Bitcoin windfall for Mt. Gox creditors after 10 year wait
cnbc.com
cnbc.com
This whole thing should have been resolved years ago, I still get bankruptcy emails and I feel bad for the poor soul who has to waste his whole career fighting over who gets the remaining sliver of money instead of doing something productive.
Returning money is the most productive thing a lawyer can do.
Which lawyers are you referring to that said "no because there weren’t enough fees"? Seems contradictory because lawyers at the time in 2014 had no idea that the value of the remaining digital assets would rise.
The Trustee in this case wanted to sell everything and be done with the case, handling it as a standard fiat bankruptcy. I believe that it was only due to creditors with enough sway (i.e. whales who could afford their own legal teams) that pressured the Trustee to value the assets accordingly.
To your point, the consequence of the successful persuasion has resulted in a high number of billable professional services hours from all sides which has definitely been a drain on the estate and creditor wallets. However, anybody (else) implying that it was the [nebulous] "lawyers" who orchestrated an evil scheme to perpetuate their billable hours from the get-go is being disingenuous and/or lazily finger pointing, unless of course they have some evidence or sources to back their assertion up.
This makes sense because confidently saying “it just sort of happened” is less nebulous or lazy. It is intellectually dangerous to attempt to connect decisions made by groups of people to either the people involved or their decision making processes.
The only proven way to make a killing in crypto is to be physically prevented from losing it, trading it, or selling it for ten years.
When the stocks starts its fall towards 0 people will do incredible mental gymnastics, clinging to any shred of hope that things will turn around and they will revert their losses, so it takes them much more time to get out of the bad investment.
For me and probably many others, when expediency isn't an issue, BTC works great.
Which is very well known in the crypto world with these two mantras:
- "Not your keys, not your coins" (meaning one shouldn't trust anyone)
- "HODL" (aka "hold on to your coins")Also, they have been pretty good at accepting blame and trying to fix what they could.
You're out of luck if you haven't archived a registration or password reset email
Also probably out of luck regardless due to deadlines
says a lot about the two economies and their entire ethos
when it really makes it simpler
Those creditors were welcome to sue the entity in bankruptcy for their potential losses, but that would involve demonstrating they'd have had the wherewithal to hold to the point of the gains they're claiming.
I do think that FTX creditors should not have profited out of the bankruptcy proceedings, either.
I, for one, would not like to be in charge of pressing the button that distributes several billions of dollars to thousands of different people without it fucking up. If someone is doing that this July you would hope that they have dotted all their Is and crossed all their Ts.
It's honestly not that impactful as people may think.
Note that BTC's last 24h volume was $15Billion (some of it is fake, but it's still alot)
The price reaction to this news proves it.
But the study is from 2021, maybe introduction of Bitcoin ETFs made things better.
That was the original intent for the domain, but to my knowledge it was never launched.
According to the creator, it did. It just wasn't that popular and he switched to a different game, The Far Wilds, for a bit, then pivoted to bitcoin (with entirely different code).
The interview was in 2014 and edited with proof on wikipedia, so I'm surprised people still believe it wasn't a trading card site.
https://web.archive.org/web/20220811085644/https://www.gwern...
It's too bad my original comment got slammed because PHP deserves the slamming IMHO