Is it really over?

[bitcoinerik]

Hello,

Yes... Maybe is is my own fault, but I have Bitcoins and cash stored at MtGox.

Is it 100% for sure that I lost all of my money?
I'm getting confused by all the news and threats about MtGox. I refresh mtgox.com 1,000,000 a day, hopefully that it is working again..

Thank you, Erik

[Bitcoinpro]

how much are we talking here ?

[Kluge]

It's not 100% for sure. Gox isn't saying much, so there's very little certainty. I can't imagine any reason not to formally deny widespread charges of insolvency and imminent liquidation (especially by competitors, which seems a bit unprofessional, but I understand why), so at this point, I'd be thinking there's a decent chance of a formal liquidation and haircut, but probably not 100% loss. Might be worth joining a lawsuit to recover funds, even if just to be kept better in the loop.

[Bitcoinpro]

It's not 100% for sure. Gox isn't saying much, so there's very little certainty. I can't imagine any reason not to formally deny widespread charges of insolvency and imminent liquidation (especially by competitors, which seems a bit unprofessional, but I understand why), so at this point, I'd be thinking there's a decent chance of a formal liquidation and haircut, but probably not 100% loss. Might be worth joining a lawsuit to recover funds, even if just to be kept better in the loop.

you want to be careful at this stage trying to pretend to people they might get their money back,

[FelixOliver]

it's stories like this that truly make me sick.. if it's one thing that I hate it's dishonesty

as a community, I feel that we should establish at least some form of basic rules and regulations... that way we could punish pirates like Karpeles and force him to pay reparations to those who lost their money

if we're not able to do that, then there will be a hundred more Mark Karpeles'

[bitcoinerik]

Thanks for your replies.
In my opinion it's not important how much it was, but for me it's a lot of money.
I wanted to withdraw it weeks ago, but MtGox took 10 weeks to verify my account.
I know; I didn't had to use MtGox, but it hurts now. And with me it hurts a lot of other users of this forum I think..

All I can do now is pray. (Or take a plane to MtGox and get my money back :-)

[Bitcoinpro]

Thanks for your replies.
In my opinion it's not important how much it was, but for me it's a lot of money.
I wanted to withdraw it weeks ago, but MtGox took 10 weeks to verify my account.
I know; I didn't had to use MtGox, but it hurts now. And with me it hurts a lot of other users of this forum I think..

All I can do now is pray. (Or take a plane to MtGox and get my money back :-)

use it as a tax break, if the sum is enough see an accountant to see if they can help you with this

[rohnearner]

Thanks for your replies.
In my opinion it's not important how much it was, but for me it's a lot of money.
I wanted to withdraw it weeks ago, but MtGox took 10 weeks to verify my account.
I know; I didn't had to use MtGox, but it hurts now. And with me it hurts a lot of other users of this forum I think..

All I can do now is pray. (Or take a plane to MtGox and get my money back :-)

If you are really thinking about taking a plane to get your money back i'm sure its more then i was expecting ...! but i'm quite skeptical if it will work because there are already few mtgox victim sitting in front of there office without any response from mtgox .. !
The only positive thing i can say is your money is not all gone yet, there is still a slight chance of you getting it back, even if that happens it will be a long process.. they are in a huge mess . Whatever may happen mtgox will surely face some serious legal actions and you may see mark behind the bars if you don't get paid...!

[chaosPT]

I don think gox have the btc to pay

[bitcoinerik]

Taking the plane to MtGox was just kidding ;-)
(I'd love to have a good "conversation" with them...)

[Kluge]

It's not 100% for sure. Gox isn't saying much, so there's very little certainty. I can't imagine any reason not to formally deny widespread charges of insolvency and imminent liquidation (especially by competitors, which seems a bit unprofessional, but I understand why), so at this point, I'd be thinking there's a decent chance of a formal liquidation and haircut, but probably not 100% loss. Might be worth joining a lawsuit to recover funds, even if just to be kept better in the loop.

you want to be careful at this stage trying to pretend to people they might get their money back,

MtGox surely has some assets. Their landlord hasn't kicked them out (... or maybe that's why they moved, heh). Insolvency on Gox's part would obviously include account balances being counted as a liability. It'd be almost impossible to manage to lose everyone's account balances. (I'm unsure of how payout prioritization is handled specifically in Japan, but I'd guess debt-holders come second to client funds they have temporary custody over)

Worse than people having false hope is people having false despair where they do nothing about it. I don't doubt some percentage of funds will be returned to customers, but it could take years with a significant haircut and significant work required. A friend only just had his Full Tilt Poker balance returned yesterday... it was taken in April of 2011.

[Sheldor333]

How much did you have there?
I mean best you can do is join some lawsuit against them. Or wait for the authorities in Japan solve it and collect your btc or cash. That will depend how much is left and how much you had with them.

[bitcoinerik]

It was about 6000 dollars

[bbeesley]

This is a real shame for those who had invested their BTC in what appears to be an insolvent company.  

While lawsuits sound like a great remedy, that the Japanese regulatory authorities essentially said they have no interest in or authority over BTC and Mt. Gox, it seems unlikely that this would be effective.

[T.Stuart]

I had a lot of money tied up - utterly foolish - in Gox, and this is going to set me back.

I've been an idiot. Now I've got to do the best I can and what's right with the rest and focus on what's important.

This morning I've come to terms with the fact that we are not going to see any of our funds.

Also while there may be or might have been discussions to rescue Gox somehow, I now don't expect anyone to do so. Why on Earth should they? It's not the fault of any external actor.

I rode the denial wave like many others. I even tried to turn a profit from this shitty situation and made a very stupid judgement.

There is now absolutely no reason to hope for a rosy outcome. It's time for clarity of thought; time to draw a line - a very low line! - underneath the utter collapse of Mt Gox.

Gox is leaving the arena empty-handed and objectively I don't think this will effect Bitcoin in the long-term: this is in fact great news for the community as a whole.

Good luck!

[Bitcoinpro]

It was about 6000 dollars

http://en.wikipedia.org/wiki/Capital_gains_tax

see if you can deduct it from something see an accountant

[Bitcoinpro]

 gox has technically gone bankrupt claim your losses as the max price attainted on the exchange