Also, how can we trust that a private investigation by the new management into possible wrongdoings at MtGOX will be carried out earnestly and impartially, in the best interest of the former customers, and without regard for who the guilty parties may turn out to be?
Theft and fraud are common crimes that must be investigated by legitimate authorities. The "bitcoin community" has no right to declare itself outside the reach of the law.
Topic: SaveGox.com - page 8. (Read 12573 times)
Mr. Gay-Bouchery and Mr. McCaleb are said to be defendants in the earlier class-action suit (whose terms I have not had time to read yet) and to agree with this plan. If this deal is approved by the court, will they be freed of any responsibility for their roles in MtGOX's collapse?
Hi Jon,
Q1) Will you be using new software or are you going to use existing software for the bitcoin trading platform?
Q2) Are you the Jon that was in the Google Hangout Talk? (https://www.youtube.com/watch?v=9vxJNgLibP4)
Q1) Will you be using new software or are you going to use existing software for the bitcoin trading platform?
Q2) Are you the Jon that was in the Google Hangout Talk? (https://www.youtube.com/watch?v=9vxJNgLibP4)
@ John
There's a statement i really'd like to have confirmed:
is this true? I live in Switzerland and you will just keep my money cause i'm not from US/Canada?
I really apreciate the efforts you do, but there are so many informations, that make you less and less trustworthy.
of course not (not just for US creditors). Gee, MtGox isn't even American. Read their press release. I suggest you visit the reddit thread I linked above. There's a statement i really'd like to have confirmed:
It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
is this true? I live in Switzerland and you will just keep my money cause i'm not from US/Canada?
I really apreciate the efforts you do, but there are so many informations, that make you less and less trustworthy.
@ John
There's a statement i really'd like to have confirmed:
is this true? I live in Switzerland and you will just keep my money cause i'm not from US/Canada?
I really apreciate the efforts you do, but there are so many informations, that make you less and less trustworthy.
There's a statement i really'd like to have confirmed:
It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
is this true? I live in Switzerland and you will just keep my money cause i'm not from US/Canada?
I really apreciate the efforts you do, but there are so many informations, that make you less and less trustworthy.
Gox customers will be scammed twice if this plot goes through:
Only 16.5% stake to customers
While a hefty $10m of customers money is misappropriated for investigation/audit.
Its a sweet deal only to sunlot shareholders, all that for the cost of 1 btc..
Only 16.5% stake to customers
While a hefty $10m of customers money is misappropriated for investigation/audit.
Its a sweet deal only to sunlot shareholders, all that for the cost of 1 btc..
I just saw:
https://www.mtgox.com/img/pdf/20140424_order.pdf
Doesn't that mean there is now no more hope for a buyout? / bail out such as savegox?
Sorry if this is a stupid question, but I did not update for a few days,
Thank you
https://www.mtgox.com/img/pdf/20140424_order.pdf
Doesn't that mean there is now no more hope for a buyout? / bail out such as savegox?
Sorry if this is a stupid question, but I did not update for a few days,
Thank you
From http://www.reddit.com/r/Bitcoin/comments/248trz/mt_gox_class_action_lawsuit_important_announcement/ch4tk5d
Quote
This is a terrible, disgusting deal. Read the actual press release and see that those Sunlot bastards still try to take $10 million out of the existing assets and even try to reward themselves even more in the process of doing so.
"An Administration and Prosecution Fund would manage customer interests and the recovery of the approximately $275 million of stolen customer assets. Capitalized by $10 million (3.6% of stolen assets) in MtGox cash held in trust by Nobuaki Kobayashi, the administrator appointed by the Tokyo District Court, the fund would conduct forensic investigations and pursue prosecution of perpetrators. An incentive bounty of 10% of recovered assets would reward those participating in the recovery."
All this is a direct contradiction of things they've stated in their 'support gathering phase'.
