“A call center has been established to respond to all inquiries” • Hacker News Board

Re: “A call center has been established to respond to all inquiries”

#31

Post by shocks » Sun, Mar 02, 2014, 7:40 PM UTC

danielweber wrote: post #28

shocks wrote: post #11

Can anyone explain what is going on here[1]? 1: http://pastebin.com/rmtUxwbu

The typical way that chapter 11 bankruptcy works, in America at least, is to imagine a big wedding cake. The bottom layer in the shareholders, the next layer up is the bondholders. When the company goes bankrupt, you slice the bottom layer off the cake: the shareholders get 0, and all the bondholders become the new shareholders. That's for chapter 11, when the business is trying to stay as an ongoing concern. Lots of…

Very interesting, thank you!

Re: “A call center has been established to respond to all inquiries”

#32

Post by CamperBob2 » Sun, Mar 02, 2014, 8:04 PM UTC

danielweber wrote: post #28

shocks wrote: post #11

Can anyone explain what is going on here[1]? 1: http://pastebin.com/rmtUxwbu

The typical way that chapter 11 bankruptcy works, in America at least, is to imagine a big wedding cake. The bottom layer in the shareholders, the next layer up is the bondholders. When the company goes bankrupt, you slice the bottom layer off the cake: the shareholders get 0, and all the bondholders become the new shareholders. That's for chapter 11, when the business is trying to stay as an ongoing concern. Lots of…

Sadly, gox.com may be a nice three-letter domain name, but you'll have to depreciate it on the same schedule you'd use for a barrel of cesium 137. Nobody is going to want a piece of that action for a long time.

Re: “A call center has been established to respond to all inquiries”

#33

Post by CamperBob2 » Sun, Mar 02, 2014, 8:06 PM UTC

mbreese wrote: post #20

mschuster91 wrote: post #18

Earlier quoted context omitted.

The point is that after going through all the bankruptcy process, they most likely will have all their code audited and checked, as well as external entities for monitoring. MtGox will be one of the best secured exchanges after it, that's for sure - I don't count on MtGox going down at all.

Except that exchanges need trust. Customers need to be able to trust that their money will be safe, that they can move their funds in and out freely, and that the exchange wont just take their money and run. This is especially true with an unregulated currency, like Bitcoin. Do you really think that anyone will trust them going forward? If they can manage to get their business back in order, do you think that custome…

Plus, I was under the impression that one of the major reasons why US-based people still had accounts on MtGox was that it was so difficult to get USD out. It's not like they were winning customers before. A great deal of them were just locked in and couldn't leave.

I'm a little unclear on that, myself. I don't understand the idea of holding someone's bitcoins hostage. As a depositor at MtGox, couldn't you just send the bitcoins out to another exchange or to your own wallet? What would possess someone not to do that at the very first hint of a liquidity problem?

I'm probably missing something rather fundamental but I don't see how these clowns ever had any genuine control over anyone's coins. Transferring them should always have been an option.

Re: “A call center has been established to respond to all inquiries”

#34

Post by toomuchtodo » Sun, Mar 02, 2014, 10:03 PM UTC

pbreit wrote: post #30

guybrushT wrote: post #27

Completely tangential - but does anyone know how to setup a call center this quickly? Is there a service that one can use?

The "virtual PBX" market is pretty crowded. Grasshopper is a good introductory service. There are some Skype/Gvoice-based options like Zaplee and PrettyMay. Moving up a bit you'd find RingCentral and Phonebooth which are a bit more capable.

Also, there are turnkey call centers, fully staffed. You get a number that gets routed to certain agents, and they answer as your org, have your flowchart/website/whatever. You're typically charged a setup fee, monthly fee, and per minute, but you don't have to go hire your own people.

Re: “A call center has been established to respond to all inquiries”

#35

Post by patio11 » Sun, Mar 02, 2014, 11:03 PM UTC

socillion wrote: post #15

Here are some links on Japanese bankruptcy processes taken from IRC discussion. http://www.jurists.co.jp/en/topics/others_4007.html http://japantax.org/?p=84 My understanding is that Mtgox is using Minji Saisei.

That understanding is confirmed by, among other places, the subject of the page: [民事再生手続開始の申立てに関するお知らせ].

Re: “A call center has been established to respond to all inquiries”

#36

Post by shocks » Mon, Mar 03, 2014, 11:15 PM UTC

CamperBob2 wrote: post #32

danielweber wrote: post #28

Earlier quoted context omitted.

The typical way that chapter 11 bankruptcy works, in America at least, is to imagine a big wedding cake. The bottom layer in the shareholders, the next layer up is the bondholders. When the company goes bankrupt, you slice the bottom layer off the cake: the shareholders get 0, and all the bondholders become the new shareholders. That's for chapter 11, when the business is trying to stay as an ongoing concern. Lots of…

Sadly, gox.com may be a nice three-letter domain name, but you'll have to depreciate it on the same schedule you'd use for a barrel of cesium 137. Nobody is going to want a piece of that action for a long time.

Hah, I've got to remember that expression!