Bitcoin Forum

If anyone out there has got gox coins, and not read the fine line of the sunlot deal then you should check out the faq on savegox.com

They have valued your bitcoins at $500 dollars each bitcoin that you hold. Is this fair. The price is gone way up.

So when this deal comes or if it does, hell knows what the trading price will really be compared to the deal

How was that deal agreed to with not all creditprs being informed about it in the first place

Seems like any dealmaker is going to put an offer on the table and all creditors are at the mercy of the major holders
I say that if this is going to be the case then I ask all major creditors to please look at how it would best help all creditors to gain the maximum out of the deal and not just a few

If any of you cannot make a choice then please consult trained advisors such that you make the best choice.

what was the price when gox went dork?

likely they had to set a price a few weeks back in which case 500 usd was fair

and from what i gather the sunlot deal to re-imburse the gox folk is dependent on BTC going up (if all of us who drank the kool aid are correct)

in other words you may in a few years if they legit mean this get your $$$ back in equiv USD if price of BTC goes up as us drinking kool aid folks want

Searing

$150..
so some people that were still trading on goxxday and managed to buy up alot of $150 coins, are going to be in for some profit. as oppose to those that held and didnt trade, imagining their hoard is still worth todays market price are in for a shock..

and those that stupidly sold for $150 thinking they could bank transfer out before gox closed are probably scraming at themselves for losing out in more ways than one

Gox coin doest worth anything any more !

what was the price when gox went dork?


$150..
so some people that were still trading on goxxday and managed to buy up alot of $150 coins, are going to be in for some profit. as oppose to those that held and didnt trade, imagining their hoard is still worth todays market price are in for a shock..

and those that stupidly sold for $150 thinking they could bank transfer out before gox closed are probably scraming at themselves for losing out in more ways than one
[/quote]

Hey everybody add this for another shock.
http://www.cryptocoinsnews.com/news/outrage-bitcoin-exchange-mt-gox-expenses-creditors-prepare-fly-japan/2014/07/06

Im catching a ride too! But hey goxsters dont be too mad at me. Blame it on the planeride ticket. Its always shell shocking
WELCOME TO THE SUNNYLOTTERYRIDE
LET ME BE FRANK START THE LOSS ENGINE AND BE PREPARED TO CRANK CRANK CRANK COS IT GOT TOO MUCH KUKELES OIL

Yeah this is BS if they try and give us $500 per coin next year that will suck. I thought the plan was to pay us back in BTC?

depends on rule of law..

usually in most countries the compensation should match the price to be able to obtain a replacement product/asset. (fair market rate)

so if someone stole a lamborghini, the courts wont accept a compensation amount to only give people enough to buy a 20year old toyota..

but then again $500 is better then $100, and better then $1.... basically expect losses as you accepted the risk when giving funds to a third person.

and if you think about it.. $500 along with the 200kbtc #found# may end up being equal to make people whole..

Hi guys if you dont know, another Gox bidder
http://www.btcocean.com/
They are offering 45% ownership to Gox creditors.

Any other bidders any other bidders.
Come on guys time is going
Wait wait I hear someone offering 99%
Anyone for 101%

I think (read: only THINK) I might be okay with taking a $500 deal per bitcoin if it were to happen sometime in the very near future. I would rather take a haircut and get on with my life then anything else. That said, I would much RATHER if someone were to restart the exchange, under proper management, and made me a part owner, with profits going to slowly making me whole. That said, I think as more time passes, the less likely that seems. Although that, in my mind, is the preferred solution.

From what I can tell, the law in Japan says that when a company liquidates it must sell off all of it's assets and repay it's creditors in fiat. This is true even if the company holds foreign currency, that currency must be sold for yen

If Sunlot Holdings seriously intends to pay you back, then why are they planning to pay a person/company who charges $900 per hour?