They've shown themselves for what they are - vultures that can only get what they want through litigation or the threat thereof, of minor defendents. They pick on the half-dead bodies of affected creditors and try to suck out as much of the meat out of them as possible. Meanwhile, they tout themselves in the press as the saviours of the bitcoin economy.
"An Administration and Prosecution Fund would manage customer interests and the recovery of the approximately $275 million of stolen customer assets. Capitalized by $10 million (3.6% of stolen assets) in MtGox cash held in trust by Nobuaki Kobayashi, the administrator appointed by the Tokyo District Court, the fund would conduct forensic investigations and pursue prosecution of perpetrators. An incentive bounty of 10% of recovered assets would reward those participating in the recovery."
All this is a direct contradiction of things they've stated in their 'support gathering phase'.
They've shown themselves for what they are - vultures that can only get what they want through litigation or the threat thereof, of minor defendents. They pick on the half-dead bodies of affected creditors and try to suck out as much of the meat out of them as possible. Meanwhile, they tout themselves in the press as the saviours of the bitcoin economy.
Hey guys!
I'm on the SaveGox team. If you guys have questions for the team, please post them.
I'm opening this thread because Goat closed the other one.
Thanks,
-Jon
I'm on the SaveGox team. If you guys have questions for the team, please post them.
I'm opening this thread because Goat closed the other one.
Thanks,
-Jon
Will your investment provide enough injection to cover the negative balance of lost deposits if there is one?
If not, then I have a second question.
How will the new exchange offer complete transparency to its books and balances?
Hi Jon. Still seeking answers to these questions. Will DEPOSITORS receive the full amount of lost deposits back - whether in the form of Bitcoin or FIAT. It appears that your plan will convert Bitcoin to Fiat based on some valuation.
Hey guys!
I'm on the SaveGox team. If you guys have questions for the team, please post them.
I'm opening this thread because Goat closed the other one.
Thanks,
-Jon
I'm on the SaveGox team. If you guys have questions for the team, please post them.
I'm opening this thread because Goat closed the other one.
Thanks,
-Jon
Will your investment provide enough injection to cover the negative balance of lost deposits if there is one?
If not, then I have a second question.
How will the new exchange offer complete transparency to its books and balances?
Hi Jon. Still seeking answers to these questions. Will DEPOSITORS receive the full amount of lost deposits back - whether in the form of Bitcoin or FIAT. It appears that your plan will convert Bitcoin to Fiat based on some valuation.
Well...
May be I misinterpreted the communication of this group though the media, but I think one of your promises was to be as transparent and verbose as humanly and/or professionally possible/allowed.
But I am yet to receive my very first "information package" on the email address I used to sign up.
All I know for a fact that some people with questionable/unclear histories/intentions want to do something with Gox if the Japanes court allows. And they are sweating the deal by promising they will try to recover all losses.
And then there is this shadowy talk on these forums about "various things are in motion under the radar, more comes later". -> Not really transparent and verbose if you ask me.
May be I misinterpreted the communication of this group though the media, but I think one of your promises was to be as transparent and verbose as humanly and/or professionally possible/allowed.
But I am yet to receive my very first "information package" on the email address I used to sign up.
All I know for a fact that some people with questionable/unclear histories/intentions want to do something with Gox if the Japanes court allows. And they are sweating the deal by promising they will try to recover all losses.
And then there is this shadowy talk on these forums about "various things are in motion under the radar, more comes later". -> Not really transparent and verbose if you ask me.
+ 1 on EVERYTHING stated above
I'm on the SaveGox team. If you guys have questions for the team, please post them.
Please list the criminal records for all members of your team, including investors and advisors.(This is a standard requirement for anyone proposing to become a broker or exchange under US law.)
Well...
May be I misinterpreted the communication of this group though the media, but I think one of your promises was to be as transparent and verbose as humanly and/or professionally possible/allowed.
But I am yet to receive my very first "information package" on the email address I used to sign up.
All I know for a fact that some people with questionable/unclear histories/intentions want to do something with Gox if the Japanes court allows. And they are sweating the deal by promising they will try to recover all losses.
