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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97 sats \ 0 replies \ @Athena 25 Jul 2024
I would also like to read some! The story of MT Gox and post its hack should have been quite disastrous for some people.
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86 sats \ 6 replies \ @grayruby 25 Jul 2024
I could definitely see a book being written. It’s such a wild story.
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71 sats \ 4 replies \ @siggy47 OP 25 Jul 2024
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?
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75 sats \ 3 replies \ @grayruby 25 Jul 2024
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.
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71 sats \ 2 replies \ @siggy47 OP 25 Jul 2024
Or, he learned over the years and now won't sell.
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75 sats \ 1 reply \ @grayruby 25 Jul 2024
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.
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71 sats \ 0 replies \ @siggy47 OP 25 Jul 2024
Yeah. They have lived through a few cycles!
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50 sats \ 0 replies \ @BitcoinAbhi 25 Jul 2024
Will you attempt to write it?
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107 sats \ 2 replies \ @BitcoinAbhi 25 Jul 2024
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..
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21 sats \ 1 reply \ @siggy47 OP 25 Jul 2024
It was 2014. There were many people holding. I think bitcoin almost hit 1k in fiat price that year.
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54 sats \ 0 replies \ @Bell_curve 25 Jul 2024
https://www.in2013dollars.com/bitcoin-price-in-2013
https://www.in2013dollars.com/bitcoin-price-in-2014
https://www.in2013dollars.com/bitcoin-price
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86 sats \ 4 replies \ @Coinsreporter 25 Jul 2024
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!
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42 sats \ 3 replies \ @siggy47 OP 25 Jul 2024
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.
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54 sats \ 1 reply \ @dollarparity 25 Jul 2024
They are here, hodling quietly
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21 sats \ 0 replies \ @siggy47 OP 25 Jul 2024
The creme of the crop are.
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54 sats \ 0 replies \ @Coinsreporter 25 Jul 2024
Yupp, we can do that.
Will gladly hear some!
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75 sats \ 4 replies \ @Satosora 25 Jul 2024
Are people getting back their bitcoin or the amount it was worth at that time?
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41 sats \ 3 replies \ @siggy47 OP 25 Jul 2024
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.
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54 sats \ 2 replies \ @Satosora 25 Jul 2024
Interesting.
I thought they had a hack, how are they going to cover everyones balance?
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41 sats \ 1 reply \ @siggy47 OP 25 Jul 2024
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
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54 sats \ 0 replies \ @Satosora 25 Jul 2024
Okay, I will give it a look see.
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75 sats \ 0 replies \ @flat24 25 Jul 2024
I totally agree with you, this fact is something unprecedented and will surely generate many fascinating and interesting stories.
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75 sats \ 0 replies \ @JesseJames 25 Jul 2024
When is the movie coming out? :-) I will wait for that...
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75 sats \ 0 replies \ @0xbitcoiner 25 Jul 2024
It's not just you, I'm also curious to know some stories about this event.
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54 sats \ 0 replies \ @Bell_curve 25 Jul 2024
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
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54 sats \ 0 replies \ @Bell_curve 25 Jul 2024
I'm shocked that customers are being made whole
Mt Gox was based in Japan
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54 sats \ 1 reply \ @oliverweiss 25 Jul 2024
Maybe a refresher of the Mt. Gox saga could be posted here, anyone?
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21 sats \ 0 replies \ @siggy47 OP 25 Jul 2024
Here's the wikipedia link for a very brief refresher:
https://en.wikipedia.org/wiki/Mt._Gox
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54 sats \ 2 replies \ @OT 25 Jul 2024
Are they done distributing yet?
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131 sats \ 1 reply \ @siggy47 OP 25 Jul 2024
I think they are just getting started. I think it all has to be distributed by October?
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75 sats \ 0 replies \ @grayruby 25 Jul 2024
I think they are about 30% of the way through distributions.
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