Topic: Support a Bailout for (MT)Gox.com - page 3. (Read 7868 times)

For anyone that has some funds on Gox its just a no brainer.

Nobel laureate Prof. Nash had something to say about optimal personal gain going hand in hand with benefiting everyone in the group.

With a new owner the current customers have much better chance of recovering at least some of their moneyz.

Bailouts only do one thing: reward greed and/or incompetence.  In this case, it would be both.

What should happen is for someone to acquire the assets of Mt Gox, attempt to make something of them and take what is accomplished and distribute it to those that lost.  It will be "penny's on the dollar" but it will show that the network does what it can.

If you go the bailout route, you'll lose something along the way.  It isn't a trade off you should even consider.

Didn't support the last bailout, won't support this one. People need to learn that it matters where you store your money, both fiat and crypto.

NEWS FEED ON MtGox MELTDOWN at

http://[Suspicious link removed]/

all the evidence should be kept for a claim on any future crytpo releases that may be regulated

customer takeover, cant expect people who didnt have money in gox to be motivated to give much of a shit

No.

This is exactly what is great about bitcoin. You risked your assets on an exchange known to be grossly incompetent - most likely because of the higher returns this risky investment promised. Your bet failed.

Nobody is going to save you from yourself. Why should the community socialize your losses whilst you keep your profits? If you want that you should be working/investing in fiat banking.

No offense.

I want my bailout for bitfunder and ukyo.loan first. If they get bailed out, and I get my money back, I'd gladly donate 10 btc to the gox bailout.

I normally do like me some good ol' troling in the morning,

...

but fuck you!

Edit: "This is the time to help". Nuh-uh. This is the time to kick ass and to chew bubblegum, and we all are very much out of bubblegum at this point.

This!!!!!!  Thank you!!!!!! 

Mt Gox needs to go down, they were poorly run from the beginning and they shouldn't be in business.  If they are bailed out people will still have lost faith in them.

On top of that, I don't think anyone in their right mind would bail them out - considering that most people will leave and stop using Mt Gox once they have been bailed out.

Mt Gox is bad for bitcoin, and they must fail - so much of the price fluctuations has occurred due to them.

Bailout the wrong term im not putting anymore money in, why not a customer take over? remove CEO & team.  Limit withdraws.  Get it up & running.

Sounds like OP wants to be bailed out.

Yeah I really don't think we should follow the example of the US banks 

Best advice ever!!  Screw Gox!!! They are responsible for almost EVERY crash Bitcoin has experienced,bail em out Really

http://www.youtube.com/watch?v=q6iAPvcWmQI

completely agree with this.

Just wish the tree wasn't looking quite so bare at the moment with all the limbs that keep falling off.....each one does makes us stronger though....slowly....



and seriously...


I only have so much sympathy for people who left significant money on an exchange called "Magic the Gathering Online Exchange"

Here's a top tip for those using BTC-e, Bter (both of which I love) and other exchanges - none of them are reputable financial institutions like Wells Fargo, Chase (don't laugh - you get what I mean). They're small operations, based in eastern block countries, with difficult to contact organisers. Don't risk your money!! Store your coins offline!!

The community will be better without Gox. We don't need companies that take months just to allow you to deposit/withdraw money, even under good conditions.

To top it all off, Mt. GOX died the way it lived: shutting down suddenly without explanation, without even apologizing to people who lost everything.

If someone stole all the bitcoins, let the community find the person and get them back. Otherwise if you are itching to send out bitcoins to anyone try: 1JWyjsTWLmsBycgNZKcfigffgTAg7S2Aes

If you wanna bail out a totally incompetent financial business or even worse (possible) scammers, in that case you as bad as any central bank lol.

Companies like this deserve to disappear from the market.

Not like we need Gox around for anything, at least the central banks have an excuse when they bail out a failed bank, like they are needed for the economy, they say,  where we need GOX around for ? I cant think of anything.

And yet, and yet.....

Mark Kapeles of mtgox bailed out another exchange back in 2011, using 17,000 BTC of his own to make sure the customers of that exchange didn't lose money - and I'm sure they were glad.

Why did he do it? Because it's not in the long term interests of the community to allow large numbers of people to lose money. It wasn't then and it isn't now.

Decentralized networks don't mean "you don't have to bail out or save any one entity" - it just means that there is no govt to organize the bailout and the community does it instead.

Think very hard before you advocate the "selfish at all costs" model which is quite different from a decentralized model.

If these types of incidents start to happen very frequently, one of two things will happen a) bitcoin will die as people will shudder at a non-regulatory environment that practically says to crooks, come and steal there is no comeback and no compensation for the victims or b) regulation will happen because the victims become so numerous, they eventually make up the majority of the community.

I think a bailout is a good idea. Perhaps Mtgox can issue bailout bonds that we can buy for 1BTC each and which pay a % of the profits. That way he raises capital to pay the victims, they clean up mtgox - put in new management, and when it's running properly again, those of us who have participated in the bailout get a small return for our altruism.

China definitely has demand for bitcoins but fiatleak isn't that accurate. It tracks filled orders at exchanges. Because chinese exchanges have more trading volume due to the low to zero trading fees, it would look as if there is a lot of chinese buying bitcoins when in fact the bitcoins in those exchanges just go back and forth from seller to buyer.