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1  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: April 04, 2018, 04:25:43 PM
In case you missed it:
https://www.reddit.com/r/btc/comments/89o171/im_mark_karpel%C3%A8s_exceo_of_bankrupt_mtgox_ask_me/
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Dear community,

Many of you know or remember me, especially recently since the MtGox bankruptcy has been allegedly linked with Bitcoin price drops in December 2017 to February 2018. Since taking over the most active Bitcoin exchange in 2011, I ran MtGox until filing for civil rehabilitation on February 28th 2014 (which became bankruptcy less than 2 months later) because a large amount of Bitcoins went missing. Since then, four years have passed, and MtGox is still in bankruptcy today. Iíve been arrested, released under bail after a little less than one year, and am now trying to assist MtGox getting into civil rehabilitation.

I did my best trying to grow the ecosystem by running the biggest exchange at the time. It had big problems but still managed to hang in there. For a while. A quite long while, even, while the rest of the ecosystem caught up. At the end of the day, the methods I chose to try to get MtGox out of its trouble ended up being insufficient, insufficiently executed, or plain wrong.

I know I didn't handle the last, stressful days of the outdrawn and painful Gox collapse very well. I can only be humble about that in hindsight. Once again, Iím sorry.

Japanese bankruptcy law has a particularly nasty outcome here, and I want to address this up front. As creditors claims were registered, those claims were registered in the valuation of Japanese Yen on the bankruptcy date. That's the only way Japanese bankruptcy law can work (most bankruptcy laws around the world operate this way for that matter). This means that the claims can be paid back in full, and there will still be over 160,000 bitcoin and bitcoin cash in assets in the Gox estate. The way bankruptcy law works is that if there are any assets remaining after the creditors have been paid in full, then those assets are distributed to shareholders as part of the liquidation.

That's the only way any bankruptcy law can reasonably work. And yet, in this case, it produces an egregiously distasteful outcome in that the shareholders of MtGox would walk away with the value of over 160,000 bitcoin as a result of what happened.

I don't want this. I don't want this billion dollars. From day one I never expected to receive anything from this bankruptcy. The fact that today this is a possibility is an aberration and I believe it is my responsibility to make sure it doesnít happen. One of the ways to do this would be civil rehabilitation, and as it seems most creditors agree with this, I am doing my best to help make it happen. I do not want to become instantly rich. I do not ask for forgiveness. I just want to see this end as soon as possible with everyone receiving their share of what they had on MtGox so everyone, myself included, can get some closure.

Iím an engineer at heart. I want to build things. I like seeing what I build being useful, and people being happy using what I build. My drive, from day one, has been to push the limits of what is technically possible, and this is the main reason I liked and have been involved with Bitcoin in the first place. When I took over MtGox, I never imagined things would end this way and I am forever sorry for everything thatís taken place and all the effect it had on everyone involved.

Hopefully, I can make what Iíve learned in this experience useful to the community as a whole, so there can at least be something positive in the end.

Ask me anything you like.
2  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: March 10, 2018, 08:52:47 AM
According to this guy here, we're done dumping.
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Matt Odell@matt_odell
4/ Site setup for tracking the remaining 162k bitcoin under Mt Gox trustee's control: http://gaelb.alwaysdata.net/MTgox_watch_CW/index.html

Now that he has successfully sold enough bitcoin & bitcoin cash to cover the ~$414M owed to claimants, he is probably done selling. No coins have moved since Feb 5th.
https://twitter.com/matt_odell/status/972193512849584129


3  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: March 09, 2018, 07:57:46 AM
I have my doubts, but just posting here for the sake of argument. Let's hope he's correct.
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Yuji Nakamura

Verified account
 
@ynakamura56
 7h7 hours ago
More
People are way off on Gox trustee:
1) He dumped just enough to cover ALL jpy liabilities
2) Confirmed Gox could exit bankruptcy (civil rehab)
3) Has very passive track record

Now that his ass (liabilities) covered, he will just wait for court ruling on civil rehab. No more dumps

3 replies 12 retweets 23 likes
Reply 3   Retweet 12   /quote]

https://twitter.com/ynakamura56/status/971911070691422209

4  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: March 08, 2018, 01:58:48 PM
Are the paybacks to be made only in JPY now? At the time I made my claim, I specified BTC. I made the Kracken account, etc.

