Topic: Mt. Gox will release bitcoin in march - what's next? - page 2. (Read 426 times)
Whenever there is a good price direction that sees us a little higher, we end up with these type of news and its ordinary by now. If the market falls for it and doesn't go up then its the fault of the market and not these manipulators. The amount of money that will be unloaded in the market is nothing that we can't cover in a day or two, its really nothing, this is a billion dollar worth industry every single day, even more if you consider everything. So all in all there is no reason to keep on thinking this will be a bad thing, its going to be ordinary and shouldn't change anything, but when you consider all the FUD people selling and screaming because of it, it becomes even bigger than it suppose to be.
Similar to my thoughts I think we had our chance when we got past 25000 to go on a bull run but these repayments are probably going to cause negative news for the next couple of months and I think that will affect the potential increase in price. I think we will break 25000 in the next month or 2 but I do not think we are breaking 30000 in the next 6 months.
Even if we passed the elusive $25k, the bull run is still going to be disrupted with these mt gox issue but I know that we can resume again afterwards. The price is still at $23k plus at the moment and it wasn't really far from $25k so I dont' think we will need 2 months max for this. $25k is pretty possible within this month but what is hard is $30k.It's fine though because I know that we can still wait for that. Many of us are not new in this game anymore and we are use to long waits already. For those who are impatient, well that was their problem already but there is always coins which can fit better for them. That would be the new coins.
The deadline to register payee information is in mid-March. This was pushed back from early January. I don’t think there’s any chance payouts come in March. There’s still a lot of work to be done and with the US forcing exchanges to close accounts of Americans left and right, I imagine even getting the payouts to their appropriate creditors is going to be a hassle.
I also think that these payments, if nothing changes again, as it has happened many times before, will last a very long time. The exchange won't be able to pay each user the full amount in one lump sum. This procedure will drag on for a long time and will most likely have no effect at all on the market, which has a huge capitalisation compared to when Mt Gox scammed. This news may even have played out a long time ago.1. 142,000 bitcoin ($3.3 billion) Price as at today
2. 143,000 bitcoin cash ($19 million)
3. 69 billion Yen ($510 million)
I dont expect a big impact in the price with the duration of distribution but FUD will play a small part
Can anyone who is a MtGox creditor can confirm if they are actually going to get their coins in March? I’ve been hearing this for years and it almost always gets pushed back.
Obviously it’s not bullish. Will be a big dump when the first transaction from the MtGox trustee wallet is moved since there are some people that probably need to sell the bitcoins because they need the funds.
You and I share the same perception of Mt. Gox, but anyway it's always good to consider this one to plot things out when we really want to stick around. I mean, plan the investment and prepare budget in case big dump happens. We will get cheap bitcoin afterwards.Obviously it’s not bullish. Will be a big dump when the first transaction from the MtGox trustee wallet is moved since there are some people that probably need to sell the bitcoins because they need the funds.
Since the news, bitcoin has undergone a correction that sent the market down. Bitcoin lost a few percent of its last price before the news was released, that is bad FUD for most traders.
With that much BTC to release, it's going to make this market plunge.
Of all time since 2014, why is 2023 a mandatory date for mtgox coins to be released while the coins are stuck on them for too long?
Who would coerce Mtgox to release those coins by the way and why are the coins not seized when its open season for seizing wealth right now. I doubt it will be released.
Bitcoin will surely plunge if they release all the coins on one batch but they are planning to pay all the customer by batch in the course of 7 months. This might gonna give a negative impact on Bitcoin price but not that enough to dump Bitcoin price to the level when pandemic first hit.
There’s a high chance that recipients will sold immediately right after they received the funds but I think there’s still a lot of traders too that waits to buy their Bitcoin on lower price to balance the sell off.
With that much BTC to release, it's going to make this market plunge.
Of all time since 2014, why is 2023 a mandatory date for mtgox coins to be released while the coins are stuck on them for too long?
Who would coerce Mtgox to release those coins by the way and why are the coins not seized when its open season for seizing wealth right now. I doubt it will be released.
Can anyone who is a MtGox creditor can confirm if they are actually going to get their coins in March? I’ve been hearing this for years and it almost always gets pushed back.
Obviously it’s not bullish. Will be a big dump when the first transaction from the MtGox trustee wallet is moved since there are some people that probably need to sell the bitcoins because they need the funds.
