MtGox withdrawal delays [Gathering]

[iikun]

No idea about if you can change your original payout method but because of the huge numbers of claims I doubt they will want to have to ask & readjust it all again.

There is no original payout method, it was just a survey.

All payouts are going to be in Yen unless they decide they will allow payouts in Bitcoin, they stated that if they do allow payouts in Bitcoin people will be asked again for their preference.

Here's a screenshot from the original claim form showing exactly what it said :

oops, my bad above then.

[1714227390]

1714227390

[1714227390]

1714227390

[1714227390]

1714227390

[rcocchiararo]

how many meetings do these guys need?

On September 27, 2017, the ninth creditor’s meeting was held.
The tenth creditor’s meeting will be held at Tokyo District Courtroom for Creditors’ Meeting No.1 (5F, joint government building for the domestic, summary and district courts) at 13:30 on March 7, 2018.

[iikun]

how many meetings do these guys need?

On September 27, 2017, the ninth creditor’s meeting was held.
The tenth creditor’s meeting will be held at Tokyo District Courtroom for Creditors’ Meeting No.1 (5F, joint government building for the domestic, summary and district courts) at 13:30 on March 7, 2018.

until that d!ck peter venesses ceases his frivolous lawsuit they will keep having meetings about nothing. As someone who works here, Japan can't get enough of pointless meetings where nothing happens and nothing is ever decided. I'm sure Kobayashi is no different.

[bitcoinvest]

can you give me info from companies - people that are buying claims ?

anybody??

[Imerman2]

can you give me info from companies - people that are buying claims ?

anybody??

BitcoinBuilder does if you have an account with them.  You could talk to their Owner and try and work something out if it is large amount I would assume.  He answers e-mails at support@bitcoinbuilder.com and his name is Josh Jones.  He'll probably tell you no if you don't already hold your Gox BTC there but you asked for anybody. 

[samson]

There is more news about the legal action group which is open to anybody with a Bitcoin claim against MtGox.

A bunch of over 400 people joined a group on google groups over the last month or two.

Terms have now been agreed with a large law firm in Japan (4th largest I believe) who are willing to fight for our fair share on our behalf.

To fund this legal action the total is just $30,000 plus 2% of any excess claims over and above the default + interest.

If we do nothing then we will only get about $480 per coin, we stand to gain much more if this legal action is successful.

People can join the group directly : https://www.mtgoxlegal.com

The Google discussion group which led to this legal action (460 members right now) : https://groups.google.com/forum/#!forum/mtgox-creditors

There's also plenty of discussion in this subreddit : https://www.reddit.com/r/mtgoxinsolvency/

Now is the time to act or nothing will happen. If you don't have your own legal representation there is a chance you will end up with $480 per coin, there's always a chance that this group will force the trustee to completely change the way he does things which would mean everyone will benefit.

If you have a claim for more than say 20 Bitcoin I believe it's worth joining this group.

My claim is for 145 Bitcoins so I'm in and will do whatever is needed to help reach the right outcome of this massive fuck up.

I have also heard of other people launching actions which require approval of a majority of claimholders, I believe this means 51% of claims in Bitcoin or thereabouts so this is one way that things like this can be blocked together to form a powerful creditors committee (a first for Japan) and having representation will make it easy for us to be part of this block of people from what I understand.

If you have a Bitcoin claim there is no reason not to join either the above group or one of the others which are around.

[samson]

I will add to the above post that if you haven't joined the legal action group which is funding itself as I write this then the time to act is now.

We don't know what the situation will be once the initial funding is completed but 'hope' to be able to continue to add new members once the funds are raised. Of course this may not be possible.

[iikun]

I will add to the above post that if you haven't joined the legal action group which is funding itself as I write this then the time to act is now.

We don't know what the situation will be once the initial funding is completed but 'hope' to be able to continue to add new members once the funds are raised. Of course this may not be possible.

Nice idea but it's just not worth it for a large number of creditors, 85 pounds would be a large portion of what many people are looking at getting back. Don't take it as an attack against you, but why should I pay the same fees as you when you stand to get back almost 100x what I will.

What Japanese law is this case being based on by the way?

[samson]

I will add to the above post that if you haven't joined the legal action group which is funding itself as I write this then the time to act is now.

We don't know what the situation will be once the initial funding is completed but 'hope' to be able to continue to add new members once the funds are raised. Of course this may not be possible.

Nice idea but it's just not worth it for a large number of creditors, 85 pounds would be a large portion of what many people are looking at getting back. Don't take it as an attack against you, but why should I pay the same fees as you when you stand to get back almost 100x what I will.

