Beef Supreme (OP)
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Activity: 140
Merit: 100
Put your trust in MATH.
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April 29, 2014, 04:04:08 AM |
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Sweet news! Apparently Karpeles relinquished Gox to the courts, and now, as a result of U.S. litigation, it looks like Sunlot will be buying Gox from the Japanese court representative and giving 16.5% of the interest to Goxxed customers. This is good for Bitcoin! http://www.savegox.com/press/Gox_Creditor_Settlement_Press_Release.pdf...and good for me too cause I got ~10 BTC and about 1000 bucks tied up! |
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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ar9
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April 29, 2014, 04:06:11 AM |
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Just don't see how it's feasible or possible to make customers whole without Bitcoin value shooting up to unimaginable value.
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Beef Supreme (OP)
Full Member
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Activity: 140
Merit: 100
Put your trust in MATH.
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April 29, 2014, 04:11:31 AM |
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Just don't see how it's feasible or possible to make customers whole without Bitcoin value shooting up to unimaginable value.
The majority of the customers prolly didn't have much BTC/fiat in there. Won't take much to make 90% happy. |
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durrrr
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April 29, 2014, 04:11:40 AM |
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i dont get what whole means. does this mean if i had 10 bitcoins im getting 1.65 btc back? this would be some good knows for those goxxed but idk dont see it happening from a business stand point
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Beef Supreme (OP)
Full Member
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Activity: 140
Merit: 100
Put your trust in MATH.
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April 29, 2014, 04:14:41 AM |
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i dont get what whole means. does this mean if i had 10 bitcoins im getting 1.65 btc back? this would be some good knows for those goxxed but idk dont see it happening from a business stand point
It means you get what you are supposed to have, I think. Instead of 'hole' in your wallet, you wallet is 'whole.' |
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MykelSilver
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April 29, 2014, 04:43:42 AM |
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It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
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freedombit
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April 29, 2014, 04:47:07 AM |
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Sweet news! Apparently Karpeles relinquished Gox to the courts, and now, as a result of U.S. litigation, it looks like Sunlot will be buying Gox from the Japanese court representative and giving 16.5% of the interest to Goxxed customers. This is good for Bitcoin! http://www.savegox.com/press/Gox_Creditor_Settlement_Press_Release.pdf...and good for me too cause I got ~10 BTC and about 1000 bucks tied up! This press release by Sun Lot looks to be an attempts to get a ball rolling that may or may not be in everyone's best interest. It looks like several key people from MtGox are agreeing to this, but I am not sure this holds water as the administrator in Japan will dictate where the assets go. I wish anyone luck in bringing about recovery of as many coins as possible, but be more clear on your plans. The use of the phrase "make customers whole" seems overstated in this case. Will Sunlot really return 100% of Bitcoin and FIAT deposits back to the depositors? |
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ar9
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April 29, 2014, 04:57:06 AM |
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Just don't see how it's feasible or possible to make customers whole without Bitcoin value shooting up to unimaginable value.
The majority of the customers prolly didn't have much BTC/fiat in there. Won't take much to make 90% happy. This would be legally reprehensible. 0% chance that 90% of the users are made whole and the top 10% are not. 0%. |
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Bit_Happy
Legendary
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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April 29, 2014, 05:05:32 AM |
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Gox is alive?
Are there any other sources to verify this, or currently just the one .pdf?
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skooter
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Activity: 70
Merit: 10
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April 29, 2014, 05:17:09 AM |
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It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
Well that's what matters. Nobody really cares about ppl from 3rd world countries. |
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Cryptogirl82
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April 29, 2014, 06:09:26 AM |
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It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
Well that's what matters. Nobody really cares about ppl from 3rd world countries. If you compare Switzerland, that is where I come from, to Canada and USA. Then I can proudly say Canada and USA are 3rd world countries. So put a sock in it! |
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Bit_Happy
Legendary
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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April 29, 2014, 06:23:37 AM |
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It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
Well that's what matters. Nobody really cares about ppl from 3rd world countries. If you compare Switzerland, that is where I come from, to Canada and USA. Then I can proudly say Canada and USA are 3rd world countries. So put a sock in it! Switzerland is beautiful.  Also really good at staying out of wars. |
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Cryptogirl82
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April 29, 2014, 06:25:02 AM |
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It only compensates people from US / Canada.
