This man crashed bitcoin. . | Bitcointalksearch.org

pooya87

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Quote from: patrickreiner on March 15, 2018, 06:29:38 PM

So, yes, $400 million is a lot but considering bitcoin's market value is roughly $140 BILLION, it's not actually that much. That's less than 0.3%.

this news and the way people are reacting to it is actually pretty funny in my opinion. not only because that amount is pretty small compared to the daily volume but also it was one a dump in one day but a dump in the course of at least 6 or 7 months which means the market absorbed it pretty nicely without any change.

not to mention that according to the news (the part which everyone is ignoring) is the dates. the sell off started last year during the rise and ever since the start price went up from $4000ish to $20,000 then fell. they always ignore this fun fact that price was rising even though this dude was selling, and yet they say he crashed the market!

CryptoBry

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This should not have been a big issue but the market is just looking for a big reason to slide...anyway am sure that soon Bitcoin will be rebounding after the sell-off has already been absorbed by the market. Yes, this is the best time to buy Bitcoin as the pattern has already been established...buy it below $8000 and within weeks the price can be near $12,000...that is a big profit margin which can never be seen anywhere. Calling all fund managers to snap up Bitcoin now!

RejectedBanana

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I am a banana.

Quote from: ahmadoo on March 15, 2018, 10:42:49 AM

New
Bitcoin's Tokyo Whale (not to be confused with that Tokyo Whale) revealed on Wednesday that he has sold off about $400 million in bitcoin and bitcoin cash since late September.

Kobayashi made his disclosure in the report from the 10th creditors' meeting, which took place Wednesday.

In the report, he said he'd started selling off the bitcoin and bitcoin cash to raise money for disbursements that the trustee will soon need to begin making as bankruptcy claims are being evaluated, per Bloomberg.

Friends don't let friends trade emotionally. If you really believed in Bitcoin, you'd stop perpetuating (or acting on) FUD.

https://cointelegraph.com/news/effects-of-mt-gox-trustees-400-mln-sale-on-bitcoin-market

tl;dr:

Quote from: RejectedBanana on March 15, 2018, 05:41:33 PM

- Goxees are actually receiving settlements?! Wowee. How much of that will come right back into crypto? Kobayashi may be an idiot, and a short-lived one at that, but the fact that Bitcoin has appreciated so frucking much that the trustee only needed to liquidate 15% of the recovered stash to pay back ALL the creditors' claims is a miracle in and of itself. That's not exactly how the story ended with Bernie Madoff's clients. This fact is being WAY under-reported. I can't believe the market is focused so much more on slippage instead of Bitcoin's incredible asset appreciation since then. The real idiots in this story are the judge and creditors who insisted on being paid back in fiat-equivalent at the time of Gox's collapse instead of Bitcoin, just because the price of BTC continued to collapse post-Mt Gox. Oh ye of little faith, careful what you ask for and now eat your frucking cake!

creeps

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Quote from: patrickreiner on March 15, 2018, 06:29:38 PM

So, yes, $400 million is a lot but considering bitcoin's market value is roughly $140 BILLION, it's not actually that much. That's less than 0.3%.

But as you can see there's a big impact on the market, it might go down deeper at the level of $6k.
Read this thing out while I'm surfing and for me his decision affects the market, that's sad but true.
Hopefully the market, can able to sustain at a support level so we cannot hurt much on dumping.

PuertoLibre

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Quote from: ahmadoo on March 15, 2018, 10:42:49 AM

New
Bitcoin's Tokyo Whale (not to be confused with that Tokyo Whale) revealed on Wednesday that he has sold off about $400 million in bitcoin and bitcoin cash since late September.

Kobayashi made his disclosure in the report from the 10th creditors' meeting, which took place Wednesday.

In the report, he said he'd started selling off the bitcoin and bitcoin cash to raise money for disbursements that the trustee will soon need to begin making as bankruptcy claims are being evaluated, per Bloomberg.

I also read this news on local newspaper. This guys are whales and have power to move any financial market. Since there is no strong regulation rules in crypto market this makes everything much more easier for them: No need to report your activity,noone will ask about where money comes and goes etc.. At some point things look really weird for people like us....

snowdropfore

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mtgox have kill the bull market for many times , but everytime bitcoin come back and become bigger and bigger.

piloder

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Quote from: SUDARMONO on March 15, 2018, 06:36:41 PM

Sales of so much up to $ 400 million could affect the market price, and if all the prices sold bitcoin must decrease ,.

Actually he have sold it in different time period and not in a bulk in just one day or in just one trading platform. So even the amount looks bigger it might not have caused any big drop of more than a $1k per coin during his dumping. Marketcap of bitcoin is in hundreds of billions so sell off of 400 million might not have any huge impact on price of bitcoin.

Silverun

newbie

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That's so bad to hear, the value will totally gets down if so, because even your money is just so few or small the value of bitcoin really move if you don't mind guys, small matters count in bitcoin we cann see how cents move in value of bitcoin if you can see in the chart.

Anti-Cen

member

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High fees = low BTC price

Quote from: patrickreiner on March 15, 2018, 06:29:38 PM

So, yes, $400 million is a lot but considering bitcoin's market value is roughly $140 BILLION, it's not actually that much. That's less than 0.3%.

Yes but that only goes to show how unstable the price has become when people look at the fundamentals like
transactions per second (A mere 7) and trust in the development team that hit zero when Tx fees reached $55
and those that are on the ball have already realized that the lightning network is just a network of banking hubs.

Here is the man to blame for crashing the price but tomorrow they will blame something mumbled from Japan or
Korea whist ignoring the obvious elephants in the room.
https://www.youtube.com/watch?v=UYHFrf5ci_g

bitcub

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My goodness, another massive dump? That's okay I am bearish, I sold all my BTC at 9k. I wish BTC would dump at 6k or 3k hehe.

SUDARMONO

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Sales of so much up to $ 400 million could affect the market price, and if all the prices sold bitcoin must decrease ,.

patrickreiner

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So, yes, $400 million is a lot but considering bitcoin's market value is roughly $140 BILLION, it's not actually that much. That's less than 0.3%.

kingcrypto-the2nd

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i read about em on yahoo-news,well if u where him will u do they same?

ahmadoo

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New
Bitcoin's Tokyo Whale (not to be confused with that Tokyo Whale) revealed on Wednesday that he has sold off about $400 million in bitcoin and bitcoin cash since late September.

Kobayashi made his disclosure in the report from the 10th creditors' meeting, which took place Wednesday.

In the report, he said he'd started selling off the bitcoin and bitcoin cash to raise money for disbursements that the trustee will soon need to begin making as bankruptcy claims are being evaluated, per Bloomberg.

Topic: This man crashed bitcoin. . (Read 208 times)