MTGOX <-> BTC BID/ASK

[boumalo]

Where is the best source of infos about the mtgox investigations except here?

[surfer43]

Where is the best source of infos about the mtgox investigations except here?

reddit.com/r/bitcoin & google most likely

[naRky]

Where is the best source of infos about the mtgox investigations except here?

http://www.reddit.com/r/mtgoxinsolvency

[surfer43]

Where is the best source of infos about the mtgox investigations except here?

http://www.reddit.com/r/mtgoxinsolvency

Nice! 

[boumalo]

Where is the best source of infos about the mtgox investigations except here?

http://www.reddit.com/r/mtgoxinsolvency

thanks

Where is the best source of infos about the mtgox investigations except here?

reddit.com/r/bitcoin & google most likely

i knew these sources already but thanks

[TwinWinNerD]

also reddit.com/r/mtgox and mtxgoxrecovery.com

[Lohoris]

Really now? Breaking the limited liability is really easy outside the US.

What are you talking about?
It sounds insane.
The whole point of limited liability is... that it's limited.
If it's easy to break it, it makes no sense to have it in the first place.

[Mota]

Another one is: Get your finances checked, and if discrepancies are found, report them and stop all activities; as in: don't let people deposit funds 2 weeks after you found out you are bancrupt and tell them all is well.

[Lohoris]

One of those rules is : "Don't steal the customers funds".
Another one is : "When you're down the hole, stop digging".

Another one is: Get your finances checked, and if discrepancies are found, report them and stop all activities; as in: don't let people deposit funds 2 weeks after you found out you are bancrupt and tell them all is well.

Sure, but basically that means "don't break the law", of course you can expect to have consequences for breaking the law.
Which is quite different from saying that you are responsable for a limited liability company.

[surfer43]

What I think is going to happen: gox is somehow going to get the funds, maybe a majority through "finding" bitcoins. Then you will be able to withdraw cash and bitcoin from the website. Am I too optimistic? 

[bigtimespaghetti]

What I think is going to happen: gox is somehow going to get the funds, maybe a majority through "finding" bitcoins. Then you will be able to withdraw cash and bitcoin from the website. Am I too optimistic? 

I think a little... I think we are looking at getting *something* back. I think that the fiat claims may be safer, as to the BTC... We are probably talking single digit percentages of claimed amounts. This is just based on a guess though.

[Mota]

One of those rules is : "Don't steal the customers funds".
Another one is : "When you're down the hole, stop digging".

Another one is: Get your finances checked, and if discrepancies are found, report them and stop all activities; as in: don't let people deposit funds 2 weeks after you found out you are bancrupt and tell them all is well.

Sure, but basically that means "don't break the law", of course you can expect to have consequences for breaking the law.
Which is quite different from saying that you are responsable for a limited liability company.

That is right. But as the CEO of the company he can be held liable because of all the things mentioned here and elsewhere. Those things break more than one law. And that was the whole point to my comment. Of course he can't be held personally liable if he has done nothing wrong.

[TwinWinNerD]

If this whole liquidation is streched out over many years, the return for claims might be in the lower single digits, because for certain regulations, the BTC that were found will need to be liquidated to pay for the costs, this could lead to them being sold at ~400$ level, what a shame..

[Mota]

If this whole liquidation is streched out over many years, the return for claims might be in the lower single digits, because for certain regulations, the BTC that were found will need to be liquidated to pay for the costs, this could lead to them being sold at ~400$ level, what a shame..

Not really. They have several millions in fiat. They have nearly 50% of what they owe in fiat, on the other hand they have only 200k of the 750k btc they owe. I expect them to handle it they way other countries do; so they will probably view bitcoin debt and fiat debt equally. Since they have more fiat in comparison they will most likely pay the costs with fiat and maybe even use some of it to pay of btc creditors.

[TwinWinNerD]

If this whole liquidation is streched out over many years, the return for claims might be in the lower single digits, because for certain regulations, the BTC that were found will need to be liquidated to pay for the costs, this could lead to them being sold at ~400$ level, what a shame..

Not really. They have several millions in fiat. They have nearly 50% of what they owe in fiat, on the other hand they have only 200k of the 750k btc they owe. I expect them to handle it they way other countries do; so they will probably view bitcoin debt and fiat debt equally. Since they have more fiat in comparison they will most likely pay the costs with fiat and maybe even use some of it to pay of btc creditors.

What other county? This is a unique case. Never until now where BTC part of a liquidation process of a LLC. They will most likely be treated like you would treat inventory and claims on that inventory. A liquidation always ends with equal debtors receiving the same cut. There won't be a difference in the % of payout in the BTC and FIAT debtors, if they are treated the same.

So yeah, maybe they will use the fiat money, but there is a high chance that all that gets paid out will be in Fiat, and everyone gets fucked

[Mota]

If this whole liquidation is streched out over many years, the return for claims might be in the lower single digits, because for certain regulations, the BTC that were found will need to be liquidated to pay for the costs, this could lead to them being sold at ~400$ level, what a shame..

Not really. They have several millions in fiat. They have nearly 50% of what they owe in fiat, on the other hand they have only 200k of the 750k btc they owe. I expect them to handle it they way other countries do; so they will probably view bitcoin debt and fiat debt equally. Since they have more fiat in comparison they will most likely pay the costs with fiat and maybe even use some of it to pay of btc creditors.

What other county? This is a unique case. Never until now where BTC part of a liquidation process of a LLC. They will most likely be treated like you would treat inventory and claims on that inventory. A liquidation always ends with equal debtors receiving the same cut. There won't be a difference in the % of payout in the BTC and FIAT debtors, if they are treated the same.

So yeah, maybe they will use the fiat money, but there is a high chance that all that gets paid out will be in Fiat, and everyone gets fucked

I meant how they see bitcoins legal status. They most certainly won't sell the bitcoins, since they are not the property of the company. And my humble self want my property back, not some strange old fiat currency.. what do you even do with that 

[surfer43]

Gox being insolvent could actually be good news!

Japan or U.S. government bails GOX out. They print paper and use it to place a 500,000 BTC market buy order. Our BTC is now worth much much more! 

[TwinWinNerD]

Gox being insolvent could actually be good news!

Japan or U.S. government bails GOX out. They print paper and use it to place a 500,000 BTC market buy order. Our BTC is now worth much much more! 

Haha, we can argue that mtgox is too big to fail, but not too big to jail

[vujackie]

is anyone still selling mtgox coin? I wanna buy couple coins

[TwinWinNerD]

PM me your rate. Have 17.5 BTC on gox