The MtGox irony, class action incoming?

[pereira4]

It's pretty funny, if you do the actual calculations, you will see that holders of bitcoin that lost money no MtGox and are still waiting to get their coins back, have lost more money getting their lost MtGox money back (due the trustee dumping big amounts to cover losses) than if they didn't get the money back.

This is incredibly insane. First of all, they should get their BITCOINS back, not damn USD equivalent at the date of the loss. They are basically let some guy to dump the coins for them.

Due the holder's losses due the dumping and the unfair fact that they didn't get the coins back, it's obvious that something is very wrong. Would a class action lawsuit against the trustee and everyone involved in this insanity process prosper? They should look into that.

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[aintnopassincraze]

It is quite egrigous that they don't get their Bitcoins back, and that they only get the USD amount lost. Then I would like to know, who gets all that extra USD? In any case they should be given back their Bitcoin to USD equivalent based on a cost averaging. I also don't understand how they lost more money in this process that makes no sense to me...

[Spazzer]

The thing also is getting Bitcoins back would be so much less paper work compared to having to liquidating the Bitcoins to fiat than paying each person based off backdated prices.

[justin86]

The right calculation must be like that: USD equivalent of btc at the date of the loss + compensation because there is not just a loss of bitcoins, years passed, loss is more than numbers.

[richardsNY]

People should indeed get their coins back, and not the fiat value at the time of loss, but what can we expect realistically? Every exchange will pay back its users based on the terms they think is more suitable for the operation rather than the people. I am fairly sure that if the loss occurred at the time the price was $19,000, they more than likely would refund you just your coins. Nothing can change that because an exchange is paying back either way, so it can't lose legally. In other words, this is the risk you expose yourself to when making use of money hungry centralized services.

[NeuroticFish]

The ones that were smart enough or lucky enough to buy some more Bitcoin at 200$ or less, are still on profit.
So they had their chance. After all, they were people who already knew early enough what Bitcoin is.