Thats fair enough, but wouldn´t it be possible to include an up to date snapshot of the current blockchain (updated on a daily/weekly basis), as an option. Whilst the disk space being taken up is substantial the real issue seems to be the time it takes to catch up when first installing the client. Downloading via the network takes for ever. I do get that you may not want to do that via bitcoin.org. but how about providing it via a torrent link for example?

There actually is a EU directive covering anonymous electronic cash amongst other topics ( http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2000:275:0039:0043:EN:PDF ), essentially it´s the system that works for cigarettes and drink despensing machines. Point being however, that this is geared towards normal business in order to sell products in an anonymous way, pretty much a cash equivalent. Anyone can load this kind of "cash" to their bank card if they choose to do so; it´s been around for a couple of years and never really took of. But in terms of selling small amounts of bitcoins within the EU this seems to be a no brainer! Any odd company, not just a financial intermediary can apparently receive that kind of cash anonymously, in small amounts.
Supposedly it works both ways, though I´m not sure about this detail.

But hey, there´s a provision for anonymous electronic cash payments, is anyone using it in Europe?

Not sure if this is relevant, but it might be a way around current difficulties in Europe, as well as a entrepreneurial opportunity!

Let´s make it a bit easier: assume, as in Menis example, that 4000 blocks are found per month by individual participants, under the assumption that your non-parallelizable PoW is in operation. Assume further that all of these people just meet up and decide to share the revenue equally to smoothe out their income stream. According to what you have been arguing, the total number of blocks they find would go down to 1 purely due to the fact, that they are colluding in terms of revenue-sharing.
By definition 4000 blocks, will reduce to 1 by your formular magically devining social contracts?
Good luck with that line of argumentation...

Great, we´re finally getting somewhere! You promised to get in touch with Mark to impress the need for an external audit on him, I will do so too and if I got you right, you would encourage all the others reading and posting on this thread to do likewise. This might actually get things moving, thanks.

Really looking forward to seeing the outcome.

Great to hear that you agree that an audit makes sense. Given that you seem to be in close contact with the former as well as the current owner:


maybe you can pass along the common sentiment of this thread to Mark.

Not an accountant, but wouldn´t you need a SAS 55 too, to be sure? Also, from what I remember, isn´t this standard geared towards nonfinancial companies rather than financial organizations? In how far does this apply to MtGox, given that they are based in Japan, given that it is a US standard? What would be the japanese equivalent to ask for?

Not really, if you´d bothered to read geek-traders comment, if MtGox is run purely as an exchange, there can´t be a bank run by definition/it would not do any harm. Threatening violence "punch you in the face" and the "one of bitcoin's main pillars" defence, where did I hear that last? oh yeah, the last two MtGox issues, mybitcoin and lately the unsavioury Bruce Wagner/onlyone.tv discussion.
Not that you have missed a beat in actively defending all of these either...
But go ahead, call me a troll.

MtGox fanboy much?

How about just doing your due dilligence? There is a search function in this forum after all... Have a look and make up your mind. But this thread isn´t going to go anywhere, the "important" voices clearly are against you.

Didn´t take long for the fanboys to comment. As I said, it´s pointless raising valid questions about Mark/Mtgox, you´ll just get shouted down.

And he kind of has a point, it´s not like it is the first time for questions of this kind to appear about Mark/MtGox, more like the 4th or 5th round. Just because he´s "the last man standing" amongst major early bitcoin businesses doesn´t mean he shoud be excempted from scrunity, quite the contrary.
Though I don´t really see an audit happening. It´s been proposed before, it will be shouted down by the fanboys again.

In that case, I do want to apologize for ever having even harboured the slightest doubts! You Jed, are quite obviously a saint(or as close as one gets nowadays without divine intervention). Giving up a multimillion dollar business, signing a contract, not insistiting on payment, it sounds like a fairytale. You must be a truely wonderful and completely selfless individual to just wait for payment for your idea if/when it  comes.

The only question for me would be the following: Why keep an admin account to audit payments, if everything is dandy, if your first concern is the bitcoin community and you really don´t want to see a penny before everyone has been paid?

Furthermore, I don´t really get your final point:
"The fact that I haven't been paid yet has nothing to do with mtgox's ability to pay. It only has to do with the fact that neither I nor Mark have made time to complete the payment."

A BTC transfer should be fairly easy(if you don´t know how to do it just ask in the forum), or is it that you aren´t really willing to invest in BTC? In that case I do get it, the MtGox $1000 limit can be a bit of a nuisance.
Apart from the technicalities, let me get this right: You did not make time for/to complete a payment with 6 or 7 figures(by early June)

I love fairytales, but this response is BS.

You would be a truly unique individual to just let a multimillion $ business go.

So why not cut the crap and just disclose in how far you are still involved with MtGox?

So your statement is, that MtGox currently does not even have the spare cash to pay the price/license fee currently, which you asked for as a fair price(when handing over MtGox) at a time when commissions were running a lot lower compared to todays rates and volumes?

Essentially what you are saying is that MtGox´s  current liquidity is (not) in question, but that MtGox is in debt to you, it´s original founder.
If I get you right, Mark does not even have the cash to pay you for selling him the idea and the original platform?
Apparently cash is so tight, that you have not received any money to date?



Can you conceive of any reason why customers of MtGox might find this slightly worrying?

So which part exactly did I get wrong? Because Mark seems to state quite clearly, that you a) were the auditor in question(with admin powers) and b) actually did receive money ? Is Mark (MagicalTux) lying in his statement?

Give Mark a break!

Yes, the fees are a bit steep, but he still has to pay for the franchise, after all he just bought the exchange and probably got a bit more than he bargained for...

Jed,
obviously mistakes were made but given that these haven´t exactly been the first ones in MtGox´s history, it would be very interesting to know what percentage of commission you are taking and for what period of time, furthermore what your additional(finanicial) interests in MtGox still are. You´re message when handing it over(paraphrasing): I´m bored and I just dont want to invest that much time ( http://forum.bitcoin.org/index.php?topic=4187.0 ), was less than honest, especially given the fact that you were facing legal action in connection with prior inconsistencies( http://forum.bitcoin.org/index.php?topic=3712.0 ).

Are you willing to verifiably disclose what your current interests in MtGox still are(does Mark actually have the funds to compensate for losses?; are you skimming off all the profits?) or are you going to keep this cloud of uncertainty hanging over MtGox customers and therefore the wider Bitcoin community?

Interesting, negative bitcoin users???

Not really, we´ve just seen mybitcoin and MtGox compromised, Clearcoin is not inherently safe either. What I proposed would be a decentraslized option in keeping with the overall philosophy of bitcoin.

Don´t really see why you would thank me, I basically just called you(and this thread of yours) a troll, whilst trying to be polite about it.

I´m sorry, but this whole thread is a bit pointless.
Either you assume that MtGox adheres to it´s policy of not being a counterparty(i.e. not participating in the market) or you assume that they are not honoring their word.

If you believe they decided to cheat/manipulate the market, following your strategy of buying low and selling high, would be a rather inefficient way of going about it. It would be far more easy and lucrative to simply run the whole exchange on a fractional reserve basis, especially given that they have full and unaudited control over entries in their database and a strong influence over how and when outgoing payments are executed.

So either MtGox is being true to it´s word(no buying for their own account), or they are cheating in which case following your ´Master Plan´ would be about the most inefficient way of going about it.