Anyone else agree that mtgox payout is keeping bitcoin down? - page 4.

NeuroticFish

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

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.

...So you're looking to recruit a gang to spread some drama on this topic/subject?

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

To me it seems mostly everyone says its a non-issue.

In the past few years, every few months there was a news about Mt Gox bitcoins about to flood the market soon^TM. Indeed, that made me wary.. first 2 times. Now I see it as a non issue. If will ever get released and if too many people will be dumb enough to dump their coins at this rather low price (since we're just after the crypto winter), so be it. But I think that it's rather unlikely. Hence I'm one from the "non-issue" group.

_BlackStar

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Why don't you want to continue the discussion about Mt. Gox in this thread: https://bitcointalksearch.org/topic/mt-gox-will-release-bitcoin-in-march-whats-next-5441733.

I think it's only natural that most people have ignored about bitcoin Mt.Gox so far, it's because of there were many delays and failures they've had over the years. I'm not even sure when it will actually be distributed, but of course the market is sure to turn into dump if creditors manage to get their hands on the bitcoin. But don't worry, this is an issue that may only be FUD for some time so you can invest at a lower price.

edward500

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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'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.

Topic: Anyone else agree that mtgox payout is keeping bitcoin down? - page 4. (Read 566 times)