Because if a customer with a lot of coins flies to Japan to confront the CEO while being video-taped and _still_ doesn't get his coins back... people will believe things must be very bad.
I'm convinced that it's one of 2 things.
a) A criminal investigation + gag order.
b) MtGox really screwed up and/or got hacked. The funds are just plain gone and they're in the process of winding down the company into bankruptcy or something.
Flying to japan is a publicity stunt, nothing more. The public statement was that all withdrawals are halted since they need to consolidate their accounting. So why would they hand out bitcoins for people that show up in person? I'd be more concerned if they gave in and cashed out everyone that shows up in person and not online.
Edit: Parent stealth-edited, so I'll rephrase my comment. Original preserved here:
And then, the next one comes and want his bitcoins on the spot. And then someone makes a video of a withdrawal online that fails. The video on youtube does not add anything negative to the current situation: Withdrawals are not possible, in no way.
>>The video on youtube does not add anything negative to the current situation: Withdrawals are not possible, in no way.
If you think this video does not negatively impact MtGox's public image or cause people with funds stuck in there to become even more concerned, then I don't agree with you.
Oh, I do believe that the video is damaging to MtGox's public image, but paying out this guy would have been at least as damaging. They hit rock bottom and are damned whatever they do.
I sort of doubt if their public image matters at the moment: They either fix the problem and then can communicate that "yes, it was unfortunate but we could no do any payouts since we needed to fix the bug for all of you, instead of a nutcase that went to japan to pester us." or they can't fix it and go bankrupt at which point the video on youtube won't do any harm either. Nor do the concerns of their users: You can't withdraw funds, not at all, no way, no matter how concerned you are and how often you show up at their office. Be more concerned, go ahead. If I had any money on MtGox I'd be writing it off right now and throw a party when I get it back.
But you can't get neither (1) money nor (2) bitcoins from MtGox, so what does it matter what people believe? It's not like they can do much, or that releasing coins for privileged customers would help MtGox...
>> or that releasing coins for privileged customers would help MtGox...
I don't agree with that. If this person got his coins back, people would have gained a little faith that MtGox might actually get back on its feet. So at least that'd be positive PR for them. The fact that this guy did not get his coins back suggests to me that the situation, whatever it is, must be very serious and lowers my faith that MtGox will recover.
As pointed out by another reply, if this user had gotten his withdrawal processed, it would show that you more or less have to fly to Japan in person to get your money. If that precedent were set I believe that would negatively impact MtGox's PR in a pretty substantial way.
I'm not disagreeing with what you're saying. It would show that they at least 'have funds' to pay out, rather than what looks like them not having anything (or enough) to cover the coins. I just think that the realization that you need to fly to Japan would also cause a lot of negative PR for them.
Oh, definitely there'd be some people saying "Hey! That's not fair! We can't all fly to Japan", but I suspect the overall effect would be a net-positive. At least, after the the people yelling "unfair!" calm down. Might take a week or 2.
I'm convinced that it's one of 2 things.
a) A criminal investigation + gag order.
b) MtGox really screwed up and/or got hacked. The funds are just plain gone and they're in the process of winding down the company into bankruptcy or something.