In the filing, the group listed Freeh Group International Solutions, a firm established by former FBI director Louis Freeh that has carried out a series of investigations into high-profile scandals, among a team of advisers it planned to tap for Mt. Gox.
http://in.reuters.com/article/2014/04/11/bitcoin-mtgox-investorgroup-idINDEEA390FJ20140411

Mr. Freeh's hourly rate is $900.
http://online.wsj.com/news/articles/SB10001424127887323420604578652451181350238

http://www.reuters.com/article/2013/08/06/us-mfglobal-trustee-fees-idUSBRE9750NB20130806


tx1 ----------> tx2: 3.5 hours.
tx1 ----------> tx3: 2.7 hours.
tx1 ----------> tx4: 4.1 hours.
...

"Mr. Freeh, how many of these tx thingies are there?"
"Unknown, because as its already been demonstrated, Mr. Karpeles was a pretty slick dude. Knowing that my pay scale is $900/hr, where would you like me to remit the bill for my minimum 15 minute session in answering your question?"
"But, at the end of day, creditors would be owing you money."
"For a second there, I thought you didn't know how Bitcoin works. BTW, that'll be another 15 minutes added to the bill."
"I like how you think!"
"You just earned a discount. Now, let me get back to work."

tx 1 ----------> tx5: 3.9 hours, plus 15 minutes (see Form D)...

Not surprised but glad to see people staying on top of this issue.  If this deal is for a relatively short wait time for payment then I'd say cut your losses and get it over with but I didn't loose any funds in the debacle that was GOX.  This isn't going to work out for the better the more time passes the victims will be in limbo.  So yea most definitely pursue any type offers in my opinion.

Greetings bittalkers,
We are all aware of the creditors meeting around the corner. People from all over the globe who have a vested interest in this must go if it is going to help them and all those creditors that cannnot make it there. We must be there for the entire bitcoin community. For all that supported bitcoin and lost and have bitcoins tied up in gox.

I also say that the creditors need to stand together on the issue of the remaining bitcoins. I believe most of you out there and also urge each to do this: Ensure that all those bitcoins in gox are not sold off to pay off creditors but rather agree with the plan to have the bitcoins distributed to its creditors.
Supporting the bitocean/atlas plan might be the more feasible way for all creditors to recover all that was lost.
For anybody wishing to take payment in dollars they must consider the loss that all bitcoin holders will suffer from the sale and distribution of the coins. These coins will be sold off like dirt and it could also affect the entire bitcoin community.

Proceeds from liquidations never ever make up for creditors losses, so don't let anyone convince otherwise.
The very workings of bitcoin and design of it was to be such that no person have control over it except its owner and here we have 200000 of it in the hands of a liquidator. Bitcoin must not be controlled by anybody but by the owners of bitcoins themselves.

SO I SAY TO ALL BITCOINERS " LETS STAND TOGETHER" AND CREATE A REAL "DEMOCRATIC AND DECENTRALISED CURRENCY"

The exact price when Gox went dark was $133.35

The reason I know this is because Gox still shows up on my BTC price tracker, and that is where it settled at when everything came to a screeching halt...

What ever happened to the investigation of the Bot that everyone was talking about...it's been crickets about that for awhile too.   Did that become part of the main investigation?

This was gox only price though, wasn't it? I recall seeing people trade BTC for gox btc.. at around $150 but the value was much higher.

Edit: just looked BTC was around $700 in feb.

Yeah, they were doing that...remember that one guy started that company that was just buying up all the Gox BTC at a discount (thinking that if they somehow managed to re-open he would quadruple his money)?

you dont get even one satoshi from there because Mark already bought alot of pizza with it.

To all creditors -
Anyone attending the mtgox creditors meeting?
Well if you are then as a creditor you should opt to take the best deal that anyone has to offer and not just what the liquidator is trying to put through.

You should consider the deal that Bitocean and others are offering. Creditors must gain the max benefit from the loss that they have suffered

Remember, support the return of creditors bitcoins.

Good luck to all going to the meeting and have a safe journey.

Hi People,
Now that the first long awaited creditors meeting is over, we have a few things to think about.