Yes, that's what the plan is. Meanwhile, guys this is not over... Undecided
https://www.zerohedge.com/news/2018-03-07/bitcoins-tokyo-whale-sells-400m-bitcoin-bitcoin-cash
5  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: March 07, 2018, 08:33:46 PM
Hold ma beer... Grin
6  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: March 07, 2018, 04:00:33 PM
The Trustee has sold 35,841 BTC and 34,008 BCH, claims he did it to "secure a certain amount of money for distribution".
http://www.mtgox.com/img/pdf/20180307_report.pdf

Not bad securing the funds for the "as promised" reparations; regardless, I wonder what happened to the other dozen of forks... (BTG, BTX, BTD... here's a list: https://bitcoinforks.io/)
Granted, some of them are scams, and / or low volume, or even peanuts now... but I would want my share if they don't mind, just in case BTC goes to 100K.  Cool

IMO pretty poor performance by the Trustee. He sold BTC at an average of ~10 k$, while median price between December and February is about 13 k$.
He also shouldn't have sold so much, because the approved fiat claims were only ~42 million $. He sold enough to cover all approved claims, fiat and BTC ones.
That's because the MtGox estate is still operating under bankruptcy rules, and all approved claims are in JPY.
About the forks, so far he has only secured the BCH, but no other forks, and missed all airdrops.

It's not right to attribute malice to his deeds, but as far as it concerns me, I'd prefer my coins' private keys (since they can now cover everyone's coins). The previous decision of fiat reparations should be altered. I didn't have many coins held in there, but this is a bad joke for people with lot of coins trapped. So, I agree. Pretty poor performance so far.
7  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: March 07, 2018, 12:51:33 PM
The Trustee has sold 35,841 BTC and 34,008 BCH, claims he did it to "secure a certain amount of money for distribution".
http://www.mtgox.com/img/pdf/20180307_report.pdf

Not bad securing the funds for the "as promised" reparations; regardless, I wonder what happened to the other dozen of forks... (BTG, BTX, BTD... here's a list: https://bitcoinforks.io/)
Granted, some of them are scams, and / or low volume, or even peanuts now... but I would want my share if they don't mind, just in case BTC goes to 100K.  Cool
8  Alternate cryptocurrencies / Announcements (Altcoins) / Re: Harrisburg University Backed THOUGHT ICO Launches Whitelist on: February 28, 2018, 08:14:54 AM
The whitepaper seems VERY interesting. I also like the novel idea of sidechains for ML and a main computational one for the processing. My main concern is the scaling factor... In any case this is very well designed as a concept and I want to congratulate you guys. Looking forward testing the API & SDK. Good luck!
9  Economy / Exchanges / Re: [ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH on: February 24, 2018, 02:37:10 PM
@the OP:

Is there any information about the airdrops on EOS chain? Should we move the ERC20 out of Kraken so that we're eligible for the new tokens or the exchange will do it for us?
Thanks in advance for your answer.

Hi macsga. If we don't make an announcement about a certain fork or airdrop, it's safe to assume that you should hold your coins in an address that you own the private keys to in order to take full advantage of that fork or airdrop. Thanks for reaching out!

Thanks for your prompt reply. I personally don't want to move the coins from your Exchange due to the complexity of the task, (MEW, plugins, etc) so I thought it was a safe to assume that a similar policy (as with Lumens) would take place. Anyway. If you have anything new on the matter, please let us know. I'm sure I'm not the only one with the problem.

Thanks again.
10  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 22, 2018, 07:30:38 AM
It's number of outputs what is most relevant here. During the past few months many users, exchanges, etc started to consolidate addresses and batch transactions. That consolidation process plus the numerous forks we experienced that required to move coins before claiming made for an abnormal higher number of tx's which added to the already congested situation.

Now, after that consolidation seems to have been stabilized, more tx batching adopted, segwit increasing adoption, , no more forks to claim, etc... it is completely normal we reach the benefits of an uncongested network.

And of course, the increasing adoption of Segwit allows for more "space" available even for non-segwit tx', as expected.

We don't even need to take into account if spam was or wasn't a significant factor to see the "optimizations" in usage could perfectly explain the improvement.

Fully agree on the above, https://outputs.today/ signifies that both are down simultaneously (or at least the trend presents them as such). Nevertheless, the ratio between those two is rising (I'm a bit confused on why this is happening). It would be nice if any of you wizards here had a site to monitor LN / SW tx/outputs (even partially right)...
11  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 22, 2018, 07:21:14 AM
What are your thoughts on this metric:  https://outputs.today

Nice site man, thanks. It verifies with the bitinfo chart; I think it's legit. Well, IMO, it's reasonable after the rally the TX to go down, maybe it's a nice indicator price-wise as well. Watch your longs out there.
12  Economy / Exchanges / Re: [ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH on: February 22, 2018, 07:00:39 AM
@the OP:

Is there any information about the airdrops on EOS chain? Should we move the ERC20 out of Kraken so that we're eligible for the new tokens or the exchange will do it for us?
Thanks in advance for your answer.
13  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 22, 2018, 06:55:18 AM
Could it be because of the LN testing?

Not likely. This is probably due to Segwit starting to be rolled out more and more.

LN is still a giant experiment at the moment, and I can't really recommend getting involved with it right now, unless you are into masochism.

