Bitcoin Forum

Just saw an article on Cointelegraph (https://cointelegraph.com/news/bitcoin-mt-gox-repayment-date-looming-is-bitcoin-in-trouble) that Mt. GOX will be refunding victims of the hack that happened to them years ago,  next month. While this is good news for the victims and will restore some level of confidence in the entire Bitcoin community,  there are concerns regarding the impact of such move on the price of Bitcoin.

The exchange lost 850,000 BTC to the hack in 2014. The concerns is that this proposed refund might lead to a huge dump in the price of Bitcoin. If Mt. Gox actually refund their victims, how do you think this might impact on the price and future of Bitcoin.

Nobody knows what will happen. It depends on if more people buy or sell. But most likely that as some people receive their bitcoin, they will want to sell. If many people sell their bitcoin, this may cause decrease in the price of bitcoin because that amount of bitcoin is huge.

I do not know what traders will do, if some of them also sell, this may cause more decrease of bitcoin price.

Or some people know that bitcoin price is cheap for now and they may want to hold. I do not know what will exactly happen, but I think the price of bitcoin will fall a little.

But do not panic, the price of bitcoin will increase and get to ATH

Not until this day did I know Mt. Gox still had over 130k+ BTC all over their trustees addresses, which is enough fund to pay back a few of the lost BTC during the hack.

When you talk about the implication that this might have on the crypto market, well, considering the fact that all the repayment is not scheduled to be made all at once and not all payments are to be done through BTC, I still believe there will be less to worry about, especially as they also want to pay their victims through fiat and other forms of crypto payment, which will reduce the amount of bitcoin that will be redistributed to users.
 
The only place that I believe there could have been some negative price impact is if they were planning on selling off all their holdings to make payment back to their victims using fiat. Then we could have started thinking about how much the price of bitcoin would dump, as it's obvious that it would dump. But right now, considering the halving that is coming, many people who will receive this payment might not be in a hurry to sell back, as they might want to wait for the next bull run in order to benefit from it.

Do we have a kind of list of the expected actions of those who were hacked in the past? If they were all going to sell then we might see a bit of a dump, but I don't think it'd be anything permanent. In addition, the exchange is going to only partially pay the loss, not to mention part of it is going to be through other coins (BCH and Japanese Yen as well according to the article). I don't think with all of those, we're going to see anything permanently done to the market, it may sway it down for a bit but I reckon a lot of others would consider it a buying opportunity if said victims were to just drop all of their coins in the market.

It would be a two way something, when the exchange was hacked in 2014, the price of bitcoin was less than $500 and right now the price is more 50x that price so some people will sell. Also other people will try to hold having in mind that another bull run might be here in one year time so they would like to wait for it. We can’t be certain which way it will go but one thing is any impact that it will be having will definitely be a short term impact and the market will return back to normal.

For me what bothers me on its impact on bitcoin future will be how naive people will address this issue. Some gullible people will have a renewed hope in storing funds in centralized exchanges Because they would believe they can get there funds return after any down fall and would prefer some platforms be their bank other than them holding their money in a non-custodial wallets

i don't think that kind of mentality will be for many. the situation in mt gox is one of the many hackings that turned out to have something at least. but it is years in the making. for sure, most users of that already lost their credentials to claim their funds lost. and do remember, most hackings won't return your funds. so for me, it is still best to secure your own funds rather than trust these CEXs.

Do not think too much just because of it, if there will be a negative impact on the market because everyone's going to dump.
Think that if it dumps, there are also a lot of buyers that are just waiting for another perfect opportunity to buy so that shall rise the price of it and that will show as a sign of quick recovery.
Honest take is it is good that for a very long time, those owners of those assets will now be refunded and many of them will enjoy their money so, dumping is no question.

It is logical for the receiver to take profit on their Mt. Gox BTC refund.  Since there will be a possible huge inflow of Bitcoin to the market, it is observed that the price would be affected.  I do not worry to much about this possible dump because when Bitcoin becomes cheaper people who miss out on the cheaper price will surely put a demand in the market slowly recovering the Bitcoin price.  We have seen several cases like this but Bitcoin is able to withstand it and even record new highs.

