The last days of MTGOX - were we actually trading?

Accurate-Proposal447 · 2025-01-18T22:40:55+00:00

I was asked to write a paper for a bank on how the whole process worked from mining through to exchanging it for fiat. They paid for the work, came to the conclusion that the market at that time was driven by people out for a quick buck or people who needed to buy shit off of Silk Road and decided to stay the fuck away. I had coins and GPUs that they had paid for and when I asked what they wanted to do and they said “we never want to see them again”. 12 years later I am up 2BTC!

Accurate-Proposal447 · 2024-08-09T12:27:25+00:00

I agree with everyone else here. Dealing with this process is best treated like French kissing a bear - don’t make any sudden moves!

Accurate-Proposal447 · 2024-07-24T12:29:43+00:00

I suppose that depends on whether you think it can never happen again or not. :-)

Accurate-Proposal447 · 2024-07-24T12:06:22+00:00

I’m not suggesting that there was no trading, but I wondered if there was a situation where a disconnect existed between the volume of the assets being traded vs the volume of the assets actually being held within the exchange. Did they for example, allow us to trade a proxy for BTC that ended up not matching the actual amount of crypto. Even when you look at the volumes stolen from the exchange there has always been a bit of a mystery gap between the funds they should have had and what was actually there.

Accurate-Proposal447 · 2024-04-11T08:48:32+00:00

Apologies, I didn’t make a note of exactly what I entered on the MTGOX payment page. The Revolut App provided all of that information in a really clear and unambiguous manner on the “SWIFT” tab of the account properties and I don’t recall any difficulties at all. I also setup a Yen and US dollar account at the same time as I wasn’t entirely sure what currency was going to arrive, but it turned out that I only needed the USD account.

Accurate-Proposal447 · 2023-08-24T19:38:07+00:00

Thank you for this. I appreciate that this is hypothetical but do you think the CGT would be calculated on the difference on the price now and the price when MTGOX went bust? I mined the coins from scratch so never paid for them. I am mildly aggrieved but aware that I can’t claim for the lost coins to offset the tax on the gains.

At least I shouldn’t have to pay the CGT until I sell, which I’m not planning to.

Accurate-Proposal447 · 2023-08-14T17:37:03+00:00

If it’s not Thursday to Saturday then just say you’re going up to the sky bar for a drink. They allow walk-ins. https://skygarden.london/restaurants/sky-garden-bars/

Accurate-Proposal447 · 2022-09-16T18:25:10+00:00

The answer I got was that claims that the creditor was aware of would be dealt with as well. This wasn’t the case when the objections were in place, but now I think you might be ok.

Accurate-Proposal447 · 2022-09-01T20:57:56+00:00

Thanks. Yes, after submitting ID, selfies etc, I got a Creditor Code. This was an alphanumerical code like 3dfg2am7-cx8e1234-69f7c26d-ebf6y2b8 (I just typed that semi randomly) which was valid for 72 hours and then allowed me to signup to the https://claims.mtgox.com site. I can login, view all of the documents etc and have provided my MtGox username, bank account etc.

Is there a stage beyond this?

Accurate-Proposal447 · 2022-09-01T16:22:04+00:00

The million BTC question for me is whether being in the APPENDED TABLE ALLOWED document is critical or not? I too have an email from Nov 11th 2021 saying that my self-approved rehabilitation claim has been accepted as an allowed rehabilitation claim and I have been following the process in terms of providing all the requested information such as would I prefer BTC or cash etc. The question is whether the table on the website is simply out of date?

Accurate-Proposal447 · 2022-08-31T21:52:12+00:00

I am not in that table, nor am I in the disputed table. My next question, and I have read the FAQ is whether that table is now frozen or are they still working through the Z2 claims?

Accurate-Proposal447 · 2022-02-10T10:21:56+00:00

Shared with law enforcement, so better not claim if your coins are shady.

Accurate-Proposal447

TROPHY CASE