Obviously it’s not bullish. Will be a big dump when the first transaction from the MtGox trustee wallet is moved since there are some people that probably need to sell the bitcoins because they need the funds.
What I know is that payments will be possible in Bitcoin, FIAT, and for some reason an altcoin whose name I don't want to mention at all. In other words, some will certainly decide on a bank transfer because it is a much easier option for them if they are already planning to sell BTC, and let's assume that the trustee will sell BTC through OTC.
Regarding confirmation, there is an official document that confirms that date, but as a deadline for submitting applications and correcting existing ones - while payments will start as soon as possible after that date. Maybe finally, after 10 years, the creditors will wait for their moment, and maybe not - after all, these are "super-efficient" Japanese people.
https://www.mtgox.com/img/pdf/20230106_announcement_en.pdf
I thought they had already received something, guess I was wrong but the price just dropped harshly so the market appears to believe its receiving new supplies immediately from perceived selling. What I think is more likely is there was already pressure in the price, constricted range and in fact we've broken down rather then upwards.
The sharp decline though has nothing to do with Mt. Gox, as I believed it has to do with the Silvergate potential bankruptcy. And if it is about Mt. Gox news, then it's pure FUD.
It's all over the crypto news and financial media outlets, so I guess we can't discount Mt. Gox for now, after the decline and sudden -6% drop in prices.
And as far as I know, it hasn't been distributed yet and it's going to be a slow 6 months to moved from the Gox trust to creditors
Well if they release 130k coins over 6 months time it will be 21 or 22k coins a month.
Since we mine only 27-28 k coins a month it means a price drop due to easier availability.
I have to think ¼ to ⅓ of those coins will be sold . so 7k maybe 9k a month for sale over the next 6 months.
time will tell if it happens.
Since we mine only 27-28 k coins a month it means a price drop due to easier availability.
I have to think ¼ to ⅓ of those coins will be sold . so 7k maybe 9k a month for sale over the next 6 months.
time will tell if it happens.
I thought they had already received something, guess I was wrong but the price just dropped harshly so the market appears to believe its receiving new supplies immediately from perceived selling. What I think is more likely is there was already pressure in the price, constricted range and in fact we've broken down rather then upwards.
Traders and investors who are not sufficiently able to ignore price down risks will likely sell above $23K, which has made the market dump much of the day's price. News like this can cause panic, but of course some people are starting to disbelieve about the planned release of the bitcoin Mt. Gox to his creditors.Something seemed doubtful about possible reversal of the market trend after the bull run during early 2023 to February, but right now some might still be strong enough to hold on and take advantage of this panic to collect bitcoin. $20K or lower I think will be very likely following the Mt. Gox plan, but I hope the news will only be fictional and won't happen before the next ATH takes a hit.
I thought they had already received something, guess I was wrong but the price just dropped harshly so the market appears to believe its receiving new supplies immediately from perceived selling. What I think is more likely is there was already pressure in the price, constricted range and in fact we've broken down rather then upwards.
Graph now indicates we need to revise maybe all of the 20k prices, we will be moving more slowly then some would have hoped. I think we still get to 30k as a very reasonable target before any real actual selling comes in from holders who are disillusioned with BTC price performance, as speculators thats normal phenomena as are these rumours that unfold and trigger falls in the price. Without confirmation we probably recover this fall before cycling through again.
Quote
The deadline to select a repayment option is 10 March, with repayments expected to begin in September this year.
The actual supply of coins is not actually the most important thing, it has an effect short term possibly if entering order books it will upset balance. Overall its not new information for new supply possible, theres all kinds of sources of BTC from various parties that can be sold but arent people just hold onto them or use them for a variety of alternatives outside of exchanges. Graph now indicates we need to revise maybe all of the 20k prices, we will be moving more slowly then some would have hoped. I think we still get to 30k as a very reasonable target before any real actual selling comes in from holders who are disillusioned with BTC price performance, as speculators thats normal phenomena as are these rumours that unfold and trigger falls in the price. Without confirmation we probably recover this fall before cycling through again.
Can anyone who is a MtGox creditor can confirm if they are actually going to get their coins in March? I’ve been hearing this for years and it almost always gets pushed back.
Obviously it’s not bullish. Will be a big dump when the first transaction from the MtGox trustee wallet is moved since there are some people that probably need to sell the bitcoins because they need the funds.
