Kraken Accepting MtGox Bankruptcy Claims

[Amph]

this is a good news indeed and since i love kraken it's even better for me, i received also an email from them about this

http://bitcoinsource.net/btc-news/

“We see our involvement in this process as an opportunity to restore faith in the community by showing what we need more of in the Bitcoin space – trusted leadership,”


don't know if this is the correct section

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[Slark]

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

[WhatTheGox]

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

They have 200k bitcoins recovered from mtgox & some fiat, people should get back 25% of what they lost in mtgox is my guess.

The trading promo is if you want to trade on kraken afterwards.

[Amph]

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

i think you can claim your lost funds, in sense that you can gain what have you lost , but i don't know about the percentage, they do not talk about it

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

They have 200k bitcoins recovered from mtgox & some fiat, people should get back 25% of what they lost in mtgox is my guess.

The trading promo is if you want to trade on kraken afterwards.

this is an assumption, or you find it in the article? because i can't find such info

the mail i received adds this

"We look forward to helping MtGox creditors with their claims and hope they enjoy our free trade offer. Click the button below to read more about this exciting announcement"

so there is the offers plus the funds claim

[WhatTheGox]

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

i think you can claim your lost funds, in sense that you can gain what have you lost , but i don't know about the percentage, they do not talk about it

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

They have 200k bitcoins recovered from mtgox & some fiat, people should get back 25% of what they lost in mtgox is my guess.

The trading promo is if you want to trade on kraken afterwards.

this is an assumption, or you find it in the article? because i can't find such info

the mail i received adds this

"We look forward to helping MtGox creditors with their claims and hope they enjoy our free trade offer. Click the button below to read more about this exciting announcement"

so there is the offers plus the funds claim

Well we know they have 200k coins from the blockchain data. I guess they could try and scam those from us but why would the kraken CEO ever mention payouts in the first place? why bother with processing claims? - just to promote kraken? This would be a very bad promotion if the idea was to scam us of 200k.  Nothing would surprise me tbh.

Anyone else feel like customers are getting the 200k or what?

[Amph]

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

i think you can claim your lost funds, in sense that you can gain what have you lost , but i don't know about the percentage, they do not talk about it

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

They have 200k bitcoins recovered from mtgox & some fiat, people should get back 25% of what they lost in mtgox is my guess.

The trading promo is if you want to trade on kraken afterwards.

this is an assumption, or you find it in the article? because i can't find such info

the mail i received adds this

"We look forward to helping MtGox creditors with their claims and hope they enjoy our free trade offer. Click the button below to read more about this exciting announcement"

so there is the offers plus the funds claim

Well we know they have 200k coins from the blockchain data. I guess they could try and scam those from us but why would the kraken CEO ever mention payouts in the first place? why bother with processing claims? - just to promote kraken? This would be a very bad promotion if the idea was to scam us of 200k.  Nothing would surprise me tbh.

Anyone else feel like customers are getting the 200k or what?

i don't think they want to scam us, or they might have done it in silence, i think they want to build more volume, hence all the promotions they are offering around this claim

[neoneros]

They are feeling generous, I would if I just got back 200 K in BTC which assumed lost forever. It is a very nice way to promote the service.

[WhatTheGox]

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

i think you can claim your lost funds, in sense that you can gain what have you lost , but i don't know about the percentage, they do not talk about it

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

They have 200k bitcoins recovered from mtgox & some fiat, people should get back 25% of what they lost in mtgox is my guess.

The trading promo is if you want to trade on kraken afterwards.

this is an assumption, or you find it in the article? because i can't find such info

the mail i received adds this

"We look forward to helping MtGox creditors with their claims and hope they enjoy our free trade offer. Click the button below to read more about this exciting announcement"

so there is the offers plus the funds claim

Well we know they have 200k coins from the blockchain data. I guess they could try and scam those from us but why would the kraken CEO ever mention payouts in the first place? why bother with processing claims? - just to promote kraken? This would be a very bad promotion if the idea was to scam us of 200k.  Nothing would surprise me tbh.

