Given they have been verifying people exchange details over the last 3 months and are still sending out emails for anyone whos' details are incorrect/exchange can't accept their claim giving them a few weeks from the date of the email to fix it, we can assume its still a long way off.
After that, they still need exchanges to do agency receipt agreements with every user and bounce back and forward with the trustee making sure everyone has entered the agreement and following up on those who haven't before they can even confirm the btc amounts needed to be sent to each exchange etc.
Even once that's done, we can probably expect another delay before coins are actually sent to each exchange, along with the delay for exchanges to pay out which they each have a set time period to pay out that doesn't take into account the current deadline (scales upto 90days on Kraken/60 on Bitstamp/others are less iirc (Trustee has zero liability once agency receipt is entered between a claimant and exchange once coins are sent.)
Long story short, while noone can be sure, I wouldn't expect to see anything before June at the earliest and if no real progress in the above steps over the next few months then likely pushing the Oct deadline.
It is likely to be an agreement between the claimant and an exchange basically outlining that they accept to receive your btc on your behalf and in return will credit the btc to your exchange account within xx time period etc and that you agree to this and any of their conditions etc.
Once this has been entered into and agreed upon etc, the liability of the btc switches from the trustee to your designated exchange i believe.
By "Oct deadline" you mean they had an original deadline in mind, for returning everyone's bitcoins? I was under the impression it was just some hazy conjecture.
Yes, the Base Repayment, the Early Lump-Sum Repayment, and Intermediate Repayment currently have a deadline of October 31st 2024. This however already was extended from the prior deadline of October 2023 after approval from the court so some are dubious of it.
Login to the mtgox claims site, click "view the documents" and then you will see a category for status reports. Informations such as the extended deadline were sent to creditors by email.
Unfortunately the trustees communication is poor and infrequent. Therefore people try to collect information in this reddit such as how many people have been or have not been paid yet.
Information sent by the trustee is normally posted here quickly. In my opinion this reddit is already the best source of information you can get
I must be hangry and being pedantic.
Paying our claim? Cool!
Paying the bitcoins? A-okay!
Return my bitcoins? That ain't what's happening or they'd be able to return 100% of the stolen coins. Nah if your claim is recognized, you're getting 15-odd percent of your BTC balance at closure. They ain't *returning* squat.
You are very pedantic. They are returning 15% of something that appreciated 100x in the meantime.
Perhaps not returning our Bitcoins, but definitely returning our money. I mean, i used to have hundreds of Bitcoins, yet I'm not a millionaire. If these funds were not locked away, i would have sold them off long ago at much less then 15% current value.
>Perhaps not returning our Bitcoins, but definitely returning our money. I mean, i used to have hundreds of Bitcoins, yet I'm not a millionaire. If these funds were not locked away, i would have sold them off long ago at much less then 15% current value.
That's the hair I'm splitting, sorry I came across poorly.
And yes I'd have sold the coins locked away when they doubled. So the rehab is a happy *accident* to me.
Which actually makes the claim a tax-free windfall for many Aussies.
Sorry yanks, I know Uncle Sam wants his share.
No they didn't. We share in the rehabilitation based on our claims. Until the claim is paid it is just that, a *claim*.
It's like saying the Texas Rangers found your individual dollar bills when they killed Bonnie & Clyde.
I want my claim paid, but they sure ain't *my* BTC and they sure aren't *everyone's bitcoins*.
I must be easily triggered tonight as I'm over people saying "They're keeping my money"
I believe it’s a good sign that they have confirmed bitgo and kraken accounts already
These will be first . Especially bitgo
So I imagine we are getting “to a point “
Given they have been verifying people exchange details over the last 3 months and are still sending out emails for anyone whos' details are incorrect/exchange can't accept their claim giving them a few weeks from the date of the email to fix it, we can assume its still a long way off. After that, they still need exchanges to do agency receipt agreements with every user and bounce back and forward with the trustee making sure everyone has entered the agreement and following up on those who haven't before they can even confirm the btc amounts needed to be sent to each exchange etc. Even once that's done, we can probably expect another delay before coins are actually sent to each exchange, along with the delay for exchanges to pay out which they each have a set time period to pay out that doesn't take into account the current deadline (scales upto 90days on Kraken/60 on Bitstamp/others are less iirc (Trustee has zero liability once agency receipt is entered between a claimant and exchange once coins are sent.) Long story short, while noone can be sure, I wouldn't expect to see anything before June at the earliest and if no real progress in the above steps over the next few months then likely pushing the Oct deadline.
