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Author Topic: Anyone who had btc on gox since 2011 could be affected  (Read 5267 times)
Timo Y
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February 28, 2014, 06:00:31 PM
 #41

Not a single costumer made a profit on mtgox. In fact, most made a 0.065% loss on every trade, plus deposit and withdrawal fees.

If you sent $100 and withdrew $1000 that is because your asset increased in market value, not because mtgox paid you out a profit. It would have increased in value independently of mtgox.

The only people who made a profit are the thieves and possibly mtgox themselves.

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March 09, 2014, 02:00:44 AM
 #42

SO, they want me to return my 3k? fine, return my 30 coins Smiley That's the only thing I took from gox.

Yeah, that would be a pretty nice deal.
But they'd likely say that you are required to pay:

Fiat value of the amount of fiat or BTC you withdrew MINUS the fiat value your 30 coins had on the day you deposited them on the Exchange  (or maybe day you traded them to fiat, if the trade is not being rolled back)   MINUS any fiat value that was attributable to the "share" that you get back as MtGox creditor.


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March 09, 2014, 04:59:38 AM
 #43

sweet, then send me back all the btc that i sold/transfered since then...

about 5k btc over that span... im fine with that  Grin
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March 09, 2014, 10:14:55 AM
 #44

I don't think this case is comparable to Madoff because he was running a fund which claimed to make profits for those who deposited money. The people who withdrew from the fund would get more money than they deposited. MtGox never claimed to give profits on the deposited money, and nobody got more money because they had deposited anything to MtGox. The point of an exchange is to give away one form of value and get the same value back in another form.

Requiring depositors to pay back what they have withdrawn would be like if a bank went broke and anyone who had withdrawn money in the last 3 years would be required to pay it back. Most customers would have lots of deposits (from salary) and lots of withdrawals in 3 years, but that doesn't mean they've profited.
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