And then there is this shadowy talk on these forums about "various things are in motion under the radar, more comes later". -> Not really transparent and verbose if you ask me.
We should be sending something to your email soon.May be I misinterpreted the communication of this group though the media, but I think one of your promises was to be as transparent and verbose as humanly and/or professionally possible/allowed.
But I am yet to receive my very first "information package" on the email address I used to sign up.
All I know for a fact that some people with questionable/unclear histories/intentions want to do something with Gox if the Japanes court allows. And they are sweating the deal by promising they will try to recover all losses.
And then there is this shadowy talk on these forums about "various things are in motion under the radar, more comes later". -> Not really transparent and verbose if you ask me.
Here's a press release, hot off the presses! http://www.savegox.com/press/Gox_Creditor_Settlement_Press_Release.pdf
Two paragraphs in, and I already envision mass postings in this thread in 5...4...3...
Well...
May be I misinterpreted the communication of this group though the media, but I think one of your promises was to be as transparent and verbose as humanly and/or professionally possible/allowed.
But I am yet to receive my very first "information package" on the email address I used to sign up.
All I know for a fact that some people with questionable/unclear histories/intentions want to do something with Gox if the Japanes court allows. And they are sweating the deal by promising they will try to recover all losses.
And then there is this shadowy talk on these forums about "various things are in motion under the radar, more comes later". -> Not really transparent and verbose if you ask me.
We should be sending something to your email soon.May be I misinterpreted the communication of this group though the media, but I think one of your promises was to be as transparent and verbose as humanly and/or professionally possible/allowed.
But I am yet to receive my very first "information package" on the email address I used to sign up.
All I know for a fact that some people with questionable/unclear histories/intentions want to do something with Gox if the Japanes court allows. And they are sweating the deal by promising they will try to recover all losses.
And then there is this shadowy talk on these forums about "various things are in motion under the radar, more comes later". -> Not really transparent and verbose if you ask me.
Here's a press release, hot off the presses! http://www.savegox.com/press/Gox_Creditor_Settlement_Press_Release.pdf
Well...
May be I misinterpreted the communication of this group though the media, but I think one of your promises was to be as transparent and verbose as humanly and/or professionally possible/allowed.
But I am yet to receive my very first "information package" on the email address I used to sign up.
All I know for a fact that some people with questionable/unclear histories/intentions want to do something with Gox if the Japanes court allows. And they are sweating the deal by promising they will try to recover all losses.
And then there is this shadowy talk on these forums about "various things are in motion under the radar, more comes later". -> Not really transparent and verbose if you ask me.
May be I misinterpreted the communication of this group though the media, but I think one of your promises was to be as transparent and verbose as humanly and/or professionally possible/allowed.
But I am yet to receive my very first "information package" on the email address I used to sign up.
All I know for a fact that some people with questionable/unclear histories/intentions want to do something with Gox if the Japanes court allows. And they are sweating the deal by promising they will try to recover all losses.
And then there is this shadowy talk on these forums about "various things are in motion under the radar, more comes later". -> Not really transparent and verbose if you ask me.
If this team does obtain mtgox, will mtgox's wallet addresses be made public for the community to audit?
I will ask. I don't see the issue in releasing that info after the audit. I'd make it a priority to share the results of an audit or investigation to the community immediately.
Well I didn't ask about the info after an audit. That's just a story, and we've had enough stories. The bitcoin community has proven themselves to be the best at auditing the block chain. No amount of 'professionals' you throw money at will convince us that the story you're telling us is true unless you release ALL of mtgox's wallet addresses.
I would like to use this opportunity to stress again that the Sunlot Holdings people tried to make a backroom deal with Mark Karpeles, and later through the court, to buy up the distressed debt. The deal, which recently surfaced through a leaked document, would have been quite a ripoff to existing creditors and was to be made, if Sunlot Holdings had their way, behind our backs. Fortunately, it was rejected.