What Japanese law is this case being based on by the way?

The legal details are being left to the lawyers. From what I understand some of the things the trustee has done are optional and up to him and the lawyer we're speaking to was surprised at the announcements made at the recent meeting in Japan. The idea is to change the route that is being taken. I'm not a lawyer.

If you want to know more, go to the google group and read the discussions there.

My claim is for about 145 Bitcoin and there are 1000's of people with larger claims than me.

With this claim I consider doing something to be much better than doing nothing, even if it fails - it only costs about $100 so it's worth a shot.

[K-Money]

Aside from bitcointalk,  does this topic have a forum/chatroom on slack,  telegraph etc ?

Tknx in advance

Sidenote; I'd really be happy with I get my lost btc back, hopefully in its entirety.

[el_rlee]

Aside from bitcointalk,  does this topic have a forum/chatroom on slack,  telegraph etc ?

Tknx in advance

Sidenote; I'd really be happy with I get my lost btc back, hopefully in its entirety.

I guess there is little you can do beyond registering your claim at kraken

[samson]

There is a forum on www.mtgoxlegal.com - at the moment it's open to contributors only.

I believe it's going to be at least partially opened up to everyone sometime next week

[bitjoin]

I've taken a couple month break since the mtgox meeting from looking at anything mtgox.  I guess the aim of the legal group is to get bitcoin paid out as bitcoin? or is it to just make sure all surplus goes to the creditors?

[samson]

I've taken a couple month break since the mtgox meeting from looking at anything mtgox.  I guess the aim of the legal group is to get bitcoin paid out as bitcoin? or is it to just make sure all surplus goes to the creditors?

The most important thing is to try and get our fair share of what they're calling 'the surplus'.

The lawyers will be reporting back to the group on Tuesday, 7th November after doing a couple of weeks research on the case.

We would also like payment in Bitcoin but that's a minor point compared to giving all that money to Mark Karpeles instead of the claimants.

Right now they plan on paying us $480 / 50,000 JPY per Bitcoin claimed based on the Bitcoin price in 2014.

[K-Money]

I've taken a couple month break since the mtgox meeting from looking at anything mtgox.  I guess the aim of the legal group is to get bitcoin paid out as bitcoin? or is it to just make sure all surplus goes to the creditors?

The most important thing is to try and get our fair share of what they're calling 'the surplus'.

The lawyers will be reporting back to the group on Tuesday, 7th November after doing a couple of weeks research on the case.

We would also like payment in Bitcoin but that's a minor point compared to giving all that money to Mark Karpeles instead of the claimants.

Right now they plan on paying us $480 / 50,000 JPY per Bitcoin claimed based on the Bitcoin price in 2014.

Now I understand they're not doing this for free,but to give us 480 each seems very unfair .  Mathematically, can everyone who had a valid and approved claim recieve lost btc ,coin for coin and dollar for dollar? Are there enough ? The surplus, does that include bitcoin cash ,bitcoin gold as well as the difference in price from 2014 to present day ,all 3 ? 

I understand the lawyers want to get paid like the rest of us but to "bend us over " this is like mtgox 2.0

Once we figure out the lawyers fees and such ,they should be paid by the claimants ( us ) plus some of our btc cash (10%) as a sign of good faith . I just hope this gets resolved and claimants get their BTC and fiat back,  respectively .

[samson]

I've taken a couple month break since the mtgox meeting from looking at anything mtgox.  I guess the aim of the legal group is to get bitcoin paid out as bitcoin? or is it to just make sure all surplus goes to the creditors?

The most important thing is to try and get our fair share of what they're calling 'the surplus'.

The lawyers will be reporting back to the group on Tuesday, 7th November after doing a couple of weeks research on the case.

We would also like payment in Bitcoin but that's a minor point compared to giving all that money to Mark Karpeles instead of the claimants.

Right now they plan on paying us $480 / 50,000 JPY per Bitcoin claimed based on the Bitcoin price in 2014.

Now I understand they're not doing this for free,but to give us 480 each seems very unfair .  Mathematically, can everyone who had a valid and approved claim recieve lost btc ,coin for coin and dollar for dollar? Are there enough ? The surplus, does that include bitcoin cash ,bitcoin gold as well as the difference in price from 2014 to present day ,all 3 ? 

I understand the lawyers want to get paid like the rest of us but to "bend us over " this is like mtgox 2.0

Once we figure out the lawyers fees and such ,they should be paid by the claimants ( us ) plus some of our btc cash (10%) as a sign of good faith . I just hope this gets resolved and claimants get their BTC and fiat back,  respectively .

