wry Posted March 23, 2019 #1 Posted March 23, 2019 (Note: I will be checking in on this thread, please don't make low quality spammy responses, this is actually interesting.) Now this was a really interesting article. Most people who are interested in Bitcoin have heard of Mt. Gox (formerly known as Magic the Gathering Exchange) and the "hack" that brought it down way back in February 2014. As part of the Japanese bankruptcy process a trustee has been collecting claims data and trying to reclaim as much Bitcoin has he can. The trustee has done a good job, and has over 141 thousand bitcoins and a little more than that in bitcoin cash. However, it faces claims over over 800 thousand bitcoins, so clearly cannot make everyone whole, even though it also has 629 million USD in cash (wow!). But while it has claimed its Bitcoin Cash, (ABC I would guess), that still leaves LOTS of coins that forked off of the BTC chain such as: Bitcoin Gold, BitcoinX (BCX), Bitcoin Diamond (BCD), Lightning Bitcoin (LBTC), Bitcoin Private, Super Bitcoin (SBTC), Clams, Bitcoin Interest, Bitcore (BTX) and Bitcoin Atom. I have to admit, I try and follow the news closely, and even I didn't know about all of these! The issue of course is that there is no exchange, anywhere, that could handle that amount of alt coins, so what to do? Crash the prices of all these alt coins for almost no net gain or cheat the claimants out of their forked BTC coins? It's a really interesting puzzle! The plan right now is to auction off the keys to all these alt coins after claims have been paid. I guess my love affair with Bitcoin Cash is over. Link: https://www.coindesk.com/mt-gox-creditors-warn-mass-sale-could-put-bitcoin-fork-prices-at-risk
Featured Comment
Archived
This topic is now archived and is closed to further replies.