If massive sell off might happen after the refund then provably it can create an impact to the price of bitcoin knowing that many might get afraid to see what possible scenario might happen and other holders might dump first before it happen so we hope that we cannot see the worse and the refund will happen this year so that possibly by next year if bad thing will happen we can recover since halving hype might start and accumulation phase maybe can save this.

First off, congrats after almost a decade of waiting they will finally those funds. But I doubt these users will sell off their bitcoins once they receive them, unless they already stop believing bitcoin and just there for the refund. While on the other hand, those users who will get the refunds will probably hodl considering the price is still below 30k unlike 2 months ago.

I am not a victim of Mt. Gox so I don't mind about this case, a first reason.

A second reason is more important and you must know. Mt. Gox refunding is a news that has been recooked many times. Many times, news said Mt. Gox will start compensation distribution to their victims, soon or next month. Again, now we have another news, next month they will distribute bitcoins to victims.

You know, such recooked news is to fud the market, to create fear that when Mt. Gox distribution happens, the Bitcoin market will have big selling pressure from Mt. Gox's victims.

But I want to ask you, do you think the plummeting price of bitcoin is a good thing or a bad thing? Furthermore, many people always want to buy bitcoin at a cheaper price than the current price, so do you think if Mt.gox really released those bitcoins, would it be good or bad? What I find confusing is that people always say they will buy more bitcoin if it drops more, but there are many threads worrying about FTX or Mt.Gox causing bitcoin to drop more. To me, both of those events are more beneficial to us than harmful to us.

But I have doubts about Mt.Gox, this is not the first time there are rumors that they return assets to victims. Their promise could be made into a movie because it has been going on for many years, and so far, no victim has been compensated.

If you knew the amount of times that the refunds were delayed you would be skeptical that they would actually pay out next month.

This hack was almost a decade ago and people are still waiting for their bitcoins. So who knows when they will actually get it. Going to be some technical issue and it’ll get delayed again.

Its why I don't believe it will be refunded. If its hacked then it could be confiscated by the government instead and the only reason why they will try decieving people that it will be claimed is for them to ask KYC from those OGs.

Too paranoid you might say but then fact is that its claimed to be hacked and MtGox are gone. Coins that are hacked are lost coins.

There were quite a few "butthurt" people that came out of that hack, so you can expect many of them to just dump their coins... after they get refunded for some of their losses.  ::)

I am not saying this in a bad way.... but I think I would also be "butthurt" if I lost those coins back then. Imagine the life changing things you could have done, if you did not lose those coins and if you sold it at say... $60 000+

My mind is worse probably than yours. Even I am a little anxious if the BTC return is properly done. I don't know how big it is, but I'm afraid that the amount of BTC returned to users could make the problem worse. I've heard 2 times this BTC return news. But there has been no real realization. Although maybe Mtgox Users are waiting for this replacement.

After the refund distribution starts, the prices will probably nosedive since a lot of those people who lost coins at Mt. Gox in 2014 are probably lost interest in Bitcoin by now so will be keen to sell whatever is left of their balances - especially the ones who lost everything on Gox.

But as usual with these kind of things, the price will correct itself back to normal as if it had never happened.

There's will be no huge dump even the distribution is successfully done, just a short dump and then next few weeks the price will recover back.

However Mt.Gox refund has been discussed many times and they keep making delay to distribute the coins, don't expect anything because it's either not gonna happen or it will take very very long time to distribute all the money.

That wouldn't be possible for Mt. Gox to refund hacked user assets at the same time, of course they will refund in stages because their finances are also limited. In this period of time, most customers who get some of their assets back will probably sell their assets or they will hold them in their wallets. And because refunds are carried out in stages, when some users sell their bitcoins it won't have much of an impact on the crypto market in my opinion, in fact it will be like nothing has happened.

