
Mt. Gox – Business Plan 2014-2017 [pdf] - julespitt
http://www.scribd.com/doc/209535200/Business-Plan-MtGox-2014-2017
======
meowface
>Strengths

>Technical expertise of Mark Karpeles, CEO of Mtgox, as a leader in network
security, systems development, and cryptocurrency.

Clearly.

>Mark is a young technopreneur with more than 15 years experience ins oftware
development, network administration and entrepreneurship. Mark is well-versed
in multiple programming languages, has a strong background in network
security, and is well-known in the tech community.

That last part is certainly true now.

------
downandout
This is a fantasy. Mark is quite likely going to jail for a very long time,
along with at least some of his fellow staff members. At market value they are
something like $400 million in debt.

This ridiculous idea that the world can't live without Mt. Gox, which has been
clearly communicated in both this document and the previously leaked crisis
memo, shows signs of serious narcissism in whomever is behind them. Whatever
PR/political damage their crisis has inflicted upon Bitcoin has already been
done and could not be reversed even if they were saved. These executives
should spend more time trying to find non-extradition countries that will take
them and less time living in fantasy land.

~~~
seanmcdirmid
You can't go to jail for losing $400 million, you can go to jail for stealing
it. You are implying that he has committed a some real crime beyond
incompetence?

~~~
celticninja
losing the money was not the crime, trying to cover it up and engage in
dubious practices like using customer fiat funds to shore up your company, buy
btc (on gox at $150) to sell on other exchanges (bitstamp at $500) is likely
to be the root of their legal woes not that they wer ehacked and lost 750k
coins.

Their cover up is what will bring legal repercussions.

~~~
tlrobinson
I have no idea how accurate this is, but Mark seemed to believe they were
"operating within the law":

 _" Karpeles replied that the matter is “confidential,” adding that the
company had discussed its business model with Japanese authorities “to ensure
that we are operating within the law here.”"_

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newbrict
It looks like they won't die without a fight. I don't think they're coming
back from this one though. Unless they repay everyone and have a good
explanation as to what the past week is all about I'm pretty sure Mt.Gox has
ruined it's image ( if it had one haha..).

~~~
pmorici
It's looking like the document was meant to sucker in new investment so they
could continue to hide their insolvency and keep the ponzi scheme going.

------
eik3_de
Gems:

> 2.6 Key to Success

> Security: MtGox has a solid IT infrastructure, protected from DDOS attacks
> and hackers by a number of security providers and we continue to develop
> several customized security features for customers in order to protect their
> account.

> Speed: MtGox runs an highly efficient trading engine that will compete
> enormously against the capabilities of our competitors. We will also develop
> more efficient fund transfer infrastructures to ensure that customers can
> send or receive money to/from their MtGox accounts within 3 business days.

~~~
swalsh
This is about the only thing that comes to mind when I read things written by
Mt Gox about their software, and IT:

[http://www.youtube.com/watch?v=1umbFOLztAw](http://www.youtube.com/watch?v=1umbFOLztAw)

------
Zweihander
Someone needs to run them through the difference between Weaknesses and
Threats. They've got plenty of threats even if they make it through this and
ignoring them in the SWOT is laughable.

------
jheimark
How many employees did Mt. Gox have? This seems pretty polished for a company
that I thought had ~10 employees.

~~~
PMan74
>This seems pretty polished

Hmmmm, it looks like a standard MS Word template, nothing especially polished,
nothing anyone with a proficiency in Word could not knock out.

~~~
pistle
This business plan looks more like a college kid in an ill-fitting suit and
badly tied tie going for their first job interviews.

------
pistle
"We are use the Yayoi Kaikei accounting system."

Outside of that hilarity, this thing seriously is either fake or a scary
indictment of the lack of acumen and precision demanded by an organization of
this type.

How often does a grunting, surly herd of "male 20-40 year olds, with a deep
distrust for established financial systems", organize on your tiny Japanese
farm and crap gold nuggets towards each other?

Bitcoin, the Napster of cryptocurrency.

~~~
xsmasher
I'll contend that Mt.Gox::Bitcoin as Napster::MP3.

MP3 was "good enough" to revolutionize the way we buy and pirate music.
Napster was enabled by MP3 tech, but flamed out spectacularly.

MP3 survived though, and now more music is sold online than in record stores.

------
ck2
Who on earth would be foolish enough to ever give those involved another
dollar/transaction?

They are going to try to use this to peddle security devices? Seriously?

------
danielweber
Oh, God, an Arm and Hammer cat litter flash ad popped up while I was scrolling
through this site, playing sound automatically.

And I see no way to silence it or close it.

~~~
goldenkey
Try not to use God in vain when you're on a public forum. It's just a daft
popup mate.

~~~
lotsofmangos
If you tried to cope with everyone's varying view of blasphemy on a public
forum, there isn't much you could say.

Also, you can only really take a gods name in vain if you happen to believe in
that god, otherwise it is merely a culturally acquired exclamation. If I say
"By Zeus, that bathwater is hot.", I am not being blasphemous unless I believe
that Zeus exists.

~~~
goldenkey
It's not about blasphemy. It's about referring to the source of the universe
(belief respective) over a popup, just a bit daft is all, mate.

~~~
lotsofmangos
_" It's not about blasphemy."_

 _" Try not to use God in vain when you're on a public forum."_

I seem to remember there is something in one of those books about bearing
false witness.

~~~
goldenkey
Ahahaha. That's all I have to say, because your point is so pedantic and
wrong, that your aspergers might have infected your whole frontal cortex.

~~~
lotsofmangos
Look, I'd had a lovely supper, and all I said to my wife was, 'That piece of
halibut was good enough for Jehovah'.

------
PhasmaFelis
Farewell, Magic: The Gathering Online Exchange. With your passing, the Bitcoin
world has lost its greatest and most hilarious punching bag.

~~~
skore
At the very least, maybe this overly clever joke of showing off that you know
the original name of the service will finally die with it.

~~~
baddox
The best part about that joke is there is no remotely convincing evidence that
the site ever actually was a playing card exchange.

~~~
davejk
Assuming a (presumably incomplete) scraping by archive.org is "convincing
evidence", it was originally an exchange for _virtual_ trading cards.

[https://web.archive.org/web/20070525044536/http://mtgox.com/...](https://web.archive.org/web/20070525044536/http://mtgox.com/gwt/mtgox.php)

~~~
eterm
Of course they were virtual cards, that's what a "Magic: The Gathering Online"
Exchange would be.

(But actually MTGO has it's own de-facto virtual currency - tix - which are
regularly traded for cards through the MTGO interface.

~~~
dragonwriter
> Of course they were virtual cards, that's what a "Magic: The Gathering
> Online" Exchange would be.

I think the confusion is that some people parse it incorrectly as "Magic: The
Gathering" \+ "Online Exchange" rather than as "Magic: The Gathering Online"
\+ "Exchange", so think that it was (planned to be) an exchange for _physical_
rather than _virtual_ cards.

