MTGOX to pay out 166,000BTC to victims = Mega Dump?

BitBerau

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Quote from: Svelto on August 26, 2018, 12:15:16 PM

When is the payout expected to happen?

Sometime between Q1 & Q2 of 2019.

Quote from: gentlemand on August 26, 2018, 01:03:20 PM

There are thousands of people involved. Completely pointless attempting to guess what all their motivations are. I can well imagine more than a few will want to cut and run. Plenty of others will choose to hold. It'll probably be five years before it's all done and dusted which is plenty of time to formulate your strategy.

I do wonder more about the Bcash as it's starting to look a little wobbly. Just over half of it has been claimed by others so in effect that's the equivalent of over 300,000 BTC ready to rock.

Either way I won't care if there's a dump. They waited long enough to deserve it if they want to.

Bitmain is shitting their pants right now, reason why they want to do an IPO which also includes their assets such as BCH holdings, whilst knowing that it will crash when those btc from mtgox goes into circulation.

gentlemand

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There are thousands of people involved. Completely pointless attempting to guess what all their motivations are. I can well imagine more than a few will want to cut and run. Plenty of others will choose to hold. It'll probably be five years before it's all done and dusted which is plenty of time to formulate your strategy.

I do wonder more about the Bcash as it's starting to look a little wobbly. Just over half of it has been claimed by others so in effect that's the equivalent of over 300,000 BTC ready to rock.

Either way I won't care if there's a dump. They waited long enough to deserve it if they want to.

BitBerau

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Quote from: LeGaulois on August 26, 2018, 11:40:19 AM

Yeah, the majority will be selling the coins immediately thinking they learned a lesson before. Some have all their saving on it too. There is still a small group of people who won't sell, mainly the true crypto enthusiasts.

The crash from December when the price was at $20k is not related to MtGox by the way...

Regardless, additional supply in the market will keep a lot of bears happy..

Mtgox wasnt entirely responsible for the $20k crash but it definitely help cause it. as they were market selling a lot on exchanges instead of going otc.

Svelto

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Probably, since the owners have made a handsome profits from BTC price in 2014. Although, there might be a possibility the owners choose to hold Bitcoin.

When is the payout expected to happen?

LeGaulois

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Yeah, the majority will be selling the coins immediately thinking they learned a lesson before. Some have all their saving on it too. There is still a small group of people who won't sell, mainly the true crypto enthusiasts.

The crash from December when the price was at $20k is not related to MtGox by the way...

nsasuiteb

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Actually it does not lead to a dump but this expectation cause lots of people to sell but I think market is not affected by anything by now.

BitBerau

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Quote from: LogitechMouse on August 26, 2018, 10:26:08 AM

It depends on the owners I think if they will dump it or they will hold it but I think most will sell their Bitcoins if this will happen so I expect a price crash if this is true. Mt Gox sure is fucking us until this day Cheesy

Although sometimes I wonder if we would've still had this of a magnitude if mtgox didnt cause a supply shock due to the hacks.

LogitechMouse

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It depends on the owners I think if they will dump it or they will hold it but I think most will sell their Bitcoins if this will happen so I expect a price crash if this is true. Mt Gox sure is fucking us until this day Cheesy

BitBerau

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After the huge market selling which mtgox did once bitcoin hit $20k and caused the crash, it seems like a new wave is coming.
"We are of the opinion that most of the assets, including approximately 166,000 BTC and 168,000 of BCH and other derivatives currently held by Mt. Gox, should be paid to creditors at the time of the first payment."

Will be interesting to see what will happen when Mtgox returns the btc back to the owners.
Will there be a supply surge causing the price to tank or will it legitimize the Crypto markets? One thing we know for sure is that Mtgox continues to fuck people over to this day.

Topic: MTGOX to pay out 166,000BTC to victims = Mega Dump? (Read 155 times)