Every two months, news sites include this news. I don't know if it is FUD, or they cannot find new news, or there is an update to the news.

https://www.coindesk.com/business/2023/02/16/mt-goxs-2-largest-creditors-pick-payout-option-that-wont-force-bitcoin-selloff-sources/
https://cointelegraph.com/news/bitcoin-mt-gox-repayment-date-looming-is-bitcoin-in-trouble
https://capital.com/mt-gox-refund-repayment-details-deadline
https://coingeek.com/mt-gox-repayments-to-start-in-march-2023-nine-years-after-collapse/

These are links to four news reports that gave four different timings and all of them were not correct. Google contains hundreds of such articles.
The only constant is that they may get their money, but the question remains when.

I read that Cointelegraph article too, and I have to admit, it was about time Mt. Gox showed some responsibility. If you ask me, such massive refunds always have a catch. Remember, we're talking about 142,000 BTC, not just pocket change.

Now, lets entertain the thought of the potential dump youre fearing. If these victims, quite understandably irritated by the years of waiting, decide to sell their refunded Bitcoins, were looking at a potential price dip. But hey, its Bitcoin. It has been through worse and bounced back. The market is far more mature now. Still, for those victims, Id advise not to get too trigger-happy with the sell button. The essence of Bitcoin is its future potential, not a temporary price tag.

The users may likely sell their coins. Mt. Gox was hacked in 2014 and the price of bitcoin as at that time was significantly low. If bitcoin price after the hack was $37 and it plummeted 23%, that means the price before the hack was $45.51. If you compare that amount to the price of bitcoin today which is $26300, people will want to seel for profit. That is a huge profit. This can lead to a price drop but which might not be much.

Some holders, especially the short term holders and some traders will because of this sell some of their coins which will lead to more price fall. But what that will later happen is that some.people that are waiting for the price of bitcoin to fall, they will see it as an opportunity to buy. Some people that did not sell their coins may buy more, some people that DCA will see it as an opportunity to buy more and some holders and traders althat sell will buy. All these will result in the price of bitcoin to increase again.

He has just said that he will refund. But his actions are still questionable. Price of those many Bitcoins were different at 2014 and now it’s different, if we see then it’s almost 20x the price. I don’t think he will be able to return these many at once. Moreover it’s not guranteed that the users who will get the Bitcoins as refund will sell it instantly. They might try their luck and hold it for the next bull run.

I think they will further delay the refunding process. Like they did before. According to my information, the last deadline for selection purposes was Jan 10, then it changed to March 10 then it increased to July 31, and then after the trustee increased the selection process dates to 30 September 2023. And who knows if they still increase the dates after Sep 30. If they do increase the dates then we might not see the distribution of funds in October.

Besides all that, we all know that only rumors have put bad impact on the market, then imagine what would happen if the distribution really took place, the market would definitely go for a dump. And even many big analysis are also saying the same thing. Because people are so frustrated right now, and after getting the funds back they might try to book some profit. I don't know why the following analyst said that:
If the victims are to get funds back in the form of BTC then the value must be the same of course. This means the value in dollars will be increased till now.

Maybe that's why people are saying that victims will sell off their BTC after receiving them. But I think those who are Ok (mostly people will be OK till now, as if they can live for 9 years, then they might be in at good state now.) but besides that most who have to stabilized their financial life might try to hold those BTC, but those who are under huge debt might want to lower it, or maybe if someone is in an emergency then they might also try to sell their BTC. Point is, market will make a big dump but it will be temporary so, holders won't mind it but traders will.

As far as I know, Mt.gox will pay in many different coins, not just BTC, and it all depends on the victim's choice.  but if those who choose bitcoin and decide to sell their bitcoins immediately after receiving them, there is nothing to regret because if you compare bitcoin prices in 2014 and now they have actually made a very significant profit.  remember that taking profits is never wrong.  but if they don't need the money urgently, continuing to hold should really be considered because bitcoin's upside potential is still huge.

From everything that could be read, not only will payments be possible in BTC and some shitcoin, but the victims could also opt for the payment option in fiat. In addition, it should be noted that not everyone will be paid at once, and considering the Japanese efficiency in this case, I would not be surprised if the whole thing takes years.

I think I could coin a saying that would read "God forbid that your CEX gets hacked, and even less if that CEX is in Japan".

