from Hacker News

Mt. Gox – Business Plan 2014-2017 [pdf]

by julespitt on 2/27/14, 5:38 AM with 46 comments

• by meowface on 2/27/14, 8:09 AM

  >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.

• by downandout on 2/27/14, 9:27 AM

  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.

• by newbrict on 2/27/14, 7:07 AM

  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..).

• by eik3_de on 2/27/14, 8:59 AM

  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.

• by Zweihander on 2/27/14, 9:49 AM

  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.

• by jheimark on 2/27/14, 7:40 AM

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

• by pistle on 2/27/14, 8:57 AM

  "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.

• by ck2 on 2/27/14, 11:38 AM

  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?

• by danielweber on 2/27/14, 1:47 PM

  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.

• by PhasmaFelis on 2/27/14, 8:44 AM

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