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.
Topic: Mt. Gox will release bitcoin in march - what's next? - page 3. (Read 348 times)
The news may not be good enough for the markets during March, but it will only be important for things to support bitcoin price analysis during March. Corrections may occur due to this plan, but however I don't know what the certainty is. My hope remains, bitcoin is expected to hold above $20K through March.
What are your plans now?
Mt. Gox creditors may finally start seeing their bitcoins this month
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Well if they are getting paid, a large portion of that will obviously hit the markets, and i wouldn't blame people dumping them. I know people who came in lately would see it insane to sell now but you weren't putting money in back then so you don't know what it would be like for them.What are your plans now?
Mt. Gox creditors may finally start seeing their bitcoins this month
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And before that happens, ton of speculators will dump their their bitcoins in the markets because they know that the price is going to dip hard. So this will be another leg down before bull for sure.
Usually this would affect to altcoins as it has in the past but this time i am not that sure. It's a purely BTC thing. Not BTC reacting to other real world financial events.
I wonder how much these people who cash out will need to pay in taxes total?
I remember we also discussed this news many times last year, and so far, there has been no bitcoin release for Mt.Gox investors. I'm not their victim, but I really hope that the victims of that year get back some of their property, they don't have to give it all back, but just a small part is enough to be happy. Even if it causes bitcoin to be dumped, I still hope it happens. But I doubt that will ever happen, they are just trying to buy time, making it difficult for the victim to give up hope voluntarily.
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. 
Honestly, I don't believe that the creditors will be reimbursed by Mt.gox, they will continue to give investors another appointment. The story of mtgox has been going on for years and is full of false promises, I don't think they can or really want to return investors' money. The market is already so familiar with this news that we won't need to prepare any plans. And as far as I have read some news before, they will release bitcoins on schedule, so even if that happens, it won't affect the market.
This news is familiar. How many times have we read in the news that Mt. Gox funds are about to be reimbursed to the creditors and the price of Bitcoin will possibly be affected? This isn't the first time. FUD of a dump because of the big amount of Mt. Gox funds is not new. So if it is finally true this time that Mt. Gox users will finally be receiving their refunds, the effect of it to other Bitcoin holders is probably priced in already. But I still doubt the refunds will be sent within this month.
What are your plans now?
It doesn't change, the ideal is to hold on and ignore the bad stuff.In quotation mark the distribution is "probably/ may" done in March, but I don't expect that to be sufficiently confirmed. It's good to accept the fact that the process will just be postponed, and you don't have to worry too much about price speculation if you're a long-term holder. If it makes the price go down, then that means you only need to accumulate bitcoin at low prices.
I agree, it doesn't matter at this point, of course it's going to be very hard to see the price going down if that is the case. But for sure for those who have been in this market and knows when to sell and when to buy, it wouldn't matter if Mt. Gox will finally released their bitcoins or not. On the other hand, we don't know if they are going to sell or hold it as well.
So it's better to just have a wait and see attitude for now as March seems to be bullish as well.
What are your plans now?
It doesn't change, the ideal is to hold on and ignore the bad stuff.In quotation mark the distribution is "probably/ may" done in March, but I don't expect that to be sufficiently confirmed. It's good to accept the fact that the process will just be postponed, and you don't have to worry too much about price speculation if you're a long-term holder. If it makes the price go down, then that means you only need to accumulate bitcoin at low prices.
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.
The news may not be good enough for the markets during March, but it will only be important for things to support bitcoin price analysis during March. Corrections may occur due to this plan, but however I don't know what the certainty is. My hope remains, bitcoin is expected to hold above $20K through March.
What are your plans now?
Mt. Gox creditors may finally start seeing their bitcoins this month
I don't think Mt. Gox has had an impact on the crypto market for a long time. If at the beginning of the process they may have had a negative impact on bitcoin and other assets, but this news has not surprised anyone for a long time and I would not be surprised if at the last moment their plans change again. All in all, I will not react to it in any way. There are plenty of other negative news on the market right now than this one. Even more so, even if the exchange starts to return funds to users, it will certainly not all at once and it will require a huge amount of red tape. What are your plans now?
