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You are very patient Everyone I know who had funds on MtGox at the time of bankruptcy, ended up selling their claim (most to Fortress), for a pretty good amoun
by nico 3y ago
You are very patient
Everyone I know who had funds on MtGox at the time of bankruptcy, ended up selling their claim (most to Fortress), for a pretty good amount, in fact more in USD than what their BTCs were worth at the time of bankruptcy
- Scoundreller 3y agoWho ended up better off? The claim seller or claim buyer? (Obviously there’s an element of risk and discounting of future returns, but I’m sure the claims buyers know what they’re doing. They’re not in the business of taking Ls)
- nico 3y agoIt all depends If the people that sold needed the money, they are for sure better off, even if they got less money than waiting Additionally, it’s impossible to know if they invested it in something that gave them better returns than waiting Fortress might know what they are doing, but for sure they can’t exactly predict the price of BTC or that there would be a pandemic and the behavior of the markets during the pandemic Potentially someone that sold in late 2019 and put their money into TSLA, NVIDIA or even Moderna, might have made more money than and unknown figure they could get when the bankruptcy proceedings finally pay out. If they exit(ed) the market at the right time I think it’s a good trade for both sides, no need to have a winner and a loser
- Scoundreller 3y agoSure, but you're assuming that the claim seller knew more about future average returns than the buyer. Chances are they didn't, or even if they did, took too little after the buyer's commission and still lost out. But hey, sometimes the hedge fund has a better job acquiring "dumb" money and pays more than claims are worth just so they can get their cut.