Mt. Gox Repayment amidst Bitcoin Decline - page 2.

Lucius

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Quote from: btc78 on July 09, 2024, 01:12:02 AM

~snip~
Additionally, Germany have also sold a huge chunk of their seized bitcoin in an operation against a piracy site last active almost over a decade ago. The exact reason why is unclear however many suspects that Germany is trying to liquidate the Bitcoins they hold to stabilize their economy. Despite a huge sell out, Germany still holds almost 30,000 bitcoins.

Poor Germans, what has their economy fallen to when they depend on the $3 billion they will get when they sell BTC. I hope that Scholz will have enough for his summer vacation, and that Ursula von der Leyen will also get her share of the cake so that she can buy herself that 5000 EUR purse and a new bathing suit so that she can show off on the beach in an exclusive resort on the Cote d'Azur Roll Eyes

Some people really live in a fairy tale world and believe everything they read...

Apocollapse

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Honestly they sell very small amount that what they have, they only sold 1,5K from 140K coins, 1,5K Bitcoin worth $85 Million, while average 24 hours Bitcoin volume is 580K coins or worth $33 Billion. So, Mt.Gox sold their coins almost give no effect to the market, but the paper hands and medias make it's really a very important event, that's why Bitcoin touched $52K.

Germany isn't only sell Bitcoin, they also buy some. In short, they're trading Bitcoin, is there anything wrong to trade Bitcoin?

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Quote from: btc78 on July 09, 2024, 01:12:02 AM

These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.

The market always has bulls and bears so it is not surprising that many people panic and sell with this series of news while many people want to own bitcoin so this is an opportunity for them to buy at a discount better.
Additionally, Fud is already a part of the market and it will become more and more dense each time the real bull season is approaching. So those who are selling will soon regret it and those who take advantage of this opportunity will deserve a bigger reward.
Personally, I really don't care about this type of news because I'm a long-term investor and only buy more, not sell if I haven't reached my goal.

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Quote from: btc78 on July 09, 2024, 01:12:02 AM

Mt. Gox has started repayments in Bitcoin and Bitcoin Cash. It is not specified just exactly how much have been distributed and how much there is left however the decline of price of Bitcoin these previous days can be attributed back to this.

Additionally, Germany have also sold a huge chunk of their seized bitcoin in an operation against a piracy site last active almost over a decade ago. The exact reason why is unclear however many suspects that Germany is trying to liquidate the Bitcoins they hold to stabilize their economy. Despite a huge sell out, Germany still holds almost 30,000 bitcoins.

These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.

Where did you get the information that Germany sold its bitcoins? If I'm not mistaken, they just moved a small amount of them to several exchanges, but hasn't sold them yet. The same goes for Mt Gox, are you sure they have started paying out? The market definitely picked up this news, and Bitcoin reacted with a fall, but if there is a seller on the market, then there will also be a buyer who will buy these volumes. I think the bull market is not over yet, and even if this is true and Mt Gox finally pays out, then this long story will finally be over and they will no longer have leverage over Bitcoin prices when they were able to manipulate this news every time.

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Hmm I don't think we can attribute the market to Gox. It's old speculation, and doesn't work anymore. I previously wrote about how deep the liquidity is already so even 1000 BTC dropped in a single order won't affect the market, trust me.

In fact, any sales should already be predone. All the BTC is ready, they are sending it out already, most likely even offchain if all agreed parties have custodials (which they surely do).

Doubt these people waiting and getting repayments are dumping all at once.

Why would 'investors' fear? If they knew it's Gox + Germany selling causing the 'dump', then they have nothing to fear.

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Quote from: hd49728 on July 09, 2024, 01:36:09 AM

Quote from: m2017 on July 09, 2024, 01:31:06 AM

There could not have been so many distraught investors selling their bitcoin in fear, because the greatest pressure on the cryptocurrency market could have been exerted by these two events: bitcoin sale by Germany and Mt.Gox users. The increased supply of bitcoin in the cryptocurrency market inevitably leads to a fall in value.

They are newbie investors and I don't argue to say they are not investors but let's say amateur investors.

A more proper term to call these people is "speculators", not actual "investors" but if you tell them that they are not investors, but only speculators, they will disagree with you.