Anyone else feel like customers are getting the 200k or what?

i don't think they want to scam us, or they might have done it in silence, i think they want to build more volume, hence all the promotions they are offering around this claim

Yes i think they want to build more volume but if was just about that they could have bought advert space on bitcointalk or some other promotions.  Maybe roger ver had a part to play since he is connected to kraken and has many thousands of coins tied up in gox.  Maybe the kraken CEO just wants to be a legend or do the right thing for once, why not.

[ensurance982]

Okay, so what are the exact terms? Can I claim FIAT deposits? BTC held there? What kind of fee are they're going to retain from my stash? Can't seem to find those information in the mail. Although it sound like a tempting idea!

[bakada]

Okay, so what are the exact terms? Can I claim FIAT deposits? BTC held there? What kind of fee are they're going to retain from my stash? Can't seem to find those information in the mail. Although it sound like a tempting idea!

You can choose Fiat or BTC during the claim process.   Although they mention that there is currently no guarantee that they will be able to pay back in BTC.   Guess they are scoping the interest of how many creditors are willing to accept it.   I didn't see any mention of Kraken "handling" fees.   I suspect they just bathe in the publicity of it all.

[WhatTheGox]

Okay, so what are the exact terms? Can I claim FIAT deposits? BTC held there? What kind of fee are they're going to retain from my stash? Can't seem to find those information in the mail. Although it sound like a tempting idea!

You can choose Fiat or BTC during the claim process.   Although they mention that there is currently no guarantee that they will be able to pay back in BTC.   Guess they are scoping the interest of how many creditors are willing to accept it.   I didn't see any mention of Kraken "handling" fees.   I suspect they just bathe in the publicity of it all.

If you have fiat or BTC it doesnt matter, eveyone will get the same overall % according to the kraken ceo posting on reddit in the last few hours, link:

http://www.reddit.com/user/jespow

[kvb]

I don't seem to grasp where is the catch with the magic number $483? 1 Bitcoin = USD483 = JPY50,058.12. 

MTGOX online bankruptcy claim filing system page:
7. "The amount of my/our bankruptcy claim will be converted into Japanese yen using the exchange rate designated by the bankruptcy trustee (the closing rate of the telegraphic transfer selling rate of the Tokyo Foreign Exchange Market (the rate published by Mitsubishi UFJ Research and Consulting Co., Ltd.) on April 23, 2014, Japan time) and the Bitcoin rate designated by the bankruptcy trustee (CoinDesk Bitcoin Price Index on 23:59 on April 23, 2014 Japan time) (1 Bitcoin = USD483 = JPY50,058.12. This calculation is made using the rate “USD1 = JPY103.64” (the closing rate of the telegraphic transfer selling rate of the Tokyo Foreign Exchange Market (the rate published by Mitsubishi UFJ Research and Consulting Co., Ltd.) on April 23, 2014, Japan time)."
https://claims.mtgox.com/assets/index.html#/signin

I don't get it.. They are betting that the price of BTC will be above $483 at the time of distribution? Because of that they want to lock out this price for users? For example you agree here to take $483 for every btc they should give you. Then on september 2015 after creditors meeting when they decide to distribute, the price of BTC lets say is $1000, so they basically shave you for the difference?

Interested what's your take on this?

[WhatTheGox]

Im not sure any of us have a choice to go with kraken or not do we? kraken have been chosen by the trustee so its either go with them or not see any money at all?

[ensurance982]

Okay, so what are the exact terms? Can I claim FIAT deposits? BTC held there? What kind of fee are they're going to retain from my stash? Can't seem to find those information in the mail. Although it sound like a tempting idea!

You can choose Fiat or BTC during the claim process.   Although they mention that there is currently no guarantee that they will be able to pay back in BTC.   Guess they are scoping the interest of how many creditors are willing to accept it.   I didn't see any mention of Kraken "handling" fees.   I suspect they just bathe in the publicity of it all.

Huh, so it's basically a real win-win situation, especially for small-time customers that otherwise wouldn't even want to jump through all the legal hoops and requirements. I think overall this is a very nice thing to do of Kraken!

