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1  Economy / Speculation / MtGox Trustee Halts Bitcoin Sell-Offs on: June 22, 2018, 03:05:59 PM
Defunct Bitcoin exchange Mt. Gox has formally entered civil rehabilitation proceedings, officials announced June 22.

A statement and accompanying documentation confirm the move, which will see attorney Nobuaki Kobayashi act as civil rehabilitation trustee.

Kobayashi was responsible for selling vast tranches of Bitcoin reserves beginning Q4 last year to reimburse Mt. Gox users who lost money in the exchange’s mass hack in late 2013. The sell-offs appeared to have a conspicuous effect on markets, Bitcoin prices tumbling immediately following each transaction, which Kobayashi performed on major exchanges.

“The power and authority to administer and dispose of MTGOX’s assets is still vested exclusively in me, and I will implement the civil rehabilitation proceedings, including the administration of MTGOX’s assets and the investigation of claims, subject to the Tokyo District Court’s supervision,” Kobayashi wrote in the new documentation.

However, due to the bankruptcy proceedings now being halted as part of the civil rehabilitation, Kobayashi will not sell any further bitcoins, with users set to receive compensation in BTC instead of fiat currency as originally intended.

“...In the civil 2 rehabilitation proceedings in this matter, claims seeking a refund of Bitcoins (“Bitcoin Claims”) will also not be converted into monetary claims after the commencement of the civil rehabilitation proceedings,” Kobayashi continues.

Reacting to the news, a group of claimants who had established Mt. Gox Creditors lobby group out of dissatisfaction with progress considered it a mixed blessing.

“...Enormous assets, which were to be distributed to Mt. Gox’s shareholders under the bankruptcy proceedings, will be returned to creditors of Mt.Gox in civil rehabilitation proceedings. This is the creditors’ victory,” a statement from the group reads.

“...However, this victory has not been realized yet. The victory will come to creditors when Mt. Gox makes payment to creditors and creditors actually receive such payment.”

Mt. Gox became infamous in the crypto industry after suffering a hack, followed by a collapse in 2014, resulting in the loss of $473 million worth of customers’ money - the single largest loss of funds in the history of crypto until this year’s $534 million Coincheck hack.

This news I believe will at least douse the sell-off tension in the market and probably cure the MtGox fever. This is what I expected should have been done anyway, right from the onset.

Do you think this should somehow bring about some recovery in the market, or do you think it would have no impact? From what I can see though, I want to assume the downtrend in the market is far beyond the MtGox sell-off which was just more like what added fuel to it, but the downtrend was rather imminent from the manipulated FOMO activity that happened last year. What are your thoughts on this?
2  Economy / Gambling discussion / Gambling Addiction Stories! on: May 30, 2018, 10:00:39 AM
Just curious to read some addict or former addict stories and probably some of us like me will be glad to see how things actually did roll in for them during this period and I believe some other persons tending towards that path can also learn from it. Also, if you have a friend or relative you can speak for, it would be appreciated.

Personally, this is what I would like to know though.

1. How did you find yourself ending up to become an addict? What instigated it to the point that you just found yourself not being able to control the impulse any longer? What was the feeling like and during those period of being an addict, did you know and were you willing to pop out of it?

2. What were the steps you took or the steps you are taking to get out from it, and on the scale of 1 to 10, how can you rate how you are doing now?

3. For those who are out of it, do you still gamble or still wish you could? In the case where you are still gambling, how do you want to make sure what happened initially does not end up repeating itself.

4. Any other thing you feel you can add is welcome.
3  Bitcoin / Bitcoin Technical Support / Transaction Issue. How is this possible? on: December 21, 2017, 11:19:52 AM
Not sure where to post this though, but I am sure the mods will help out if it is the wrong place. And I am new to this and also tried some google search but did not get any pleasing answer.

I tried withdrawing some good amount of bitcoin from my freebitco.in wallet which is not the first time anyway, and it has been over 2 days now but it has not been confirmed. However, this transaction has been added to a block for over 24 hours and still not confirmed. Usually, I know the mempool may be full, and from the little knowledge I have garnered, once your transaction has been added to a block, it should at least get confirmed.

Right now though, this seems to be otherwise and may be there is a point I am missing here, but is it that this transaction is purposely being skipped by miners or it is just something that is normal which can happen even when your transaction has been added in a block?

Here is the transaction hash; https://blockchain.info/tx/36da0189deeef9c1722be6ec587ff756b0560e69bfe68448b986c760fd6acf85

Pardon my ignorance if the question sounds stupid to you, but the blockchain technology is not something you can get to know everything about it over night.
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