Bitcoin Forum

I would like to know a time frame for getting all or part of my 11.82627776 BTC from MtGox.  Getting on in years and want to buy a cemetery plot up in NY rather than stay down here.  That would go a long way to buying the plot and prepaying my shipping.  Still waiting for mullet sporting bounty hunters/skip tracers to haul Karpeles to the US, apprehension to be seen on TV, so he can appear before court.

good luck with that.

I'd assume you will get about 1/10th of them, in no less than about 6-12 months :/ others may be even more pessimistic!

Bankruptcy cases take years to resolve.

I wonder what kind of Criminal charges there could be for someone to go grab him from where ever he is in the world?  Probably face felony charges for kidnapping in that country, but would the USA send one of their own people to go stand trial in Japan over that horse shit.  After seeing Army Sgt. Bowe Bergdahl come home and be treated like a hero, I don't know what to think any more.

https://i.imgur.com/klVxcap.jpg

White collar crime usually get a small slap on the hand.

So, 2-5 years in minimum security prison with hooker and big screen tv?

Don't forget Xanax for all the anxiety of being in jail.

You won't be getting the money back soon if at all. Bankruptcy is VERY tricky, and using a crypto currency into the equation it all changes.

its very difficult that you will get your money soon cases like this take too much time you have to wait for more then 1 year for this

Maybe in 2 years or more you will se 20% of your bitcoins.

How? They have about 20% NOW. But have years of costs ahead.

I don't think they will sell part of the 200k bitcoin to cover their cost, selling good of a failed company is not a simple thing to do.

You know that they will sell everything and distribute in FIAT, right?

This can only be prevented if an agreement is found.

Yeah i know, but I prefer to be optimistic and hope that they wont sell btc in FIAT, I'd rather see my goxcoin burned.

Sucks to be you! I hope you learnt from this to NEVER EVER EVER leave coins in an exchange.. if the coins are in an exchange then you dont own them.

As for a repayment, You'll be lucky to see 1/5th of that in 12-24 months if and that's a huge IF you're lucky!
Sorry champ!

People lost a lot of money there. You are probably right but you could be a little nicer about it.

So, I guess the coins are just gone and that all the follow up analysis of the blockchain can't ever result in recovery.  Too bad.  Did read that analysis that showed the insider buying and selling, with multiple addresses that would follow one another, total BTC taken in the amount of about what MtGox is missing.  Sorry I don't have a link.

Guess it was a no-go on trying to get Dog and his gal to track fat-azz Karpeles down and drag his latte drinking butt back to the states huh?  Damn shame!  Have more than a couple of friends that would love to see him do his little "apologetic bow" in person.

"I would say zat zee bitcoin certainlee qualifies as zee high risk investment!" -Mark Karpeles

Old youtube video interview of Karpeles.  Wow, he was slimy even back then!

i doubt you will ever see the 11.8 BTC again.

Or even 1.8 of it sadly. The lawyers and creditors will eat up the leftovers long before the customers get a share.

Yeah, its a some real shitty shoes to be in.. but.... if you cal now, we'll include a 2nd pair of these shoes for free.. just pay 55$ S&H!

Not a great believer in the rightness of USA's legal system but I wonder if putting the matter in the hands of an attorney would benefit me.

There are several different class action suits. But even they are saying that if you are no major holder of gox funds, it isn't worth joinging..

So there is that.

I got into bit coin right as that was happening. I got a free education at a perfect time.

The BK process can take years to complete. I would guess that you would receive some kind of recovery in 2016 (I have no evidence to back this up).

Based on the fact that they recovered ~20% of the lost coins I would say you should expect a recovery somewhere in the 25% range (20% from coins, 5% from selling technology, trading platform, ect.) but that is just a guess.

you will be lucky if you ever see any of your BTC ever again.

Yes, that sums up the value proposition. Chance of seeing some percentage of coins vs cost of those coins.

lol good luck man. You won't ever see those Bitcoins again. Chances are they MAY stat issuing refunds in a few years, and the Price per bitcoin may sky rocket then and at that point, they won't even think to refund you.

And bankruptcy will complicate my income tax return.  Holding those I have in my wallet as a hedge against inflation, doesn't allow me to apply that loss to mitigate tax as I ain't selling.  And I believe I must declare the loss this year or I lose even that tax mitigation.  Maybe I'll have to do a wash sale and purchase just to sort it out.

I disagree with this statement. The OP will likely see some kind of recovery as GOX does have some assets.

The fact that Bitcoin is involved will likely complicate things as there is no precedent for how distribution should be handled, plus the fact that GOX has creditors from around the world and are relatively small as a percentage of total claims.

IMO it will take several years to resolve GOX and the OP will see some kind of recovery.