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The creditors' claims were converted to yen at the time of bankruptcy by court. MtGox has no say in the matter. Neither I nor MtGox are claiming that they are g
by modeless 6y ago
The creditors' claims were converted to yen at the time of bankruptcy by court. MtGox has no say in the matter. Neither I nor MtGox are claiming that they are going to make people 'whole' in terms of the bitcoin balances they had. But MtGox (Mark Karpeles) is trying to get the court to allow them to pay creditors a whole lot more than their claim value, instead of distributing the excess to shareholders, and to do it in bitcoin instead of yen.
All I'm saying is if you compare a hypothetical scenario where the bitcoin was distributed to creditors in 2014 to the hypothetical scenario where they receive it today, it's practically certain that creditors' aggregate wealth is astronomically higher in the latter scenario, because very few would have held the bitcoin long enough or sold at the right time to realize all of the 15x+ appreciation that has happened in that time.