Topic: Anyone else agree that mtgox payout is keeping bitcoin down? (Read 582 times)

When I goto the BTC chart it shows a market cap of 1,300 billion or 1.3 trillion.   So why are we especially worried when the 6 billion figure for Mt.Gox pops up.

Its alot of Bitcoin, it could have effect but we're talking about the waves instead of the tide change to BTC.  Theres bigger things to worry about, this being an election year or just normal economic fluctuations around the globe will all have more influence then the Mt.Gox sell program.

I really dont expect that much directly, its an exchange from one holder to another and someone else will want that BTC if the current holder doesnt.   Short term liquidity from a sale might move the price but its not much beyond that brief moment.


I do think a bull run is fair but its not moving so much at present or prior months.   Its still valid but we have consider its a longer term time frame then most would consider ideal.   I still imagine a sell off to 50k can happen, we'll see what hits as we move away from 'summer'.

What they are showing is not potential for anything at all, we do not know what's going to happen before anything happens. Will they give that to people, or when they do, will people sell a lot, or hold, will there be any buyers. Nothing is known, and we are just making a guess and that's why I do not think that it's a smart choice. I believe that we are going to deal with something that will not be known beforehand, we just need to realize that things will not be too simple to guess.

I believe that we are getting closer to bull run, and when we are in the bull run, it's nearly impossible for bitcoin to be dropped, even with like 100k+ being sold, all near at the same time, if we are on the bull run, price will not go down too much. For that to mean something, we need to realize that things need to get going, like we need to start the bull run before that happens. Will that happen? I am not sure, maybe mt.gox deal will start first, and we will have a crash, but we can at least recover that when the bull starts, or we could wait and maybe mt.gox will happen after the bull run starts, then we will not have any issues and the price will stay strong and will not go down at all.

yes they are, i'd be damned if they didn't because after all look at these news.



every single day they just keep releasing news about mt gox as if we the bitcoin holders need 24/7 fud sessions from all these news site!
it'd be great if we can go on 1 day without mt gox news but I guess we won't. I mean, yeah we know Mt gox gonna do repayment amounts to billion, we already know dude but these news outlet keep pumping the news as if it's the hottest thing ever.

I can across a news today, can’t remember where I saw it or neither know about the authenticity of it but it was saying that those Mt Gotz are owing have been paid about 90% of them and most of them are not willing to sell because they have seen that the bitcoin has a very big prospect ahead, so they prefer to hold rather than to sell them off. I haven’t seen a more recent crash that can be linked to Mt Gotz releasing those funds to their customers and they’re selling them out for money. The Mt Gotz payout to their customers will really have effect on the market and how the market reacts to that will only let us know more how those people have planned to do with their bitcoin, whether to sell or keep holding.

And I was surprised how resilient the market is in terms of this news. The price did go down to $64k and I said that this is it, the market might go down again because of this news. But lo and behold, market pushes or the bulls put the price on $65k++ again, and so we are up. Definitely we are in the bull run right now that's why the prices keeps on bouncing above $60k at least for this month and we are up 3.3x%.

So yeah, we might hear about the Mt. Gox coins or repayment scheme underway for this month. But it doesn't mean that we should be fearful of it. In fact, it has been dragging us for years that it's better to accept the fact that sooner or later, it might have a negative effect. However, as I have said, the market is already durable and tough, and it will not simply just go down because of this negative news.

Nothing but people not buying or people selling could keep it down. Not any news, not any elections, not trump, not biden, not mt.gox, nothing. If the market is hyped and wants to get higher then it will do that, even at the face of everything. Let alone the "news" of a payout, the actual payout itself, even for 100k+ bitcoins being on the market and even being sold all at the same time, if we are on a bull run, the retail investor and the big whales would eat that up like its nothing and spit it back out. There has been plenty of situations like that, many whales sold tens of thousands of bitcoins all at once, and many bad news happened, and during bull period we still got higher, so don't worry and wait for the bull run.

