Quote from: MPOE-PR on September 28, 2013, 08:56:38 PM

Quote from: woodrake on September 28, 2013, 08:05:04 PM

Plans to reinstate BTC-TC: Don't panic!

Except these aren't plans, they're vague intentions. Why not actually plan something, then post?

They are more than vague intentions. We are highly organised and between us are investing a significant amount in this gambit (>>$100k). I am currently getting advice from my lawyers and accountants re. avoiding a similar fate to Burnside.

I would share more but I am extraordinarily busy right now, in no small part because I'm getting married a week today.

However, this is not guaranteed to work. It appears that Burnside is still favoring the auction approach. We are trying to convince him that as a significant representitive portion of LTC-GLOBAL shareholders (~30% of the shares in public hands) as well as many of the major issuers on Litecoin Global and BTC Trading Co, that he should give us first refusal.

If it looks like we are not going to be able to purchase the code and user base from him at a sane price then Plan B is to use our collective resources to build a new, better exchange which can cater to the collective needs.

In either case I must warn you that we will not be able to simply reconstitute all shareholdings out of the box; there will be work for issuers to do. This is because for legal reasons the database cannot be part of a deal. However, we can programatically re-create securities including shareholdings from the shareholder reports; we would gather all issuers who wish to do this ahead of launching the new exchange(s).

Quote from: Franktank on September 28, 2013, 08:10:38 PM

Wow, this is great but there are many concerns after all the recent events.

1) Steps to be taken to prevent further shut down?

In hand; see above. We are based in the UK which helps, but we have other plans to further insulate us.

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2) Are the those "interested parties" willing to reveal themselves?

I'll request that they do so.

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3) Timeframe for this to occur? Will BTC-TC go on hiatus?

We won't be able to complete a purchase until after the exchanges close at the end of October. This does mean that there would have to be a hiatus, but that's not a big problem in my view; we will provide a simple tool to allow issuers to pay dividends using the shareholder reports .csv files in the interim while the new site(s) are brought online. This does mean that the securities would become illiquid for a time. My hope is that we could get it online for the start of December (ie. only one month of "hiatus").

Kate.