Source close to potential investors: 3 companies bidding on Gox - page 3.

flyaaaa

newbie

Activity: 13

Merit: 0

think about whatsapp, $300M is really nothing...

Quote from: dave111223 on February 26, 2014, 12:00:15 AM

Why would you bid on Gox.

The liabilities are at what like $300M?

You are telling me that for $300M you couldn't setup and market a new exchange that would totally dominate the marketplace...

We already know that the Gox backend is basically unusable and would need to be totally re-coded for anyone to even consider using it again. So they are taking on $300M in debt for what...the "Mt. Gox" brand and customer database...lol

Aditya

full member

Activity: 164

Merit: 100

Quote from: DeathAndTaxes on February 26, 2014, 12:04:13 AM

Cheaper to let MtGox die in bankruptcy and buy the customer list from the trustee.

The impact of Mt Gox bankruptcy is not that cheap.
As oldest and well known Bitcoin Exchange for several years, it will be quite sistemic for Bitcoin Economy. They can't just say: “Uh... Oh... Unfortunately we got hacked. All customer fund lost. Sorry...”

You may take a look at the Bitcoin Price Index, they have lost almost 50% since Mt Gox halt withdrawal.

Some Government may also considering to ban Bitcoin Exchange. They try to protect their people. And many more people will think Bitcoin is a SCAM without even knowing what Bitcoin is.

Personally, I believe saving Mt Gox is better than let them die. It will not come from easily printed money. It comes from hard earned money to bail out this dying company.

Mt Gox will be better with a brand new logo, CEO, management, products and investor. Imagine a large company like Google or PayPal buy this company and then integrate with their current payment system. It's better than let them die and create chaos in Bitcoin Economy.

Note: Bitcoin Exchange = Bitcoin Exchange Company (e.g: Bitstamp, BTC-e, BTC China, Kraken)

StarfishPrime

sr. member

Activity: 358

Merit: 250

Quote from: Phinnaeus Gage on February 26, 2014, 01:57:37 AM

Quote from: DeadwoodDan on February 26, 2014, 01:04:09 AM

seriously there's no way in hell the actual transaction is worth three hundred million Earth dollars

it'll be some sort of mob deal, and it'll make sense at that level, and we'll never know

It could simply change hands for an undisclosed amount equally to or greater than tree-fitty.

Or something far less on the pre-condition that MtGox is placed into Chapter 11/ bankruptcy/whatever Japan's restructuring framework allows first.

Seems doubtful that a buyer would offer a full bailout, any corporation as insolvent as MtGox would likely have some kind of partial settlement to creditors (customers in this case) as a takeover precondition.

kevinm

full member

Activity: 228

Merit: 100

This is not good for my Chi... Yifu

Goldman Sachs Wink

cheers,
kev

Jeronimus

member

Activity: 97

Merit: 10

Quote from: DeadwoodDan on February 26, 2014, 01:04:09 AM

seriously there's no way in hell the actual transaction is worth three hundred million Earth dollars

it'll be some sort of mob deal, and it'll make sense at that level, and we'll never know

I think you are wrong.

With a trusted new CEO, like gmaxwell or antonopoulos MtGox would be far more worth than just 300m.

It would be the easiest way for investors to get hold of a major exchange with high enough volume.

With karpeles as CEO the value is exactly ZERO because noone except a few fools left over would use any service he runs again.

In my opinion it is all about who will be the CEO. If they choose someone noone knows or even worse, continue to use Karpeles, they are just wasting their money.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: DeadwoodDan on February 26, 2014, 01:04:09 AM

seriously there's no way in hell the actual transaction is worth three hundred million Earth dollars

it'll be some sort of mob deal, and it'll make sense at that level, and we'll never know

It could simply change hands for an undisclosed amount equally to or greater than tree-fitty.

