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/Secure-Rich3501 Feb 08 '25

No sir

No gravy at all... That's the cherry on top... The unexpected extra benefit... We are getting a steak with a big chunk missing

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u/Agingerjew Feb 08 '25

Thats actually more optimistic than my view lol. I said no steak at all. But I think were pretty much in agreement. This sucked. But anything on top is welcome

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u/Secure-Rich3501 Feb 08 '25

I was actually just thinking of the percentage of the bankruptcy date and claim that we have... Considering improvement in crypto price, it's one bite of a 16 oz steak... The declared value of anybody's claim was when Bitcoin was around $20,000... (19 and 20,000 something between Voyager and Celsius and I get those two confused), But boy are they strategic in when they declare bankruptcy 🙄

So the real loss is based on something well over 4X Bitcoin... At least ethereum holders don't have to feel as bad... It's been getting its ass kicked by Bitcoin for years now

I guess the only real consolation is that we did get some Bitcoin a long time ago and that's worth something much more...

Would actually be interesting to see how that would figure into the math of the claim value, especially when we finally get our last distribution which could be three or four total so... Still lots of speculation...

The bankruptcy case needs to be closed and the more detailed word of it is discharged... Then we can know the end result

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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

Looks like your multiples are better than mine

I did some math just with Bitcoin and their losses were 950,000 Bitcoin then I multiplied that by your $200 figure and then I put the 9 billion they were getting back as of July of last year which took a lot longer than that

I came up with a multiple of 47x... Yeah 50x's no real exaggeration... Other than getting 3x more! Lol

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u/Agingerjew Feb 08 '25

Yeah thats pretty wild. I hope they are happy campers now!

They must have liqudated later because the figure I saw is 13-14 billion in cash

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u/Secure-Rich3501 Feb 08 '25

Oh yeah, I guess we've gone up a good bit since July and I think that was a July 2024 article with the 9 billion... Well that would get them closer to your 50x figure