Anyone else agree that mtgox payout is keeping bitcoin down? - page 2.

vapourminer

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what is this "brake pedal" you speak of?

Quote from: adaseb on March 09, 2023, 01:34:38 AM

Still getting mixed reports about MtGox. Many are speculating it will get delayed again and payouts for later in the year.

i just noticed the deadline for registering accounts needed for payout has been extended again.. from 10 MAR to 06 APR. at least thats what the mtgox site now says. havent seen anything else but im not looking too hard either.

adaseb

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Apparently MtGox is not the only one we need to worry about. The Silk Road coins are on the move by the US government. There is 40K BTC and 10K was already sent to Coinbase. Most likely they will be doing some twap and in a few days or weeks they will send the rest.

Still getting mixed reports about MtGox. Many are speculating it will get delayed again and payouts for later in the year.

retreat

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Quote from: edward500 on March 05, 2023, 12:56:11 PM

-snip-

I'm looking for anyone who agrees with me that this is probably causing the bitcoin price to be held back at the moment until this gets worked out. To me it seems mostly everyone says its a non-issue.

I think that the payout made by Mt.Gox does not really have a significant impact on the overall crypto market, because we know that the Bitcoin market is around $1.2 trillion USD and that is quite a large number while the payout made by Mt.Gox has so far been 156,000 BTC is about $524 million USD. And also it is done periodically, not done at one time, because Mt.gox also does not have enough funds to be able to pay out to creditors according to the amount of Bitcoin lost - they have limited funds and also estimate various factors not to payout in the amount big in such a short time.

suzanne5223

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There are a lot of things that impact the downtrend of the market price but believe it or not, there's nothing you can do about the Mt Gox payout leading to the market bearish than making use of the advantage it presented the people who have their Bitcoin stuck to the Mt Gox have to get their funds back sooner or later.

fzkto

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Quote from: $crypto$ on March 08, 2023, 01:32:56 PM

Quote from: Oceat on March 06, 2023, 06:35:04 PM

I'm not certain with that but why bother though when you can get advantage of the market? So far, I believe it's the FUD that's making the price go back to dip again but on the other hand, it's what we needed if we want Bitcoin to grow even more. That's why they always say, Bitcoin is best to hodl for a long time. If you can do that then rejoice if Bitcoin make a rise after a long time of staying in the bottom.

But anyway, why is mtgox always showing up every time if there's a FUD?

We do not know the flow of MTGOX where Bitcoin is sold at once or for those who receive it holding it, there is no concrete data anymore, but what is clear with FUD cannot be separated will always be in the distribution or news that concerns several agencies The problem is very reasonable some panic and sell while I believe from them there are still those who survive for Bitcoin.

In theory, it is true that we actually benefit when the price of Bitcoin is low we can buy more, while what is expected when Bitcoin goes down besides buying?
Remember FUD will not disappear and it will be attached to some bad news.

I think this news about Mt Gox bitcoins having a negative impact on bitcoin price is greatly exaggerated. I think that even if all 185k bitcoins are sold at one time, the market will recover from that very quickly. But I am sure that they won't sell out all at once and that bitcoin transaction will stretch out for a long time. And many of those people will not sell bitcoins all at once.

$crypto$

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Quote from: Oceat on March 06, 2023, 06:35:04 PM

I'm not certain with that but why bother though when you can get advantage of the market? So far, I believe it's the FUD that's making the price go back to dip again but on the other hand, it's what we needed if we want Bitcoin to grow even more. That's why they always say, Bitcoin is best to hodl for a long time. If you can do that then rejoice if Bitcoin make a rise after a long time of staying in the bottom.

But anyway, why is mtgox always showing up every time if there's a FUD?

We do not know the flow of MTGOX where Bitcoin is sold at once or for those who receive it holding it, there is no concrete data anymore, but what is clear with FUD cannot be separated will always be in the distribution or news that concerns several agencies The problem is very reasonable some panic and sell while I believe from them there are still those who survive for Bitcoin.