During this long wait, lots of money (hard cash) was used to sort out expenses relating to mtgox.If one has to look at the costs that were involved, it makes one wonder how such costs would eventually add slowly slowly to the drain of whatever assets are left of mtgox by the time we have the next creditors meeting which is far ahead in November.

By the time that comes i suppose we will have another set of expenses to look at maybe?
Should it not be the liquidators top priority to round up all assets and look for a suitable bidder to take over gox?
Should there have been greater clarity with regard to the ongoing investigation on the stolen coins?
Should the company doing the investigation have had mtgox members or possibly an oversight team to work with the investigation team?
Can't all the major creditors (coin holders, cash holders) ask for the process to be speeded up?
How can we tell if some coins could possibly have been already recovered but not publicly reported because no details of the investigation have been made public?
Where or how could the BITCOIN FOUNDATION could have helped in this whole mess? Did they?
How does bitcoin keep the title of being a fair currency, if we now have 650000 coins in the hands of stupid idiots? I say stupid because they have done more damage to themselves than they think. I say fair because people will always remember that some selfish people got bitcoins the illegal way. People will always feel cheated.

Though the amount stolen is just a fraction of the total, it has done bitcoin damage, agree?
Why do well known companies still adopt bitcoin? Did they research the more effecient coins?
Is there not a better currency to adopt out there?
Are these companies just trying to jump onto the bandwagon before getting left behind?
Good companies will not support a coin that already has 650000 sitting in the hands of criminals, right? Or are they good companies?
Am i not right in saying that, other coins had a more fair distribution, did not have a huge chunk end up in criminal hands, is more easy to maintain in terms of cost, is also just as secure from hackers, has more features to offer, has a fast growing user base, has a growing developer base, has better coin foundation rules, gives all foundation members equal voting rights, does not require expensive foundation fees, has a dedcicated security and support team, and last but not least allows 650000 coins to disappear and not have a FUCKING!!! backup plan. After all if we are to expect it to be the coin of the future and to be used as a means of everyday exchange, surely there must be measures to protect people when they have coins stolen from them. Peoples lives will get turned upside down if this is to be the coin of the future.

Now how many will come to adopt bitcoin if this goes on?
In simple terms, developers out there who are working on their coins let us try to come up with something better for the people of the world. The world needs it

Sometimes the truth (mixed with a bit of parody) is more amazing than any fiction story.

Thanks for the info from the creditors' meeting. But I would like to comment on your question.

This loss has absolutely nothing to do with bitcoin, and has everything to do with entrusting irresponsible parties with vast sums of money.

I wont be too worried about getting a good coin for the world...

Surely the giants are must be quitely making one right at this moment...

And what it might be...

GOOGLECOIN ;D FACEBOOKCOIN ;) YAHOOCOIN :) MICROSOFTCOIN :P AMAZONCOIN ;)EBAYCOIN
PAYPALCOIN :D....THE LIST GOES ON AND ON AND ON

tired laughing
cya

Forget about getting anything back soon.
Liquidator has moved deadline date for investigation of claims to september 2015

Tokyo police investigation says that only 27000 bitcoin was stolen from mtgox.
Is this true?

Is this site a scammer?
apsjex dot com

All Bitcoin owners should be encouraged to click on potentially 'highly suspicious' links.  :D

People don't forget that the new deadline for filing your claim to gox assets is end of May 2015 and not November 2014

On the subject of claims, I was just reading all over the net that the tokyo police did confirm the illegal removal of only 27000 coins from mtgox.
They also confirmed that they will be investigating what happened to the other 600000 or so.

According to one site, the tokyo police were hinting of the possibility of recovering 544000 coins. Well whatever the outcome is, I for one find it rather strange that 650000 coins could have been illegally removed without management catching on that theft was taking place, unless they did not need to worry because no theft was actually taking place on such a large scale.

Should the police manage to recover a substantial amount of coins, I wonder what the outcome would be if creditors settle for a deal before it is recovered. I'm sure we all would like to see any further coins that are thereafter recovered, be returned to gox's creditors.