I'm rather curious what makes you think the price will immediately bounce back after this?
The price is going down right now and has been doing so, another influx of coins to be sold on the market for sure it will make it go lower, so what would cause the pump again, and why was not happening prior to this, like a bump back to 30k or 35k?

Asking cause I've heard that at 40 at 35 at 30 and here we are still not bouncing and if this continues for sure almost everyone that is in profit over MtGox will dump, it's been 10 years, some of those that had coins at MtGox had been retired, look at the age of some of the early investors that were around that time, Gavin is 57! Andreas is 51, Saylor is 58, Tim Draper is 65!!!!! A lot will not wait for the "recovery" and if that is 4 years in the making do you think they will give a damn anymore?

Many news sources will want to keep updating the victims about the funds that may end up not refund since all of these news is carrying different refund date, perhaps we will await the official announcement from the team itself to know if there is hope of refund.

I don’t know but I didn’t trust them and they might end up not repaying the victims since they know that their exchange has already lose its reputation in the cryptocurrency space.

It's not a huge dump, geesh. 500 million against a 500 billion market cap timed out over weeks.

Peoples reaction to the news I would suspect be greater than the actual event.

Buy

I think it's wonderful if the victims get some of their lost funds back, and we, as a community, should focus on being supportive of such a decision and hopeful that it'll promote similar steps in other exit scam crypto exchange situations. If victims get their money, there's no reason to believe that they'll all decide to sell their long-awaited BTC now, at the same time, on the same exchanges. Some will sell immediately, some will wait for some time, some will hodl. Some will use local exchanges, some will use international ones. I think that in the end there won't be a major dump to affect the global market.

It's 5 billion and the size is irrelevant to the market cap.
For example, the 500 billion is made out of these coins too and at least 10% of it is made from easily mined coins that have never been moved, so it's not like people have poured till now 500 billion into Bitcoin. And more importantly, what matters is not the virtual value of those coins, but how much money is available right now for further investments. Do you think there are 5 billion waiting on line to gulp those coins at any moment?

Cause if there aren't and let's say just half of this awaits in buying orders then go to the largest pair and do a simulation what a 5000 not 100k BTC BTC dump would cause !



There is no longer a "them" or an "exchange" the funds are overseen by a trustee appointed by the court, and nobody from the former exchange hs any say in it anymore.

I never trust any centralized site because they're just giving fake promise, this refund plan might be an another bullshit.

I think someone which was a victim from Mt Gox should need to post in this forum if Mt Gox is really distribute the money, hearing a news or from untrusted source are nothing as the medias always want to report news as much as possible.

It is a good and also a challenging news. It is good that people who lost their funds will be able to get it back. These refunds will be a big financial relief to some of them who are going through financial problems. It will also debunk the claim or fear that most people have that cryptocurrencies are unrecoverable. This might make people build confidence in the bitcoin space. I am also speculating that it is not all the victims that will dump their coin, some of them might keep hodling it.

The predicted resultant dump will also have a positive and negative effect. It will not favor investors who are projecting to sell their coins during the period of the drop in price due to the dump. But it will be an opportunity for long-term investors to buy more coins at a cheaper price. But as it has always been the case the price will recover but I can't predict when.

I've heard the Mt.Gox discussion with the refund but until now there is still no news, I suspect it will not be in the near future but wait a few more years.

Don't fully expect them to return it, it's like a lie even though there have been several other statements.

Are you worried about the potential price? It's not going to happen, for example FTX will be selling assets for weeks to come will there be an overreaction from the market? For me this is part of the FUD that is trying to weaken their mentality but the reality is that it will not happen in the near future.

To me it will definitely affect the market negatively. It's The demand and supply of coin in the crypto market that determine the price. The lesser the coin the higher the value. If this numbers of bit coin comes to the market, the victim of the hack Mt. GOX will start to sell. Because a long awaiting opportunity has come. So when they start selling the price of btc Will gradually start falling. And other investors that are waiting for Bitcoin to clinb $70-100k will also start selling ontil Bitcoin will reduce to a lesser price. People who sees it as an opportunity will start buying on dip and it will take time for the market to recover maybe few years later.

