That's super interesting and unexpected that people are actually going to get their BTC or money equivalent back.
A few things that come to mind over this event are:
- Do people receive the amount they originally lost or the amount of what their BTC would be worth today had they kept them all this time?
- If it's the latter then that's crazy awesome for them, especially considering most of those people would likely have sold their BTC long ago, converted to a shit coin worth nothing today, or lost everything to a scam, forgotten wallet or accident. In some ways this situation was better for people in that it was forced savings.
- I wonder what sorts of tax implications people are going to have to deal with if they take the cash as a lump sum? They will lose a lot extra, I imagine, to taxes.
I don't know the exact answer to your question. But my guess is it will definitely be more than the fiat value they lost at the time. But can't give them back all of their coins either, because out of 700,000 lost only 200,000 were recovered. And more than 50k has been sold already. I am sure they will find some middle ground where everybody will get certain piece of the pie based on how many coins they lost.
Interesting. Given the length of time and how much BTC has increased in value it seems like people will actually come out ahead regardless or at least we'll off. I can't remember how much BTC was worth back then at the time of the event but I'm guessing it was well under the price today - a couple thousand dollars at the most I'm guessing.
You're #2 point is kind of scary.
One of the things about cryptocurrency is having financial freedom, so thinking it "good" that someone got their financial freedom taken from them, because it may have caused a gain (you don't *know that they would have sold for shitcoins) is rather against what we are building here.
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Yeah that's a good point. I guess I didn't mean that it was a good thing but more of a "silver lining" type thing. I definitely agree that taking away someone's financial freedom, or their finances or anything else really, is not a good thing.