DeadwoodDan

full member

Activity: 238

Merit: 100

seriously there's no way in hell the actual transaction is worth three hundred million Earth dollars

it'll be some sort of mob deal, and it'll make sense at that level, and we'll never know

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: Phinnaeus Gage on February 25, 2014, 11:53:36 PM

Quote from: T.Stuart on February 25, 2014, 11:48:01 PM

Dutchman Paul Buitink from debitcoin.org tweets:

"Just heard from a source close to the potential investors that the @twobitidiot document is authentic. 3 companies now bidding on @MtGox"

https://twitter.com/paulbuitink

Says he will update when further info available.

BitPay
Memory Dealers
Dream Host
Mayzus

That's my four guesses. I have a hunch that the latter will win.

Yep! Definitely Mayzus.

The following release was on Gox's site, albeit altered, prior to it going dark. The following can still be seen on their FB page as their last entry.

http://www.cryptocoinsnews.com/2013/12/19/mt-gox-fee-discount/

Quote

Press Release by Mt. Gox: 25% fee discount and improved deposit speed
David Parker 19/12/2013 Bitcoin, Mt. Gox, News, Press Releases
Posted 2 months ago

TOKYO – JAPAN – December 19, 2013

Dear MtGox Customers,Thank you for your patience and support all throughout 2013.
As we noted in our previous update there are many things happening, and we’re proud to announce two more major developments that will make MtGox both easier and more economical for our valued customers:
- Special fee discounts for the winter holidays to celebrate reaching one million customers.
- A new partnership with payment provider Mayzus Financial Services

1) One million MtGox customers and reduced fees for the holidays!

Thanks to our loyal customer and increased global interest in Bitcoin, MtGox has now achieved a milestone of over one million customers and growing.
This is an incredible moment for us all, and to celebrate, we are offering a Special Holiday Discount of 25% off all trading fees starting today, December 20th 2013 to January 20th 2014!*

2) Mayzus Partnership

We are proud to announce a new partnership with Mayzus that will enable our customers outside of the United States to deposit quickly and without long processing times.

Now that we are working with Mayzus, a leading financial company that is in-tune with the future of Bitcoin, anyone with a verified account will be able to quickly send money to their MtGox account via 126 global currencies.
For more information about methods accepted on Mayzus, please refer to this link: https://www.mayzus.com/en/deposit-withdrawal.html

Mayzus FAQ:

Q: It’s great that deposits are fast, but what about withdrawals?
A: Withdrawals are coming with Mayzus, but not just yet. Phase One is enabling deposits, and Phase Two will be deeper integration with Mayzus that creates a better experience and allows for withdrawals as well.

Q: I’m in the United States. What about me?
A: We are not ignoring you. We have been working hard to improve the withdrawal process as well.

Q: How do we get started?
A: first you will need to have a verified account with Mayzus. If you don’t have one already you can create one here: https://secure.moneypolo.com/registration

Once verified, you will be able to deposit within the “Funding Options” menu on the MtGox dashboard. Choose “Mayzus” from the drop-down menu and follow the simple steps.

3) Additional Note:

Don’t forget to secure your account with a one-time password solution such as Google Authenticator or the MtGox Yubikey or OTP Card solutions.
Look for more information in the security center when you login to your MtGox account.

Thank you again for your support,

*The Special Holiday Discount of 25 % will be applied for any trade issued from December 20th 2013 (00h00 GMT) to January 20th 2014 (23h59 GMT).

Regards
Mt.Gox Co. Ltd Team.

StarfishPrime

sr. member

Activity: 358

Merit: 250

It takes a lot to kill a brand. We're still buying gas at Exxon and BP, banking at Chase and HSBC ("the world's laundromat"), etc etc.

There's no doubt they're likely to be bought out, the new owners will gain massive cred in the bitcoin world if they can right this ship.

Aditya

full member

Activity: 164

Merit: 100

PayPal or Google please Cheesy

Would be great if PayPal or Google accept Bitcoin then they have their own Bitcoin Exchange

dave111223

legendary

Activity: 1190

Merit: 1001

Quote from: T.Stuart on February 26, 2014, 12:02:12 AM

Quote from: dave111223 on February 26, 2014, 12:00:15 AM

Why would you bid on Gox.

