Author

Topic: Only U.S. and Canadian customers will split 200,000 bitcoins held by Mtgox? (Read 892 times)

newbie
Activity: 38
Merit: 0
Failed bitcoin exchange Mt Gox gets U.S. bankruptcy protection

According to the logic,
http://www.reuters.com/article/2014/06/17/us-bitcoin-mtgox-bankruptcy-idUSKBN0ES2WZ20140617

"Under the deal, U.S. and Canadian customers will split the 200,000 bitcoins held by Mt. Gox and share in a 16.5 percent stake after Mt. Gox is sold."

Only U.S. and Canadian customers will split 200,000 bitcoins held by Mtgox

So what about European, Russian and Chinese? They will get nothing?

No, this is yet another case of sloppy journalism, copied and pasted.

Read the FAQ at savegox.com, specifically this part:

"Q: Sunlot signed the agreement with U.S. and Canadian customers, but what about creditors elsewhere?

If the agreement gets the necessary court approvals, it will serve as a framework for returning assets to creditors around the world. All MtGox customers will receive the same treatment and the same benefits."

and this:

"Under our plan, any recovered assets would be returned to customers, after a bounty fee is paid that sets a reward for helping us find and recover the coins."


legendary
Activity: 2128
Merit: 1074
That would be plain robbery.  Angry
member
Activity: 104
Merit: 10
savegox plan is shady. First, it's unclear whether remaining coins will be split between every customers or just U.S and Canadian customers. But there's more. They plan to exonerate several people who may be responsible for this mess, including Gonzague Gay Bouchery. Apparently, they were in contact with Gox / Karpeles before bankruptcy failing and may be involved in the collapse.

Let's suppose they planned this with Gox.
1) They declare bankruptcy
2) Their plan is adopted. They share the 200,000 "found" coins between customers (either US/canadians or everybody)
3) They later "find" remaining bitcoins (which were never lost in reality), which are now assets of the new gox company
4) The real owners (us) get only 16.5 of the 650,000 remaining coins

Just a theory, but there are too red flags in my opinion to allow such a plan.
newbie
Activity: 29
Merit: 0
Failed bitcoin exchange Mt Gox gets U.S. bankruptcy protection

According to the logic,
http://www.reuters.com/article/2014/06/17/us-bitcoin-mtgox-bankruptcy-idUSKBN0ES2WZ20140617

"Under the deal, U.S. and Canadian customers will split the 200,000 bitcoins held by Mt. Gox and share in a 16.5 percent stake after Mt. Gox is sold."

Only U.S. and Canadian customers will split 200,000 bitcoins held by Mtgox

So what about European, Russian and Chinese? They will get nothing?
Jump to: