And what about the GOXBTC at Bitcoin Builder? The owner of that site would not be very happy either if the trustee chooses to payout both JPY and BTC.
Does anybody actually know if Bitcoin Builder filled a (BTC) claim already?
Fair point; but I don't think that the Bitcoin Builder has any legitimate proof that (all of) his claimings were valid. AFAIK, many of the alleged "clients" may have been people with "virtual" BTCs (ie: non verifiable accounts). Who could know such an information for sure? Well, that would've been only the trustee. Anyway, we're just hypothesizing here and I don't think that any of Jorge's claims is bolder than mgroenouwe's or Dargo's ones for that matter. I guess we will have to wait until September, even though I tend to believe that no BTC sales will occur for the reasons that Dargo has mentioned. In any way, Dargo and Kraken should be the first ones to know. |
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Jorge, why do I have the impression your assumptions are nothing but personal opinions and totally not fact-based? Did you ever bother to read the comments right after the link you posted? And since when a ponzi (is this even certified?) scheme is bad to take BTCs for its "service"? Besides, from my point of view, the rise in the price could as well be because some people needed to convert to BTC for a gazillion other reasons than this one... |
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and ~~trust~~
I've often have been characterized by my friends, as a naive person. This is due to my norm to take people seriously whatever they throw at me. I always listen carefully but also take some time to judge if what they claim is valid or not after they finished. I wasn't always like that. I often had turned down people in the past, that I found incapable of presenting something that (from my point of view) they didn't know very well. Huge mistake. And then; something happened. It was this specific incident that came rushing into a Tuesday afternoon and unexpectedly changed everything. Please take my word on it: EVERY person is significant and has something to offer to you.No matter if they look smart, fool, educated or not, poor or wealthy, beautiful or ugly, young or old, or whatever. Sometimes it takes a leap of faith from your part to look deeper on something that some random person -you've might never met before- has to say to you... Take the chance. Take the gift. Most of the times it may not change your life. But there's this one time, that it will certainly will... and it will truly matter. I know that the above text may not touch everyone. For some it may sound like gibberish; I cannot blame you. I will indulge you though to take it seriously. It's a leap of faith. Or; if you prefer, a matter of trust. Cheers. |
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Three more sockpuppets were added. s_barhotski
Count Chocula
hndgy If you notice any others that I accidentally missed please post their nicknames here and I will add them as well. Please update your ignore lists. |
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So if I understand it correctly ALL currencies are converted into JPY with a conversion rate from the date that MtGox went offline. After the deadline for the Bankrupty Claims and after checking all the claims, the trustee calculates a percentage, based on the total available JPY and the total amount of all approved claims.
At an unkown date the trustee will payout the percentage based amount to all affected customers. This amount is in JPY also. If you want to be paid in a different currency, the amount of JPY is converted into that currency with the conversion rate FROM THAT MOMENT (the payout date).
Example
If I would like to be paid out in Bitcoin, an initial conversion rate of $483 is used (correct me if I'm wrong).
Let's say I've 25 Bitcoin and the calculated percentage will be 20%.
Total claim value in dollars: $483 * 25 BTC = $12.075
Payout 20% = $2.415
Conversion into Bitcoin based on initial rate ($483) = 5 BTC
Conversion into Bitcoin based on current rate ($230) = 10.5 BTC
In the future the trustee will ask us again in what curreny we would like to be paid out.
If the above example is correct, the final choice from everyone will depend alot on the Bitcoin conversion price (September 2015?).
If the (near future) Bitcoin price is to high then there is a risk that the trustee has to sell Bitcoins (market/auction)...
Another thing is that if the Bitcoin price will be $800 at the payout date, the trustee will have Bitcoins left in his wallet AFTER all the payouts are done.
On the other hand, if the Bitcoin price stays at the current rate, the trustee hasn't enough Bitcoins in his wallet to payout everyone.
This is more complex than it looks. There is an option to obtain BTCs (a fraction) if you owned BTCs back then. It's also doubtful if the prices you claim will be those. For instance, I remember some $150 trading into MtGox back then... |
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This thread has helped many people! Seriously!
And Macsga I have sent them $220 or so via moneygram. I just 1 BTC but forgot to send the remaining 0.0084BTC! Can you provide me your address? I want to send it back to you! And yes I've told them to send me the required pictures!
I'm not sure that I can even buy you a beer with this BTC0.0084 (=$1,9488 does this even buy a beer where you live ?) but I can offer you one if you 'll ever manage to get yourself in Greece. I don't need any money back, you can keep it for the hassle I've put you into doing all this. Thank you for your service and for the chance you, vocain and Rpietila gave me to do some good. Take care.  |
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Greg, one question. I'm trying to withdraw funds from the Slots for 3 days now with no luck. The Lightbikes work perfectly though. Is it me or the servers? Thanks.
Hi, will you private message me your wallet address causing the problem Best Greg Unfortunately the phone in question is dead (the power supply insert plug was broken) and it's now sent back to the service (hope they don't steal my GCNs, it was about 20M in there!!!).  I think the problem might have been the fact that it was unable to sync the wallet while it was off grid. BTW: Is there a way to sync the wallet while on battery? Even if you untick the tickbox inside the preferences this doesn't work. Anyway. I have another phone now; a Jiayu S3. I will load it up and play a couple of hours to see what happens. Thanks. |
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Willing to enroll to the current campaign.
Name: macsga
Activity: 896
Posts: 2762
BTC Address: 14AZeFeVTwaZvrTcRGabcrjRnowoAG4vCQ
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Do you plan on adding XMR/Monero to the exchange?
