Who would gox owe money to other than their customers and employees? Rent for their office and servers? Or maybe a big bank loan to fund a crappuccino addiction? Lawyers?
It just doesn't seem like their expenses were that big.
Topic: Mt. Gox's final impact on BTC... - page 2. (Read 2505 times)
Even if the coins are sold to private buyers off-exchange, the price is still going down. There's going to be a lot more supply than demand and the people buying gox's coins won't need to be buying any from exchanges for a long time. Not to mention the negativity in the media when people with money on gox find out they're getting zilch. This isn't like the early days when large bitcoin heists could be shrugged off and soon forgotten.
Bad publicity from Mt Gox has been priced-in since January 
Also, the price will only go down short-term. There will be no long-term downtrend from more supply, look at Dogecoin for example
Even if the coins are sold to private buyers off-exchange, the price is still going down. There's going to be a lot more supply than demand and the people buying gox's coins won't need to be buying any from exchanges for a long time. Not to mention the negativity in the media when people with money on gox find out they're getting zilch. This isn't like the early days when large bitcoin heists could be shrugged off and soon forgotten.
Talking about Mt. Gox's final impact on BTC, I have to warn that from now on Bitcoin exchanges will find it extremely difficult to deal with the banks. Mt Gox had accounts with some of the Japanese banks, and therefore these banks have to answer to the criminal investigations now. This is going to affect Bitcoin exchanges really bad, as the banks are well connected world wide.
time to install mycelium bitcoin trader wallet?
Wtf is that? They tested nukes on dinosaurs? How is that even possible, isnt there like.. a 500 year time-span difference!?
Chicxulub asteroid
I don't know anything about bankruptcies/Court liquidations in Japan. If they are anything like their American counterparts, they can go on for years and can get very expensive, depending on complexity. The points made earlier in this thread about supply and demand are huge! What happens if the Court finds a few hundred thousand more coins? Selling 200k is a hell of a task, imagine selling 400k. In my limited opinion, (and I'm happy if I'm proven wrong!) Mt. Gox's bankruptcy case and its potential impact on us is the biggest threat to BTC right now. Forget about mass adoption, price stability and Wall St./Institutional/Big Fund money buying in. If the Mt. Gox bankruptcy case floods the Market with coins, there is no telling how severely the price of BTC could be damaged. If you think I'm trolling for cheap coins, think again or tell me why this is not an enormous problem.
Talking about Mt. Gox's final impact on BTC, I have to warn that from now on Bitcoin exchanges will find it extremely difficult to deal with the banks. Mt Gox had accounts with some of the Japanese banks, and therefore these banks have to answer to the criminal investigations now. This is going to affect Bitcoin exchanges really bad, as the banks are well connected world wide.
They're zillas .. ( http://en.wikipedia.org/wiki/Zilla_(Toho) ) I guess 
but yep, sounds like JP authorities rulez now
but yep, sounds like JP authorities rulez now
I guess it means "extinction event"
Wtf is that? They tested nukes on dinosaurs? How is that even possible, isnt there like.. a 500 year time-span difference!?
how soon do you think they'll be selling them?
Bankruptcy can take ages, it wouldn't surprise me if we were talking a few years.
how soon do you think they'll be selling them?
How fking sick is this.. if they have "found" the "missing" bitcoins, just hand them out! They still have the account data and all they need. Selling the bitcoins is bullshit. Those who held Fiat at their account should get fiat if possible, those who held bitcoin should get bitcoin if possible, isn't it that simple really?
What is Japanese states and banks take on bitcoin and cryptocurrencies?
What is Japanese states and banks take on bitcoin and cryptocurrencies?
Its not simple for a number of reasons one being they didn't "find" them all.
Where do you think the fiat to pay people who had fiat in their accounts is going to come from? Furthermore do you really think a Japanese liquidator is going to pay people back in Bitcoin ?
Well it could easily be Distributed eavenly. If they lost 400,000 and found 200,000 why not just repay 50% of everybodies innitial holdings? If People lost fiat or BTC doesn't matter they could easily calculate the value and just pay it out.
Its been discussed ad nauseam but one of the reasons is to do with Bitcoin not being legal currency as well as the fact they have huge fiat debts that they must cover as well. Bankruptcy is messy at the best of times but when assets are in a form that most people don't even understand, let alone are able to use and legally guarantee they are going to the right recipient it gets even messier. I don't claim to be an expert but if you want to learn more about the reasons its going like this as well as other questions you may have head over to the #mtgox-talk irc channel.
This is getting more and more silly, why didn't they just bankrupt and shout up for the rest of their lifes?
I think in Japan it is not that easy.
http://www.reddit.com/r/Bitcoin/comments/1z6ffm/japanese_bankruptcy_law_explained/
It would be real easy if you could start a company, let it go down the shitter and walk away wouldn't it....