The liabilities are at what like $300M?

You are telling me that for $300M you couldn't setup and market a new exchange that would totally dominate the marketplace...

We already know that the Gox backend is basically unusable and would need to be totally re-coded for anyone to even consider using it again. So they are taking on $300M in debt for what...the "Mt. Gox" brand and customer database...lol

The customer database is not to be sniffed at. There is no great rush of people trying to get into crypto at the moment. Look at the volume on Kraken - good exchange open for a while but...

And a lot of the Gox users are experienced and rich*. Butter them up the right way and they will just keep on trading.

Yeah I'd pay $300M for a list of people that will soon hate me.

With the amount of times gox has been hacked I'm sure there will be pastebin version of the database surfacing shortly; complete with MD5 unseed pass hashes.

* Were rich; now...not so much

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: T.Stuart on February 26, 2014, 12:02:12 AM

Quote from: dave111223 on February 26, 2014, 12:00:15 AM

Why would you bid on Gox.

The liabilities are at what like $300M?

You are telling me that for $300M you couldn't setup and market a new exchange that would totally dominate the marketplace...

We already know that the Gox backend is basically unusable and would need to be totally re-coded for anyone to even consider using it again. So they are taking on $300M in debt for what...the "Mt. Gox" brand and customer database...lol

The customer database is not to be sniffed at. There is no great rush of people trying to get into crypto at the moment. Look at the volume on Kraken - good exchange open for a while but...

And a lot of the Gox users are experienced and rich. Butter them up the right way and they will just keep on trading.

MtGox claims 1M users. Lets pretend they are all 100% legit, fully verified, no throw aways or duplicates. Lets also pretend 100% of them may use MtGox in the future. That would be $300 per user which is an asinine valuation. Cheaper to let MtGox die in bankruptcy and buy the customer list from the trustee. Still I guess anything is possible. Some people have deep pockets and a phobia of just holding their coins.

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: dave111223 on February 26, 2014, 12:00:15 AM

Why would you bid on Gox.

The liabilities are at what like $300M?

You are telling me that for $300M you couldn't setup and market a new exchange that would totally dominate the marketplace...

We already know that the Gox backend is basically unusable and would need to be totally re-coded for anyone to even consider using it again. So they are taking on $300M in debt for what...the "Mt. Gox" brand and customer database...lol

The customer database is not to be sniffed at. There is no great rush of people trying to get into crypto at the moment. Look at the volume on Kraken - good exchange open for a while but...

And a lot of the Gox users are experienced and rich. Butter them up the right way and they will just keep on trading.

dave111223

legendary

Activity: 1190

Merit: 1001

Why would you bid on Gox.

The liabilities are at what like $300M?

You are telling me that for $300M you couldn't setup and market a new exchange that would totally dominate the marketplace...

We already know that the Gox backend is basically unusable and would need to be totally re-coded for anyone to even consider using it again. So they are taking on $300M in debt for what...the "Mt. Gox" brand and customer database...lol

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: T.Stuart on February 25, 2014, 11:48:01 PM

Dutchman Paul Buitink from debitcoin.org tweets:

"Just heard from a source close to the potential investors that the @twobitidiot document is authentic. 3 companies now bidding on @MtGox"

https://twitter.com/paulbuitink

Says he will update when further info available.

BitPay
Memory Dealers
Dream Host
Mayzus

That's my four guesses. I have a hunch that the latter will win.

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Dutchman Paul Buitink from debitcoin.org tweets:

"Just heard from a source close to the potential investors that the @twobitidiot document is authentic. 3 companies now bidding on @MtGox"

https://twitter.com/paulbuitink

Says he will update when further info available.

Topic: Source close to potential investors: 3 companies bidding on Gox - page 3. (Read 3642 times)