Topic: Open Letter to Mark Karpeles: Voluntary Reorganization Best Option for Us All (Read 7358 times)
March 08, 2014, 06:47:35 AM
i only ask get back my bitcoins. I lost above 1000 btw, 2000 USD.
March 05, 2014, 07:41:26 AM
http://www.reddit.com/r/Bitcoin/comments/1yyrvf/open_letter_to_mark_karpeles_voluntary/
Note: Please Join IRC ##mtgox-statement to join our discussion
Dear Mr. Mark Karpeles,
...
Daniel J. Kelman, Esq.
Note: Please Join IRC ##mtgox-statement to join our discussion
Dear Mr. Mark Karpeles,
...
Daniel J. Kelman, Esq.
Hi Daniel, some similar activity on https://bitcointalk.org/index.php?topic=492748.60 , maybe you can cooperate. Just sending.
March 01, 2014, 06:23:09 PM
The problem is if there are a lot of money lost, there is a chance everyone will get a very small percent.
The original OP plan has a better chance to recover all the money for everyone. Of course it will take time, perhaps years.
But if the lawsuits go through it will take years ANYWAY but everyone will get pennies.
The original OP plan has a better chance to recover all the money for everyone. Of course it will take time, perhaps years.
But if the lawsuits go through it will take years ANYWAY but everyone will get pennies.
The problem with the OP is that it ignores factual reality. MtGox is in bankruptcy (protection), it can't leave that status until the courts agree. Naming a couple hundred thousand (mostly unaccredited) shareholders to a private company isn't legal in Japan (or most places) and the courts are going to sign off an an illegal re-organization.
March 01, 2014, 06:20:30 PM
The problem is if there are a lot of money lost, there is a chance everyone will get a very small percent.
The original OP plan has a better chance to recover all the money for everyone. Of course it will take time, perhaps years.
But if the lawsuits go through it will take years ANYWAY but everyone will get pennies.
exactly! The original OP plan has a better chance to recover all the money for everyone. Of course it will take time, perhaps years.
But if the lawsuits go through it will take years ANYWAY but everyone will get pennies.
legendary
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March 01, 2014, 05:51:43 AM
This is one possibility among many but I do like the general premise of it fight on fight on to bring about positive change.
February 28, 2014, 07:57:19 PM
The problem is if there are a lot of money lost, there is a chance everyone will get a very small percent.
The original OP plan has a better chance to recover all the money for everyone. Of course it will take time, perhaps years.
But if the lawsuits go through it will take years ANYWAY but everyone will get pennies.
The original OP plan has a better chance to recover all the money for everyone. Of course it will take time, perhaps years.
But if the lawsuits go through it will take years ANYWAY but everyone will get pennies.
February 28, 2014, 05:43:27 PM
ok so there is no-one in this chat room: #mtgox-statement 
I am actually doing something real about this:
This is my latest letter from my Lawyer:
-------------------------------------------------------------
Dear Mr. X,
OK. We’ll send the bill to you tomorrow or Monday morning.
MG applied not bankruptcy, but restructuring or rehabilitation.
You can’t file a lawsuit anymore, but you can claim your right as the creditor and participate the procedure through a lawyer ( the lawyer of MG said there’s still some assets in the bank ).
Regards,
Z
-------------------------------------------------------------
Sound's interesting. I will definitely do this. If you want to join us, please PM ME ASAP.
I am actually doing something real about this:
This is my latest letter from my Lawyer:
-------------------------------------------------------------
Dear Mr. X,
OK. We’ll send the bill to you tomorrow or Monday morning.
MG applied not bankruptcy, but restructuring or rehabilitation.
You can’t file a lawsuit anymore, but you can claim your right as the creditor and participate the procedure through a lawyer ( the lawyer of MG said there’s still some assets in the bank ).
Regards,
Z
-------------------------------------------------------------
Sound's interesting. I will definitely do this. If you want to join us, please PM ME ASAP.
February 28, 2014, 02:41:27 PM
This is the simple and straight-forward plan how to ressurect Mt.Gox:
https://bitcointalksearch.org/topic/resurrection-of-mtgox-492748
https://bitcointalksearch.org/topic/resurrection-of-mtgox-492748
February 28, 2014, 01:01:19 PM
sorry for your loss.
i think this is the second time i pressed the ignore ...
Now back to our point.
I find it good in conditionds..... what are the news so far?
yeah well, first come denial and isolation as explained in the article. *whatever. Have a nice time bargaining.
February 28, 2014, 12:58:46 PM
Note: Please Join IRC ##mtgox-statement to join our discussion
is this IRC Channel on EFNET or what? I am sitting in an empty channel.
February 28, 2014, 12:31:57 PM
sorry for your loss.
i think this is the second time i pressed the ignore ...
Now back to our point.
I find it good in conditionds..... what are the news so far?
February 28, 2014, 11:24:51 AM
i am just going to post this here:
http://psychcentral.com/lib/the-5-stages-of-loss-and-grief/000617
sorry for your loss.
http://psychcentral.com/lib/the-5-stages-of-loss-and-grief/000617
sorry for your loss.