We'll see how much of a difference LN starts to make once they hit 0.6 (0.5.2 right now)

We have less tx per day comparing to the previous weeks. *Maybe* that's a good explanation after all.
https://bitinfocharts.com/comparison/transactions-btc-ltc-eth.html
14  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 22, 2018, 06:46:56 AM
Would you mind elaborating? I don't think I get it... above 1M block?

There's less that two full blocks of blockchain data waiting to be processed in mempool, at the time being. 20 minutes will clear out any queued transactions on the blockchain.

OK thanks for the explanation; I think that this is awesome (but makes no sense)! Could it be because of the LN testing?
15  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 22, 2018, 06:34:19 AM
Price-wise, (yes, this thread IS about that too, apart from trolling) bumping up from 10200$ (Finex) makes me feel bullish again. If we break down from that then it's going 9xxx. Maybe BTC has a chance for glory after all. Right now only XMR hodlers are happy, everybody else is bleeding...

bob@bitcorn:~/bitcoin-0.16.0rc3/src$ ./bitcoin-cli -datadir=/mnt/md0/bitcoin_data getmempoolinfo
{
  "size": 2251,
  "bytes": 1178878,
  "usage": 3950928,
  "maxmempool": 300000000,
  "mempoolminfee": 0.00001000,
  "minrelaytxfee": 0.00001000
}


Amazing. Haven't seen it this low in a long long time.

Hate to be Debby Downer here at all but the question has to be asked, does that empty mempool then also mean less pressure from traffic/volume of Bitcoin use.

I honestly don't know how to answer that. All I do know is I'm happy to see the spamming has stopped, transaction fees are the lowest they have been in a long time, and transactions are clearing quite quickly - compared to the insanity of Dec/Jan.

Would you mind elaborating? I don't think I get it... above 1M block?
Ah ok, you edited the above. Yes, now makes sense.
16  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: February 20, 2018, 10:05:03 PM
So is there any chance to get back your money/BTC?

Can't login anymore at mtgox.com

Wait another ~15 days, the next creditor meeting should clarify if civil rehabilitation gets approved or not (bankruptcy goes on).
The outcome may be known sooner, check the reddit mtgoxinsolvency in ~10 days.
https://www.reddit.com/r/mtgoxinsolvency/

Word on the rumour mill had it that Karpeles asked to get back the business since at the price of 4.5K each (or somewhere near that) Gox was solvent again. Plus, he keeps all the fork coins (!) and releases the rest to the users. I don't know if that was possible in the first place since he was convicted in Japan, but if it's like that then he's a rich SOB already... Undecided
17  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 15, 2018, 06:25:52 AM
Apart from my objection on testing this on mainnet (see my previous posts), I am truly amazed from the resemblance... Man, this is amazing!!!

Lightning Network Map:


Our Solar System:


More here: https://twitter.com/ArminVanBitcoin/status/963827348222218253
18  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 13, 2018, 09:49:32 PM
There's already people losing bitcoins from using it too early. This is one of the first losses.

https://twitter.com/rusty_twit/status/953043039701819392

Dood! That is EXACTLY what I was talking about before. Development 101! Test first, then TEST SOME MORE, then pay somebody to hack it for you (if necessary) and THEN release it...  Undecided
19  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 13, 2018, 09:39:19 PM

It's already being used on the mainnet, although the developers advise against it, and are angry their work has been adapted to work on mainnet.

https://www.coindesk.com/bitcoins-lightning-network-problem-people-already-using/

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Fake money is boring.

At least, that's the contention of many micropayment enthusiasts, whose impatience for the Lightning Network has led to an influx of real bitcoin being transacted over the network, even though developers caution people against doing so since it's still in the testing phase.

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And they're not the only ones Ė Blockstream launched a Lightning-only merchandise store using its own Lightning implementation, c-lightning, and a Lightning main net explorer suggests more than $33,000 in bitcoin has been transacted via Lightning Networks.

LOL! I didn't know that, thanks for the input. TBH, I'm wary on any "addition" that goes live on mainnet without thorough testing. I've paid a great amount for Tx-ing some of my coins and I know the urge of these guys though. But still... damn... Undecided
20  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 13, 2018, 09:23:35 PM
Is this real? How do I use it? Or what is a good resource to explain how to use it?

https://99bitcoins.com/what-is-the-bitcoin-lightning-network-a-beginners-explanation/


This is a good beginning methinks.

Understand what it is and how it works (in theory). I'm wondering how do I physically utilize those nodes in that picture to my advantage right now?

I believe it can be done via scripting only for now, and ONLY on testnet. The ability of fast "direct" transactions and minimum fees is something everybody wants and fast. AFAIK, (haven't been following this to be honest) there's no release date yet. But, from an article I've read the LN needs to be thoroughly tested prior release (any different input is greatly appreciated). At these prices the problem of having a bug and release it out in the open is not recommended...

PS: Yes, I'm back... (kinda)  Grin

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