[Amph]

I don't seem to grasp where is the catch with the magic number $483? 1 Bitcoin = USD483 = JPY50,058.12. 

MTGOX online bankruptcy claim filing system page:
7. "The amount of my/our bankruptcy claim will be converted into Japanese yen using the exchange rate designated by the bankruptcy trustee (the closing rate of the telegraphic transfer selling rate of the Tokyo Foreign Exchange Market (the rate published by Mitsubishi UFJ Research and Consulting Co., Ltd.) on April 23, 2014, Japan time) and the Bitcoin rate designated by the bankruptcy trustee (CoinDesk Bitcoin Price Index on 23:59 on April 23, 2014 Japan time) (1 Bitcoin = USD483 = JPY50,058.12. This calculation is made using the rate “USD1 = JPY103.64” (the closing rate of the telegraphic transfer selling rate of the Tokyo Foreign Exchange Market (the rate published by Mitsubishi UFJ Research and Consulting Co., Ltd.) on April 23, 2014, Japan time)."
https://claims.mtgox.com/assets/index.html#/signin

I don't get it.. They are betting that the price of BTC will be above $483 at the time of distribution? Because of that they want to lock out this price for users? For example you agree here to take $483 for every btc they should give you. Then on september 2015 after creditors meeting when they decide to distribute, the price of BTC lets say is $1000, so they basically shave you for the difference?

Interested what's your take on this?

it's getting confused too much, they should just pay you in btc, to remove all the price issue that could be created

or maybe that news is simply old and was just copy-pasted

[WhatTheGox]

This part here:

 Creditors claiming funds with Kraken can expect the following benefits:

    100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
    Creditor claim and payout support including live chat and email
    Option to receive funds in the form of bitcoin
    An easier and more convenient process from claim to payout

^ to me that suggest you could actually claim without kraken, im happy to claim with them but would be nice to know.  Also yeah i agree with others, it would be nice to know their cut.

Anyway ive now signed up @ kraken  

Edit: ok i now see you can claim yourself, but i think id rather go with kraken anyway.

[ensurance982]

This part here:

 Creditors claiming funds with Kraken can expect the following benefits:

    100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
    Creditor claim and payout support including live chat and email
    Option to receive funds in the form of bitcoin
    An easier and more convenient process from claim to payout

^ to me that suggest you could actually claim without kraken, im happy to claim with them but would be nice to know.  Also yeah i agree with others, it would be nice to know their cut.

Anyway ive now signed up @ kraken  

Edit: ok i now see you can claim yourself, but i think id rather go with kraken anyway.

I think this may be of help to you: https://www.mtgox.com/img/pdf/201504_notice1_en.pdf
This is straight from Gox's site (yeah, it still exists) and gives you all the details you need to know about claiming yourself or claiming with Kraken. As of now I don't see any downsides to claiming with Kraken, actually - does anyone see any?

[cryptworld]

If I understand correctly that mean people who lost money when MtGox crashed will be able to get their money back? Or it will be only some amenities provided for uses who were customers of MtGox in the past and now are using Kreken. Because they listed something like this:

Creditors claiming funds with Kraken can expect the following benefits:

- 100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
- Creditor claim and payout support with live chat and email
- Option to receive funds in the form of Bitcoin
- An easier and more convenient process from claim to payout

Is that is all?

They have 200k bitcoins recovered from mtgox & some fiat, people should get back 25% of what they lost in mtgox is my guess.

The trading promo is if you want to trade on kraken afterwards.

It is said that mtgox customers will get around 20% of his balance at the moment of the closure, but I can't see a clear statement about the cypher from kraken

[hmblm1245]

Getting anything back is better than nothing. 20% or maybe more depending if there was truth to the wizsec thing. Maybe some of the thieves held a vast majority in the exchange, dought it, but it might be something to look forward too.

[thejaytiesto]

I've been trying to get accepted in Kraken for months now, my credentials never got validated, I got tired of waiting and eventually gave up.
Thank god I never got involved with the Karpeles scam. Good look to the ones cursed by the Gox.