Hi nmersulypnem --

I have been informed from Bingham that they are not involved with litigation with MtGox.
The email from them says . . .

"Thank you for your email. I looked into your request and learned that Bingham is not involved in this matter. Apparently a comment in a blog incorrectly noted that we were.
My apologies for not being able to help you."

Please clarify the name of the law office who is dealing with this.
Why be so coy about it?

Strange the source code for the blank mtgox.com web site shows the following . . .


   
      
   
   
      
   

Thanks for the reminder.

To be clear, I did not mean to suggest that I would organize this challenge.
I do not have the necessary technical expertise to set up a web site etc, and have no contacts with a reliable known bitcoin person to act as "Chairman."
It was only a suggestion of how more competent people could address the issue.

I have just seen a legal remedy at https://bitcointalk.org/index.php?topic=476535.0

I have some issues with this approach:

a) It seems the law suit would be to recover MtGoxFiat only and not MtGoxBTC.
b) The minimum cash account to join the "Multi-plaintiff Suit" is USD 10,000.
This excludes small investors and those who wish to retain MtGoxBTC.
c) Those who join have little or no control over the strategy and actions taken. I think my proposal is more transparent.
Why hide the name of the lawyer?
d) The suit will effectively drive down the price of MtGoxBTC which is unfair to BTC holders.

Still, the thread has clarified that class-action suits are not recognized in Japan, which is why they call it a "Multi-plaintiff Suit."
If there is anything I have misunderstood, please correct me.

As a "Newbie" I expect to be shot down in flames, but rather than speculate and moan about MtGox, why don't we mount a legal challenge in Japan?
I have in mind the following:

1. A legal challenge in Japan using a Japanese lawyer to request timely repayment of all BTC and fiat MtGox withdrawals to those that require them.
2. Crowd funding (Kickstarter?).
3. A respected member of the BTC community, without any connection or positions in MtGox, to act as escrow for all donations, and to be "Chairman" (see Item 4).
4. A committee of (say) five to seven members to decide strategy and approve payments. In case of a tie, the Chairman may cast the deciding vote.
5. Donations in BTC for any amount. For those with positions in MtGox, the suggested donation is 1% of the total value based on the Coinbase Bitcoin Price Index (currently USD 578.10). In the interests of transparency, my own position with MtGox (BTC + USD Cash) is currently USD 12,085 (BTC = USD 578.1), so my contribution would be 1% of that or USD 121 = BTC 0.21.
6. Any excess funds to be donated to a charity as decided by the committee.
7. New "MtGox Legal Challenge" web site for exchange of information and views.

I see you have raised 0.006 BTC to date, or about $3.69. Should go far.
Perhaps if others have a serious suggestion for mounting a legal challenge in Japan, then I would be glad to contribute (if it's legit).

A silly and childish suggestion.

That's me - I've written down the cost of MtGoxBTC/USD to zero, but continue to buy MtGoxBTC.
Getting back cents on the USD if it goes bankrupt is of no interest to me.

It's a complete mystery to me as well. I presume they think it's better to hold MtGoxFiat rather than MtGoxBTC, but if MtGox goes bankrupt I don't think it would matter much.
I am steadily buying MtGoxBTC with my stuck MtGoxUSD (failure of MtGox to remit funds) and will continue to do so until I'm out of cash.
I've already written off the value completely in my accounts, so if (a big IF) MtGox ever recovers I will get a windfall.

Manobra - my query is about withdrawing USD FUNDS.
The three threads refer to withdrawing BITCOINS.
Have I misunderstood something?

May I request answers to the three specific questions on my original post.
I repeat . . .
1. Has anyone had recent experience with the current (not historical) delays at MtGox for withdrawing funds?
2. What sort of delay should I expect?
3. Is there any regulating authority in Japan to which I can make a complaint about the poor MtGox "customer service" and transfer delays?
Thanks.

Has anyone had recent experience with the current (not historical) delays at MtGox for withdrawing funds?
What sort of delay should I expect?

