Topic: [POLL] Which plan do you prefer for the GOXcase? (Read 3975 times)

Another question. Do you guys have a link to the agreement between the litigation lawyers and the Savegox guys?

And some more questions:

• From the perspective of a creditor does it make sense to join the class action? What should be the benefit?
• In an earlier article of coindesk http://www.coindesk.com/investor-group-offers-buy-mt-gox-one-bitcoin/ it said: 2The investor group pledged to set aside 50% of transaction fees to pay back creditors over time." Is this off the table?
• Where does all the money for the investments come from? Will there be further dilution of the 16.5%? Will the investors just take the cash they find at Mt.Gox?
• What do the investors bring to the table?

What are the sources of OKCoin being interested?  I have used google to find out more. However the only source I have found was a discussion of rumours on reddit.

http://www.savegox.com/?page_id=35

Why Sunlot (savegox) sais that OKCoin is with them?

Our Bitcoin is already gone.  Anything recovered at all would be a miracle at this point.

As for a US based company taking over that scares me more than a Chinese one by a considerable margin.

The Chinese may spy on you and/or steal your coin.
The US will spy on everyone and will probably seize the entire exchange the second they can prove a drug dealer (or worse a copyright infringer) used the exchange.  Their asset seizure laws are insane and collateral damage is fun to their government.....

The US government is not here to save us or help us.  Just screw us.  Im stumped as to why anyone wants anything BTC anywhere within their reach at all.

as a Chinese, I think Okcoin is not believable.

I agree with "thresher". I definitely do not want okcoin, or any company not based in the US to take over.
Lets not get our recovered btc stolen twice.

Agree, they think they are first, also insiders also they hope no one else is interested in taking on new exchange from mtgox name/creditors...

I think and hope there is more parties not just Okcoin so the real offer can be made

Fro my point of view even empty gox name is worth some and 500k + user base a lot more!

Most of my information comes from IRC and the live video chat in which Sunlot were participating

They did confirm that after an audit any coins (the 202k BTC) would be distributed to accounts and could be withdrawn immediately.

There is a link here with lots of information : http://www.savegox.com/?page_id=35

The main point of contension appears to be that the initial Sunlot plan was designed to screw over the MtGox account holders but they have now 'changed their tune' as it backfired on them when people voiced their disdain for this plan.

From IRC I have read that OKCoin are also almost ready to make public their plan, they have been saying this for about a week now though.

Sounds interesting if your correct.  Would love some links on this. 

I would throw my meagre 10BTC of support behind such a plan.

I read that the OKCoin plan was to return all 202k BTC immediately, exactly the same as the Sunlot plan. The only difference being the equity assigned to MtGox customers.

The equity offered by OKCoin would be 49% of MtGox as opposed to 16.5% of Sunlot, this is how I understand it to be right now.

Further details have yet to emerge.

Must say the bias in the OP was amazing.  No wonder the votes gone the way it did.

As one of the goxxed (who spent 4 months trying to get his money out before gox folded) i have been paying attention.

Anarchystar (Mtgoxrecovery?)
Liquidation is final and we are going to take a massive haircut.  If we see 10% by the time everyone gets their cut i would be amazed. 0-5% is more likely.  So mtgoxrevovery seems like a horrible deal.  They did manage to get Mark out of the picture so we owe them massive gratitude. 
The main people now supporting this plan are people who just want gox gone at all costs.  Generally as long as its not their cost.

Savegox
These guys plan a rebuild.  Existing BTC (minus some for expenses) will be returned to users on a % basis.  The remaining owing will be funded over time out of a portion of trading fees.  The aim being to eventually return all BTC.  Also thrown in will be a 16.5% of ownership to the users who got goxxed.  They plan to expand gox and have all new software (they claim its coded and good to go) and ownership.  Looking to investigate the location of the missing BTC and willing to pay a 10% finders fee on anything recovered to the finders.
Only investing a token 1 BTC though for 83.5% of the company.
Supported by those who believe gox without Mark could and should make money in the long term.  Also those who will be very happy to see approx 20% of their coin returned almost immediately.  More than they could reasonable expect under liquidation.

Im amongst those interested in the savegox option.

OkCoin
I know very little about the OkCoin plan.  Any info appreciated.
They have experience which is good but probably are in this for themselves alone.
According to what you wrote they plan similar to savegox but only plan to return half the BTC to users.  This seems to be an absolute zero risk option for Okpay if thats the case because they can fold the company a day later and be up 100k BTC for zero effort....
Without more info im staying well away from such a plan.

The information about the savegox information is so wrong it's just a complete fail.


According to the offer people will get their share of the 202k Bitcoins and 16.5% of equity in the US parent corporation which would control MtGox.

The idea behind this is that the US corporation (Sunlot) would expand around the world by opening up more exchanges and this 16.5% of equity will be worth a lot more than the entire 49% of MtGox.

How that would work out remains to be seen. Sunlot could open further exchanges under a different company and there would be nothing anyone could do about it.

I'd rather hand the business to anarchystar than to this car load of crooks that are savegox.
Savegox looks extremely shady and very suspicious, and what Phinnaeus gage revealed some days ago about Brock Pierce (AKA Brock Rector) is extremely frightening.

OkCoin is by far the best plan we have, however we didn't hear anything from them...