For those who have been on this market for a while now is already that numb when it comes into these kind of unexpected news or events specially on negative ones on which you could really be able to say into yourself that it could probably making out some negative effect or simply make the market goes down considering that on the coins that we are talking on here is really that something significant or simply getting tied with that Mt.Gox payout or something similar as this. As a crypto enthusiast then it would be always that best that you should really be having that behavior on trying out to expect the unexpected as always.
You wont really be finding yourself to be that stressful on the time or moment you would be able to encounter to such unexpected events on which it could driven out the market price down.


They can sell all they want or whatever decisions that they would really be making because there's always those people or investors who would really be loving
on catching up those cheap prices or simply on the time that the market would really be on correction state because of such events. MArket dips and crashes are inevitable
and only to those who are wise and have experience would really be seeing these things to be buying opportunities. 

I wouldn't say it is keeping it down, but I would say that it may cause a little discomfort for people as well. Remember, if we wanted to go berzerk and go up, then even that much coins wouldn't be able to hold us, it is going to be quite near impossible for any amount really, unless it's all sold off at once, and even then we will fall and then recover, so it is not like a big deal at all for any of us.

We should consider the fact that we are going to end up with a solution to all of this, if only we end up with doing what we know how to do; which is holding. It is a simple method, and you just need to wait for all of this to blow over, after that it will get better, plus we are at the summer period now, so it is not really expected to go up just yet, we are going to wait for summer to end but after that ends, we may start the bull run.

What Mt.Gox is showing right now is a potential for a drop, that part is true, having a lot of sellers, but if we could just turn this into a bull market, then sellers will not matter because there will be enough buyers that will cover the difference, so we need to know what we can do to help with the situation at the moment, so we can get a better result in the end.

The payout has already begun. SBI and Bitbank have returned the MTgox bitcoin to their creditors. The market has not felt an impact yet. Even bitcoin is always moving upward otherwise.

I can't really trust this news. But, it gives us a small insight. It shows that not all MTgox creditors intend to dump their BTC.



Time factor also affects the impact. I believe not all creditors are dumping thousands of BTC at once, as the German government did so.

The payout is near.

Defunct crypto exchange Mt Gox sent nearly 47,229 BTC to another address late Thursday. 3,141,563,389 USD at current price.

The Japanese trustee acting on behalf of Mt. Gox, Nobuaki Kobayashi, holds approximately 142,000 bitcoin, 9,4B USD at current price.

No one wants any exchange to go bankrupt because no one wants to lose money. But it's an open market, and there's no regulation, so there's nothing we can do when companies go bankrupt. When participating in this market, we should have calculations as well as be ready to accept risks if it happens. The cryptocurrency market is a market of greed, of scams, so I never get upset when many people think it's a scam.

As for Mt.gox, I think people should stop expecting, what they are doing shows that they don't want to give money back, they are just buying time to make people despair and give up.

This is why FTX should of never went the bankruptcy route. They should of just given everybody a 50% haircut, make them sign some agreement similar to what Bitfinex wrote when they got hacked and most people would take the 50% now than wait 10 year to get 50% which after inflation will be worth 25%.

It’s crazy why they keep delaying this. I understand that they want everybody to claim it but they can at least start paying out the people who have been waiting almost a decade for their coins. Keep the rest in the trust until people start to register for new claims.

In my opinion, the most important factor that made bitcoin prices decrease was the occurrence of scam cases, the last fact is FTX which caused panic because more than $ 3 billion in money was frozen and could not be withdrawn, but after almost 4 months of the FTX case, the market is now slowly starting to recover even though it is not significant, we see if in June the price can touch $ 30k or not.

Silicon Valley bank collapse had nothing to do with crypto. I think the bank had just been doing poorly for a while and then a few days ago I guess they announced they'd sell a bunch of stock to get back to like doing well but this caused people to panic and sell so their stock price crashed and then there was a run on the bank to get money out and the govt came in to shut the bank down to stop further negative effects. Something like that. It only affected crypto because Circle was holding a few billions dollars of the USDC reserves in the bank. But otherwise it has nothing to do with crypto.

