That's cool, I didn't need the $50,000 in bitcoin he fucked me out of anyways.
Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
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Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#22Here's what I don't understand: I specifically requested to be repaid in BTC at the time, you could state this on the claims form. I even opened an account on Kraken for this? So why would I not get the full amount in bitcoin?
Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#23> However, after a strange turn of events, it turned out that creditors of Mt. Gox, or former bitcoin traders on the Mt. Gox exchange, requested an equivalent amount of bitcoin to be paid out in Japanese yen at the beginning of Mt. Gox liquidation proceedings. In simpler terms, creditors requested Karpeles and Mt. Gox to process refunds in Japanese yen rather than bitcoin, which has risen substantially in value since…
I have the form right here in front of me. I requested to be paid in bitcoin.
Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#24Earlier quoted context omitted.
"creditors requested Karpeles and Mt. Gox to process refunds in Japanese yen rather than bitcoin" The people he owed money to asked for it to be this way when proceedings began.
I don't recall having requested Yen at any time. There was a form to be filled out and I clearly stated that I prefer to be paid in Bitcoin. But I guess I am not big enough a fish to have a say there.
Same here. I specifically requested to be paid in bitcoin. I had bitcoins on MtGox and I wanted the bitcoins back from the day they were stolen. They have been found and my claim is accepted. Now give them back.
Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#25He should get nothing until after all his victims are made whole— in bitcoin, not USD.
"creditors requested Karpeles and Mt. Gox to process refunds in Japanese yen rather than bitcoin" The people he owed money to asked for it to be this way when proceedings began.
No I checked the "I/We would prefer to receive distributions in Bitcoin" on their form. I made a claim on bitcoins, I wanted the bitcoins back from day 1 of the theft.
Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#26Earlier quoted context omitted.
"creditors requested Karpeles and Mt. Gox to process refunds in Japanese yen rather than bitcoin" The people he owed money to asked for it to be this way when proceedings began.
I don't recall having requested Yen at any time. There was a form to be filled out and I clearly stated that I prefer to be paid in Bitcoin. But I guess I am not big enough a fish to have a say there.
What do you think the lawyers want to be paid in?
Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#27This seems to be important, from the comments:
>Paul Wasensteiner • an hour ago
>Joseph you need to correct this bullshit instantly. Mtgox creditors DID NOT "requested Karpeles and Mt. Gox to process refunds in Japanese yen rather than bitcoin". This is totally and utterly false! We submitted our claims for what we had on our accounts at the time that Mtgox closed in whatever currency we had (i.e. if our account had bitcoin in it, we submitted a claim for bitcoin), and most of us also requested to be paid out in bitcoin.
>Update this article immediately!
Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#28That's cool, I didn't need the $50,000 in bitcoin he fucked me out of anyways.
TBF when he fucked you out of it it was only worth $700 or so (based on another commenter's claim that it increased 70-fold in the intervening time). Most similarly situated people could have re-upped that amount of bitcoin back then, but if you chose not to, it's not like Karpeles forced that choice on you. IMO, being mad about the $50k current value of bitcoin that you lost is overstating the harm he did you significantly.
Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#29This seems to be important, from the comments: >Paul Wasensteiner • an hour ago >Joseph you need to correct this bullshit instantly. Mtgox creditors DID NOT "requested Karpeles and Mt. Gox to process refunds in Japanese yen rather than bitcoin". This is totally and utterly false! We submitted our claims for what we had on our accounts at the time that Mtgox closed in whatever currency we had (i.e. if our account had…
They’ll be paid in btc however they will not get the same amount. They will get btc equivalent to their btc’s worth in 2013.
The size of their claim is the same.
Btc or usd will only affect the payment method.
Re: Mark Karpeles Will End Up Taking $859M from Mt. Gox Bankruptcy
#30I suspect he may end up using a chunk of that on litigation defense.
I'm sure he's trembling with only $500 Mil (assuming taxes) in his account. Once the bankruptcy court decides, isn't it over for creditors?
Yen vs BTC...maybe the bankruptcy court made that decision? BTC wasn't as popular back than so quite a few may have happy to get back, anything...yen or pesos.