Objective View of Mt. Gox Trustee

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The first thing to note is that in market such as this, as in the stock market, people sell and buy to serve their own interests foremost. The trustees interests are in reimbursing those who lost their money, not in serving random and unknown bitcoiners. So it makes no sense for people to get worked up over his actions or to suggest how he should proceed. Always be aware that the actions of others, especially “whales”, can affect the value of your stake. Also, the trustee seems to be succeeding in his goal of getting enough money to pay those who are owed, so calling him a “moron” (or other names) or offering him unsolicited trading advice is entirely useless.

Second, some people are complaining that those who lost should be reimbursed according to the current value of BTC and not the value at the time of the loss. That makes no sense. To see why, just consider what the situation would be if the value of a BTC was now $1. Would people be saying, “give me the $1 it is worth today instead of the $400 it was worth then”?

Third, some people seem upset that the “leftovers” will, by law, go to Kerples. That reflects poor thinking. After the creditors have been paid, who should the leftovers go to if not the shareholders?

Fourth, remember what we yell here everyday. How bitcoin is about decentralization, people being their own banks and controlling their own money, power to the people, etc. Well, act as if you believe it. If you have just realized that you don’t or can’t control the value of your money, then simply get out.

Fifth, Mt Gox did not cause the 2018 crash. What happened is that there was a drying up of the pool of suckers who rushed in at the end of 2017. That is too bad for those who had planned to be millionaires by now, but there it is. Better to accept it and live with it, instead of wildly lashing out.

I hope you find all that helpful in calming down.

submitted by /u/DrRealityAgain
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