In theory, it is true that we actually benefit when the price of Bitcoin is low we can buy more, while what is expected when Bitcoin goes down besides buying?
Remember FUD will not disappear and it will be attached to some bad news.

livingfree

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Quote from: Lanatsa on March 07, 2023, 06:10:45 PM

Quote from: livingfree on March 07, 2023, 05:06:40 PM

Yeah, that's possible.

But that is if that's all I've got remaining or I just want to quit with this thing and have been waiting for too long. Someone who's annoyed with the situation will just to sell it and don't want to wait for something else to happen so, that's what I'll do then.

You're right with it that it's not everybody who's going to sell and there will be for sure folks that will keep it and the value of it has gotten higher than when the debacle has happened to mt gox.

Its either they would really be selling out directly or would really be still holding until to the future years but considering on how many times fold on they do able to gain up with that Mt.Gox incident
then it is really that likely that they would really be that selling out instantly on the time that they do get a hold of those coins. For sure that most of them werent been expecting that
those coins would really be given back after all the years which do ends up that most of them lose up hope on recovery and now things becomes even more better
as there are hints that it will really be that giving back to its users.

Either of the two.

But if you're going to put yourself in their shoe, there's a bigger chance that you've waited this for so long and you just want to get away with it taking out with the cash happily.

Though the small chance is that these are real bitcoin folks that have never gone away with the market and anything that's going to be received by them will be good as another investment to be held until the next bull cycle.

Lanatsa

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Quote from: livingfree on March 07, 2023, 05:06:40 PM

Quote from: OgNasty on March 06, 2023, 05:12:59 PM

Quote from: livingfree on March 06, 2023, 11:31:43 AM

Honestly if I am one of those victims that have been waiting for my funds to get refunded and then I've received it, without any doubt that I'll spend it like there's no tomorrow so I'll totally sell all of it and if not all, then a large part of it.

Whatever is the reason with the sudden falling of bitcoin's price. Let's appreciate also the reasons why it has been up coming from the lowest that it had after the bull run of 2021 which made bitcoin $16k.

Every time we don't like the movement of the market, we're thinking a lot of things and that's no good for our own cause because it will just create a panic attack if you keep thinking about it.

I think it depends on the victim’s situation. There really isn’t a difference between having funds held by the gox bankruptcy and cold storage. Except the declining amount as a result of lawyers being paid. I imagine a lot of those victims stayed in Bitcoin and probably have other BTC they could sell if they wanted. I’m sure there are a couple whales who will dump but not everybody.

Yeah, that's possible.

But that is if that's all I've got remaining or I just want to quit with this thing and have been waiting for too long. Someone who's annoyed with the situation will just to sell it and don't want to wait for something else to happen so, that's what I'll do then.

You're right with it that it's not everybody who's going to sell and there will be for sure folks that will keep it and the value of it has gotten higher than when the debacle has happened to mt gox.

Its either they would really be selling out directly or would really be still holding until to the future years but considering on how many times fold on they do able to gain up with that Mt.Gox incident
then it is really that likely that they would really be that selling out instantly on the time that they do get a hold of those coins. For sure that most of them werent been expecting that
those coins would really be given back after all the years which do ends up that most of them lose up hope on recovery and now things becomes even more better
as there are hints that it will really be that giving back to its users.

adaseb

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I think if we were at or near ATHs then I can see many of the MtGox creditors selling everything. However we are near lows and I am pretty sure most don't want to sell their entire stash at this level. They probably think BTC will go higher in the near future and they will hold, so they will sell but slowly.

The ones that will sell right away are probably people who need it urgently. They might have some debts or want to buy a house and obviously its the smart thing to do. But doesn't mean everyone will sell at once.

livingfree

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Quote from: OgNasty on March 06, 2023, 05:12:59 PM

Quote from: livingfree on March 06, 2023, 11:31:43 AM

Honestly if I am one of those victims that have been waiting for my funds to get refunded and then I've received it, without any doubt that I'll spend it like there's no tomorrow so I'll totally sell all of it and if not all, then a large part of it.

