gox and the 20 percent payout? - page 2.

thresher

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Quote from: Nagle on April 17, 2014, 02:01:32 PM

Quote from: thresher on April 17, 2014, 01:46:31 PM

Thanks for clearing that up a bit. I have no idea what kind of hardware they have or would need at an exchange like gox. I just sort of assumed that they have to have some expensive equipment or property.

No, all they had was leased office space and leased server space. Mt. Gox was mostly on Amazon AWS.

However, I suspect that with Karpeles out, a bankruptcy trustee in charge, outside experts being brought in, and the Tokyo police investigating, more money and Bitcoins will turn up. With a list of all Mt. Gox wallets, the Mt. Gox customer list, and the Bitcoin block chain, everything on the Bitcoin side should be traceable.

Cool: good news.

Quote from: Massimo80 on April 17, 2014, 02:12:31 PM

Quote from: Nagle on April 17, 2014, 02:01:32 PM

Mt. Gox was mostly on Amazon AWS.

A financial trading system running on cloud servers?!? Shocked

They must have been really crazy...

To my knowledge Prudential runs on cloud servers Wink

Massimo80

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Quote from: Nagle on April 17, 2014, 02:01:32 PM

Mt. Gox was mostly on Amazon AWS.

A financial trading system running on cloud servers?!? Shocked

They must have been really crazy...

Nagle

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Quote from: thresher on April 17, 2014, 01:46:31 PM

Thanks for clearing that up a bit. I have no idea what kind of hardware they have or would need at an exchange like gox. I just sort of assumed that they have to have some expensive equipment or property.

No, all they had was leased office space and leased server space. Mt. Gox was mostly on Amazon AWS.

However, I suspect that with Karpeles out, a bankruptcy trustee in charge, outside experts being brought in, and the Tokyo police investigating, more money and Bitcoins will turn up. With a list of all Mt. Gox wallets, the Mt. Gox customer list, and the Bitcoin block chain, everything on the Bitcoin side should be traceable.

Keyser Soze

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20% is most likely a rough estimate of the current bank balances plus current value of bitcoin holdings divided by amounts owed. Hopefully there will be more concrete information available as the bankruptcy proceedings continue.

thresher

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Quote from: Massimo80 on April 17, 2014, 10:20:34 AM

Quote from: thresher on April 17, 2014, 05:46:12 AM

I don't understand why the 20 percent number is being thrown around.
I understand 200k bitcoins is 20 percent of the bitcoins they had, but what about all their equipment, bank accounts, etc.
Is there a reason that those items are not being factored into the total amount people receive?

First of all, keep in mind that this is only a rough estimation of currently known company assets; a real inventory has yet to begin, and there is a very good chance it will uncover something that has been hidden and/or not disclosed.

Anyway, equipment (such as servers, office furniture, etc.) accounts for very little in a financial company which only operated online; the real money was (is?) in Bitcoin wallets and bank accounts.

Thanks for clearing that up a bit. I have no idea what kind of hardware they have or would need at an exchange like gox. I just sort of assumed that they have to have some expensive equipment or property.
Also the 200k btc, doesn't include bank account amounts, so...

Massimo80

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Quote from: thresher on April 17, 2014, 05:46:12 AM

I don't understand why the 20 percent number is being thrown around.
I understand 200k bitcoins is 20 percent of the bitcoins they had, but what about all their equipment, bank accounts, etc.
Is there a reason that those items are not being factored into the total amount people receive?

First of all, keep in mind that this is only a rough estimation of currently known company assets; a real inventory has yet to begin, and there is a very good chance it will uncover something that has been hidden and/or not disclosed.

Anyway, equipment (such as servers, office furniture, etc.) accounts for very little in a financial company which only operated online; the real money was (is?) in Bitcoin wallets and bank accounts.

thresher

hero member

Activity: 700

Merit: 500

I don't understand why the 20 percent number is being thrown around.
I understand 200k bitcoins is 20 percent of the bitcoins they had, but what about all their equipment, bank accounts, etc.
Is there a reason that those items are not being factored into the total amount people receive?

Topic: gox and the 20 percent payout? - page 2. (Read 2300 times)