Post
Topic
Board Legal
Re: Mt.Gox Multi-plaintiff Suit
by
sturle
on 20/02/2014, 17:39:27 UTC
I strongly suspect that he wants people suing for USD entirely
USD?!  This advice doesn't make sense unless you have USD on MtGox yourself and wish to buy cheap coins.  The price in e.g. JPY is constantly 2.5% above the price in USD, and a currency which is much more liquid inside Japan, so why not JPY?  Or EUR?  The price in EUR is constantly 2.5% above the price in USD as well.  And since all movement of USD has to go through US banks, you may bump into the USD liquidity problem MtGox has had for a very long time.

The answer from MtGox when people have threatened with lawsuits to get their USD out has been:
Quote from: MagicalTux in #mtgox
03:03 <@MagicalTux> x, a class action in the US to force us to do something the US govt prevents us from doing might not lead you very far

And AFAIK none of the lawsuits have been successful so far.  So why lose 2.5% extra when selling to get a currency which they have problems delivering?  This just doesn't make sense to me.  EUR should be just as good as USD, and more liquid.  JPY even better.  So why USD?