Whatever is the reason with the sudden falling of bitcoin's price. Let's appreciate also the reasons why it has been up coming from the lowest that it had after the bull run of 2021 which made bitcoin $16k.

Every time we don't like the movement of the market, we're thinking a lot of things and that's no good for our own cause because it will just create a panic attack if you keep thinking about it.

I think it depends on the victim’s situation. There really isn’t a difference between having funds held by the gox bankruptcy and cold storage. Except the declining amount as a result of lawyers being paid. I imagine a lot of those victims stayed in Bitcoin and probably have other BTC they could sell if they wanted. I’m sure there are a couple whales who will dump but not everybody.

Yeah, that's possible.

But that is if that's all I've got remaining or I just want to quit with this thing and have been waiting for too long. Someone who's annoyed with the situation will just to sell it and don't want to wait for something else to happen so, that's what I'll do then.

You're right with it that it's not everybody who's going to sell and there will be for sure folks that will keep it and the value of it has gotten higher than when the debacle has happened to mt gox.

Oceat

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I'm not certain with that but why bother though when you can get advantage of the market? So far, I believe it's the FUD that's making the price go back to dip again but on the other hand, it's what we needed if we want Bitcoin to grow even more. That's why they always say, Bitcoin is best to hodl for a long time. If you can do that then rejoice if Bitcoin make a rise after a long time of staying in the bottom.

But anyway, why is mtgox always showing up every time if there's a FUD?

o48o

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Quote from: edward500 on March 05, 2023, 12:56:11 PM

I know most people downplay the Mt Gox payout and most will say it will have no bearing on the price. This is why I am curious if anyone actually thinks this is keeping the bitcoin price down.

When Mt Gox payout goes into effect, they will sell a lot of bitcoin to get the cash needed for the claimants who wanted fiat instead of bitcoin. This will be a huge amount of coins hitting the market. Then you have all the bitcoin being sent to everyone, will they cash in those bitcoins for cash?

This adds huge risk into the price, nobody really knows what this is going to do and you can only speculate. Will Mt Gox sell all of these bitcoins in a day and crash the market? Who knows what could happen.

This causes a a lot of uncertainty, why invest in bitcoin when there could be a huge amount of coins hitting the market. Better to just wait for the payouts to happen after March 10th and see how it goes.

I totally get why people wouldn't buy now.

It's like invert version of sell the news event, where people are afraid to buy the news (in inverse). And as the fear is priced in it won't drop either.

Meaning that we most likely we start to move up rather then down right after people get their btc back. Some people will sell their bitcoins as they have waited for so long, but i trust there will be ton of money ready to buy as people are just waiting the price to drop. When it doesn't drop enough, people will slowly start to buy it back up.

BenCodie

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To this day I am unsure how many times anyone has actually gotten anything in comparison to the media just using the very well-known Mt Gox situation to scare people into believing that a huge sell-off is imminent. Is there any actual on-chain evidence to prove that a repayment fund is being accumulated or can be sent from those who are representing Mt Gox and conducting the refund?

I bet we all can't wait for the day that the payments are finally sent out and we don't even have to worry about this news holding BTC back again...I know I can't.

carlfebz2

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Quote from: OgNasty on March 06, 2023, 05:12:59 PM

Quote from: livingfree on March 06, 2023, 11:31:43 AM

Honestly if I am one of those victims that have been waiting for my funds to get refunded and then I've received it, without any doubt that I'll spend it like there's no tomorrow so I'll totally sell all of it and if not all, then a large part of it.

Whatever is the reason with the sudden falling of bitcoin's price. Let's appreciate also the reasons why it has been up coming from the lowest that it had after the bull run of 2021 which made bitcoin $16k.

Every time we don't like the movement of the market, we're thinking a lot of things and that's no good for our own cause because it will just create a panic attack if you keep thinking about it.

