This isn’t the first time it happened. When MtGox went insolvent, the price of bitcoin tanked and they had enough cash on hand to replace everyone’s funds, but the lawyers said no because there wasn’t enough fees.
This whole thing should have been resolved years ago, I still get bankruptcy emails and I feel bad for the poor soul who has to waste his whole career fighting over who gets the remaining sliver of money instead of doing something productive.
>>When MtGox went insolvent, the price of bitcoin tanked and they had enough cash on hand to replace everyone’s funds, but the lawyers said no because there wasn’t enough fees.
Which lawyers are you referring to that said "no because there weren’t enough fees"? Seems contradictory because lawyers at the time in 2014 had no idea that the value of the remaining digital assets would rise.
> I feel bad for the poor soul who has to waste his whole career fighting over who gets the remaining sliver of money instead of doing something productive.
Returning money is the most productive thing a lawyer can do.
Well, the issue is that the bank covered everyone's losses at the time, from what I understand, but now all the account holders are asking for a share of this new booty that has been recovered.
Payouts still have not actually started. It is long been theorized that BTC prices will crash when they do, since the market will be flooded with people trying to finally realize their USD gains.
A few thibgs to say for MtGox and its founder: they were a frontline casualty in crypto exchanges, demonstrating irrefutably how important security is. Not everyone got the memo, but many did.
Also, they have been pretty good at accepting blame and trying to fix what they could.
Readit News
This whole thing should have been resolved years ago, I still get bankruptcy emails and I feel bad for the poor soul who has to waste his whole career fighting over who gets the remaining sliver of money instead of doing something productive.
Which lawyers are you referring to that said "no because there weren’t enough fees"? Seems contradictory because lawyers at the time in 2014 had no idea that the value of the remaining digital assets would rise.
Returning money is the most productive thing a lawyer can do.
Deleted Comment
The only proven way to make a killing in crypto is to be physically prevented from losing it, trading it, or selling it for ten years.
Which is very well known in the crypto world with these two mantras:
Deleted Comment
https://en.wikipedia.org/wiki/2016_Bitfinex_hack
Also, they have been pretty good at accepting blame and trying to fix what they could.
Deleted Comment
You're out of luck if you haven't archived a registration or password reset email
Also probably out of luck regardless due to deadlines