Mt. Gox creditors may finally start seeing their bitcoins this month
Quote
Mt. Gox creditors may start seeing their first bitcoin payments this month as the window for repayments is set to open.
Creditors are expected to receive early repayments from March 10 onward, while the deadline for such payments to be completed is September 30, according to a January statement. This is for the first tranche of repayments — including early lump sum payments and intermediate payments — with further amounts set to come later.
“Well, for myself, I had pretty much written off the Bitcoin I still had on Mt. Gox in 2014 as a loss, so philosophically anything I get back now is a bonus to cold store,” said Blockstream CEO Adam Back, who is a Mt. Gox creditor, via Telegram.
“It has stretched on for many more years than anyone expected, and so it will be welcome I am sure by any creditors to finally get paid,” he added.
Creditors are expected to receive early repayments from March 10 onward, while the deadline for such payments to be completed is September 30, according to a January statement. This is for the first tranche of repayments — including early lump sum payments and intermediate payments — with further amounts set to come later.
“Well, for myself, I had pretty much written off the Bitcoin I still had on Mt. Gox in 2014 as a loss, so philosophically anything I get back now is a bonus to cold store,” said Blockstream CEO Adam Back, who is a Mt. Gox creditor, via Telegram.
“It has stretched on for many more years than anyone expected, and so it will be welcome I am sure by any creditors to finally get paid,” he added.
I wonder if this is the closest we've got to mtgox debitors actually receiving their payout or if something similar has happened before and then been stopped or blocked by other proceedings (such as if someone makes a claim after hearing this news, is that still possible to have an effect?)
It's good this is happening over the course of 6/7 months too so it might not have too much of an effect on the price but it'll likely still have some if they don't manage the payments well or if one person gets a huge lump sum. Hopefully it's not a repeat of luna.
It's good this is happening over the course of 6/7 months too so it might not have too much of an effect on the price but it'll likely still have some if they don't manage the payments well or if one person gets a huge lump sum. Hopefully it's not a repeat of luna.
The news may not be good enough for the markets during March, but it will only be important for things to support bitcoin price analysis during March. Corrections may occur due to this plan, but however I don't know what the certainty is. My hope remains, bitcoin is expected to hold above $20K through March.
What are your plans now?
Mt. Gox creditors may finally start seeing their bitcoins this month
What are your plans now?
Mt. Gox creditors may finally start seeing their bitcoins this month
Quote
Mt. Gox creditors may start seeing their first bitcoin payments this month as the window for repayments is set to open.
Creditors are expected to receive early repayments from March 10 onward, while the deadline for such payments to be completed is September 30, according to a January statement. This is for the first tranche of repayments — including early lump sum payments and intermediate payments — with further amounts set to come later.
“Well, for myself, I had pretty much written off the Bitcoin I still had on Mt. Gox in 2014 as a loss, so philosophically anything I get back now is a bonus to cold store,” said Blockstream CEO Adam Back, who is a Mt. Gox creditor, via Telegram.
“It has stretched on for many more years than anyone expected, and so it will be welcome I am sure by any creditors to finally get paid,” he added.
Creditors are expected to receive early repayments from March 10 onward, while the deadline for such payments to be completed is September 30, according to a January statement. This is for the first tranche of repayments — including early lump sum payments and intermediate payments — with further amounts set to come later.
“Well, for myself, I had pretty much written off the Bitcoin I still had on Mt. Gox in 2014 as a loss, so philosophically anything I get back now is a bonus to cold store,” said Blockstream CEO Adam Back, who is a Mt. Gox creditor, via Telegram.
“It has stretched on for many more years than anyone expected, and so it will be welcome I am sure by any creditors to finally get paid,” he added.
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