Bitcoinica liquidator wants to hear from users - page 7.

dancingnancy

hero member

Activity: 661

Merit: 500

Quote from: disclaimer201 on February 20, 2014, 01:40:30 PM

Do you really think we of all people in line will see any of our coins back from Gox?! It's obvious Gox doesn't even have the coins anymore to handle regular business / withdrawals. Sorry to ruin the hope once again, but I just don't believe in fairy tales.

Shouldn't we be like in the front of the queue because this shit has been going on for about 2 years now?

disclaimer201

legendary

Activity: 1526

Merit: 1001

Do you really think we of all people in line will see any of our coins back from Gox?! It's obvious Gox doesn't even have the coins anymore to handle regular business / withdrawals. Sorry to ruin the hope once again, but I just don't believe in fairy tales.

dancingnancy

hero member

Activity: 661

Merit: 500

Quote from: ?? on ??

Quote from: dancingnancy on February 20, 2014, 01:12:22 PM

SoOoOoOoOoOo.. are we ever going to see our money and coins?

Doesn't this lawyer have a fiduciary responsibility or something to make this happen before gox disappears into the japanese night?

oh, we got a new firm working on it... they might sue gox.. they are working with the liquidators...

iv been busy, forgot to post.

Was there an announcement from the liquidator stating this or where are you getting this info? thx

dancingnancy

hero member

Activity: 661

Merit: 500

SoOoOoOoOoOo.. are we ever going to see our money and coins?

Doesn't this lawyer have a fiduciary responsibility or something to make this happen before gox disappears into the japanese night?

dancingnancy

hero member

Activity: 661

Merit: 500

Quote from: ?? on ??

Quote from: dancingnancy on January 24, 2014, 11:41:58 AM

Try sending a message to coindesk. I did, I think someone else did as well. Perhaps they will start to roll with it.

Otherwise, it looks like we are waiting till PKF decides to use up all available cash to start to pursue gox.

I'm not so sure that will happen. If Gox keeps telling them to fuck off PKF might come back to us saying well, we tried but ran out of money. Too bad so sad...

Get paid $100,000 to do close to absolutely nothing and be able to wash your hands clean when done. Should have went to law school instead.

dancingnancy

hero member

Activity: 661

Merit: 500

Try sending a message to coindesk. I did, I think someone else did as well. Perhaps they will start to roll with it.

Otherwise, it looks like we are waiting till PKF decides to use up all available cash to start to pursue gox.

nrd525

legendary

Activity: 1868

Merit: 1023

I don't know if this number is available in the liquidator reports. They convert btc into US dollars and then lump them in with owed USD.

The liquidator says MtGox has 64,000 BTC. But it doesn't say how that compares to claimed BTC. Presumably it is less.

dancingnancy

hero member

Activity: 661

Merit: 500

Quote from: osmosis on January 23, 2014, 03:22:05 PM

Do we know how many bitcoins are in the $1.5 million outstanding claim? It would be interesting to know this number in relation to how many bitcoins mtgox is holding for mtgox customers. If we could get organized around this and come up with a plan, perhaps we could bypass the liquidation company all together since they are very obviously only trying to screw us all. Thank god mtgox hasn't released the funds to them.

If you go back to the statement I think it is like 60k BTC or something wild like that.

osmosis

sr. member

Activity: 300

Merit: 250

Do we know how many bitcoins are in the $1.5 million outstanding claim? It would be interesting to know this number in relation to how many bitcoins mtgox is holding for mtgox customers. If we could get organized around this and come up with a plan, perhaps we could bypass the liquidation company all together since they are very obviously only trying to screw us all. Thank god mtgox hasn't released the funds to them.

dancingnancy

hero member

Activity: 661

Merit: 500

Quote from: coinrevo on January 23, 2014, 06:06:41 AM

MtGox is withholding 51M$ in funds?? is this money from private people or corporations? how does this not impact mtgox "reputation"? brilliant.

Quote

As Max Keiser stressed on a recently televised Keiser Report, “I support Zhou Tong — he could be a worthy adversary for Jamie Dimon or Lloyd Blankfein

Quote

Q: What have you learned during the brief life of Bitcoinica?

a. Customer service is important.

http://coinabul.tumblr.com/post/24022841613/10qs-zhou-tong-bitcoinica

Affect its reputation? I would say that Mt Cox withholding money is par for the course.

But yes, they are essentially sitting on all our money, for our "privacy." Still have not figured out what that means yet, especially when we have the actual liquidators backing.

My guess is that PKF is not really doing their part, and they are happy to keep eating at money until the $100,000 well runs dry. After that, they will decide to actually pursue Mt Cox, instead of just writing love letters. Which, by the way, should have probably happened already 1 year ago.

coinrevo

member

Activity: 70

Merit: 10

MtGox is withholding 51M$ in funds?? is this money from private people or corporations? how does this not impact mtgox "reputation"? brilliant.