It is MtGox 2, all initial claims were valued at about $500 Million, the Bitcoin alone are currently worth $1,500 Million, and that's before you add in other things like BCH.

So there is a court in Japan which is planning on giving the surplus to the MtGox shareholders.

Yes, that's right : The Japanese Govenrment is planning to give Mark Karpeles, the guy who is responsible for this whole mess the vast majority of $1 Billion as confirmed at the Septemeber creditors meeting and they don't seem to give a fuck about what we think.

This is why the mtgoxlegal.com group has hired lawyers as we intend to change this bullshit.

[mayax]

I've taken a couple month break since the mtgox meeting from looking at anything mtgox.  I guess the aim of the legal group is to get bitcoin paid out as bitcoin? or is it to just make sure all surplus goes to the creditors?

The most important thing is to try and get our fair share of what they're calling 'the surplus'.

The lawyers will be reporting back to the group on Tuesday, 7th November after doing a couple of weeks research on the case.

We would also like payment in Bitcoin but that's a minor point compared to giving all that money to Mark Karpeles instead of the claimants.

Right now they plan on paying us $480 / 50,000 JPY per Bitcoin claimed based on the Bitcoin price in 2014.

Now I understand they're not doing this for free,but to give us 480 each seems very unfair .  Mathematically, can everyone who had a valid and approved claim recieve lost btc ,coin for coin and dollar for dollar? Are there enough ? The surplus, does that include bitcoin cash ,bitcoin gold as well as the difference in price from 2014 to present day ,all 3 ?  

I understand the lawyers want to get paid like the rest of us but to "bend us over " this is like mtgox 2.0

Once we figure out the lawyers fees and such ,they should be paid by the claimants ( us ) plus some of our btc cash (10%) as a sign of good faith . I just hope this gets resolved and claimants get their BTC and fiat back,  respectively .

It is MtGox 2, all initial claims were valued at about $500 Million, the Bitcoin alone are currently worth $1,500 Million, and that's before you add in other things like BCH.

So there is a court in Japan which is planning on giving the surplus to the MtGox shareholders.

Yes, that's right : The Japanese Govenrment is planning to give Mark Karpeles, the guy who is responsible for this whole mess the vast majority of $1 Billion as confirmed at the Septemeber creditors meeting and they don't seem to give a fuck about what we think.

This is why the mtgoxlegal.com group has hired lawyers as we intend to change this bullshit.

when you use an unlicensed exchanger you should take all these risks. so, chill and walk away with your loss.  

are you not a libertarian who do not trust the gov/justice and so on? why are you looking for their help now?

[bitjoin]

I've taken a couple month break since the mtgox meeting from looking at anything mtgox.  I guess the aim of the legal group is to get bitcoin paid out as bitcoin? or is it to just make sure all surplus goes to the creditors?

The most important thing is to try and get our fair share of what they're calling 'the surplus'.

The lawyers will be reporting back to the group on Tuesday, 7th November after doing a couple of weeks research on the case.

We would also like payment in Bitcoin but that's a minor point compared to giving all that money to Mark Karpeles instead of the claimants.

Right now they plan on paying us $480 / 50,000 JPY per Bitcoin claimed based on the Bitcoin price in 2014.

Yeah we'd defo all be better off with the surplus going our way vs karpeles. I knew he was up to something fishy with his reddit activity. I will be looking to get involved in the group in the coming weeks. Thanks for update.

[samson]

when you use an unlicensed exchanger you should take all these risks. so, chill and walk away with your loss.  

are you not a libertarian who do not trust the gov/justice and so on? why are you looking for their help now?

No, I'm not a libertarian.

We're taking this to court and will use everything we can to prevent Mark Karpeles from getting his hands on our money.

Libertarian  

[erk]

Paul Wasensteiner, a Mt. Gox creditor, told CCN that creditors were not made aware that their claims were limited to a maximum value of $480 and that the bankruptcy would settle the proceedings based on the price of bitcoin three years ago. Creditors have expressed their concerns over the process of the Mt. Gox bankruptcy, and the possibility that Karpeles, who is directly responsible for the loss of $7 billion in funds, might take away $859 million from the $1.3 billion that has been recovered.

https://www.cryptocoinsnews.com/mark-karpeles-will-end-taking-859-million-mt-gox-bankruptcy/


Gee, you would think the $859million could be returned to the people who are owed it, not Karpeles.