here's a question,
why doesn't this get more play around here?
http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/
this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them,
I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there.
why doesn't this get more play around here?
http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/
this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them,
I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there.
Not that it is much of my business, but...
...why is there no discussion anywhere that the BTC given to Mt.Gox for safekeeping are not that company's assets, nor loans to it? They belong to the customers as customer property (or customer funds). In liquidation, the customer property is returned to its owner and not commingled with company assets nor used to pay its lawyers. If the guardian has failed with safekeeping so that a part of the property is stolen, the loss should be prorated, especially if there is no mention in TOS.
Actually it is my business (point: III). I decided to mention this once in every 500 posts.
I agree with your interpretation of how the remaining assets of gox should be handled.
Unfortunately for the holders, my *limited* understanding of japan's bankruptcy protocols, they will first liquidate all holdings into a common asset (most likely japanese yen) and then distribute from there... It may take many years. Such is the pace of the legacy system.
Just an example how regulation only makes things worse.
this fight is only starting...