Quote

As Max Keiser stressed on a recently televised Keiser Report, “I support Zhou Tong — he could be a worthy adversary for Jamie Dimon or Lloyd Blankfein

Quote

Q: What have you learned during the brief life of Bitcoinica?

a. Customer service is important.

http://coinabul.tumblr.com/post/24022841613/10qs-zhou-tong-bitcoinica

dancingnancy

hero member

Activity: 661

Merit: 500

Nice.

nrd525

legendary

Activity: 1868

Merit: 1023

I started a petition:

http://www.ipetitions.com/petition/mtgox-return-the-bitcoinica-funds-to-the

nrd525

legendary

Activity: 1868

Merit: 1023

I emailed Coindesk. Another interesting tidbit is that the owners of Bitcoinica could be rewarded with $40-$50 million for incompetence and driving the company into liquidation (if they recover all the money, but only pay out $9/BTC).

dancingnancy

hero member

Activity: 661

Merit: 500

Quote from: ?? on ??

Quote from: dancingnancy on January 18, 2014, 08:13:33 PM

Quote from: nrd525 on January 18, 2014, 05:59:39 PM

We could start an online petition to encourage MtGox to solve this.

I'm thinking a steady stream of blog posts, coindesk articles, and other news sources could put pressure on them to act.

good idea. do you / anyone know who writes for coindesk? with all the negative about mt gox i am even unsure if it will matter to them anymore. but if you write that they are withholding 51MM dollars, that may make it a much more interesting headline.

Keep high lighting gox is doing it cuz they lost millions cuz they were working with silk road, i mean cuz protecting our privacy.

Didnt Mt Gox also work with Zhou Tong before he was 18 to start this whole mess? Huh

? Could be an interesting addition to the article as well.

S3052

legendary

Activity: 2100

Merit: 1000

Quote from: dancingnancy on January 18, 2014, 08:13:33 PM

Quote from: nrd525 on January 18, 2014, 05:59:39 PM

We could start an online petition to encourage MtGox to solve this.

I'm thinking a steady stream of blog posts, coindesk articles, and other news sources could put pressure on them to act.

good idea. do you / anyone know who writes for coindesk? with all the negative about mt gox i am even unsure if it will matter to them anymore. but if you write that they are withholding 51MM dollars, that may make it a much more interesting headline.

I like this idea.
On our end, I will talk with the team about writing it on http://coinconsultancy.com/

In the meanwhile, I tweeted:https://twitter.com/BitcoinAnalyst

dancingnancy

hero member

Activity: 661

Merit: 500

Quote from: nrd525 on January 18, 2014, 05:59:39 PM

We could start an online petition to encourage MtGox to solve this.

I'm thinking a steady stream of blog posts, coindesk articles, and other news sources could put pressure on them to act.

good idea. do you / anyone know who writes for coindesk? with all the negative about mt gox i am even unsure if it will matter to them anymore. but if you write that they are withholding 51MM dollars, that may make it a much more interesting headline.

nrd525

legendary

Activity: 1868

Merit: 1023

We could start an online petition to encourage MtGox to solve this.

I'm thinking a steady stream of blog posts, coindesk articles, and other news sources could put pressure on them to act.

disclaimer201

legendary

Activity: 1526

Merit: 1001

The liquidators should have sued MtGox over a year ago, as soon as they saw they are in fact not cooperating. You are probably right about the fees and delays, then again, I doubt there would have been enough money to sue them even a year ago. MTGox was close to being insolvent a long time ago and was known for freezing accounts on a random basis, I have no doubt they would just confiscate the coins to increase their liquidity. They probably needed them to survive too.

If there is a lawsuit, as there should be, I will not throw any more good money after bad money, meaning whoever has the most to gain here should lead that battle. Instead, I will continue to speak out against that BS named MTGox that calls itself an exchange, and advise anyone to stay as far away from it as possible.

Maybe, the only good thing out of all this delay and survival of MtGox is that the bitcoin price would have never gone to 1000. It may have been to our advantage (if you hold any BTC anymore that is) that this shitty exchange is still in business. Now that there are several bigger exchanges, we won't need to fear that Bitcoin will take a considerable hit and I hope Gox dies soon as it deserves.

ninjarobot

hero member

Activity: 761

Merit: 500

Mine Silent, Mine Deep

I know the feeling.

The problem is that our funds are in the hands of people that don't care.

In fact their interests are largely aligned against ours:

The liquidator is happy to have an excuse because the longer the liquidation takes the more fees they can rake in.
MtGox appears to have had liquidity issues when the DHS seized their US accounts so locking up the Bitcoinica funds boost their reserves.
Tihan does not care since he waived his rights as a secured creditor and if he touches anything he might lose his limited liability.
The Bitcoinica Consultancy guys don't care because they never signed the paperwork for the General Partnership.
Zhou does not care because he got away cleanly.

So this is going to take a while.

Let's hope nothing bad happens like MtGox becoming insolvent. I suspect the liquidator will run out of USD reserves to pay their fees soon and that will be the starting signal to collect more from the unsecured creditors to prepare for legal action. Legal action just means lawyers will get their piece of the pie.

Topic: Bitcoinica liquidator wants to hear from users - page 7. (Read 64463 times)