Obviously it’s not bullish. Will be a big dump when the first transaction from the MtGox trustee wallet is moved since there are some people that probably need to sell the bitcoins because they need the funds.
If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.
its not down 65% for those peopleit is up well over 10x
the highest price in 2014 was 800
the lowest price in 2014 was 300
so depending on your buy in
the ath in 2013 was 1300
we are at at 22k
so
300
800
1300
all way less than 22k
if I had mt gox coins coming as coins I sell half and take the huge gains
I would hold the other half.
If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.
I'll take that price any day, specially if we are talking about Mt. Gox, it has been affected us for a long time and it should be a close book if they are going to get back their money.
And even if the price goes on sideways for the next 6 months, I think we will be good.
At least there will be no lowest low for this year, it's very important as we will have to approach the halving next year. And so with that price going sideways, we still have a lot of opportunities to accumulate.
Rather than on making yourself that freak out then it would be just better if you do simply go with the flow and if the price would make out some crash then it would be the best time to bag hold more.
It is really that stressful if you are really that minding that much for whatever news and events that do happen in the market.Its not something new and
we've been able to experience tons back in the past years.
I think that "Mt. Gox will release bitcoin" is the new "China ban bitcoin" FUD TOPIC, Over the past few months, I have seen hundreds of people expecting a drop in the price due to the launch of these currencies, and as soon as the time comes, we hear of another delay, or at least payment in dollars, and the news is repeated again, just as it was happening with China’s ban on Bitcoin, a topic that was repeated a lot during the year 2017.
Therefore, stop posting any news related to Mt. Gox, unless you know someone who has already received his money, and I do not think that this news has an impact on the market.
Therefore, stop posting any news related to Mt. Gox, unless you know someone who has already received his money, and I do not think that this news has an impact on the market.
If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.
I'll take that price any day, specially if we are talking about Mt. Gox, it has been affected us for a long time and it should be a close book if they are going to get back their money.
And even if the price goes on sideways for the next 6 months, I think we will be good.
At least there will be no lowest low for this year, it's very important as we will have to approach the halving next year. And so with that price going sideways, we still have a lot of opportunities to accumulate.
I seem to disagree on this. If the repayment is really going to be in the upcoming months, we could easily test the lows (towards 15k). Keep in mind that US economy's inflation is still not getting under control. There will be pressure from both the sides.
However, I don't trust in mtgox's words at all. They are about to release (re)payments since 2018, lol.
You are right, if Mt. Gox started releasing those bitcoins to creditors so bitcoin is expected to dump its price and test another low. The problem is this has been planned for a long time, but it never happened. I don't know what the truth is this time, but nevertheless traders only have to consider the risk.However, I don't trust in mtgox's words at all. They are about to release (re)payments since 2018, lol.
I wouldn't plan on selling this quickly, but might be a bit careful to get lots of bitcoin as soon as possible. I won't rush things, so let's wait and plan for DCA as best we can.
If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.
Similar to my thoughts I think we had our chance when we got past 25000 to go on a bull run but these repayments are probably going to cause negative news for the next couple of months and I think that will affect the potential increase in price. I think we will break 25000 in the next month or 2 but I do not think we are breaking 30000 in the next 6 months. 
If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems.
I seem to disagree on this. If the repayment is really going to be in the upcoming months, we could easily test the lows (towards 15k). Keep in mind that US economy's inflation is still not getting under control. There will be pressure from both the sides.However, I don't trust in mtgox's words at all. They are about to release (re)payments since 2018, lol.
As I said before, the bitcoin Mt. Gox allows correction regardless of how severe it is. Some of them may sell their bitcoin holdings, but of course they won't sell all of them because that would only deprive them of the opportunity to get higher price.
I know FUD Mt. Gox is nothing new in recent years, so I don't think the impact on the market will be as severe as one might expect. You all may be right, we just need to ignore this issue and stick to the good interests of holding bitcoin. If eventually bitcoin should fall deeper due to the truth of this news, then I don't think it will stay on bearish forever.
I know FUD Mt. Gox is nothing new in recent years, so I don't think the impact on the market will be as severe as one might expect. You all may be right, we just need to ignore this issue and stick to the good interests of holding bitcoin. If eventually bitcoin should fall deeper due to the truth of this news, then I don't think it will stay on bearish forever.
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