Did you read the proposal? Included in there, in plain english: "- Court and creditor approval of a payment plan."
None of this was done behind your backs. It was contingent on the knowledge and approval of the creditors.
They state that at that time they acted in an "information vacuum" and have since then changed their plan, apparently acting on newly available information to adjust the plan. To my knowledge, the only knowledge that has become available to them since then is that their original plan was rejected, and that the general public have got to know that it looks like they were about to be taken advantage of.
We've been able to better identify the risks associated with the business and have been in talks with creditors. Plenty information regarding creditor wishes has been made available to us in the last month.
In conversations with a WSJ journalist, they stated that they have support for their plan from 70% of creditors, weighed by the size of the debt of individual creditors. This is pertinently untrue. Many of the large creditors they included in their potentially made-up figure of 70% have stated support for rehabilitation, but not for the Sunlot Holdings plan.
We have received support of our efforts from large blocks of customers who have self organized, as well as individual customers who have reached out to us through SaveGox.com, some formal, some informal. We will be making an announcement shortly about formal support from international groups of creditors who support our revised rehabilitation plan for Mt Gox. That 70% included Okcoin at that time, who now seem to support their own plan. We still have an open dialogue with them.
In the past weeks, while remaining unclear about exact terms of their new plan, which may still not include a debt-for-equity swap, they've hired John Holmquist as a PR person, who has since resorted to some silly scare tactics such as these.
I believe John confirmed debt-for-equity yesterday. I think you're forgetting my other more silly tactics, like this one: http://i.imgur.com/7vyhIPm.jpg - Both of these were attempts aimed at the larger Bitcoin community to garner attention. Neither did well, I didn't push them any further.
Did you read the proposal? Included in there, in plain english: "- Court and creditor approval of a payment plan."
None of this was done behind your backs. It was contingent on the knowledge and approval of the creditors.
They state that at that time they acted in an "information vacuum" and have since then changed their plan, apparently acting on newly available information to adjust the plan. To my knowledge, the only knowledge that has become available to them since then is that their original plan was rejected, and that the general public have got to know that it looks like they were about to be taken advantage of.
We've been able to better identify the risks associated with the business and have been in talks with creditors. Plenty information regarding creditor wishes has been made available to us in the last month.
In conversations with a WSJ journalist, they stated that they have support for their plan from 70% of creditors, weighed by the size of the debt of individual creditors. This is pertinently untrue. Many of the large creditors they included in their potentially made-up figure of 70% have stated support for rehabilitation, but not for the Sunlot Holdings plan.
We have received support of our efforts from large blocks of customers who have self organized, as well as individual customers who have reached out to us through SaveGox.com, some formal, some informal. We will be making an announcement shortly about formal support from international groups of creditors who support our revised rehabilitation plan for Mt Gox. That 70% included Okcoin at that time, who now seem to support their own plan. We still have an open dialogue with them.
In the past weeks, while remaining unclear about exact terms of their new plan, which may still not include a debt-for-equity swap, they've hired John Holmquist as a PR person, who has since resorted to some silly scare tactics such as these.
I believe John confirmed debt-for-equity yesterday. I think you're forgetting my other more silly tactics, like this one: http://i.imgur.com/7vyhIPm.jpg - Both of these were attempts aimed at the larger Bitcoin community to garner attention. Neither did well, I didn't push them any further.
In addition, Sunlot Holdings was registered in December 2013. Of course that's no proof of nefarious purposes. However, considering they seem to be distressed debt investors, one wonders what "distress" signal they received (like in November 2013) that most others didn't?
How about this? http://techcrunch.com/2013/08/23/feds-seize-another-2-1-million-from-mt-gox-adding-up-to-5-million/
If this team does obtain mtgox, will mtgox's wallet addresses be made public for the community to audit?
I will ask. I don't see the issue in releasing that info after the audit. I'd make it a priority to share the results of an audit or investigation to the community immediately.
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