What would the price of each coin be if it is recovered? Guess Satoshi knows

Lets wait and see

I remember when gox BTC was like 900 bucks when market value was 800 and I logged on one day and seen that MtGox coins were going for $190. I was tempted to transfer some $$ to the account and hope that it will ride out through the rough and come out with 5 BTC for less than $1,000. To this day I am so glad I never done it.

If Karpeles was the one who controlled all the private keys then I highly doubt that the Tokyo police are going to get any BTC back. Unless he gets formally charged and then cuts a deal and confesses that he still controls all the coins.

In the press conference broadcast on Japanese TV, did Kareples specifically say that all of the BTC was stolen? Has he been quoted saying that at all?

Him happening to find the 200k Bitcoins as soon as people started looking at the blockchin is so suspicious though isn't it.

Before the press conference broadcast on Japanese TV he said he "doesn't currently have control" of the coins (or something very similar), which had many people thinking they can be recovered.

Well that doesn't sound fair, but maybe it's better than getting almost nothing from the bankruptcy case?

I hadnt used mt gox since bitcoins were with $30... I still had about .3 in my account. But I suppose that they are long gone... it would be nice to get back those .3 now  ;)

Did you file a claim?
There are probably thousands of people with small Gox balances and many might not bother to go through the process.

How can I file a claim? I mean could I even get them back?

Has filing even opened yet? I haven't found anything about it.

+ frappuccinos

How many bitcoin did they manage to recover? The asset they hold able to repay how many percentage of the total liability?

Isn't the court accepting claims from "creditors", or is that happening in the future?
I was fortunate to have pulled my BTC out of Gox in time.

It was at ~23%, but... The legal/court costs are HUGE, so I'm not certain you will actually see anywhere near ~15 to 20%.

Just a reminder bicoiners that the closing date for filing claims is end of May 2015 and investigation of claims is september 2105.

Has anyone heard from anyone, if someone is willing to take over Mtgox assets and cut a deal with the Japanese liquidator or is in the process of doing so. Please update us here if anyone does get any info.

Seems like the Mtgox fiasco has really caught many a peoples attention.

Mystery of the missing coins has got many people postulating many theories and also trying different options in a bid to find those coins.
One such person by the name of Jason Maurice of Wiz Technologies has been on the hunt for those coins and gives his take on what might (I say might) have happened to those coins. He believes that hackers may have hacked the Mtgox database and created fake cash balances, then in another twist used those cash balances to buy a whole lot of bitcoins and then merrily merrily transfered those coins out of Gox.

His investiagtion is still ongoing but he believes that there could be a possibility that the hackers may have left a trail, and this could take one to the missing coins. But what next, when "you cant touch this"
Well news for you hackers: Start covering your tracks you tiny little thieves, if you have not done so. Mind you, I must warn you little thieves that if the "YAKUZA" starts coming after you, then you better find a hole smaller than a coin to hide in, because you only need to read stories of what they will (and really will) really do to you.

Has anyone heard of anyone, who is also conducting an investigation apart from the tokyo police. let us know here.

When was the last time MtGox was associated with something possitive?

Yet another asinine thread bumped by a guy with multiple points for the SOLE PURPOSE of getting views/clicks on his shitty ad banner.

arcanum = buzzcoin = OP = Click-fisher for $$$

Does anyone really give a fuck about Mt. Gox anymore? Nope. But people still care about ad money!

Update:Link removed

Este lot of things even after he shut the exchange seem suspect
I'm wondering what is not

Bithappy if thousands dont file a claim then all mtgox creditors need to be given stats on the number of filed and approved claims
Everything is just so secretive right now that we know zilch

Nko you need to wait till end of November. That is when the mtgox lawyer will update all creditors. There will be a form posted on the Mtgox website to file a claim.

Tinof they got 200000 but as time is ticking the funds in mtgox are being used to pay expenses. If all the creditors can get together and stop wastefull expenses then all creditors might get something back.

