Bitcoinica liquidator wants to hear from users

[dancingnancy]

Still no reply, sent out another e-mail yesterday.

Anyone else had any contact?

With who?

[Koekiemonster]

Still no reply, sent out another e-mail yesterday.

Anyone else had any contact?

With who?

The liquidator: Taslim Bhamji.

[dancingnancy]

Still no reply, sent out another e-mail yesterday.

Anyone else had any contact?

With who?

The liquidator: Taslim Bhamji.

The last time we heard from them was a few weeks ago.  Same story.  Gox won't talk to them.  I would spend your time trying to contact Mt Gox (or CEO).  Doesn't sound like you will get anywhere though.  They are too busy upgrading servers or something.

[Koekiemonster]

Still no reply, sent out another e-mail yesterday.

Anyone else had any contact?

With who?

The liquidator: Taslim Bhamji.

The last time we heard from them was a few weeks ago.  Same story.  Gox won't talk to them.  I would spend your time trying to contact Mt Gox (or CEO).  Doesn't sound like you will get anywhere though.  They are too busy upgrading servers or something.

Despite the fact the liquidator is probably waiting for Gox , it doesn't justify the lack of communication with the 'investors'. If they aren't able to communicate with their clients I don't have much faith they will get our money anytime soon and I would prefer to have another (capable) liquidator on this case.

[S3052]

Still no reply, sent out another e-mail yesterday.

Anyone else had any contact?

With who?

The liquidator: Taslim Bhamji.

The last time we heard from them was a few weeks ago.  Same story.  Gox won't talk to them.  I would spend your time trying to contact Mt Gox (or CEO).  Doesn't sound like you will get anywhere though.  They are too busy upgrading servers or something.

Despite the fact the liquidator is probably waiting for Gox , it doesn't justify the lack of communication with the 'investors'. If they aren't able to communicate with their clients I don't have much faith they will get our money anytime soon and I would prefer to have another (capable) liquidator on this case.

+1

[flower1024]

Hello @all,

as far as i know the bitcoinica funds held by MtGox are from an US user (a delaware company).
i have a few questions about that:

 - will the bitcoinica funds (btc and usd?) moved to coinbase?
 - what are coinbase' plans with this money?
 - will they give the funds to our liquidator?
 - what about the law suite in america? will we see any funds from that - or will all of the funds just go to suitors?
 - who pays all the lawyers? (i am willing to pay my liquidator, but not an anonymous lawyer in US - as i really have NOTHING to do with them)
 - if the funds will stay at mtgox (or partly stay there): what are mtgox plans?

i would love to see some statements from Taslim, Roger Ver, Coinbase and MtGox.

regards

[Mushoz]

Has anyone contacted Mark Karpeles AKA "MagicalTux" directly and asked for a statement?

[dancingnancy]

Read this thread.. starts around the second page.

https://bitcointalk.org/index.php?topic=157360.0

He basically says nothing at all and I know he has looked at this thread.  Just more bullshit.  They are happy to sit on the coins and from what the liquidator has stated many times previous to this, Mt. Gox isn't willing to give them the information they need to move forward.

Until I hear differently, I am going to assume that the liquidator isn't bullshitting us.  I can't think of a reason why the liquidator would want to.  There is a reason for Mt. Gox to though.  Think about what all our coins are worth right now?  Who knows how they are using the coins.

I believe, if Mt. Gox wasn't using these coins, this situation probably would have resolved itself already.  If Mt. Gox isn't "using" these coins currently, I would like to see them provide a BTC address as to where all our coins are, or if they are segregated.  Of course, Mt. Gox isn't willing to do shit.  Hopefully this catches up with them.  After I get my coins back, if I ever do, I can promise I will never do another business transaction again with them if they don't resolve this shit soon.  I am sure others feel the same way. 

[disclaimer201]

There really should be more threads about this in more prominent sections of bitcointalk. Fucking thieves.

[dancingnancy]

There really should be more threads about this in more prominent section of bitcointalk. Fucking thieves.