The majority of the MtGox customers were foreigners (including me).
These foreign customers are not included in this Class Action
Well that's what matters. Nobody really cares about ppl from 3rd world countries. If you compare Switzerland, that is where I come from, to Canada and USA. Then I can proudly say Canada and USA are 3rd world countries. So put a sock in it! Switzerland is beautiful. Also really good at staying out of wars. Thats right, make love not war! Thanks to USA we are on the verge of starting WW3! |
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wtogami
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April 29, 2014, 06:37:47 AM |
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Capitalized by $10 million (3.6% of stolen assets) in MtGox cash held in trust by Nobuaki Kobayashi, the administrator appointed by
the Tokyo District Court, the fund would conduct forensic investigations and pursue prosecution of perpetrators. There is no mention of Sunlot risking any of its own money in this deal. They are taking 83.5% equity in the new company in exchange for $10M of the creditors money, at no risk to itself? How is this an appropriate deal for the creditors? |
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btbrae
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April 29, 2014, 06:39:14 AM |
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So compensate US/Canada customers only, from funds that rightly belong to everybody else as well. Way to restore trust. That smells like a steaming pile of crap to me.
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DeathAndTaxes
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Activity: 1218
Merit: 1079
Gerald Davis
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April 29, 2014, 06:41:24 AM |
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Is the OP confused as to what the term "make customers whole" means?
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Nagle
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Activity: 1204
Merit: 1000
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April 29, 2014, 06:51:15 AM |
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Is the OP confused as to what the term "make customers whole" means? Either confused, or deceptive. |
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MykelSilver
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April 29, 2014, 04:18:36 PM |
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If you compare Switzerland, that is where I come from, to Canada and USA. Then I can proudly say Canada and USA are 3rd world countries.
So put a sock in it!
Yes, I'm from The Netherlands. Also not really a 3rd world country... My question: "Are you still gonna take steps in retrieving cash/coins?" If yes, I'm very interested what is possible for us? A while ago I have called the number mentioned in https://www.mtgox.com/img/pdf/20140424_announce_qa_en.pdfThey asked me to be patience and follow the announcements on the mtgox site. At this moment they have not any additional news for foreign people. Thanks in advance |
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CompNsci
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April 29, 2014, 04:45:59 PM |
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There is no mention of Sunlot risking any of its own money in this deal. They are taking 83.5% equity in the new company in exchange for $10M of the creditors money, at no risk to itself? How is this an appropriate deal for the creditors?
It is an absolutely terrible deal for the creditors. I have no idea why any serious person with experience in finance would think this would work or be accepted by the administrator or the courts. It is a joke. |
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btcusury
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April 29, 2014, 06:38:17 PM |
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There is no mention of Sunlot risking any of its own money in this deal. They are taking 83.5% equity in the new company in exchange for $10M of the creditors money, at no risk to itself? How is this an appropriate deal for the creditors?
It is an absolutely terrible deal for the creditors. I have no idea why any serious person with experience in finance would think this would work or be accepted by the administrator or the courts. It is a joke. It's an appropriate deal for the creditors because the only alternative is liquidation. I have yet to read a valid reason why the Sunlot proposal is a bad (i.e. worse than liquidation) deal for the creditors. But please enlighten me. Maybe you're looking at it strictly in terms of numbers and with no faith in Sunlot's ability to recreate Gox. For people who lost more than a few bitcoins, Sunlot's plan is obviously much better than liquidation. And it seems to me that the same is true for Bitcoin, because with liquidation it would be up to the crypto-inexperienced Tokyo police to uncover the truth behind the missing 650,000 BTC. |
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