Topic: Bitcoinica liquidator wants to hear from users - page 14. (Read 64418 times)

+1

I better get all my BTC back...

I think we should all contact the liquidator and tell them they need to negotiate our btc back and distribute the cash, otherwise.  There is no way I am taking taxes on liquidating BTC.

I would be willing to bet a lot that 90% of Bitcoinica position were BTC LONG,
This by itself should have meant that the majority of USD retrieved from zhou should have been placed safely back into BTC.

That the liquidator prefer to deal with the 95%+ of the assets based on value is the complete opposite of what creditors want.

What can we do against this ?

I guess now I don't feel that bad that MtGox is delaying the process.
As it is likely that this will result in more losses for us, what can we do ? I'm anything but a lawyer, but I don't see on what basis they prefer USD to BTC, this being a liquidation in NZ (except convenience I guess).

Thoughts ?


No, I don't see them selling BTC at spot price, giving us the equivalent at 5$, and keeping the change. However, any conversion will cost us (well, except if BTC goes down between their sale and the time we can buy some back, but I guess we agree it's not the most likely possibility)

Personally I'd rather the BTC; but I really hope that the above doesn't mean they're considering paying us in USD at the time of the freeze.

(The above makes it sound like they don't really understand bitcoin).

To All Investors
 
We have received a number of emails from investors recently requesting a progress update on the liquidation.
 
We have received further information from the limited partners which we are currently assessing and we continue to correspond with MT Gox with a view to having the account information released to us.  At this point, MT Gox continues to withhold the information and account access.  We are hopeful that we will not need to issue legal proceedings as this will simply result in further depletion of investor funds.
 
We understand from press releases that MT Gox has entered into an agreement with CoinLab for bitcoin trading in North America.  We have not taken legal advice on this issue, however we do not believe that this arrangement affects the liquidation process. 
 
We have not yet determined the method for the distribution to creditors/investors, as we do not yet know the composition of the frozen accounts (ie the number of bitcoins held and balance of USD funds).  However, it is likely that any distribution will be made in USD.  Once we have the account information, we will notify investors of the process for which the Liquidators intend on distributing funds.  If there are insufficient funds to make payment in full to each investor, then distribution will be made on a pro-rata basis (ie funds are distributed in proportion to each investors claim).
 
We will keep investors abreast with further updates as and when they occur.
 
Kind Regards
Taslim Bhamji
Senior Insolvency Administrator

Yeah, no doubt.  This guy sits on the Bitcoin foundation, is happy to represent Bitcoin, but can't be bothered to give us our money back (BTC + USD, or whomever has our USD).  It's getting to the point where I am ready to start a donation for one of us to fly out to Japan for a personal meeting with this douche to move this along.  I got 5 on it..

There really should be more threads about this in more prominent sections of bitcointalk. Fucking thieves.

Read this thread.. starts around the second page.

https://bitcointalksearch.org/topic/mtgox-support-increase-157360

He basically says nothing at all and I know he has looked at this thread.  Just more bullshit.  They are happy to sit on the coins and from what the liquidator has stated many times previous to this, Mt. Gox isn't willing to give them the information they need to move forward.

Until I hear differently, I am going to assume that the liquidator isn't bullshitting us.  I can't think of a reason why the liquidator would want to.  There is a reason for Mt. Gox to though.  Think about what all our coins are worth right now?  Who knows how they are using the coins.

I believe, if Mt. Gox wasn't using these coins, this situation probably would have resolved itself already.  If Mt. Gox isn't "using" these coins currently, I would like to see them provide a BTC address as to where all our coins are, or if they are segregated.  Of course, Mt. Gox isn't willing to do shit.  Hopefully this catches up with them.  After I get my coins back, if I ever do, I can promise I will never do another business transaction again with them if they don't resolve this shit soon.  I am sure others feel the same way. 

Has anyone contacted Mark Karpeles AKA "MagicalTux" directly and asked for a statement?

Hello @all,

as far as i know the bitcoinica funds held by MtGox are from an US user (a delaware company).
i have a few questions about that:

 - will the bitcoinica funds (btc and usd?) moved to coinbase?
 - what are coinbase' plans with this money?
 - will they give the funds to our liquidator?
 - what about the law suite in america? will we see any funds from that - or will all of the funds just go to suitors?
 - who pays all the lawyers? (i am willing to pay my liquidator, but not an anonymous lawyer in US - as i really have NOTHING to do with them)
 - if the funds will stay at mtgox (or partly stay there): what are mtgox plans?

i would love to see some statements from Taslim, Roger Ver, Coinbase and MtGox.

regards

+1

Despite the fact the liquidator is probably waiting for Gox , it doesn't justify the lack of communication with the 'investors'. If they aren't able to communicate with their clients I don't have much faith they will get our money anytime soon and I would prefer to have another (capable) liquidator on this case.

The last time we heard from them was a few weeks ago.  Same story.  Gox won't talk to them.  I would spend your time trying to contact Mt Gox (or CEO).  Doesn't sound like you will get anywhere though.  They are too busy upgrading servers or something.

The liquidator: Taslim Bhamji.

With who?

Still no reply, sent out another e-mail yesterday.

Anyone else had any contact?

Umm.. yeah - that is most likely exactly what they are doing.  Can't say a god damned word about it either publicly.  Loaning out BTC is a pretty lucrative business right now.

Since hardly anyone has the ability to sue Gox, the only thing left to do is to write Gox and attack their reputation. The issue of them holding our funds hostage doesn't seem to really bother anyone enough to make a fuzz about it. Perhaps we should start asking a little louder?

Let me see if I have this correct. The liquidated funds are now worth more now than when they were first stored at Mt. Gox, and the the owner of Mt. Gox is a member of TBF.

The funds were stored at Mt. Gox in good faith, yet...

From this day forward, I demand from Mt. Gox prove that these funds have not been touched.

Is there any way an audit can be done in regard to this situation? I'm not versed in how this can be accomplished, but I'm sure others here have an idea.

The way I'm looking at it is that if all the funds were released today, everybody would get back about what they lost, and maybe more.

We have no proof that Mt. Gox is not using said funds, so until that proof is given, I'm going on record and stating that they are floating (or whatever the proper term is) the funds for their everyday operation.

Please forgive me, all and MG, for I don't have the red-ass toward them, but I am sticking it up their ass on this one issue alone.

~Bruno K~