Title: MtGOX return of funds Post by: Yangleiden on September 17, 2018, 03:25:56 AM Is anyone concerned about the upcoming MtGOX return of funds? I’m not sure what the total # of btc that’s being claimed by their original owners but I’d imagine many may sell which could have huge market impact / price collapse
Thoughts ? Title: Re: MtGOX return of funds Post by: JenkinsCharlie on September 17, 2018, 03:28:50 AM Even if the majority of the recipients all decide they're just gonna hang on to their Bitcoins and not sell, and in the best case scenario only less than 20% decide to sell, that's still 20% of about a billion. If too many sell around the same time, and it's not spread out enough, in the current state of the market with no strong confidence and low volume, that will probably still have an impact.
Now if a lot more people than that decide to sell, or the majority sells, we could be in for a pretty major drop. Title: Re: MtGOX return of funds Post by: Yangleiden on September 17, 2018, 03:49:47 AM Even if the majority of the recipients all decide they're just gonna hang on to their Bitcoins and not sell, and in the best case scenario only less than 20% decide to sell, that's still 20% of about a billion. If too many sell around the same time, and it's not spread out enough, in the current state of the market with no strong confidence and low volume, that will probably still have an impact. Indeed, and then bitmex ppl will try to short and down we go. Personally, I’m holding for next few years so I welcome the buying opportunity. Even if a recession was to start in US, crypto is here to stay and at worst the recovery time might just be extendedNow if a lot more people than that decide to sell, or the majority sells, we could be in for a pretty major drop. Title: Re: MtGOX return of funds Post by: FionaRice124 on September 17, 2018, 03:55:31 AM Not concerned, it won't have any affect on the operation or principles of Bitcoin. Even if there is a sell off, it will have no long term impact on the price. It might provide a buying opportunity though.
Title: Re: MtGOX return of funds Post by: NatalieBoyd43 on September 17, 2018, 03:59:13 AM Not concerned, it won't have any affect on the operation or principles of Bitcoin. Even if there is a sell off, it will have no long term impact on the price. It might provide a buying opportunity though. Yep agreed with you on all points. Is there any way to know how much BTC is expected to be returned ?Title: Re: MtGOX return of funds Post by: FionaRice124 on September 17, 2018, 04:02:11 AM Not concerned, it won't have any affect on the operation or principles of Bitcoin. Even if there is a sell off, it will have no long term impact on the price. It might provide a buying opportunity though. Yep agreed with you on all points. Is there any way to know how much BTC is expected to be returned ?Edit: I think I misunderstood your question. You were not asking about expected return on investment, you were asking how much bitcoin will be returned to MtGox victims. I think it's about 170,000 bitcoins. Title: Re: MtGOX return of funds Post by: netfifox on September 17, 2018, 04:38:23 AM Bitcoins will always be stable in price and that will not affect Bitcoin.
Title: Re: MtGOX return of funds Post by: dreamhouse on September 17, 2018, 04:40:56 AM It's a ridiculous thing to return funds, they should return the bitcoin, not money.
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