71–80 of 168 posts
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Bitcoin as had the better part of decade and it's still practically useless in the real world.
Something that can continue to gain value for 10 years has no practical use? Someone had better remove the vast majority of the world GDP which is in financial markets.
Being directly involved in this I'm not going to comment as of the veracity of the article myself, but rather point to a response of when this was posted on twitter (look at the extra responses for some fact checking): https://twitter.com/wizsecurity/status/1355973512012292096
For those who don't know, MagicalTux is Mark Karpeles, owner and CEO of Mt Gox. Assuming this is his real account. And for what it's worth, I agree that this is a bad article based on what I know about the situation. Bloomberg reporting in general is questionable these days if you ask me. I don't trust them since the false Supermicro hack story (never retracted BTW) and I've seen several other bad stories from them s…
So the idea is that Bloomberg, a company owned by a multibillionaire, published a story full of libel, and for some inexplicable reason none of the corporations damaged by that story sued them?
Or maybe ... the story is true, and those mentioned found it embarrassing, so they put out denials to the press and social media that will never have to be scrutinized (say, under testimonial oath in a deposition)?
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Would you prefer 100% of what it was worth then or 23% of what it's worth now?
Why 23%? Seems arbitrary. Is that the amount in BTC that is expected to be paid out to creditors?
The draft document has been made available to creditors but it says not to share with the public. But it does say that BTC and BCH claims will be valued at the BTC/BCH-to-yen conversion rate as of the time of commencement of rehabilitation proceedings (749,318.83 yen/BTC). And the payout will be less than that because the remaining assets will be distributed to creditors in a prorated system (although certain small fiat claims and possibly other claims may have higher priority).
There is definitely not a specific amount of BTC currently that would be paid to creditors per BTC that they held, since it depends on the final total claims (which is mostly finalized but may still change a bit), and presumably on the value of the remaining BTC/BCH assets held by the trustee at the time of distribution.
One creditor made a calculator to compute the payout based on the current exchange rates and such: https://old.reddit.com/r/mtgoxinsolvency/comments/l08ymh/mt_...
Earlier quoted context omitted.
For those who don't know, MagicalTux is Mark Karpeles, owner and CEO of Mt Gox. Assuming this is his real account. And for what it's worth, I agree that this is a bad article based on what I know about the situation. Bloomberg reporting in general is questionable these days if you ask me. I don't trust them since the false Supermicro hack story (never retracted BTW) and I've seen several other bad stories from them s…
> the false Supermicro hack story (never retracted BTW) So the idea is that Bloomberg, a company owned by a multibillionaire, published a story full of libel, and for some inexplicable reason none of the corporations damaged by that story sued them? Or maybe ... the story is true, and those mentioned found it embarrassing, so they put out denials to the press and social media that will never have to be scrutinized (s…
These are publicly traded companies - everything they say is scrutinized.
What's not scrutinized is internal communications and logs, which would be fair game in discovery in event of a lawsuit against a media organization, which are uniquely suited to defend those types of lawsuits.
Earlier quoted context omitted.
Why 23%? Seems arbitrary. Is that the amount in BTC that is expected to be paid out to creditors?
Yes.
Being directly involved in this I'm not going to comment as of the veracity of the article myself, but rather point to a response of when this was posted on twitter (look at the extra responses for some fact checking): https://twitter.com/wizsecurity/status/1355973512012292096
I have no idea if you have plans to make amends for this. Even now, the top of r/MtGoxInsolvency is a post about opening an exchange again to earn money back for the creditors. Do you have any thoughts on how to make things right? https://www.reddit.com/r/mtgoxinsolvency/comments/ldnrxv/reo.... Yes of course I'm a part of the legal proceedings, but those seem to never end, and seem unlikely to bring any significant recompense.
I can't imagine living a life where so many people direct such incredible ill will towards myself, as you live. Especially given that early Bitcoin folks were often disreputable, and the amount of money you cost them, I assume you must have concerns for your own physical safety.
I hope that you'll consider those of us who are still hurt by your negligence by choosing your words and presence carefully.
Earlier quoted context omitted.
For those who don't know, MagicalTux is Mark Karpeles, owner and CEO of Mt Gox. Assuming this is his real account. And for what it's worth, I agree that this is a bad article based on what I know about the situation. Bloomberg reporting in general is questionable these days if you ask me. I don't trust them since the false Supermicro hack story (never retracted BTW) and I've seen several other bad stories from them s…
> the false Supermicro hack story (never retracted BTW) So the idea is that Bloomberg, a company owned by a multibillionaire, published a story full of libel, and for some inexplicable reason none of the corporations damaged by that story sued them? Or maybe ... the story is true, and those mentioned found it embarrassing, so they put out denials to the press and social media that will never have to be scrutinized (s…
Being directly involved in this I'm not going to comment as of the veracity of the article myself, but rather point to a response of when this was posted on twitter (look at the extra responses for some fact checking): https://twitter.com/wizsecurity/status/1355973512012292096
When's the book coming out?
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Low volatility is a pretty important metric for stores of value. By that metric almost anything other than GME shares is better than cryptocurrency: cash in any hard currency, gold, silver, luxury watches, ...
I guess remind me in 10 years and we'll see how returns on crypto compares to 'stocks, hard currency, gold, silver, luxury watches' Funny how all of those things are not supply constrained, so they seem to be at a disadvantage from the start. But we'll see.
You're literally supporting the argument of the person you're replying to without even realizing it.
Disproportionately high returns indicates a highly volatile asset, and it's just as likely to go the other way, resulting in staggering losses.
These are not markers of a good, long-term storage asset class.