This is not the first time that bitcoin price have been predicted to fall due to the consequences of the return of lost money on the Mt. GOX exchange after the crash. Promises to return this money to the previous owners were voiced repeatedly, but they have not yet been returned and each time they delayed this moment. I’m afraid, to the chagrin of those waiting, next month they will not get back what they lost and the price of bitcoin will not fall (at least for the reason described by OP). What about this news - https://decrypt.co/156498/ftx-gets-approval-to-sell-bitcoin-ethereum-solana? Maybe we should be wary of a collapse of bitcoin because of this?

Looking at the year’s gap, how do they intend on carrying out this refunds, considering the fact that not all of the victims will be able to get access to the refund information, many might be deceased, and some lost interest to the internet as I believe most of those victims might be old by now as they will be on the edge of testing any new thing back then.

On the aspect of the effect which this kind of news is going to cause on the price of bitcoin, base on the time of the news and the price of bitcoin today we can see that the price of Bitcoin has added some positive energy to how it was the past few days, which if it was as it use to be before, news like this in regard to the volume of bitcoin which is to be distributed over to some folks who might appears to be hungry sellers, we could have been seeing a price drop. But since it didn’t happen that way, which means we are stronger than ever, and even if those who will be lucky to reclaim their funds happens to sell off all that they will receive, the price of bitcoin will only be shake a little and with time which I believe won’t take long it will resurface up again, this is just my own little prediction.

Last time I heard that Gox was finally about to release the coins was last year and they were about to do it by the end of 2022.

Nothing like that happens without a reason and I believe there's a group of people and media outlets that actively suppress the price of bitcoin by scaring people away with news of incoming dumps, whale addresses waking up, FTX coins being prepared for sale and so on. Why are they doing it? The simplest explanation is that they want to keep the price low before the ETFs are approved.

Most people who were waiting for their coins for 10 years are used to waiting. Dumping it all before the halving wouldn't be the smartest thing to do and they know it. What's another 6 months for someone who held for 10 years? Most people are going to spend some and keep the rest. At least that's what I'd do.

As anyone gotten paid already or it's another rumour? It's not the first time that I will hear that payment to all those affected years ago has begin, it's all a lie or rumour until it's unproven not to be, I do not think it's ever going to happen again.

If this do happen, it's possible that there will be a massive sell off and it will affect the price of Bitcoin and other crypto assets too, it's not something I will worry myself about, the thing is I hope those who are affected have learned their lesson.

Till today too many people are feeling relaxed about using centralized crypto exchanges to store their coins, those who got hacked are the one that got the bad ending, says people that are using CEX for keeping their assets.

It was MT.GOX years ago, it was FTX not too long and yesterday it was Coinex, maybe it will be Coinbase tomorrow, so instead of keeping your coins on exchanges  ( they never belongs there) it's better to keep in your private crypto wallets.

I agree but I think that it's gonna be hard to have that someone post his experience in here. Although they're not obliged to do it, there be some other platforms where one of them who receives the refund will share his/her experience.

Actually, it's been so long when we've heard them if they're done distributing it. But it seems that until now, it is still on the process and incomplete.

9 years have already passed since the hack, does anyone really think that after such a long time Bitcoins will be returned? Only when I see that many people write that they received payments of their bitcoins from the MTGOX hack, then I will believe that this process has really begun. This is all because I am almost sure that this won't happen. And even if this happens, some are no longer with us, some have lost interest in crypto, some have forgotten about it and other reasons. When they say that there will be pressure on the price, there will always be those who will buy these bitcoins at a great discount.

I was surprised to see this article as I've had no communication that any distribution is incoming.  They claim in the article the refunds will be sent out by the end of next month.  While this would be great news, it is surprising to see someone making this claim.  I would assume that if the distribution was this close that I would have received some sort of notification.  In any event, this along with the FTX liquidations and forced selling at Binance should create the final buying opportunity before the next leg up.  Right on schedule.  A little too convenient if you ask me.

