Month: October 2017

Owner of failed Mt. Gox bitcoin exchange, who lost $500m of customers money, in line for over $700m of their funds, due to legal black-hole. The owner of the bankrupt Mt. Gox bitcoin exchange, who designed its security system, but didn’t notice repeated thefts over three years leading to losses of almost $500m of customer’s…

What are you paying for? You are essentially donating to a fund for legal action. We’ve already raised the full amount needed to pay the lawyer to research, and proceed to the next step. Everyone has already put in ~$100 (actually £85), and rather than close the group when we reached the target for the…

Just over a week ago, I told everyone that for all the psuedo-accountability I was presenting, in the end it just came down to having to trust me. Well I’m working on changing that this week, so things won’t have to rely on just trust anymore. Accounting Already we have a volunteer bookkeeper, yyy. A…

Good news. We’ve now hit the target of $30k. It’s an amazing job in under a week. I think above all it shows how important this is to a lot of people. We have: £22,598,56 in card takings, and £768.45 paid to me on Paypal. £23,3367.01 in total. Sekido’s invoice has arrived, and there’s no…

Tomorrow we’ll be opening the Forum. This is the area where all the legal information provided by our lawyer will be shared. We’re also looking at how to establish a creditors committee and there’s a thread for that. I’m uploading the accounts there too, and a request for volunteers to form a governance board. This…

I’ve written a draft letter highlighting questions, information, and legal approaches raised in the Google group. I’m not going to publish it here in public, but it is now in the Google Group. Title “Commissioning Letter to Sekido”. Please comment on it so I can make sure all valid points are considered. The IT volunteers,…

We currently have 105 creditors who have contributed, so have made the target we need for tier 1 – Research. I originally said I’m going to leave funding open for a week and review it then. I’m going to stick to that for now for two reasons. Firstly because there will be more funding needed…

We have agreed payment terms with our layer. I have now removed the emails sent between us. This is effectively what you’re paying for and if you want to see them before contributing, please email me. They are available on the forum.

Bitcoin Builder has engaged a lawyer that is looking at establishing a Creditors Committee. This is a committee that can to some limited degree call the Trustee to account. They cannot dictate terms, but they can make their feelings clear to him, and suggest actions, and if necessary call him to the Tokyo court to…

Keep in mind that not all creditors have the same motivations. Fiat creditors are unaffected by the fluctuating BTC price, as long as it stays above a level which gives them a 100% payout. Their motivation more than anything, I assume, is to get this resolved quickly. I understand that some BTC creditors that took…