We have no plans to add XMR at the present time. Hello Dargo. I'd endorse you and any colleague of yours at Kraken to reconsider about XMR. Being closely monitoring this altcoin it truly presents unique features, a great community and a devoted devteam. The only drawback is that it's not easily adopted due to the missing embedded UI (you will have to use an external one). Nevertheless, XMR has potential, a growing and stronger, than other altcoins, base and truly deserves a bold name like Kraken behind it. |
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@Macsga As I told above, you can send it to that address! I will be changing it to western union or money gram and sending money to the volunteer teams working for the Earthquake Victims at Gorkha,Nepal! I can send you some pictures of the volunteer team if you like 1.00453401 coming your way Sarthak. Use it the best way you can. https://blockchain.info/ru/address/12eZVGQXywuY1S42xXDojpJ9j1R52gSvLNWow! This is the largest donation I have ever got till now! I will send you the pictures after the money has successfully transferred and I send it to the group of volunteers working at Gorkha! Thank you for the support towards my country Edit: The money has been received! Will be transferring it to MoneyGram Now! Once again, I thought you were Joking but you weren't! Thanks a lot! You want me to PM you some pictures of the volunteer team? I personally don't need any proof of concept. Money (in any form) doesn't make people happy. People make people happy with their good deeds. If I had more into that wallet, I'd donated more. Do your best. |
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My best wishes to CryptoVPN for a prosperous future.
Thanks Carra23 for this great campaign and your excellent administration. Looking forward working with you again.
Cheers.
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@Macsga As I told above, you can send it to that address! I will be changing it to western union or money gram and sending money to the volunteer teams working for the Earthquake Victims at Gorkha,Nepal! I can send you some pictures of the volunteer team if you like 1.00453401 coming your way Sarthak. Use it the best way you can. https://blockchain.info/ru/address/12eZVGQXywuY1S42xXDojpJ9j1R52gSvLN |
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Thank you Vocain, for letting me participate in this great initiative. Congrats to Rpietila for the initial idea.
I live in an earthquake country. When I was a teenager I witnessed a huge earthquake in my hometown that killed 30 people (some of them my friends). The worst part was that people were desperate and had no access to 1st need things even a week after the earthquake.
I've decided to donate to the victims of the Earthquake my whole BTC (plus some mBTCs of my own). If anyone can help me find the best way these mBTCs find their cause, please post their donate address and I will redirect the amount to them.
Cheers and happy Labor day to everyone.
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$250 here we come. Resistance is futile. Somebody knows something we don't - that's for sure...  |
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Ok, I'll humour you.
What happens when a Circle customer wants to buy something over the web from a merchant who isn't a Circle user? Maybe they use BitPay, or another service, or they're happy accepting funds in bitcoins. Do they:
1) Send a cheque, and inform the merchant by email (followed by a phone call)
2) Make a SWIFT transfer
3) Bridge the gap in some other way?
You tell me. We are talking about a customer who starts with dollars in hand and a merchant who wants dollars, correct? (Otherwise it is the old fiat-to-bitcoin service that they allready had.) Don't you also think a start-up company (the clue's in the phrase) might anticipate a growth in their chosen sector?
Like BitPay and Coinbase, when they started they certainly expected the fiat-to-bitcoin and bitcoin-to-fiat market to grow "exponentially". Jorge, when a customer starts with dollars in hand (or BTCs) he doesn't care about the internal transfer system. Paypal, for instance could use an electronic transaction system based on email (!) to pay from one customer to another. BTC has a use here because of the low transaction fees and the instant physis of the medium. Again, this is an internal process and nothing more. Each company judges for its best interest what's best for them. How's that affecting bitcoin remains as an exercise to the reader...  BitPay & Coinbase (as with other companies as well) invested in what they thought BTC will be in an horizon more than 5 years IMHO. You don't invest money into a business if you're expecting fast-cash-right-here-right-now. Those people have business plans that may be fruitful after the 2nd even the 3rd year of investment. Remember the first steps of Facebook? Remember Apple in the 2000's ? That's how the story goes. |
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Allowing customers to use bitcoin to send money but holding it in USD (which is what's going on, Jorge - instant conversion at the time of use) and never seeing BTC is very neat. They still pay merchants in BTC, but don't need to worry about holding BTC. I can see that it might be nice for merchants to do the same. That removes a major barrier to adoption. When you use their new service, they will take your USD, pretend to convert it to BTC, but keep the BTC as USD to avoid volatility losses, then pretend to convert the BTC back to USD, and deliver USD to the merchant. That certainly removes the biggest barrier to bitcoin adoption -- which is bitcoin itself. Reading such comments from you really makes me wonder if you're one of NLC's instances. I mean really? How did you figure it out all this? Or do you suggest that's what YOU would do if you were willing to start a company that clearly supports BTC in the first place?  |
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Good morning Bitcoinland.
Been away for a few days and I missed the buying opportunity under $220. Oh well, I'll just have to wait for the next dip.
Nice to see last night's little rise to over $230 again. Will it last this time?
Nobody can say for sure; there's a chance that the bear year is over though. The numbers are turning green one by one, but this could also be orchestrated. If you notice, there's nervous buying in of huge amounts that pops the price 15-20$ up. Let's see when the ETF will be released what's the next rally will look like. |
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Thanks for a great campaign and an excellent service from your side Carra23. Looking forward cooperating with you again. |
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I bought a 3TB Seagate internal HDD drive for 125M GCN (when the price was higher). In four days I had it in my hands (from Ireland to Greece). If you need something off those guys go ahead and take it. There's simply no better service than theirs. |
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