Repayment Deadline Increased for the MT Gox Exchange’s Creditors - page 3.

Die_empty

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Quote from: DaveF on September 21, 2023, 06:33:04 AM

From what I see the 2024 date is the END of the repayments, not the start. I can see them wanting to do it slowly and in batches to make sure it goes well as opposed to shoving it all out the door as fast as possible and dealing with all the issues at once. There are merits to doing it both ways.

-Dave

This is not the first time they have postponed the repayment date. I guess many of these victims will immediately sell off their coins when they receive the repayment. And this would have flooded the market which might lead to a drop in price. But if payment to the victims will be done in batches, then it is a welcome development. At least the sales of this bitcoin will spread within one year which will not affect the market so much. Repaying these funds in batches will also reduce errors and other complications. It is also a green light to investors I keep buying and hodling. I just hope that everybody who has lost money in MT Gox gets back their funds.

It is also possible that Rehabilitation trustee Nobuaki Kobayashi and his advisers are targeting next years having and huge investment in the bitcoin sector. Maybe they want to make more money for these claimants.

DeathAngel

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There is no justifiable reason for a delay here, this is not good enough. I’m not sure what games are going on here but maybe people in higher places have ordered this delay due to the halving & potential ETF approval. Maybe the expected dump following the release of coins is better served for the powers that be later on, down the road. The trustee has had plenty of time to get everything sorted for pay out at the original date. The reasoning given for delay is not good enough.

Bureau

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1 year is still a big deadline, they might start from the end of the year, but there is nothing confirmed. There are 24000 creditors who have been patiently waiting and now again they have to wait. I do not think this news would influence the existing market. The market is still going sideways and I do not think we will think any changes would happen. We cannot ascertain now how the market would react when they will pay what they promised. Bitcoin halving will happen next year, at the moment it is likely to happen by March. There would be a six-month gap in between to complete it, the bull market should start by that time.

DaveF

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Also from that article linked:

Quote

Additionally, Kobayashi explained that, for rehabilitation creditors who have provided the necessary information, repayments will be made in sequence as early as the end of this year.

From what I see the 2024 date is the END of the repayments, not the start. I can see them wanting to do it slowly and in batches to make sure it goes well as opposed to shoving it all out the door as fast as possible and dealing with all the issues at once. There are merits to doing it both ways.

-Dave

tbct_mt2

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Quote from: Faisal2202 on September 21, 2023, 06:20:54 AM

According to the cointelegraph, the trustee Nobuaki Kobayashi has changed the repayment date by 1 year.

Shake my head when I read this. Again, it happens again. Delay again and again, years already.

Will Mt.Gox victims receive their coins back after all those delays?

I doubt it but even those victims receive their bitcoins, Bitcoin market will be big enough to absorb those bitcoins if they are all sold on the market. Assume victims will receive coins in October 2024, there will be more FUD about it around that month. Assume distribution will be made, you must bookmark that article and that date to avoid likely fud attacks around that time, next year.

It's important for you to cash out before that date or to prepare capital to buy dips.

Faisal2202

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According to the cointelegraph, the trustee Nobuaki Kobayashi has changed the repayment date by 1 year. I mean directly from Oct 31, 2023, to Oct 31, 2024. That was so unpredictable and honestly I don't know on what basis they are delaying the repayment. Even though they have funds in their hands. It would be good if they had repaid the amount to the creditors so that they would use them according to the market's current condition. I mean according to the upcoming halving event.

source

To be honest, I almost thought that, they would increase the repayment date. But did not think that they would put an increment of 1 year. That's so long for the waiters. But if they have waited this long then I think they can wait for another year too. Plus I have a question, is this a good factor for the market or not? I do know that, if they would pay the amount then we will see some selling of BTC, BCH and Yuan, etc. Which would cause a dump in the market. But what else I am missing other than this?

Topic: Repayment Deadline Increased for the MT Gox Exchange’s Creditors - page 3. (Read 377 times)