Since how many time with refund issues from Mt Gox exchange have been published more than several years later I don't believe yet with new issue with repayment or refund for Mt Gox user. For OP if have assets in that exchange better not huge expectation because this exchange have promised several time about refund BTC assets to their user, actually is not possibility during loss Bitcoin fund still in lower price and today Bitcoin have been up drastically and looks difficult how to recovery with their user fund.

Don't fully trusted with exchange have been scam will back one day later and refund all user fund, its their trick how to make user keep optimistic about refund or repayment issues publishing every year although how many time giving fake promise and user of Mt Gox never get back their fund until 7 years this exchange have been hacked.

People who are spreading rumors that a dump is coming are probably the same idiots who were saying that when every US bitcoin auction was being announced. Every time there was a bunch of FUD by people who opened short positions and wanted to start a panic and every time the rumors ended with nothing.

Think about it for a moment. You're given a million dollars in bitcoin today for whatever reason. What do you do?
a. dump it all on exchange
b. pay your bills, buy all the necessities and hold the rest
c. keep holding because the halving is around the corner

It’s a bit of a dark cloud over the space but I’m goad it will finally get resolved so the FUD on it is over. I have mixed thoughts about what could happen. I mean the obvious thing is big FUD & a mass dumping of coins that have been inaccessible for so long. On the other hand, these guys have waited for so long, they’ve seen bitcoin go from basically nothing to what it is now. Massive after not being able to sell, they will now HODL so the dump won’t be that bad.

Well, they had the announcement, do you think authorities will make a joke on this matter? It has been on the news that Mt. Gox victims will be having a refund.  Although it is possible that not all will be accomodated but I believe that the distribution will commence.

When these Bitcoins get into the market, we know that the market will react negatively due to the sudden increase in supply if the Bitcoin refunded is put in the market to be sold by their owner.   It is the best time then to buy more Bitcoin because the price would be at a discounted price by then.

Nobody knows for sure. But I think timing the refund at this opportune time when the people's confidence with bitcoin is just recovering is a good one, as it puts them at the crossroads of cutting their losses and cashing out of their investments, or holding on to it until they actually get something out of their money. What happened with Mt. Gox isn't something that they warranted at all, so I don't think they got bad rap from this despite the fact that people lost confidence in bitcoin, so despite the notion that this may refund may push people who lost their money back then to cash out and take their losses, given the fact that they'd probably return loss money based on 2014 charts with consideration to inflation and all that, this may just push people to just hold it for the meantime.

If the government really cares about this issue, why has it been 9 years and no one has received their bitcoins back beyond Mt.gox's promise? It is true that they did not confirm that they will not compensate the victims, but so far has anyone received even the smallest amount of compensation? 

Mt.Gox has launched multiple compensation options for investors, be it USD or some altcoins, not just BTC. Therefore, we cannot know how many bitcoins will be distributed to the market if MT.gox actually compensates investors. Furthermore, the BTC refunds will last for several years, they will not pay out all at once, so there is no guarantee that it will put pressure on the market.

Why does the resolution seem to be a mirage in a huge financial wasteland? Its been nine long years, and promises seem to be getting less clear. When we look at what the government is doing, we might think that, with all of their money and power, they have an easy win in this game. Still, we're still getting fuzzy promises.

Mt.Gox has, in fact, given a lot of choices. But truth is still hard to find among all these options. We've been given a hand with several cards, but we dont know which one is the best. Even though I understand that the BTC returns might take a while, Im not sure that it would change the way the market works in a big way because it will happen slowly. Our best bet might be to be patient, but many people are getting tired of this plan.

I don't want to disappoint the victims of the collapse of Mt. Gox. But honestly, I also don't believe they will refund those bitcoins this October because we all know they've been talking about this for almost a decade. And up to now, they continue to give false reasons and promises, making the victim increasingly impatient and leave. I doubt that is their plan, they did not say they would not compensate and they are trying to buy time to make the victims give up on the idea of compensation and they will appropriate those BTC legally.

I will never believe that MT.Gox will return the bitcoins or that FTX will sell their assets and that will affect the market. It's all just a trick of someone trying to manipulate the market and trick us into panicking into selling off our assets.

