View Single Post
Old 02-28-2014, 05:23 PM  
AsianDivaGirlsWebDude
Purveyor, Fine Asian Porn
 
AsianDivaGirlsWebDude's Avatar
 
Industry Role:
Join Date: Jul 2004
Location: San Francisco Bay Area
Posts: 38,323


Sounds like the actual loss to the Mt Gox bitcoin holders impacted by the Mt Gox bankruptcy, and the subsequent public disclosure about the 750k lost bitcoins (fucked up enough), will be a lot less than the $468 million being bandied about by the press (they like to go with the largest most sensational figure).

$468 million was arrived at by multiplying the "current" value of bitcoin, and not the price which people actually paid for their bitcoins initially, which is all that they had to hard lose (the rest is unrealized value).

It still sucks, but the actual exposure from this debacle from what I've been reading is more like $110 million (and about a fifth or more of the lost coins supposedly belonged to the owners of Mt Gox themselves - which makes it even more amazing they didn't catch the problem as it was occuring).



Still a lot of unanswered questions about Mt Gox and Bitcoins.



ADG
AsianDivaGirlsWebDude is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote