Topic: Mt Gox Trustee has 160K more BTC - tool to follow if more cold wallets thawed! (Read 245 times)

Ah yes I know. It was just a cool idea I had. Given how much power he currently has with the FUD in the market he could make himself a few extra bucks by doing just that. He wouldn't have to sell a single coin from those wallets. Let's hope Karpeles sells his in a different manner or that they get locked up somehow.

He sold sufficient amounts to meet the Mt Gox liaabilities as defined by the Japanese courts. He doesn't need to sell any more - I think under Japanese law, the rest of the coins belong to Karpeles.

I'm sure it is gonna be 'taxed' as income by the Japanese Gov't on the sale. Even 'illegal' funds are taxed, or at least so in the USA, (that is how they got John Dillinger)...

might not be a lot, if based on 2014 BTC prices...but still ..this is a liguidation by the government for fraud...so I'm pretty sure they are gonna get their pound of flesh too.

Where does it say that the government will get paid a chunk from that BTC stack?

In any case, my point is that the people involved in the loss of the Bitcoins, including Mark Karpeles and associates, should simply have a transaction of the same amount of BTC lost at that date, back into an address they control, in other words, they should get their coins back, without selling them.

I don't see why the government has to get any money out of that stack, and if they do, don't do it at the expense of ruining the victims, take it from Karpeles' stack.

But IF they did not SELL them all to USD...then the lawyers and the Japanese government could not get paid! (most bang for the buck..2 years of legal action...piecing  out the coin

at whatever the law firm charges per hour) it is to the trustee advantage maybe TO wait until fall or longer on getting this resolved..more fees and more $$$.

(I wish)

brad

Oh well, I just realized that Mark Karpeles can't get his 88% (and the rest of MtGox shareholders get their stack too) unless Kobayashi sells it first on the USD equivalent right? well on that case... then yes, the coins must be sold.

But again, this is insane. The fucktards on the government should be sending the coins to the owners, not selling them and giving them USD equivalents. Fucking scammers.

Let's just hope Kobayashi goes OTC for the remainder of the coins, otherwise like I said he may end up dead.

I've read the opposite that he does have the power to sell coins....indeed his only goal is to sell it all at the best price as soon as possible, like any

liquidation/bankruptcy....but I too can't find the link to that either

damn

will keep looking, but then again the hype of either of these, gets eyeballs to your news site..so they are likely just guessing like us to get Ad revenue...

murky as f*ck as of now on what is true

As far as I now, I remember reading that the coins have been sold already at an amount enough that they can cover all the losses of creditors.

Therefore the remaining coins will go 88% for Mark Karpeles and the rest to the rest of the people holding shares of MtGox's company.

Karpeles will go to OTC if he wants to sell some, or he will end up dead.

I'm very worried if Trustee will buy the law with btc he has. So he is more free to manipulate bitcoin because we do not know what kind of law in their country. And I can only hope that what you say is true because we are here, and all are very much expecting, the existence of bitcoin changes naturally.

you have a link..the stuff I read seems to just 'assume' this ..which I find doubtful..what I'd say as the mt. gox trustee to get the price of BTC back to say 12k, so I could

dump (yeah, I know I'm evil in thinking this...but how things usually 'splat' in my life.


So this whole mt. gox trustee NOT allowed to move coin till Septemeber...and his whole existence is to liquidate all coin to distribute ASAP...seems an iffy bet...


Not sure if it works that way. Anyone know anything about Japanese Bankruptcy Law? I think it likely the Mt.Gox has permission to sell yet. What happens without permission to sell

and BTC is dumping to $4k for some reason say.......thus IMHO, he has the right yet to sell the coin in 2018....but will he do so?

The question comes down to...IS this a FULL Liquidation on Bankruptcy? If it is he will continue to dump on a whim till it is ALL in USD etc...this is how most liquidations work

so I will be surprised if we don't see a lot more BTC moved this year.

Also, I think I read (can't find the link) that under Japanese Bankruptcy Law...IF the creditors are paid off (in what 2014 price of BTC big whoop) then a portion of the remaining

sold off BTC will go back to mark karpales....thus he will likely still be a multi-millionaire when all this is done...FML

Anyway, will keep digging for links...but I doubt the mt. gox trustee has lost the power to dump, likely he has a target price of $10k or $11k, thus is just waiting

He is an idiot however, I also heard he could get much more in a partial number of auction format, also exchanges have offered also the trustee would likely get more $$$

but he seems to be panic dumping when it is over $10k or some such

dweeb

FML

It doesn't really matter because even if MtGox will be forced to return the money, and even if they will be found to own those bitcoins, they will need to return the bitcoins as fiat at the rate of bitcoin when it has been stolen, which means that for  each bitcoin you had, you won't receive 10K$ as bitcoin worth today, but you will receive about 30$ per coin, so even if you planned on being a millionaire, you will stay only with few thousands dollars, so don't have any high expectations.
Anyway the tool is great and I think it should be presented in the services section.

Actually? That is fabulous news for us, could you please link a source for that. Don't want to spread misinformation moving ahead, the crypto market needs less of that as far as I am concerned.

I just read another thread that a lot of shorts were opened on the US market today and immediately put two and two together but if what people are saying about him being unable to sell any more coins until after late September is true then who knows what's behind that.

Kobayashi could pull off a great trick by shorting bitcoin himself and then moving those funds to an exchange, he wouldn't even have to sell anything but he'd already have profited from that.

The trustee is not allowed to liquidate any more btc until Sept 28, 2018.

I have even heard that they are..now.. talking with.. court and stuff.. Taking out ..the records .. to get the permission to sell their rest of the coins..
If that happens I doubt if... We would still take 1-2 months for recover..
Also..you know people saying that it's related to south Korea's negotiation deal.. but I doubt it.

I have read that there is not going to be anymore bitcoins  for sale until September of this year, it is very clear to me they are trying to maximize their profits if they sell more of their coins then the price will get lower and they will get less for those coins so they are going to try to let the market recover and then they will sell again so you need to prepare for another crash in the future.

It's not new on that Mt.Cox is still have many bitcoin on there wallet and there manipulating the price of bitcoin they think there whale now. Mt Cox is the reason why bitcoin is suddenly fall.

Since that is why they did its obvious to me that is what they wanted to do, but do not worry when the sell off ends those coins are going to be in the possession of long-term holders which do not have the intention of selling them in the short term and then will continue as usual, bitcoin will slowly recover its price and then it will skyrocket we do not know when that will happen but we know it will happen.

With these some current revelations in the internet it is seems that they are the reason on why Bitcoin price become this cheap of today, that we all thought that the latest dip was due to ultimate corrections but it is not. I start to believed that this MT Gox are member of the  Big whales in which try to manipulate the market price of course because of money which is a very greedy act. I just hope that this is their last manipulation as i heard that they still have a huge Bitcoin and Bitcoin cash left at their disposal.

From your detailed explanation it has proven that BTC has really been manipulated in a wild and uncivilized way.

I think if the Trustee plans to buy it back most likely he will resell it to scrape the BTC price into a small grain as small as $ 6,000 or maybe lower than $ 6,000. With such a low price was certain he will have a gross profit of 200% ~ 300%.

Thanks for this, might come in handy.
They should have just auctioned the btc instead of dumping it on the market like this.

This is a site set up by Matt Odell to track the remaining 162K of Bitcoins in 84 wallets under the control of the Mt Gox Bankruptcy Trustee, and to send an alert if any of the Bitcoins in these wallets are moved - https://goo.gl/eUUHbx - Scroll up to see the background to this, with 40K of Mt Gox Bitcoins having been thawed out of cold storage wallets and moved to exchanges in 5 stages from Dec to Feb with a reported 35,841 BTC sold for $362 mil for Mt Gox creditors (and the rest presumably sold for legal costs) - and a chart of the BTC price from Dec to now showing the falls in the BTC price each of the 5 times the Bitcoins were moved from Mt Gox wallets, culminating in the fall to $6K on Feb 6 the day after the biggest transfer of 18K Bitcoin on Feb 5!

Will the Trustee sell anymore Bitcoin? And looking at the falls in BTC price from its peak of 19K to the nadir of 6K coinciding with the 5 moves of Mt Gox Bitcoins to exchanges from December to February, will the BTC price fall if he does - or is that a coincidence? Either way the BTC hedge funds and whales are likely to short BTC as soon as the Trustee thaws any more BTC from these cold wallets, and being alerted to such a move may be important information. And I’ve never known a bankruptcy receiver that sits on a realisable asset!

Something overhanging the market to contemplate along with TA perhaps ...