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What if they decide the best way to proceed is by selling off all 200k BTC for US/EUR/AUD/etc, which is then distributed among debtees? Feel free to contact so

by patio11 12y ago

What if they decide the best way to proceed is by selling off all 200k BTC for US/EUR/AUD/etc, which is then distributed among debtees? Feel free to contact someone who actually practices bankruptcy law in Japan for a more authoritative answer, but I'd bet a dollar against a yen that they do exactly this. I would further bet that it would be a good time to be in Tokyo and capable of convincing a member of the Japanese establishment that one was willing and able to pay a substantial sum of yen, held at a reputable Japanese bank and having absolutely crystal clear provenance to a reputable business, for the impaired assets. The successful candidate will also exude the ability to complete complex high-value transactions in a manner befitting A Business Run By Responsible Adults (TM).

user24 12y ago
Indeed; I disagree that it's "unlikely that whoever is in charge of Mt. Gox's assets would be that shortsighted". Their priority will be immediate liquidation of assets. They will simply not be concerned about maximising the return and certainly not concerned with preserving the bitcoin economy. It will be about getting USD (or JPY) as soon as possible. I would think. Not an expert but this seems reasonable. It's the same reason you can buy cheap office equipment when a company goes into administration. They could get more if they spent more time selling it, but their objective is to liquidise, pay off debts and move on. On the other hand, is it clear that suddenly releasing 200k bitcoins would be catastrophic? I remember similar mass selloffs in the past which did cause dips but only short term (the decline in BTC value over the last 6 months is surely not the result of a few isolated large-scale selloffs!?). Not sure about the volumes involved in the past though. They were derided as irresponsible IIRC. But bitcoin survives, more or less.

by patio11 12y ago

user24 12y ago

Indeed; I disagree that it's "unlikely that whoever is in charge of Mt. Gox's assets would be that shortsighted". Their priority will be immediate liquidation of assets. They will simply not be concerned about maximising the return and certainly not concerned with preserving the bitcoin economy. It will be about getting USD (or JPY) as soon as possible. I would think. Not an expert but this seems reasonable. It's the same reason you can buy cheap office equipment when a company goes into administration. They could get more if they spent more time selling it, but their objective is to liquidise, pay off debts and move on. On the other hand, is it clear that suddenly releasing 200k bitcoins would be catastrophic? I remember similar mass selloffs in the past which did cause dips but only short term (the decline in BTC value over the last 6 months is surely not the result of a few isolated large-scale selloffs!?). Not sure about the volumes involved in the past though. They were derided as irresponsible IIRC. But bitcoin survives, more or less.