I'd like a second opinion, I'm not sure if I get it, please correct me.
Additionally, I'm sorry if there are some spelling mistakes, it's late.
I tried searching for the PDF file regarding the way MT. Gox will repay their customers and could only find this one:
If you have a more recent version, would you please be so kind to share it with me? Thank you.
So, I ran the document I have through chatgpt and the following conversation ensued up until I ran out of time, see screenshots.
What I can understand after very quickly reading the document and after my chat with the AI is that the customer who chose to be paid in the asset and is willing to wait to be repaid after all disputes are resolved should get the following:
(Moment of post: 1 JPY = 0,0062 USD)
(Paid out in BTC or BCH)
- A. If their (CRC) Cryptocurrency Rehabilitation Claim exceeds 200.000,00 JPY, they should get 200.000,00JPY paid out in the assets.
- B. If their Cryptocurrency Rehabilitation Claim does not exceed 200.000,00JPY, they should get the total amount of assets lost.
If the asset value is higher, the surplus I believe gets paid in the following order:
- Intermediate Repayment: Any surplus beyond what’s needed for initial repayments is used here, after accounting for expenses and obligations.
- Final Repayment: If new assets are collected or raised, and there are few Disputed Rehabilitation Claims allowed, any remaining surplus goes to Final Repayment. This repayment is shared among all allowed claims, including those choosing early lump-sum repayment.
- Second Final Repayment: If there’s still a surplus after the Final Repayment and it exceeds a certain standard amount, it’s used for a second round of final repayments. This ensures fair distribution of all remaining assets among the allowed claims.
My own conclusions:
- They pay out 200.000,00 JPY or less per CRC.
- If there are few disputed CRC left, they'll chuck them a bone up to 200.000,00 JPY.
- If there's still some left after the the previous bone the chucked, they clean up the left overs again up to 200.000,00 JPY or a little more, just to clean it up.
What I can understand from recent news, the repayment period is from July to October and the amount of BTC/BCH towards customers RANGES from 65.000 BTC up to 140.000 BTC.
According to BITCOIN MAGAZINE there are 127.000 creditors, part BTC and part BCH.
They can cancel the intermediate repayments even when the dates have been set earlier for repayment.
Does this mean that all of the creditors will just get 200.000 JPY and then a portion gets whatever is left up to 400.000 JPY in the following 4 months?
If that's the case then:
- Without Int. Rep.: 200*4*127= 76.200.000.000,00JPY (472.440.000,00USD)
- With Int. Rep.: 200*3*127= 101.600.000.000,00JPY (629.920.000,00USD)
4 and 3 are the amount of times they could get repaid, I used the Base amount and the orders for the surplus.
I assumed ALL creditors only have BTC and have over at least 200.000JPY worth of CRC to see what the extreme outcome is.
This calculation is based on the believe that each creditor only has one single CRC.
Per month (4) it would be:
- Without Int. Rep.: 19.050.000.000,00JPY (118.110.000,00USD)
- With Int. Rep.: 25.400.000.000,00JPY ( 157.480.000,00USD)
These are my thoughts and my findings, if you disagree or can correct me, please do, I'd like to hear it.
Final conclusion questions:
- Another nothing burger and a ton of people will just miss out again?
- A shake out move?
- Why the 9B worth of BTC? Was this agreed upon in earlier bankruptcy years where BTC was lower and now not all the BTC is needed? What will they do if there's even more surplus?
https://preview.redd.it/2wfr1q8qiz9d1.png?554&format=png&auto=webp&s=01b5ff88ab775721124da868907636a7a61b3fc8
https://preview.redd.it/5z872t8qiz9d1.png?525&format=png&auto=webp&s=b97d39f6d7fc2de89279b78b8d970a9f74eb49f3
https://preview.redd.it/fkohir9qiz9d1.png?533&format=png&auto=webp&s=166541c61a8ddf65eef79a63d83f08ce4100505a
https://preview.redd.it/z8f55r8qiz9d1.png?548&format=png&auto=webp&s=a26b75c1b20e8bc9bbf30d1dc7464c1b3d974c7a
https://preview.redd.it/ulkniq8qiz9d1.png?549&format=png&auto=webp&s=a7aba43bcda7d51bb6882572bcb495fc035be3a7
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