If they sell 200k they are not going to do this through an exchange using a market order.
It's far easier to sell 10K or 50K chunks of bitcoin to buyers at 80% market price or something.
It's far easier to sell 10K or 50K chunks of bitcoin to buyers at 80% market price or something.
Agree but that doesn't stop those people dumping them for instant 20% profit.
Welll ehhhh ..... Sell 10K or 50K instantly you will lose more then 20%.
Also why would you assume whales would directly dump them?
A lot of startups like Winklevoss, secondmarket, etc. want those coins so they can make stocks out of them.
Probably governments secretly want bitcoins because they want power over people.
I didn't say instantly dump them as in market sell but dump them over the course of a few days.
Lots of reasons such as instant guaranteed profit, the general drop in the market would mean you could buy the majority of them back.
Why would you assume that wouldn't be the case?
Taking your theory then where selling 10k would drop the price 20% only 5% of those coins need to find there way to market for the price to drop and that number heading to general exchanges is very likely.
They're all theories and we won't know exactly what happens for quite a while I'd imagine but to think that 200k coins suddenly being out in the wild is not something that could drop the price is a bit naive.
I do think that there will be some dumping of the coins by weak hands, I don't think it will effect the price that much.
Looking at their incentives it is obvious in my opinition
- Curator wants to get rid of the coins quick and it's not his money so sell with a loss.
- The buyer gets cheap coins and has the time to sell it slowly (if he doesn't hodl). Sell it too fast and bitcoin goes into the shitter.
The market might be going sideways for a while.
The bottom line is as always supply and demand. The current price is based on the current supply and demand, increase the supply and if demand doesn't increase in line with it the price goes down, its that simple really.
How fking sick is this.. if they have "found" the "missing" bitcoins, just hand them out! They still have the account data and all they need. Selling the bitcoins is bullshit. Those who held Fiat at their account should get fiat if possible, those who held bitcoin should get bitcoin if possible, isn't it that simple really?
What is Japanese states and banks take on bitcoin and cryptocurrencies?
What is Japanese states and banks take on bitcoin and cryptocurrencies?
Its not simple for a number of reasons one being they didn't "find" them all.
Where do you think the fiat to pay people who had fiat in their accounts is going to come from? Furthermore do you really think a Japanese liquidator is going to pay people back in Bitcoin ?
Well it could easily be Distributed eavenly. If they lost 400,000 and found 200,000 why not just repay 50% of everybodies innitial holdings? If People lost fiat or BTC doesn't matter they could easily calculate the value and just pay it out.
How fking sick is this.. if they have "found" the "missing" bitcoins, just hand them out! They still have the account data and all they need. Selling the bitcoins is bullshit. Those who held Fiat at their account should get fiat if possible, those who held bitcoin should get bitcoin if possible, isn't it that simple really?
What is Japanese states and banks take on bitcoin and cryptocurrencies?
What is Japanese states and banks take on bitcoin and cryptocurrencies?
Its not simple for a number of reasons one being they didn't "find" them all.
Where do you think the fiat to pay people who had fiat in their accounts is going to come from? Furthermore do you really think a Japanese liquidator is going to pay people back in Bitcoin ?
If they sell 200k they are not going to do this through an exchange using a market order.
It's far easier to sell 10K or 50K chunks of bitcoin to buyers at 80% market price or something.
It's far easier to sell 10K or 50K chunks of bitcoin to buyers at 80% market price or something.
Agree but that doesn't stop those people dumping them for instant 20% profit.
Welll ehhhh ..... Sell 10K or 50K instantly you will lose more then 20%.
Also why would you assume whales would directly dump them?
A lot of startups like Winklevoss, secondmarket, etc. want those coins so they can make stocks out of them.
Probably governments secretly want bitcoins because they want power over people.
I didn't say instantly dump them as in market sell but dump them over the course of a few days.
Lots of reasons such as instant guaranteed profit, the general drop in the market would mean you could buy the majority of them back.
Why would you assume that wouldn't be the case?
Taking your theory then where selling 10k would drop the price 20% only 5% of those coins need to find there way to market for the price to drop and that number heading to general exchanges is very likely.
They're all theories and we won't know exactly what happens for quite a while I'd imagine but to think that 200k coins suddenly being out in the wild is not something that could drop the price is a bit naive.
I do think that there will be some dumping of the coins by weak hands, I don't think it will effect the price that much.
Looking at their incentives it is obvious in my opinition
- Curator wants to get rid of the coins quick and it's not his money so sell with a loss.
- The buyer gets cheap coins and has the time to sell it slowly (if he doesn't hodl). Sell it too fast and bitcoin goes into the shitter.
The market might be going sideways for a while.
This is getting more and more silly, why didn't they just bankrupt and shout up for the rest of their lifes?
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