So okcoin is crushing in this poll with all the other stuff going on 
...and we wonder why people don't have faith in bitcoin

Also, Anarchystars "plan" is http://www.multisig.com which is a big step in helping out. Sure, he doesn't have this mega lawyer document plan like the others, but at least he is doing something.

THIS.

I don't know what to think anymore..   

Take a look at this:
https://bitcointalksearch.org/topic/proposal-for-mtgox-depositors-and-the-general-bitcoin-community-590160

Sounds like the options aren't very good to choose from?  I'm not really sure what the facts are about this with all the FUD these days.

bump

The US does not steal your funds, they freeze your accounts and spy you through the NSA!

I hope the recovered MtGox is not in US, more like europe or asia

Relax, *burps*, so what are you talking about?

Not at all.  Facts are facts, and I wouldn't even put a dogecoin through a Chinese exchange at this point with all the bs that goes on there.
Plus an exchange in the US is held to some from of regulation, apparently Japan doesn't have laws in effect for when a ceo "loses" billions of dollars. 
Your welcome to do what you want when you trade your coins, just pointing out what has happened.
When a new Chinese company gets shut down by the government, good luck getting your coins.

I'd like to go with the OKCoin plan as well.

Hi Cloon. The poll is a great idea gauge the general census of the community, but your bias is clear. Each of these entities brings something good and each is lacking as well.

I’d like to see all three of these “groups” come together to form a single entity that oversees a rehabilitation program. I can see a board including one representative from each of these entities, as well as maybe one or two other key people – vested interest or not. Maybe Andreas or Gavin (since Satoshi seems to be out of the question. Although, maybe we should invite Dorian Satoshi Nakimato just for fun.

 This is what I’d like to see for the good of all (MtGox Depositors and the Bitcoin community at large).
OkBit – You have legal knowledge, and more importantly, appear to have been in the trenches of Bitcoin doing development work. You understand the full potential of the platform, beyond the currency. You may lack the political power and capital investment, but if you can gain the help of the others here and set the direction, you will not fail.

Savegox – You can clearly bring cash and political power, but you’ve not gained trust in this community which is absolutely essential to lead. Still, you can bring a lot to the table with your experience and resources. You should and will be fairly compensated for this if you take a second seat, even while holding a larger stake. More importantly, this will not fail.

AnarchyStar – You have heart, soul, and a big list of followers. You can bring the sorely needed trust to the situation by being the watchful eye as the entire operation unfolds. Keep asking questions and reporting to the community at large and you will not fail.

Together, these three can actually have a powerful team. More importantly, it would say a lot about Bitcoin and we can potentially move on much more quickly with cooperation rather than competition. Bitcoin needs this now. Make it happen guys.

Do not forget the BIG picture.

On another note, here is a plan that all of you might find to be fair:
https://bitcointalksearch.org/topic/proposal-for-mtgox-depositors-and-the-general-bitcoin-community-590160

Exactly. That's why it's an awful deal.

It's premature, too. The Tokyo court's trustee has only been in charge for a week. He should have a month or two, along with the Tokyo cops, to turn over all the rocks, bring in experts to look at the data, and find out where the money went. It went somewhere. It didn't just disappear. The trustee has all of Mt. Gox's records and all their employees, plus the authority to work with cops.

There are people who are saying this is "too technical" for a bankruptcy trustee. It's not. What bankruptcy trustees do all day is look at the records of businesses that screwed up and reconstruct where the assets went. if computer experts are needed, there are people available in Tokyo. Ones who are a lot better than Karpeles, who was a third-rate PHP programmer.

It's almost as if SaveGox doesn't want a full investigation they can't control. After all, they're letting two of the founders off the hook, and previously tried to make a deal with Karpeles. What I suspect the SaveGox people want to do is take over, "find" the missing Bitcoins and cash, and keep it. The former customers would only have a 16% stake at that point, with SaveGox having no obligation to return funds to them.

Has nobody else noticed that Savegox does not risk any of their own money?  Their proposal instead would risk $10M of the creditor's cash.  They take 83.5% equity at zero risk to themselves.  That is quite inappropriate.

seriously... superiority complex?

I definitely do not want okcoin, or any company not based in the US to take over.
Lets not get our recovered btc stolen twice.

i chuckled a bit at your descriptions. 

regardless of any plan a full audit needs to happen where we know where all the coins went

Source???

people want okcoin it seems

So, if I understand correctly, SaveGox is unfair for non-American citizens. How can this even be considered?

Here's a short summary of what I think of the different parties (from the google hangout):

OkCoin
You can get your percent of bitcoins on the first day of trading, the remaining dept is company share (total 49.9%)
OkCoin has already an BTC exchange and they now how to deal with DDoS and security issues and how to handle wallets and customers.
OkCoin got experience and knowledge

Savegox
You'll get your 16.5% percent in bitcoins and after there will be some kind of equity swap.
Savegox has some childactors and insiderpeople from Gox. There are some experts who worked on wallstreet (like this name means something) where they brang coffee to the broakers and now they say they worked for wallstreet-onlinetrading-whatever.
Savegox claims to have 70% of the custemer funds on theyr side (WTF!)
Savegox has money and famous people

Anarchystar (Mtgoxrecovery?)
He has no plan, just criticizes everyone and blames them for doing something in very bad english and no personal presence. (why does he even get so much publicity?!?)
Anarchystar has a loud voice

First i was for Savegox, but i changed my mind to OkCoin!


you can change your vote as much as you want.
what is your opinoin on the different plans?

greetings from switzerland
cloon