Quote from: envy2010 on April 24, 2014, 06:32:46 PM

Quote from: gizmoh on April 24, 2014, 10:05:41 AM

Announcement of Commencement of Bankruptcy Proceedings:
https://www.mtgox.com/img/pdf/20140424_announce_qa_en.pdf

Q. What is expected to happen under the bankruptcy proceedings?
A. The bankruptcy trustee will implement the bankruptcy proceedings, in which the assets of
the bankrupt entity will be managed and converted into cash, the investigation of the claims,
etc. will be conducted, and if funds for a distribution are secured, the liquidating distribution
will be made.

BTC will be sold for Cash, possibly via Auction or Tender, in lots.

Abundance of cheap coins, I welcome you wholeheartedly

YOU BOLDED THE WRONG WORDS. If the 200k coins are Gox assets, then Gox is not insolvent but actually +$40mil over liabilities. If the 200k coins are actually CUSTOMER assets, then they cannot be liquidated to pay Goxs debts, because they still belong to the customers. Gox is holding them for their customers, but does not OWN the coins.

This is like saying the money you put in the bank does not belong to the bank but belongs to you. Ethically this is right and is what we're led to believe, but when banks can freeze your money, or you need to tell them a reason why you're withdrawing such amount it doesn't really feel like you own that money, know I mean?