Topic: Gox' Class action? [NOTE GOX STOPPED TRADING MOMENTS AFTER THIS WAS POSTED] (Read 4204 times)

Now, take a deep breath, lean back - and read again what you just write. Do it make sense to you ?


In a perfect world they would not advertise it as such. However, when growing up, most people learn the world is not black and white, but comes in shades of grey. There are countless companies that make promises they can't hold. Happens every day. I guess you're the same kind of person that would complain if you couldn't have a burger at 21:58 at your local burger place because the sign said they closed at 22:00.



Sure it is. If you are not satisfied, then withdraw everything you have there and stop giving them business, if you think that is a better solution. Suing them, which is something you won't do anyway - will serve no purpose, and you won't win. In fact, I don't even think you have a case.

so your going to make good for all the people that could not execute orders in the market when they needed too then? while gox has on their front page 24/7 brilliant system???

nice sentiments, but this is people money/BTC we are talking about

Surely, you're joking about the two mac mini's. I'm ignorant on this sort of thing, assuming Mt Gox is using a conventional server(s).

Somebody please enlighten me as to what type of server(s) they are using. Inquiring half-a-mind wants to know.

Instead of creating extra stress, hostility and hatred within the community, and attacking existing bitcoin companies, why don't you contribute into making something better yourself ?

As of now, Gox is working hard to upgrade and improve their system. If they're not up to the task in the long run, the market will evolve, and new exchanges will pop up and volume will move there.

It's quite an asshat move to attack MtGox like this. You may have personal opinions in regards to their incompetency or whatnot, but actually suggesting a class-action at this point will do the community no good.

MtGox has done many errors, and will most likely continue to do so, which opens opportunities for other players. At least, they've started to communicate better with the user base, and that is a good sign.

Also, users must understand that from a technical perspective, things are not done over night. It takes time. It is very easy to sit here and point the finger at MtGox and complain for various reasons. It doesn't help much. The situation is what it is, and then we need to move forward.

I'm sure MtGox at this moment in time see that they should've scaled earlier. Now, I guess some people have a good business sense, and see problems before they arise, but some people do not have this sense.

Hassling MtGox with stuff in the legal system at this point will do absolutely no good. And what exactly will you sue them for ? The fact that they did not take adequate action to scale their systems because, they in your opinion should've done so ?

I agree they should've done so, but as MtGox wrote on the recent reddit interview, these things does take time. Perhaps they should've halted new registrations, perhaps they should've looked into things to streamline and optimize their current business, and afaik, they are looking into these things, but it all takes time.

Wait, wut?  Did you get a loan on your car to buy bitcoins?

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Mark Karples is a good man, but he is not a good business man. He basically got this situation thrown into his lap, and as you say, this could've been handled differently - perhaps denying new accounts until their current systems got upgraded. Then users would seek out other exchanges, and Gox would lose market share, but as it is now, they wanted everything, and may end up with a lot less than everything - it seems like many people are very discontent with the current situation. But then, speak with your wallets, and move to another exchange.

A class action will not lead anywhere though.
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here on the front page of Gox is a core issue they hold out

We're always on. Buy and sell Bitcoin 24/7/365 with the world's most sophisticated trading platform.

Mark Karples is a good man, but he is not a good business man. He basically got this situation thrown into his lap, and as you say, this could've been handled differently - perhaps denying new accounts until their current systems got upgraded. Then users would seek out other exchanges, and Gox would lose market share, but as it is now, they wanted everything, and may end up with a lot less than everything - it seems like many people are very discontent with the current situation. But then, speak with your wallets, and move to another exchange.

A class action will not lead anywhere though.

whatever it takes to get my car back

MtGox has been Goxxing their customers since 2011 when they bought out Magic The Gathering Online Xchange from the American who ran it as a hobby and was paranoid of getting sued over held scammer coins and unknown US regulation. If you continue to use them you can expect to be Goxxed again and again. Suing Japanese companies = impossible so good luck with that. You can sue Coinlab when they start up partnership and inevitable Goxxing occurs.

If they were closed for 12 hours i wouldn't care.
I would if i left my wallet in the car, but that's my own fault.

Also, if you can't trade, they can't make fees, so you're not 'paying', dig?

What do you propose?
Class action against them?
Take a gun and kill them all?

Huh.

take your car for service

car repair shop closes down for a month

you just going to do nothing?

Obviously, they should have done something sooner.  There were signs of overload for days.  They would have had to halt trading at some point.  I won't speculate on their reasons for not addressing the issues sooner.  My point is that any legal retribution against them opens the floodgates.  The legal system involves the government court system.  That would be bad for the BTC community.  What would be good is if the community could help prevent this type of problem from happening in the future.  I think the services rating system linked in this thread is a good idea.

I don't really see your point here.
Why do you want to sue them?


Fucktard americans are so stupid.


Even if they want to close the trades for 1 month, if they put the website down because :
- they are experiencing problems
- they want just to
- or whatsoever reason

What do you want to reproach them?


They do not need to be up every single second, and to offer a good service. They offer what they want to offer, and if you're not happy with that just gtfo.


Thank you

Simple question: If they weren't prepared enough, why did they let the ppl in? was the profit they were generating not enough? They placed greediness over risk management? And if gox disappears after a class action, its still a sign for the other exchanges

Umm... the bar wouldn't let the people in. They have a limit by ordinance how many people can be inside. Those people would be waiting outside until some left from already being there. The line would go for who knows how far. Does anyone live in Vegas? Did anyone go to the stupid pawn stars shop before it had a tv show? Now, only so many people can be inside at one time. So, a line wraps around the building...

If mtgox can't handle the new people don't let them use the trading system until it is first upgraded...

Didn't noticed this yet but business as usual...

THE SHIT HAS TO HIT THE FAN REAL HARD BEFORE CHANGES HAPPEN

this was the 2nd time, the first gox incident didn't affect as much common ppl as this one now. Fingers crossed BTC will get a 3rd chance now by the time!

Oh, and btw, there are better places for trading currencies against each other. It's called FOREX and most brokers offer accounts with 200$ or 300$ deposit as minimum

You can't have it both ways.  Bitcoin is designed to be a self-regulating currency.  I understand that people who have a large exposure to BTC (I don't) would be very upset.  This exchange was not prepared for the large increases in volume.  Blame it on media hype or Cyprus or whatever.  The fact is that these exchanges provide a valuable service to trade BTC.  If you don't like it, start your own.  A lawsuit against an exchange might set a precedent for all BTC businesses.  Once you get lawyers involved in BTC, it will die shortly.

I suggested precisely this earlier today, not that anyone cared then

https://bitcointalksearch.org/topic/m.1800224