Yeah, no doubt.  This guy sits on the Bitcoin foundation, is happy to represent Bitcoin, but can't be bothered to give us our money back (BTC + USD, or whomever has our USD).  It's getting to the point where I am ready to start a donation for one of us to fly out to Japan for a personal meeting with this douche to move this along.  I got 5 on it..

[trentreznor321]

To All Investors
 
We have received a number of emails from investors recently requesting a progress update on the liquidation.
 
We have received further information from the limited partners which we are currently assessing and we continue to correspond with MT Gox with a view to having the account information released to us.  At this point, MT Gox continues to withhold the information and account access.  We are hopeful that we will not need to issue legal proceedings as this will simply result in further depletion of investor funds.
 
We understand from press releases that MT Gox has entered into an agreement with CoinLab for bitcoin trading in North America.  We have not taken legal advice on this issue, however we do not believe that this arrangement affects the liquidation process. 
 
We have not yet determined the method for the distribution to creditors/investors, as we do not yet know the composition of the frozen accounts (ie the number of bitcoins held and balance of USD funds).  However, it is likely that any distribution will be made in USD.  Once we have the account information, we will notify investors of the process for which the Liquidators intend on distributing funds.  If there are insufficient funds to make payment in full to each investor, then distribution will be made on a pro-rata basis (ie funds are distributed in proportion to each investors claim).
 
We will keep investors abreast with further updates as and when they occur.
 
Kind Regards
Taslim Bhamji
Senior Insolvency Administrator

[realnowhereman]

We have not yet determined the method for the distribution to creditors/investors, as we do not yet know the composition of the frozen accounts (ie the number of bitcoins held and balance of USD funds).  However, it is likely that any distribution will be made in USD.

Personally I'd rather the BTC; but I really hope that the above doesn't mean they're considering paying us in USD at the time of the freeze.

(The above makes it sound like they don't really understand bitcoin).

[labestiol]

However, it is likely that any distribution will be made in USD.  

I guess now I don't feel that bad that MtGox is delaying the process.
As it is likely that this will result in more losses for us, what can we do ? I'm anything but a lawyer, but I don't see on what basis they prefer USD to BTC, this being a liquidation in NZ (except convenience I guess).

Thoughts ?

but I really hope that the above doesn't mean they're considering paying us in USD at the time of the freeze.

No, I don't see them selling BTC at spot price, giving us the equivalent at 5$, and keeping the change. However, any conversion will cost us (well, except if BTC goes down between their sale and the time we can buy some back, but I guess we agree it's not the most likely possibility)

[Transisto]

However, it is likely that any distribution will be made in USD.

I would be willing to bet a lot that 90% of Bitcoinica position were BTC LONG,
This by itself should have meant that the majority of USD retrieved from zhou should have been placed safely back into BTC.

That the liquidator prefer to deal with the 95%+ of the assets based on value is the complete opposite of what creditors want.

What can we do against this ?

[dancingnancy]

I better get all my BTC back...

I think we should all contact the liquidator and tell them they need to negotiate our btc back and distribute the cash, otherwise.  There is no way I am taking taxes on liquidating BTC.

[2GOOD]

I better get all my BTC back...

I think we should all contact the liquidator and tell them they need to negotiate our btc back and distribute the cash, otherwise.  There is no way I am taking taxes on liquidating BTC.

+1

[dancingnancy]

I have already mailed Taslim.  I would hope that others are doing the same.

[Mushoz]

I have already mailed Taslim.  I would hope that others are doing the same.

Mailed him as well, I urge everyone to do the same.

[Koekiemonster]

I have already mailed Taslim.  I would hope that others are doing the same.

Mailed him as well, I urge everyone to do the same.

I did the same thing.

[naima53]

I have already mailed Taslim.  I would hope that others are doing the same.

Mailed him as well, I urge everyone to do the same.

I did the same thing.

Sorry, my English is bad. Could you write a sample? What should I send Taslim?