Mt. Gox Continues to Piss Me Off
So it looks like the trustee controlling the Mt. Gox massive pool of Bitcoin may be getting ready to sell into more strength and put artificial downward pressure on the price of Bitcoin based on this article:
https://www.newsbtc.com/2018/04/26/16000-btc-and-bch-suddenly-moves-from-mt-gox-wallets/
If they know who the Bitcoin was taken from, why aren't they just giving it back to the people instead of going through the process of liquidating it. Oh yeah, I guess if they did that then they wouldn't get to skim big fees off of the whole process. I can not wait until this if finally over with, but unfortunately I think there may still be a ways to go...
It's much worse. People who "get their money back", don't get the same amount of BTC they had back then. They only get the old USD value. I wonder who is pocketing the massive gains.
Yeah, it is disgusting how that turned out. Just another reason why we need a trustless, decentralized system.
They do not have all the Bitcoin that was lost through the hack. only a portion was recovered.
It is my understanding that at the current BTC value, everyone affected could be made whole based on the dollar amount they lost with much left over. I think it would be much more fair to allow the affected parties to receive a proportional amount of the BTC recovered. If they chose to liquidate it for fiat, that's up to them, but they wouldn't be forced to liquidate at an unfair valuation, which appears to be what is happening. And to add insult to injury, if those affected do have BTC holdings the artificial downward price pressure caused by the Mt. Gox liquidation is reducing the value of their current holdings!
I agree with you, no one is going to get all the bitcoin they have in Mt Gox back but I think passes for crypto isn’t in place for something like this .
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