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> a depositor could expect to recover no more than fifty-nine cents to the dollar 59% is a wet-dream scenario. Apparently they are trying really hard to value
by pakitan 13y ago
> a depositor could expect to recover no more than fifty-nine cents to the dollar
59% is a wet-dream scenario. Apparently they are trying really hard to value the lost 750K BTC at the closing MtGox price which was around $100. And Bitcoin is actually $566 now. It looks more and more that if anyone gets anything at all it will be under 10 cents to the dollar.
- JumpCrisscross 13y ago>Apparently they are trying really hard to value the lost 750K BTC at the closing MtGox price which was around $100. Comical. The equivalent of a shipper, having sunk its cargo, claiming the damages it owes are diminished by the cargo being worth less for having dropped to the sea floor.
- bushido 13y agoRecovery in this case will most likely be in the underlying asset i.e. BTC. Having knowledge of a ton of these situations what will actually reduce the payout/recovery substantially are: a. The time it will take to recover => 2-5 years b. The customers will be on the hook for all accountant and legal fees, which will easily erode 40-80% of the recovery amount So the expected recovery would be in the range of 0.118btc - 0.354btc per 1btc. The only saving grace to recover the USD value would be if at time of recovery BTC was trading at $1600 - $4796 USD/BTC.