As long as USDC repegs its all good (hopefully Circle has their USD in banks insured), as that bank going down was outside of the crypto market. Though it does spell trouble for the larger economy because I guess that bank was a big lender to the tech industry. I think I saw Jim Cramer say that Silicon Valley Bank's collapse could actually put a stop to the FED raising interest rates because the FED will be worried about economic contagion spreading from that collapse and so the FED might back off trying to forcibly slow the economy down. That would be a nice thing for Bitcoin haha, since higher interest raises are keeping investors afraid.



But yeah I agree Mt Gox is a non-issue for now. There's several more impactful things that have happened in the past week that have caused the market to go down. If the USDC issue can get cleared up soon and it repegs things should be looking fine for Bitcoin and Crypto as long as the Silicon Valley Bank collapse doesn't lead to more things in the US economy failing.

Voyager is currently liquidating assets and that'll end soon. The news or rumor that the US govt sent a billion dollars of bitcoin to Coinbase to presumably sell will disappear as we move on to the next news cycle. The Silvergate collapse will also fade as we move onto the next couple news cycles in the coming weeks. Mt Gox is a non-issue until I guess October which is when they moved it back to. If USDC recovers and if the FED only raises interest rates by 25 points this month because of worries about Silicon Valley Bank instead of what had been looking more likely recently to be a 50 point raise, the bitcoin/crypto market should have found its bottom and start heading back towards where it was last month.

It is clear that Mt Gox has had a major impact on the Bitcoin market. This impact has not only been recognized on this platform, but also by many cryptocurrency experts who link the drop in Bitcoin prices, as well as other cryptocurrencies, to this payout.

While the market impact was expected, it came at a bad time as it happened during a time of recovery.

However, since the payout is not an ongoing event, it would be wise to deal with it once and for all to ensure a seamless experience during the next market boom.

I think the people who do not want bitcoin to succeed are people who are doing very well with fiat world we live in. That's who "they" are, I can't name any person, but that's basically a whole group, that's basically an "understanding", like no rich person needs to go to media station they own and tell them to say bad things about bitcoin, that media company already knows what's good for their owner and act accordingly, if fiat helps them and bitcoin hurts them, the media company will say bad things about bitcoin all the time, no need for the owner to come down and say something. So whoever is hurt by bitcoin being great, is the one who keeps it low.

MtGox is just the tip of the iceberg that slowing down Bitcoin growth. It all started when the FTX crash that drag down all the companies that has exposure on it. The effect of this huge scandal is massive and some company like silicon valley and silvergate bank are the recent downfall. USDC is now being depegged due to this banks that recently collapse. Guess what will happened next when USDC totally collapse? There’s a lot of crypto companies that exposed to USDC which will dragged down more the Bitcoin price.

MtGox and Fed hikes is just a minor FUD compared to what’s coming in crypto when USDC collapse along with the banks and crypto companies that has a reserve funds in USDC. Don’t give a lot of credits to Mtgox for Bitcoin slow down. Something big is trying to manipulate the crypto by killing those big players one by one.

You're right about seizing the opportunity that happens instead of people making themselves panic about the bearish market that's inevitable to happen after Mt Gox BTC disbursement. However, you seem to miss the fact that I am not panicky about the market's bearish condition, and if you ask me I will tell you that I am one of the BTC enthusiasts that like the bearish market more than bullish due to the quantity of BTC that will be made available in the market.

The results aren't too surprising, they've been doing it for years, so it's pretty much anyone's guess that they're continuing to move the date. I've never been afraid of bitcoin being dumped because it's a good thing for long-term investors like me, I can buy bitcoins at a low price. So I was hoping they would release that bitcoin, partly to help the victims of that year get their money back, partly to make bitcoin cheap, but in the end, it didn't happen.

No wonder Mt.gox continues to delay and delay the release of bitcoins to victims. I can't even remember how many times they broke their promise to their investors, they were playing cat and mouse. They don't want to pay anyone, which is a huge amount compared to the current bitcoin price.

To me, Fed is still the biggest shark in the financial market, centralized or decentralized bitcoin; they never care and can dictate bitcoins move at will.