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Converting all the claims to a single currency is the only logical approach. Keeping the claims separated leads to a bunch of difficult questions: - Should the
by judofyr 9y ago
Converting all the claims to a single currency is the only logical approach. Keeping the claims separated leads to a bunch of difficult questions:
- Should the BTC creditors only get money from the remaining BTC pool?
- Assets (servers, offices etc) will be sold for Yen, should this money only be used to pay the Yen creditors?
- Expenses are being used from the Yen pool at the moment. Does this mean Yen creditors would get less money?
And let's not kid ourself: No one thinks about the value of Bitcoin in terms of "amount of BTC". Everyone converts it to dollars using the current exchange rate. It's not like there's a society where "50 BTC = big house", and now that you'll only get back 10 BTC (or whatever the ratio is) you can't buy that house anymore.
You could argue about at what rate/date you should convert the BTC claims to Yen, but the only reason people complain now is that the price happens to be higher. I personally think it would be more fair to lock the price to the exchange rate when MtGox stopped trading.
(Disclaimer: I have a 16k USD claim in MtGox)
- brianpgordon 9y ago> 50 BTC = big house You're killing me. I'm pretty sure that back when BTC was worth in the single digits of USD I had that many BTC in my account. I must have sold them for a pittance. It's so painful to just read the above words. A lot of people must feel this way because ICOs seem to be attracting a strangely large amount of capital. I guess psychologically nobody wants to miss the next big thing.
- fjdlwlv 9y agoIt's like baseball cards and comic books. If everyone held on their btc, they wouldn't be worth as much as they are. You may as well grumble that your lotto ticket didn't end up worth a million dollars