This is verbatim from "The Associated Press" regarding Mt. Gox. "An administrator will try to sell the Company's assets and many creditors, including those that had Bitcoins with the exchange, are unlikely to get any money back." The 200k coins are assets of the Company, whether or not they have names attached to them. If the customers do not get any BTC/money back in the Bankruptcy proceeding, that suggests that there are a ton of creditors that are legally standing in line ahead of them. For this reason, I can only assume that the Japanese Bankruptcy Court will be forced to liquidate the 200k BTC in some way. Until I saw this article, I was under the impression that there would be enough Company assets to, at least, get some value back to customers. I doubt that creditors, that are lucky enough to get anything, will want their portions returned in anything but fiat. Let me just note that I am a BTC enthusiast on every level and I own my coins at an average price of approx. $495. Put another way, I'm on your side! I am just trying to present facts and interpret them the best way I can. The facts are the facts but my interpretation of them may be dead wrong. If so, help me better understand this dilemma . I'm still very new to BTC but I do know, with certainty, that it has survived a lot of of tough hits. In my mind, that means that BTC is here to stay and strong enough to dust off the inevitable and final impact of the Mt. Gox mess. All we can do, at this point, is wait and see what happens and hope that the Bankruptcy "administrator" educates him/herself on the BTC Market and spreads sales over an extended time. That approach would get creditors their maximum return and mitigate damage to the BTC community. Best regards. Jr65
Come to the wrong place if you are seeking reasoned insight about the final blow from the MtGox case......but I suspect that you are much cannier than you are trying to make out and you are already well aware that you are likely to be hit with nothing but partisan spraff about how MtGox is already priced in, nothing bad will happen to Bitcoin price, liquidators wouldn't be so stupid as to sell all the BTC all at once and drive the price down, etc etc.
You just want to drop your message and get the goons chewing over it and the realities it implies as they desperately try to twist it into a 'Totally harmless' or even a '2 da moon' flavour more to their liking, with perhaps a few of the more complis mentis posters realising that this cannot be contorted into anything other than a negative conclusion.