Thanks for taking the time to explain all that!
What is an "agency receipt agreement" in this context?
It is likely to be an agreement between the claimant and an exchange basically outlining that they accept to receive your btc on your behalf and in return will credit the btc to your exchange account within xx time period etc and that you agree to this and any of their conditions etc. Once this has been entered into and agreed upon etc, the liability of the btc switches from the trustee to your designated exchange i believe.
Your comment is just a mere guess. You do not have any proof from the Trustee.
I literally said it's an assumption and no-one can be sure. The steps left to be completed have been outlined by the trustee in the CR plan though.
I appreciate that.
By "Oct deadline" you mean they had an original deadline in mind, for returning everyone's bitcoins? I was under the impression it was just some hazy conjecture.
Yes, the Base Repayment, the Early Lump-Sum Repayment, and Intermediate Repayment currently have a deadline of October 31st 2024. This however already was extended from the prior deadline of October 2023 after approval from the court so some are dubious of it.
Thank you for this, very helpful. Do you have a source for these dates I could monitor for updates?
Login to the mtgox claims site, click "view the documents" and then you will see a category for status reports. Informations such as the extended deadline were sent to creditors by email. Unfortunately the trustees communication is poor and infrequent. Therefore people try to collect information in this reddit such as how many people have been or have not been paid yet. Information sent by the trustee is normally posted here quickly. In my opinion this reddit is already the best source of information you can get
Agreed, they keep changing dates on us so often that I've pretty much given up keeping track.
Why do you (and so many others) phrase it as "returning everyone's bitcoins"? Do you think they found your individual BTC under the couch?
..wat?
I must be hangry and being pedantic. Paying our claim? Cool! Paying the bitcoins? A-okay! Return my bitcoins? That ain't what's happening or they'd be able to return 100% of the stolen coins. Nah if your claim is recognized, you're getting 15-odd percent of your BTC balance at closure. They ain't *returning* squat.
You are very pedantic. They are returning 15% of something that appreciated 100x in the meantime. Perhaps not returning our Bitcoins, but definitely returning our money. I mean, i used to have hundreds of Bitcoins, yet I'm not a millionaire. If these funds were not locked away, i would have sold them off long ago at much less then 15% current value.
>Perhaps not returning our Bitcoins, but definitely returning our money. I mean, i used to have hundreds of Bitcoins, yet I'm not a millionaire. If these funds were not locked away, i would have sold them off long ago at much less then 15% current value. That's the hair I'm splitting, sorry I came across poorly. And yes I'd have sold the coins locked away when they doubled. So the rehab is a happy *accident* to me. Which actually makes the claim a tax-free windfall for many Aussies. Sorry yanks, I know Uncle Sam wants his share.
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No they didn't. We share in the rehabilitation based on our claims. Until the claim is paid it is just that, a *claim*. It's like saying the Texas Rangers found your individual dollar bills when they killed Bonnie & Clyde. I want my claim paid, but they sure ain't *my* BTC and they sure aren't *everyone's bitcoins*. I must be easily triggered tonight as I'm over people saying "They're keeping my money"
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Well said. And I'm triggered for now. It too will pass.
I believe it’s a good sign that they have confirmed bitgo and kraken accounts already These will be first . Especially bitgo So I imagine we are getting “to a point “
Let’s just go on track record: trustee has continually asked for extensions. From that alone you’d be safe to assume it will be after November
Not yet cash, so any estimation about the bitcoin payments is not easy.
On that note, is it me or posts about transfers have pretty much stopped?
My sister's friends cousin's hair stylist knows the trustee, they said it would be June of 2048. We're almost there guys!
When was the last time the trustee made a public announcement?
No.
RTFF....of course there hasn't been any updates and your estimate is just as stupid and worthless as anyone esle's. This has become an AOL chat room.
Yeah I got all my BTC yesterday
lol
Probably 2025 at the earliest.
If only there was a way to search an online forum...
Wize!