Disagree or agree with you, calling them as speculators, it's not matter because they in reality don't react like investors, but panic sell like speculators who see their greedy bets fail and panic exit the market.

Anyone still caught up in panic selling their btc whenever the market shows a sign of dip is either not paying attention or haven't leant anything from all the events surrounding btc price movement.
I think the hardest part of the Mt.Gox victims is already over, they all have or will soon have their btc in their personal possession so what is the need to sell off in a hurry when you have the power to decide when to sell now.
Despite years of being in this space, there will always be those type of investors that are not sure of their investment, they panic sell at any given negative news.

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Quote from: m2017 on July 09, 2024, 01:31:06 AM

There could not have been so many distraught investors selling their bitcoin in fear, because the greatest pressure on the cryptocurrency market could have been exerted by these two events: bitcoin sale by Germany and Mt.Gox users. The increased supply of bitcoin in the cryptocurrency market inevitably leads to a fall in value.

They are newbie investors and I don't argue to say they are not investors but let's say amateur investors.

A more proper term to call these people is "speculators", not actual "investors" but if you tell them that they are not investors, but only speculators, they will disagree with you.

Disagree or agree with you, calling them as speculators, it's not matter because they in reality don't react like investors, but panic sell like speculators who see their greedy bets fail and panic exit the market.

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Quote from: btc78 on July 09, 2024, 01:12:02 AM

These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.

There could not have been so many distraught investors selling their bitcoin in fear, because the greatest pressure on the cryptocurrency market could have been exerted by these two events: bitcoin sale by Germany and Mt.Gox users. The increased supply of bitcoin in the cryptocurrency market inevitably leads to a fall in value. This is a classic law of economics, the swing of supply and demand. Former users of Mt.Gox can't be called distraught investors, because their money was frozen for many years and their desire to sell bitcoin is now completely justified. Plus, not all of them will sell all of their bitcoin. Having seen the results of a long hold, some users will certainly leave some part of bitcoin for storage.

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I think the amount of coins given to Mt Gox users is still very small and not up to 5% yet. It was said that the distribution will take 3 months.

Quote from: btc78 on July 09, 2024, 01:12:02 AM

These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.

Do not just think that the bear market is over yet. I saw on some news that the bottom as been reach but which I do not believe yet. It is better you DCA than to buy at ones.

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Quote from: btc78 on July 09, 2024, 01:12:02 AM

Mt. Gox has started repayments in Bitcoin and Bitcoin Cash. It is not specified just exactly how much have been distributed and how much there is left however the decline of price of Bitcoin these previous days can be attributed back to this.

It is panic only and the market can absorb it well, immediately or gradually depends on the selling pressure from Mt.Gox.

Is big selling pressure good for Bitcoin investors who have been waiting for many months to get discount bitcoin?
Now they are given great opportunities that will be taken by intelligent and experienced investors.

I know with newbies, greed traders who use leverages, futures surely don't like this uncertain and chaotic week. They are not prepared for chaos in the market and face with margin calls, forced liquidations that make them sad and panic.

Quote

Additionally, Germany have also sold a huge chunk of their seized bitcoin in an operation against a piracy site last active almost over a decade ago. The exact reason why is unclear however many suspects that Germany is trying to liquidate the Bitcoins they hold to stabilize their economy.

Bitcoin market cap is small and if we compare it to economical size of any big nation, it is very smaller. Selling bitcoins to stabilize a national economy of Germany, one of biggest national economies, is unrealistic.

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Mt. Gox has started repayments in Bitcoin and Bitcoin Cash. It is not specified just exactly how much have been distributed and how much there is left however the decline of price of Bitcoin these previous days can be attributed back to this.

Additionally, Germany have also sold a huge chunk of their seized bitcoin in an operation against a piracy site last active almost over a decade ago. The exact reason why is unclear however many suspects that Germany is trying to liquidate the Bitcoins they hold to stabilize their economy. Despite a huge sell out, Germany still holds almost 30,000 bitcoins.

These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.

Topic: Mt. Gox Repayment amidst Bitcoin Decline - page 2. (Read 326 times)