I think it depends on the victim’s situation. There really isn’t a difference between having funds held by the gox bankruptcy and cold storage. Except the declining amount as a result of lawyers being paid. I imagine a lot of those victims stayed in Bitcoin and probably have other BTC they could sell if they wanted. I’m sure there are a couple whales who will dump but not everybody.

If we do look about into those amounts then it is really that lucky that they are really returning victims or users funds in half in btc and half in fiat which i could consider that it did really lessen out the risk on

making the market do crash out specially with Bitcoin.Although it wont really be that much in a concern because no matter how hard we do crash there's always a recovery.

This is not really that shocking anymore if we do speak about negative news or fundamentals because the market could neither affect it out or not.
If ever it crashes then there are lots of people on the community and investors would really be catching out on that bottom.

OgNasty

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Quote from: livingfree on March 06, 2023, 11:31:43 AM

Honestly if I am one of those victims that have been waiting for my funds to get refunded and then I've received it, without any doubt that I'll spend it like there's no tomorrow so I'll totally sell all of it and if not all, then a large part of it.

Whatever is the reason with the sudden falling of bitcoin's price. Let's appreciate also the reasons why it has been up coming from the lowest that it had after the bull run of 2021 which made bitcoin $16k.

Every time we don't like the movement of the market, we're thinking a lot of things and that's no good for our own cause because it will just create a panic attack if you keep thinking about it.

I think it depends on the victim’s situation. There really isn’t a difference between having funds held by the gox bankruptcy and cold storage. Except the declining amount as a result of lawyers being paid. I imagine a lot of those victims stayed in Bitcoin and probably have other BTC they could sell if they wanted. I’m sure there are a couple whales who will dump but not everybody.

el kaka22

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Disagree. Mt.Gox payment is nothing compared to the market, it is people that keep the bitcoin price down and it will always be people who keep it down. There is no scenario where something as small as this payout could ever keep bitcoin down, there will be a lot of people who think like that, and they will suspect this to be bigger than what it is today, but the reality is that bitcoin is much larger and it can't be kept down by something so insignificant.

I believe that people are just not that much into it at this moment and they can't see it growing just yet and that is why they are not buying right now and that is the main reason why it is not growing at this moment.

livingfree

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Honestly if I am one of those victims that have been waiting for my funds to get refunded and then I've received it, without any doubt that I'll spend it like there's no tomorrow so I'll totally sell all of it and if not all, then a large part of it.

Whatever is the reason with the sudden falling of bitcoin's price. Let's appreciate also the reasons why it has been up coming from the lowest that it had after the bull run of 2021 which made bitcoin $16k.

Every time we don't like the movement of the market, we're thinking a lot of things and that's no good for our own cause because it will just create a panic attack if you keep thinking about it.

bettercrypto

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For long term holders of bitcoin who are willing to hold it for a few years, they don't care if its value drops now in the market. The only ones affected by such scenarios are those who are not yet deeply involved in the Bitcoin industry.

Now, for scalpers this is an opportunity for them to buy bitcoin again in a short period of time because they know the movement in the crypto market. So for me what you say is irrelevant op.

CoinEraser

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I also think the current price has nothing to do with MTGox. As I have written before, the amount that is paid out is not so high that it can drive the market price down. Also, I assume that even if people get their Bitcoins back, they won't all be sold at once. There will certainly be enough people who will continue to hold their Bitcoins and wait for a new ATH.

Beparanf

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The current price slow down is due to the major resistance that keeps blocking the uptrend movement. I think MtGox news is not yet being use as FUD on current times because the price dip will be more insane than the current price setback.

Also MtGox token will be distribute in parts so their Bitcoin will not gonna give huge impact on the price unless it will be used to create a FUD among the crypto pips on the social nevertheless it’s not a big deal to cause huge dump or slow down the trend.

Topic: Anyone else agree that mtgox payout is keeping bitcoin down? - page 2. (Read 347 times)