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+--- Thread: MtGox Funds - HUGE HOAX ? (/showthread.php?tid=6261862)
MtGox Funds - HUGE HOAX ? - SIM-1866423 - Jan 23, 2024
Your proportional slice of the trust is based on it's value in yen as of the date civil rehab was adopted, NOT based on it balances. For example, 1 yen = 1 yen, 1 USD = 111 yen, 1 BTC = 749,319 yen, 1 BCH = 97,481 yen.
The size of your slice doesn't change even though 1 BTC currently equals about 42,800 USD. When establishing a proportion, the assets in the trust are treated by the same valuation as is for your claim.
The first 200k yen of a claim is repaid before the proportional treatment. This is called the small sums payment. Interestingly, the closer your claim's value is to 200k yen, the closer your proportion appears to increase. For example, a claim valued at exactly 200k yen will repay 100%.
Since small sums is first repaid from cash balances, if your claim doesn't have a cash balance or is less than 200k yen, the ratio of how it is repaid from your crypto claim's yen valuation is 88.5% from BTC before proportional treatment and 11.5% from BCH before proportional treatment. If you you don't have a cash balance in your claim, this amounts to 176,976 yen from BTC and 23,023 yen from BCH. This ratio is determined by the weight of of BTC to BCH in yen valuation.
Cash balances claimed during bankruptcy (pre-civil rehab) will repay 100% of their value as well as delay damages (about +25.9%). The yen has weakened since bankruptcy which valued 1 USD at about 103 yen. This difference from today's rate of about 140 yen per USD means the delay damages just about offset the amount yen has weakened.
A claim's remaining value after the small sums payment (for the ELSP option) repays in an allotment of crypto and an allotment of cash. Approximately 15% of its value is returned as crypto, and approximately 6% is returned as cash (15% + 6% = 21% !!).
If you elected for an all cash repayment, the trustee will sell your crypto share through whatever his OTC channel is when repayments are made. This is NOT the 749,319 yen figure used in its valuation. It will be near the price per coin on that day.
Source ; https://www.reddit.com/r/mtgoxinsolvency/comments/18hxt0a/comment/kd9nvrn/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button
So if it is fucking true, that huge dump everyone talking about is impossible under these conditions ? Can anyone smart can explain all this bullshit ? What i understand nobody will get anything significant it was impossible to return all these bitcoins with current day value anyway.
RE: MtGox Funds - HUGE HOAX ? - Truth - Jan 23, 2024
idk, personally moving on from this BS, lost a bunch on BTC-e / wex.nz, anyone remember that BS?
smh moving on
I know GBTC shareholders are dumping billions due to high fees
RE: MtGox Funds - HUGE HOAX ? - SIM-1866423 - Jan 24, 2024
(Jan 23, 2024 05:22 PM)Truth Wrote: idk, personally moving on from this BS, lost a bunch on BTC-e / wex.nz, anyone remember that BS?
smh moving on
I know GBTC shareholders are dumping billions due to high fees
They are really not matters, entire funds moving other more trusted companies ;
edit * ; On January 23, the total net outflow of Bitcoin spot ETFs was US$105 million, of which Grayscale ETF had a net outflow of US$515 million. Other ETFs except Grayscale had a total net inflow of US$410 million. The single-day net inflow of BlackRock ETF IBIT was US$160 million. Fidelity ETF FBTC had a single-day net inflow of US$157 million.(source : https://alpha.sosovalue.xyz/research?categoryList=News§or=ETF)
![[Image: qnfkIhc.png]](https://i.imgur.com/qnfkIhc.png)
5b$ is nothing and there is not enough bitcoin for everyone it will lead pump eventually.But i am really interested in mtgox situation, i would like to know how many BTC they will get for each btc they own people are start to getting pay already but what i see almost all of them getting as CASH not actual bitcoins.
RE: MtGox Funds - HUGE HOAX ? - Truth - Jan 24, 2024
(Jan 24, 2024 04:01 AM)SIM-1866423 Wrote: They are really not matters, entire funds moving other more trusted companies ;
5b$ is nothing and there is not enough bitcoin for everyone it will lead pump eventually.But i am really interested in mtgox situation, i would like to know how many BTC they will get for each btc they own people are start to getting pay already but what i see almost all of them getting as CASH not actual bitcoins.
yeah the real wild card is when the ETF gets options, that is real leverage, you can buy a contract worth 100 shares for cheap. that can create some god candles
RE: MtGox Funds - HUGE HOAX ? - Mewtwo - Jan 24, 2024
Obviously that will be the case for any crypto cases . The day it was stolen, or the day the company goes bankrupt, is the price it was that day.
So whatever bitcoin is left, most likely mark karpeles will keep. Maybe mtgox will restart again as a a crypto service. I wouldn’t trust them!