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I'm the guy who bought 259684 BTC for under $3000 yesterday (2011)
- alex_young 5y agoShould say [2011]
- tartoran 5y agoYep. And probably sold it when he doubled his money
- paulpauper 5y agosure he still has a lot left
- caseyross 5y ago(2011) Discussed at the time: https://news.ycombinator.com/item?id=2676263 https://news.ycombinator.com/item?id=2676263 And 2 years later: https://news.ycombinator.com/item?id=6817095 https://news.ycombinator.com/item?id=6817095
- deleted 5y ago[deleted]
- nomoreplease 5y agoTangent: have the MtGox lawsuits finished? It seemed the main personas are bound to secrecy until they conclude, but that there is a lot of incorrect speculation on what happened in the collapse
- koboll 5y agoI'd like to get my $10 of Bitcoin back. Could buy a decent car with it now.
- elif 5y agoIn that case, it could be in your best interest for the court case to last a decade, when you can buy a decent beach house.
- Scoundreller 5y agoThat's the irony of mtgox, it forced users to hodl that may have sold when they only 10x'd their money or whatever. Or otherwise lost it for good in non-exchange ways.
- vessenes 5y agoNope! Still ongoing in Tokyo district court. I worked with Fortress 2019-2021 to get a deal for creditors to have an early out, though. The Trustee agreed to give creditors a rapid exit option in December of 2020, and scheduled the vote for the ‘quick’ exit for .. wait for it.. October 2021. If creditors approve that plan, then they’ll have an option for an early payout. I have no idea what quick means to Kobayashi though, given that the bankruptcy has taken like 7 years at this point.
- pakitan 5y agoDon't try to paint yourself as the good guy, Peter Vessenes. You may be able to bamboozle someone who is not familiar with the process but not me. The "option for an early payout" is not something to be proud of. Your company Coinlab, with the ridiculous, meritless, $16 BILLION claim, engineered with the sole purpose to block payments to creditors, so you can extort us, is the sole reason we will not be able to get the full amount that is owed to us, once the voting is done. Instead, we'll be forced to take a 10% cut if we want to take the "early payout". Don't put this on the trustee. While he may not be moving at the speed we would like, he is following Japanese law and Japanese court orders. You, on the other hand, are a cunning extortionist, trying to get your hands on our money.
- deltanine99 5y agoSo when your meritless lawsuit eventually gets laughed out of court, will you get any money from fortress in this shady deal you made with the trustee?
- tinco 5y agoYet you kept this deal secret for those creditors, until the point where they had no option but to accept it. The reality of it is that you just colluded with Fortress to cheat the creditors out of millions.
- zylstra 5y agoOh wow, is this for real? Peter Vessenes is the scum of the earth.
- deleted 5y ago[deleted]
- VikingCoder 5y ago259684 BTC * $46,222.60 BTC / USD = 12.0032697 billion USD 643.27 BTC * $46,222.60 BTC / USD = 29.7336119 million USD
- floatingatoll 5y agoSo if they still have those bitcoins, they're worth twelve billion dollars in theoretical value, assuming the market would cooperate. It is unclear if the market would be able to execute a currency outflow of that size successfully without cratering value towards zero. If they still have them, they could single-handedly demonstrate today whether the market can complete a currency exchange of this volume, and the outcome of the transaction would represent its maturity level at "one day of GDP" sized currency changes.
- judge2020 5y agoThe smart thing to do is to pull $1m out every week or so - big exchanges have the capacity to do that much.
- sudosysgen 5y agoAt that rate you will die before getting everything out. A billion dollars really is a lot!
- floatingatoll 5y agoFifty or sixty years to cash out at that rate, so you might still be alive.
- neogodless 5y agoDepends on your age, but it would take 19 years, 3 months.
- lategloriousgnu 5y agoAre you including the increasing value of the BTC in that calculation? I imagine if all goes well, it would be worth a lot more than what it is today in 19 years. It might be impossible to ever withdraw the whole thing at that rate.
- mensetmanusman 5y agoSuch a good story for the history books of humanity’s first attempts at digital currency. It turns out we probably don’t have secure enough code logic or low enough clean power requirements to do crypto this century, but maybe next…
- Overton-Window 5y agoWithin a decade BTC has gone from novelty to the 14th largest currency in the world: https://fiatmarketcap.com https://fiatmarketcap.com "Reality is that which, when you stop believing in it, doesn't go away." ― Philip K. Dick
- gowld 5y ago"currency" is measured in "market cap" now?
- imtringued 5y agoNot just currencies but also countries... That naming scheme is very lazy.
- candyking 5y agoShouldn't every currency have a theoretical market cap relative to another currency? If there are 1 billion Thai Baht and 1 baht trades for 1.0 USD, then the Baht should have a 1B USD market cap in theory.
- imtringued 5y agoWhy is that list missing gold?
- mensetmanusman 5y agoThe list is bunk, BTC is like gold, an asset, not a currency in the common parlance.
- mensetmanusman 5y ago
- deleted 5y ago[deleted]
- ww520 5y agoIsn't Satoshi Nakamoto still holding like 1.5 millions BTC?
- awill88 5y agoThey are so incredibly rich, end of discussion.
- hoherd 5y agoIf this interests you, I recommend reading Jake Adelstein's short book Pay The Devil In Bitcoin.
- stevage 5y agoWow, those 643 bitcoin, which were kind of the loose change in the story, are now worth more than the entire haul was at the time.
- deleted 5y ago[deleted]
- ChrisArchitect 5y agoSomething new to add to this since? A follow up? Anything? If you have to dig up a Wayback copy of a post, this probably isn't news. Some old discussion: https://news.ycombinator.com/item?id=6817095 https://news.ycombinator.com/item?id=6817095
- grepfru_it 5y agoDuring volatile moments in the past, I noticed bitfinex could not keep up with order processing and one could enter almost any number to buy and sell crypto. I would put a buy order in for a price 10% under ask and then immediately sell for 10% over the bid. I amassed a good chunk of coin during these times