react to it the way they did? It doesn't make sense. Perhaps they can't come out with the truth because they're halfway in negotiations for a takeover but either way something isn't right. I would still bet a real bitcoin that they didn't actually get taken for 750k via the malleability issue though.

The document is so clearly fake that I can only assume Two-Bit-Idiot, the "reputable" writer for Coindesk, is in on the FUD.

If you read his blog he's busy spinning the wildest doomsday scenarios, the "rabbit hole runs deep" bullshit:

http://two-bit-idiot.tumblr.com/

Seriously I find it hard to believe that no-one has known the real situation at Gox for weeks and then suddenly Two-Bit-Idiot comes along with a hyperbolic document and assurances that he has confirmed all the figures with "multiple sources" close to Gox.

Coindesk then pumped his stuff. They should be brought to task over this.

Gox would need a total enema and move to Singapore (the new Swiss banking) for people to go back there.  And also to see Karpeles on the other side of hell as well to be sure he isn't anyway associated with them

I dont have anything in Gox.. just have a Yubi Key as a keepsake

Do you think a single person on there doesn't know this? Why would you buy something if you don't know what it is? Either way, if Gox never comes back whatever you buy there now will be worth zero. So it doesn't really matter that it is currently impossible to add more Goxcoins or withdraw them.

This is a great post, and I couldn't agree more.

I'm in the camp that would say that the malleability issue could not account for the shutdown. Gox is incompetent, but "losing" (or losing track of) that many coins just doesn't seem believable.

Just a bit concerned about the "plan", that's all.

This leaked document seems to be coming true.

What an amazing business plan.