MtGox withdrawal delays [Gathering]

[cesmak]

I have a friend who has lost his Gox password. Is there a way to reset the password so he can check his balance anf file the claim?

If i remeber well Mr. Kobayashi in the documentation released today tell something about this, tell your friend to download all new docs from mtgox site and read instructions....

I need to help him. I read but can't find anything other than he can send an offline claim in the mail.

Ok, i haven't read in deep that part, having my credentials perfectly working...

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[dancingnancy]

Does anyone know about the bitcoinica credit holders and what role the NZ lawyers are going to play in getting our funds?

[SkyValeey]

They'll refund 100% of fiat and 100% of btcs? Or just part? And when?

[macsga]

They'll refund 100% of fiat and 100% of btcs? Or just part? And when?

You can rule this possibility out. The MtGox worked on fractional reserve (that means from the 800,000 allegedly "existing" btcs only 200,000 were found). Also the fiat will be used to pay for other things as well (ie: legal process, investigators etc). I estimate only 1/4 to 1/5 of my original BTC reserve back and you should do the same; if it's more then it's good for us... if not, we don't get (too much) frustration.

[WhatTheGox]

They'll refund 100% of fiat and 100% of btcs? Or just part? And when?

The best thing you can do is read through this user on reddit (the kraken CEO) http://www.reddit.com/user/jespow

He states 2 months for putting in claims, another 2 months after for payments. You will see 20% of money back at most.

[bakada]

Has anyone seen/heard about the status of Kobayashi making Tibanne bankrupt as well for their debt to Gox?

[pinky]

Has anyone seen/heard about the status of Kobayashi making Tibanne bankrupt as well for their debt to Gox?

Check mtgox, it's all published. In short, yes. All companies of Mark are going to get into bankrupcy soon, because he has't paid any money back.

[ImI]

what if i lost my password? i'm screwed right? there is no recover button there

same here

i guess that means -> offline procedure

[SkyValeey]

They'll refund 100% of fiat and 100% of btcs? Or just part? And when?

You can rule this possibility out. The MtGox worked on fractional reserve (that means from the 800,000 allegedly "existing" btcs only 200,000 were found). Also the fiat will be used to pay for other things as well (ie: legal process, investigators etc). I estimate only 1/4 to 1/5 of my original BTC reserve back and you should do the same; if it's more then it's good for us... if not, we don't get (too much) frustration.

Thank you. Ps. I haven't traded at gox so I didn't lose anything.

[CompNsci]

You can rule this possibility out. The MtGox worked on fractional reserve (that means from the 800,000 allegedly "existing" btcs only 200,000 were found). Also the fiat will be used to pay for other things as well (ie: legal process, investigators etc). I estimate only 1/4 to 1/5 of my original BTC reserve back and you should do the same; if it's more then it's good for us... if not, we don't get (too much) frustration.

The other factor to bear in mind is that a large number of potential creditors may not file a claim due to the legal ramifications of claiming those Mt. Gox accounts. Claims can also be disputed, and certainly MK's claim(s) will be. One estimate from a friend who has dealt with the accounts of a lot of the gambling sites is that roughly 50% of the accounts probably lie fallow.

[bakada]

Has anyone seen/heard about the status of Kobayashi making Tibanne bankrupt as well for their debt to Gox?

Check mtgox, it's all published. In short, yes. All companies of Mark are going to get into bankrupcy soon, because he has't paid any money back.

Ya thanks, just noticed in the creditors meeting posting he mentions it.    Looks like they may even do later payouts if additional funds are ever recovered in future.

[macsga]

You can rule this possibility out. The MtGox worked on fractional reserve (that means from the 800,000 allegedly "existing" btcs only 200,000 were found). Also the fiat will be used to pay for other things as well (ie: legal process, investigators etc). I estimate only 1/4 to 1/5 of my original BTC reserve back and you should do the same; if it's more then it's good for us... if not, we don't get (too much) frustration.

The other factor to bear in mind is that a large number of potential creditors may not file a claim due to the legal ramifications of claiming those Mt. Gox accounts. Claims can also be disputed, and certainly MK's claim(s) will be. One estimate from a friend who has dealt with the accounts of a lot of the gambling sites is that roughly 50% of the accounts probably lie fallow.

I expect this to be true. I also expect a lot of people won't bother filing a claim at all. The reasons might be:

1. Lack of interest because of low balance (accounts with < 1 BTC balance)
2. Lost credentials (study states that 3 out of 10 won't remember what their login AND pass was after 1 year)
3. Ghost accounts (ie: accounts that were used only for pump n dump purposes; internally-or-externally of MtGox)

In any case I expect a great change in charts. Kraken will get a significant position among the current exchanges. They maybe even lead the next big rally prior to the 2016 halving. I bet they'll have the ability to do it and (marketing-wise) they surely proved they're after it. Interesting times folks. Best of luck to us all.

[WhatTheGox]

Has anyone seen/heard about the status of Kobayashi making Tibanne bankrupt as well for their debt to Gox?

Check mtgox, it's all published. In short, yes. All companies of Mark are going to get into bankrupcy soon, because he has't paid any money back.

Yeah yet MK is always seeming to claim hes doing everything he can on twitter etc whilst renting out 5 figure per month appartments, what a piece of work.

[Diabolicus]

What's in the Gox? What's in the Gox?

I have a feeling that "technically the coins are not lost just yet", and that they will be returned to customers "soonish" (as soon as Midas starts trading and we see LTC on Gox!) 

*getsanotherfrappuccinowhilewaiting*


Anyone expecting to see more than 10% of his goxcoins balance back is high on Hopium.

[alani123]

I remember Mark coming out as relieved on Reddit when people were calling him a hero after the revelations. Feds supposedly had some involvement into Mt. Gox's story but still, so many questions go unanswered.

And after all this time and adventures, bankruptcy proceedings finally to be coming forward. People are asked to fill bankruptcy claims and are given about a month's time to do so. I'm starting to think that this is part of the plan. A month's time is not that little to fill in some information online, but after everyone considered Mt. Gox a closed file that has reached a dead end I think that it would be appropriate to give people more time to catch up with the events.

[Stapleddiet]

I'm hoping there was about 80% drug BTC/$ involved and the rest of us can carry on where we left of sort of.

[grbox2001]

Is anyone else have problems creating a new account on Kraken? I tried a few times but it always says invalid state/province when I initially make a new account.

[macsga]

Is anyone else have problems creating a new account on Kraken? I tried a few times but it always says invalid state/province when I initially make a new account.

Look for tech support here: https://bitcointalk.org/index.php?topic=290799.0
Ask for Dargo or Yunus. They're very helpful and polite chaps.

Cheers.

[Dargo]

Is anyone else have problems creating a new account on Kraken? I tried a few times but it always says invalid state/province when I initially make a new account.

Look for tech support here: https://bitcointalk.org/index.php?topic=290799.0
Ask for Dargo or Yunus. They're very helpful and polite chaps.

Cheers.

Thanks macsga - yes, Yunus and I are available on bitcointalk if you need help. You can also make a support request at https://support.kraken.com. Our support staff are also very helpful and polite (though not all of them are chaps). 

[Dargo]

Is anyone else have problems creating a new account on Kraken? I tried a few times but it always says invalid state/province when I initially make a new account.

Try this workaround: On the Sign Up page, click "Advanced Options" and select your country (+state if in the US) and timezone. The other options (Master Key and PGP Key) are optional. Enter your username, email, password and check the box agreeing to the terms. Then click the "Sign Up" button. That should work.