If you look at the time that is going to pass before any claims are paid, then you could probably say that creditors are going to get peanuts back

Ya they probably not a charity so all creditors need to look at all options

Arcanum when do you get anything positive when its a liquidation
All that remains is for people to find the best way forward and to do that people need to come together in discussion on the best way forward

Belithon no need to worry posting here on your version of an asinine thread, but remember there are some very concerned people who could do with some sort of help or information from inside sources, considering that not much has been spoken about in the creditors meeting.
Creditors dont know much about the progress of the ongoing mtgox investigations and any reliable information might help.
Have you tried calling the mtgox hotline? TRY and let us know how much time you spend waiting and how much info you get.
This liquidation process is not a cosy ride for creditors so try to help maybe with news of any new reliable info or by suggesting some useful ideas to those creditors that we may not know how they are dealing with this liquidation.

FOR THE RECORD: WHEN I REGISTERED THE USERNAME "BUZZCOIN" I NEVER EVEN KNEW OF ANY PERSON OR COMPANY USING THAT NAME NOR DID I DO A GOOGLE SEARCH OF THE NAME, AND I AM NOT AFFILIATED TO ANY OTHER ONLINE BUZZCOIN NAME/TRADEMARK/COMPANY ETC ETC.

FOR THE RECORD: I AM NOT AFFILIATED TO ARCANUM EITHER OR ANY OTHER USERNAME ON THIS FORUM.

FOR THE RECORD: ARE YOU AFFILIATED WITH ARCUNUM OR ANY OTHER USER?  ARE YOU A CLCIK-FISHER OF SOME SORT? OR ARE YOU ONE OF THOSE GOD GIFTED BRAINY HACKERS, WHO IS NOW CURSED AND HUNTED, FOR STEALING ALL OF MTGOX CUSTOMERS COINS AND CASH?

From what it looks like, if BTC creditors are paid separately from fiat creditors then BTC will receive ~25% of what they are owed and fiat should receive ~85% of what they are owed. If they are all paid at the same rate then the amount that BTC creditors receive would not increase by much because the vast majority of the claims are for lost BTC.

I don't think gox has many expenses now, most of their expenses are likely related to the processing of the claims of creditors.

It's better than playing the lotto with what Mt. Gox will decide to pay back. Mark's fraud needs to be exposed and the Bitcoins dispersed back to the owners of those Bitcoins. I don't know if we'll get all of our money back otherwise. I last bought on GOX at $750 or something like that and I thought the Chinese news was what was causing the drop. Instead of selling at $500, I didn't panic sell. Had I done so, I could have made five times my money back.

Hi people, found this article and had to read because now it says there are 240000 coins, but all the time I heard there are 200000.
So what am I going to hear next?, 1.5 million coins

Man sometimes I can really laugh at this crazy world we live in

  thecoinsman    dot   com /2014/08/interviews/interviewed-bitocean-ceo-nan-xiaoning/

With the mtgox fiasco being long forgotten, Mark Karpeles launches a new business, "forever.net" selling VPS, VoIP & dedicated servers: bitcoin is NOT accepted.

http://de.reddit.com/r/Bitcoin/comments/2eh2du/with_the_mtgox_fiasco_being_long_forgotten_mark/



Mark will ruin that business too.

And our big friend even made it to the ZH pages:)

http://www.zerohedge.com/news/2014-08-25/disgraced-mt-gox-ceo-goes-second-try-web-hosting-service-and-no-bitcoin-not-accepted

He should have called in 'forevergone.net'.

I did not post it here because it would cause too much offtopic replies:

However: the post would fit in here: I want to try to find out wether MtGox was an inside job. All you need to do is reply with a % number (like 42%) to express your opinion.
I will incentives this by giving 10mBTC per vote.

https://bitcointalk.org/index.php?topic=756876.0 (https://bitcointalk.org/index.php?topic=756876.0)

The interesting part of it that the result will be a nice graph that may bring us closer to the truth.