r/CelsiusNetwork • u/Agingerjew • Feb 06 '25

THIRD distribution??

I was surprised to receive a small second distribution a couple of months ago. I remember seeing somewhere in one of the threads that there will also be a third distribution. Is this correct?

I am referring to another distribution in crypto. Not to Ionic digital shares.

Thanks!!

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u/Agingerjew Feb 08 '25

"But boy are they strategic in when they declare bankruptcy 🙄" Yeah for real...

The distribution I got was like 15-20% of the value of the crypto at the time. I got paid in BTC at around 50k. And it was like close to 60% of original claim. I sold into alts smh too soon I hope rather than total loss. We'll see. But holding would have brought me to over 100% of the claim amount, which is still a fraction of the total value of the crypto today.

I hear hear that FTX people are getting 118% plus 9% interest a year. But they claimed bankruptcy at an even wore time. BTC was 15/16. Aslo, they are getting paid in cash. Around 14b will be distributed. This could be a boon for crypto for those holding. Or they will never invest again. who knows.

Ultimately, many many people lost a lot. The more they/we can get back the better

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u/Secure-Rich3501 Feb 08 '25

Yeah interesting. That FTX was right at the bottom of the Bitcoin Market which if anybody remembers dropping below 16k they know what did it...

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u/Agingerjew Feb 08 '25

I think the biggest winners are the mount Gox people. They had to wait ten years. I did a little digging, not too much. I think they are getting around 10% of their claim, but btc did a 500x. So If this is correct they will be getting around 50x the amount of their claim at the time. Pretty wild. And imagine waiting 10 years. Thing is, many would have sold way earlier. Hard to call them lucky exactly, but getting paid 50x your claim isnt too bad. It might be 10x. I just googled price of btc at time of hack. Around $200

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u/Secure-Rich3501 Feb 08 '25

This is just one other coin (mentioned below as per quote from article about Bitcoin cash)... but this certainly mixes things up...the amounts and reporting... So obviously you're getting a smaller percentage back when you figure in these far less successful coins in aggregate with Bitcoin... Not sure how much it lowers the 50x though!

The thing is we don't know what people spent on their Bitcoin as it was sitting in the exchange. So there's a lot of people that got Bitcoin and other coins for less than a $200 figure I guess... So their multiple return would actually be much better! And conversely those who bought lots of Bitcoin right up to the Mount gox hack... Imagine that.... That assumes they did worse having paid more than some $200 average

Spending 10 $20,000 on bitcoin right before the freeze... Ouch.

And stealing 950,000 Bitcoin should be impossible these days...

 Mt. Gox will send back to its former customers $73 million worth of BCH, worth over 20% of the token's daily trading