February 27, 2014, 04:06:58 PM
Existing bearer bonds and shares are not illegal but it is no longer legal to issue new bearer shares and bonds in virtually all countries. Maybe somolia allows it but even many offshore locations revised their statutes in the last couple decades. There are a lot of outstanding US treasury bearer bonds. They no longer pay interest but they are normally used as a "reallllly" big cash note so they probably will never be redeemed.
BTW: Nevada prohibited the issuance of bearer shares in 2007.
http://law.justia.com/codes/nevada/2010/title7/chapter78/nrs78-235.html
Sure if the blockchain can verify the identity of all shareholders, collect and store required information, ensure shareholders are accredited before issuing shares, enforce restrictions on transfers for private placements as required by securities laws, and file all necessary documents with regulators in a timely manner.
BTW: Nevada prohibited the issuance of bearer shares in 2007.
http://law.justia.com/codes/nevada/2010/title7/chapter78/nrs78-235.html
Quote
edit: is it possible to create a blockchain based registry of ownership and not have them be bearer shares?
Sure if the blockchain can verify the identity of all shareholders, collect and store required information, ensure shareholders are accredited before issuing shares, enforce restrictions on transfers for private placements as required by securities laws, and file all necessary documents with regulators in a timely manner.
DeathAndTaxes:
What if a settlement was done where gox account users take a haircut, for the haircut they get a corporation in the Marshall Island which owns MtGox or a large percentage of it.
That corporation could do bearer shares.
I have no idea for numbers of value, but surely that would be more valuable then trying to extract cash via bankruptcy + overhead of lawyers.
Anything is possible. Someone genuinely interested should be getting counsel from a lawyer with experience in international securities.
February 27, 2014, 03:51:19 PM
Existing bearer bonds and shares are not illegal but it is no longer legal to issue new bearer shares and bonds in virtually all countries. Maybe somolia allows it but even many offshore locations revised their statutes in the last couple decades. There are a lot of outstanding US treasury bearer bonds. They no longer pay interest but they are normally used as a "reallllly" big cash note so they probably will never be redeemed.
BTW: Nevada prohibited the issuance of bearer shares in 2007.
http://law.justia.com/codes/nevada/2010/title7/chapter78/nrs78-235.html
Sure if the blockchain can verify the identity of all shareholders, collect and store required information, ensure shareholders are accredited before issuing shares, enforce restrictions on transfers for private placements as required by securities laws, and file all necessary documents with regulators in a timely manner.
BTW: Nevada prohibited the issuance of bearer shares in 2007.
http://law.justia.com/codes/nevada/2010/title7/chapter78/nrs78-235.html
Quote
edit: is it possible to create a blockchain based registry of ownership and not have them be bearer shares?
Sure if the blockchain can verify the identity of all shareholders, collect and store required information, ensure shareholders are accredited before issuing shares, enforce restrictions on transfers for private placements as required by securities laws, and file all necessary documents with regulators in a timely manner.
DeathAndTaxes:
What if a settlement was done where gox account users take a haircut, for the haircut they get a corporation in the Marshall Island which owns MtGox or a large percentage of it.
That corporation could do bearer shares.
I have no idea for numbers of value, but surely that would be more valuable then trying to extract cash via bankruptcy + overhead of lawyers.
February 27, 2014, 11:06:19 AM
February 27, 2014, 10:07:21 AM
I like the idea.
February 27, 2014, 09:40:08 AM
It's difficult for such a big number of gox users to agree on the way to proceed after the fiasco, but Daniel's proposal sounds ok to me.
I'm in.
I'm in.
February 27, 2014, 09:20:49 AM
I disagree to let Mark keep the exchange. And convert debt to shares in this incompetent business CEO Mark is a dumb idea.
Let Mt.Gox go bankrupt. This will allow for more responsible businesses to take the market.
Let Mt.Gox go bankrupt. This will allow for more responsible businesses to take the market.
February 27, 2014, 09:12:33 AM
That is the purpose of bankruptcy. If MtGox can pay creditors 20% of what they owe then they are all paid 20% not some 100% and some 0%. The big unknown is how the Japanese courts will treat bitcoin.
Yes, but IF they lost most of the money, than there is a chance all the users will get 5 dollars compensation. Which of course will be pointless. BUt with the OP plan, there is a chance the users will get much more.
A properly functioning exchange can win a lot of money from fees.
Agreed, forget the limitations of the existing financial system. This is bitcoin. Those coins went somewhere. It's not like they can't be traced and discovered. It might be an extremely difficult audit but bitcoin itself makes it POSSIBLE.
If the coins can be identified there are all kinds of solutions that could be instituted on a social and technical level. I am pretty sure a HUGE part of the bitcoin investment community losing a HUGE investment doesn't benefit ANYONE. So i don't see how the community at large can't simply agree that we don't accept the loss. We have the ability to return the investment in one way or another.
February 27, 2014, 08:55:11 AM
That is the purpose of bankruptcy. If MtGox can pay creditors 20% of what they owe then they are all paid 20% not some 100% and some 0%. The big unknown is how the Japanese courts will treat bitcoin.
Yes, but IF they lost most of the money, than there is a chance all the users will get 5 dollars compensation. Which of course will be pointless. BUt with the OP plan, there is a chance the users will get much more.
A properly functioning exchange can win a lot of money from fees.
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