It's not news, it's the date that was decided in the last meeting by that master of postponements Kobayashi.
https://www.mtgox.com/img/pdf/20230309_announcement_en.pdf


The article just made it sounds like it was decided now but everyone knows about it from March, if I recall correctly in May they had the final amendments on that plan so they can't really change anything anymore, just again postpone it.

------


A final court decision on a rehabilitation plan is a rumor or a lie to you?


What makes you think they will not?


Yes we all know the numbers, you just have to use Google to find all the documents stating the amount held by the trustee right now.


The coins are no longer held by MtGox and there is no MtGox anymore.

Guys seriously, rather than making one foot long pyramides quotes why don't you make a single search or if that's impossible for you and you still need to voice your opinion without knowing one thing about this issue why not tone it down a little?

If about 850,000 BTC were lost on the exchange of Mt. Gox, does that mean that Mt. Gox will also return the Bitcoins that their customers who entered assets on their platform did not get? Because I didn't see in the article whether they will return it in bitcoin or in fiat?

Because if they return it to Bitcoin, I can say that it was worth the wait for those who were victims of it in 2014 because, obviously, by that time the value of Bitcoin was still very low compared to today. Apparently, it will appear that they have grown a lot more.

It also seems that they only hold long-term positions in Bitcoin if I just look at that news.

There have already been many refund requests over the years. Will the next one be true? I will only believe the actions when the affected users see the money in their wallet, not these endless fake news. The authors of these articles will also continue to earn money by publishing articles on this topic. There were already a lot of them. I don’t even want to read them if they continue, sorry for the frankness.

Despite various arguments and articles from authoritative publications, I believe that this has taken too long. If they wanted to return it, they would have done it within 5 years maximum. This time is more than enough despite all the complexity. Perhaps my opinion is too naive, but it is what it is.

Even if the refund process is slow, it is still expected that people will panic, as they believe that over time, the price will drop. However, as long as the refund process is ongoing, the price is likely to slowly rise. I actually view this as positive news for the market. It may have a temporary negative impact on the price, but the fact that a major exchange from the past is in the process of issuing refunds should increase confidence among traders and potential investors.

So, if there is a price drop, always consider it an opportunity, as it is likely to be short-lived.

People will get panic if there's frequent news will release about it and the intention is to scare people. Since we can't deny that many will get afraid for their holdings since the amount to be return to their clients is so huge so it can affect the way how people look at the market situation. That's why we also need to get ready on possible effect so that we can take proper action whether to buy or sell.

If you are a long-term investor, what do you need to prepare? I see no need to prepare anything other than always having money in reserve and if the market plummets, we can take advantage of it to buy more, but there's nothing else we can do. I just consider it just the movement of the market, nothing more and nothing less.

However, people also need to remember that the Mt.gox's drama has been going on for 9 years now and do people really believe that it will end? Or someone intentionally took advantage of this news to manipulate the market like so many other times?

And there was another push on the dates again, from October Oct. 31, 2023, to Oct. 31, 2024.

https://www.talkimg.com/images/2023/09/28/PIZMD.png

https://www.mtgox.com/img/pdf/20230921_announcement_en.pdf

So obviously, the repayment will have to wait for another year. For sure this doesn't sit right with those victims who have submitted the necessary papers to claim what is rightfully theirs. So the whole process is a little bit of chunky and regardless of the current price of BTC, they should have gotten it by now. Oh well, another delay another frustrations and it really seems we can't exorcised the demons of Mt. Gox.

Reports emerge suggesting Mt. Gox creditors are receiving repayments (https://cointelegraph.com/news/mt-gox-creditors-repayments-received-social-media-reports)
Creditors of the long-defunct Bitcoin exchange Mt. Gox have reportedly started to receive fiat repayments for their Bitcoin, which had been trapped on the exchange since February 2014, according to numerous reports across social media.

On Dec. 26, several posts from the Reddit page r/mtgoxinsolvency suggestethat Mt. Gox had been sending Japanese Yen-denominated repayments to users via PayPal — nearly ten years after the funds had become locked on the exchange on Feb. 24, 2014.

"I just got paid," claimed Reddit user Free-end254, attaching a screenshot of the email that contained the PayPal receipt of payment.