On mtgox delay damages

[dserrano5]

I can't find any thread about this.

Background: I'm among the unfortunate people without access to the original email address used to sign up to mtgox, so I had to use the offline method. Recently I received an email from the trustee saying that I didn't use the correct conversion rate blah blah.

So I'm filling in an amendment and playing with the document a little, but the following caught my attention:



If the delay damages are 6% "per annum" (more or less equivalent to "per year", I assume) and almost 1.5 years have passed since 2014-02-26, how come the automatically calculated damages are less than 1%? I'd expect them to be more like 10%, ie. nearly 1M JPY in this example.

Does anyone have a plausible explanation for this?

[1715146291]

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[dserrano5]

Does anyone have a plausible explanation for this?

Bump. I'm not the first person across the globe to notice this, right?

[kork]

Background: I'm among the unfortunate people without access to the original email address used to sign up to mtgox, so I had to use the offline method. Recently I received an email from the trustee saying that I didn't use the correct conversion rate blah blah.

Unrelated to your question: I received that same mail.

Code:

However, the amount of claim is not converted into JPY, using the exchange rate
determined by the bankruptcy trustee in the portion(s) surrounded by red square(s)
in the attached PDF file of the Application for Amendment of Proof of Bankruptcy Claim.

I'm feeling a bit lost here. I was under the impression that the PDF was supposed to automatically calculate the correct values. In fact, when entering my values into the amendment PDF, I'm getting the exact same numbers I originally sent to Japan.

Not sure what to do now.

[dserrano5]

I'm feeling a bit lost here. I was under the impression that the PDF was supposed to automatically calculate the correct values. In fact, when entering my values into the amendment PDF, I'm getting the exact same numbers I originally sent to Japan.

My theory is that balances as provided by mtgox have 5 decimal digits and if you use them like that in the PDF, they aren't correctly rounded. Eg. entering 0.00999 USD yields 0 JPY while it should give 1. So, do the rounding to 2 decimals by yourself, and enter only those 2 decimals in the PDF. That's what I'm going to try at least.

[kork]

My theory is that balances as provided by mtgox have 5 decimal digits and if you use them like that in the PDF, they aren't correctly rounded. Eg. entering 0.00999 USD yields 0 JPY while it should give 1. So, do the rounding to 2 decimals by yourself, and enter only those 2 decimals in the PDF. That's what I'm going to try at least.

Hm, interesting. I will try that as well. (Actually, I was thinking about not bothering with the USD amount, as it's only $ 1.93709 )
There should not have been a rounding error in my BTC value, as I actually had x.00000000 BTC on MtGox.

[dserrano5]

There should not have been a rounding error in my BTC value, as I actually had x.00000000 BTC on MtGox.

The PDF maintains the 8 decimal places, so there's no rounding error there. Rounding crap only happens with fiats, where mtgox gives you 5 places and the PDF trims to 2.

Re: delay damages, ok, I'm the first one to see that in the world. Maybe the trustee is able to tell me something.

[kork]

FWIW: I just received another mail from the trustee.

Code:

The following e-mail was sent by our mistake and it is not required to correct your Proof of Bankruptcy Claim and Statement.
Therefore, please disregard the following e-mail.  Sorry for any inconvenience caused.

Well, that's a relief.

Curious if they will answer to your inquiry.

[dserrano5]

FWIW: I just received another mail from the trustee.

Code:

The following e-mail was sent by our mistake and it is not required to correct your Proof of Bankruptcy Claim and Statement.
Therefore, please disregard the following e-mail.  Sorry for any inconvenience caused.

Well, that's a relief.

So did I, but I already sent the amendment. Bah.

[jslim18]

Here is another update on the story
http://airkayu.com/home/mtgox-ceo-arrested-after-bitcoins-disappear