Now that people who have been forced to hodl for more than 10 years are getting back their bitcoin, I imagine there must be many stories of hope, redemption, and tragedy that are now playing out in real time. Privacy will still be an issue, even though governments are aware of the distributions. I wonder if this event will spawn books and articles? I can't help imagining some of these tales: families escaping poverty, people dying just before the payouts are received, heirs inheriting fortunes, etc.
Is it just me? Is anyone else curious? Does this post simply warrant a "nice try, fed?"
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I could definitely see a book being written. It’s such a wild story.
Imagine some guy taking a flyer on bitcoin based on a friend's tip, knowing nothing about it, then being forced to hang on through all the ups and downs?
All part of the tale.
Those guys will probably sell but there are funds that have bought claims and OG bitcoiners that likely won’t sell.
Or, he learned over the years and now won't sell.
Or sell part of the stack and hodl the rest. Probably a lot of that. I am sure these guys know the halving just occurred and prices will likely be higher 6-12 months from now.
Yeah. They have lived through a few cycles!
Will you attempt to write it?
I would love to listen ! But, I doubt there are many! My guess is so because Mt Gox was hacked way before almost all of us even came to know what Bitcoin is!
I would love to be wrong on this!
Yes, I don't expect that there are many SN members who are Mt. Gox creditors, but you never know. What I'm thinking is that books and articles might come out telling some great stories.
They are here, hodling quietly
The creme of the crop are.
Yupp, we can do that.
Will gladly hear some!
It was in 2011 when it got hacked! Am I right? I just wonder if there were more than a few hundred significant holder of Bitcoin by that time..
It was 2014. There were many people holding. I think bitcoin almost hit 1k in fiat price that year.
https://www.in2013dollars.com/bitcoin-price-in-2013
https://www.in2013dollars.com/bitcoin-price-in-2014
https://www.in2013dollars.com/bitcoin-price
Are people getting back their bitcoin or the amount it was worth at that time?
I believe the bitcoin is sent to a person's account on an exchange. Then, the person can take custody or sell it for fiat.
Interesting.
I thought they had a hack, how are they going to cover everyones balance?
It's a long story. You can start with wikipedia:
https://en.wikipedia.org/wiki/Mt._Gox
This book has a good chapter about it:
https://www.amazon.com/Digital-Gold-Bitcoin-Millionaires-Reinvent/dp/006236250X
Okay, I will give it a look see.
Are they done distributing yet?
I think they are just getting started. I think it all has to be distributed by October?
I think they are about 30% of the way through distributions.
I would also like to read some! The story of MT Gox and post its hack should have been quite disastrous for some people.
I totally agree with you, this fact is something unprecedented and will surely generate many fascinating and interesting stories.
When is the movie coming out? :-) I will wait for that...
It's not just you, I'm also curious to know some stories about this event.
Maybe a refresher of the Mt. Gox saga could be posted here, anyone?
Here's the wikipedia link for a very brief refresher:
https://en.wikipedia.org/wiki/Mt._Gox
https://cointelegraph.com/news/mt-gox-3-2b-bitcoin-outflows-july-23?utm_source=bitcoinminimalist.com&utm_medium=newsletter&utm_campaign=potential-usa-btc-reserve
Not a story but an update
I'm shocked that customers are being made whole
Mt Gox was based in Japan