I requested a withdrawal of USD 8,050 from MtGox on 14 December 2013 to my bank account but 6+ weeks later I have not received the funds.
After several Support Request updates, MtGox offered to send the funds "sent through a manual process" for a 5% fee for a quicker service.
On 28 January 2014 I requested that MtGox either (a) transfer the funds with the 5% fee provided they can do so within 7 working days, or (b) cancel the USD transfer request and credit my MtGox cash account with the funds so I can buy BTC and transfer them out of MtGox.

I think the delays in transferring the funds and replying to Support Request updates are completely unacceptable.

Is there any regulating authority in Japan to which I can make a complaint about the poor MtGox "customer service" and transfer delays?
It appears that the Japan Financial Services Authority is not responsible for MtGox. So who is responsible?

Let this be a warning to others about this company.

I would prefer to make an Ubuntu LiveCD myself with the latest Electrum 1.7.3, but Remastersys does not appear very user friendly for this non-techie.
Could you provide some brief step-by-step instructions to get me going?
 

Hello carpetbagger,

Many thanks for the tips.
I did try the Electrum install instructions but it couldn't find Python-pip.

I successfully used Method (2) from
http://filon.us/slava/?p=189

Method (1) from this link did not work.

Of course, the problem is that I have to go through the same install procedure every time I use the UBUNTU LIVECD.

The version of UBUNTU with ELECTRUM installed works fine from https://blog.non.co.il/index.php/bitbuntu-livecd/

Steve
------------------------

I will try your LIVECD, but would prefer to assemble an iso myself using UBUNTU 12.10 and ELECTRUM.
Can anyone point me in the right direction to do that?

Steve
------------------

Hi jimafternoon, thanks for your replies.
I would like to try the LIVECD modified UBUNTU you suggested. I could scan it for spyware or viruses.

I don't want to install a dual boot system. In any case I use an SSD for Drive (C) which doesn't have much free space left.

I would prefer to make up my own LIVECD with UBUNTU to include ELECTRUM.
How to do that?

Steve
----------------------------

Thanks, but I don't know what a "Live CD" is.
I burnt the UBUNTU 12.10 iso file to a DVD start-up disc and want to use it in the "Try Out" mode (as I'm using now).
Unfortunately, my PC is not capable of booting from a USB drive. That's why I have to use a DVD start-up disc.

It seems that UBUNTU 12.10 already has PYTHON Qt-4 installed, but not PYTHON PIP.
If I open the UBUNTU Terminal and put in "sudo pip install http://download.electrum.org/download/Electrum-1.7.3.tar.gz" it says "sudo: pip: command not found"
How do I install PYTHON PIP on the DVD start-up disc, or is this not possible?

Any further thoughts or comments?

Steve
----------------------------

I would like to run ELECTRUM on UBUNTU v 12.10 from a DVD-R start-up disc.
I don't know if I can install ELECTRUM on the UBUNTU start-up disc, or just use a stand-alone version.
Maybe I could store the wallet.dat file by burning it to the UBUNTU DVD-R.
Hopefully, I could then store away the DVD-R in a safe place and delete the electrum.dat file from my WINDOWS 7 PC.

To use BITCOINS I just use the UBUNTU start-up disc (like I'm using now to write this post).
Then, if my PC goes kaput, I can get it repaired without fear of someone stealing my BTC by hacking into the electrum.dat file. 

But can anyone help in EASY (step-by-step) instructions (for this ancient dunderhead) on how to install or run ELECTRUM using UBUNTU from a DVD-R start-up disk?

I don't understand the LINUX instructions about "python" and "pip" at http://electrum.org/download.html.

Steve
------------------

Hi,

I'm using Electrum Windows Installed version.
Is the electrum.dat file stored in Drive C) encrypted?
I'm just wondering about the security of my BTC if someone (say a computer tech) has access to the electrum.dat file, assuming they do not have access to the Electrum 12-word mnemonic code and password for sending BTC.
Thanks for helping.

Steve T
------------------------