Who would gox owe money to other than their customers and employees? Rent for their office and servers? Or maybe a big bank loan to fund a crappuccino addiction? Lawyers?
It just doesn't seem like their expenses were that big.
Employee income. I don't think Mark was making minimum wage.... Really ? So a judge will declare : Yeah, we could take money from Mark, since he is guilty and all, but instead we will take from the 5 btc most of the users have on mt gox. We will leave poor Mark alone. And everyone will be ok with this, and nobody will accuse the judge of corruption. I was reacting to your "It just doesn't seem like their expenses were that big." comment where "were" implies the past. It could well be that MtGox was paying employees very good wages and after the coins were lost their millions of profit evaporated leaving a very negative balance. Since wages are already paid you can't really get the money back. Anyway I don't actually give a crap since I had 0 BTC in Gox. Do hope that Mark gets locked up for this. |
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--c===8 Coin  |
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People keep spreading FUD, if they were real, bitcoin got banned like 35206225690810847308 times already.
It would have been $0 years ago  |
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Who would gox owe money to other than their customers and employees? Rent for their office and servers? Or maybe a big bank loan to fund a crappuccino addiction? Lawyers?
It just doesn't seem like their expenses were that big.
Employee income. I don't think Mark was making minimum wage.... |
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Bitcoin's Horoscope for week of April 17, 2014 In 1937, physicist George Paget Thomson won a Nobel Prize for the work he did to prove that the electron is a wave. That's funny, because his father, physicist J. J. Thomson, was awarded the Nobel Prize in 1906 for showing that the electron is a particle. Together, they helped tell the whole story about the electron, which as we now know is both a wave and a particle. I think it's an excellent time for you to try something similar to what George did: follow up on some theme from the life of one of your predecessors, parents or mentors; be inspired by what they, he or she did, but also go beyond it; build on a gift that they, he or she gave the world, extending or expanding it. * SACRED ADVERTISEMENT. The oracle below is excerpted from the book PRONOIA Is the Antidote for Paranoia:How the Whole World Is Conspiring to Shower You with Blessings.
* The information you seek is available in the library of forbidden knowledge, the damp autumnal loam you dreamed you were buried in, and the song you learned before you were born. When you find that information, you will be able to answer this question: What are the three miracles that are most likely to happen to you? What are the three miracles that are most likely to happen to you? 1. The miracle of life 2. The miracle of death 3. The miracle of Bitcoin |
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If they sell 200k they are not going to do this through an exchange using a market order.
It's far easier to sell 10K or 50K chunks of bitcoin to buyers at 80% market price or something.
Agree but that doesn't stop those people dumping them for instant 20% profit. Welll ehhhh ..... Sell 10K or 50K instantly you will lose more then 20%. Also why would you assume whales would directly dump them? A lot of startups like Winklevoss, secondmarket, etc. want those coins so they can make stocks out of them. Probably governments secretly want bitcoins because they want power over people. I didn't say instantly dump them as in market sell but dump them over the course of a few days. Lots of reasons such as instant guaranteed profit, the general drop in the market would mean you could buy the majority of them back. Why would you assume that wouldn't be the case? Taking your theory then where selling 10k would drop the price 20% only 5% of those coins need to find there way to market for the price to drop and that number heading to general exchanges is very likely. They're all theories and we won't know exactly what happens for quite a while I'd imagine but to think that 200k coins suddenly being out in the wild is not something that could drop the price is a bit naive. I do think that there will be some dumping of the coins by weak hands, I don't think it will effect the price that much. Looking at their incentives it is obvious in my opinition - Curator wants to get rid of the coins quick and it's not his money so sell with a loss. - The buyer gets cheap coins and has the time to sell it slowly (if he doesn't hodl). Sell it too fast and bitcoin goes into the shitter. The market might be going sideways for a while. |
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If they sell 200k they are not going to do this through an exchange using a market order.
It's far easier to sell 10K or 50K chunks of bitcoin to buyers at 80% market price or something.
Agree but that doesn't stop those people dumping them for instant 20% profit. Welll ehhhh ..... Sell 10K or 50K instantly you will lose more then 20%. If a curator wants to get a quick resolve then he must sell for a price that will sell instantly. He/She does not have the time to sell them him/herself. Selling 200K for the last price will never be done so the price must be <100% current price. Also why would you assume whales would directly dump them? A lot of startups like Winklevoss, secondmarket, etc. want those coins so they can make stocks out of them. Probably governments secretly want bitcoins because they want power over people. |
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After the cursifiction of bitcoin by the bears (bottoming), Jesus comes out of his tomb, buys the 200k goxxed BTC and then give them back to the poor goxxed people. Effectively makeing bitcoin go to the heavens like Jesus himself will do |
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If they sell 200k they are not going to do this through an exchange using a market order.
It's far easier to sell 10K or 50K chunks of bitcoin to buyers at 80% market price or something.
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If they are going to liquidate it would be more likely that the Winklevoss twins buy Mt Gox assets for a few million (bargain bitcoins).
Bitcoins will go into the trust and bitcoin gets more scarse and price goes up and not down.
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Correct the Whisk(e)y type is a giveaway for the trader type
so what that makes me if I mainly drink this one, a hodler?  PS nice stuff, I recommend getting a bottle asap if you like islay (and I wouldn't drink that last one if I were you ). Ok the 1990 Lagavullin is 23 years old but the years don't count when bottled. It has been double matured so it is 16 years of age (correct me if i'm wrong). This is a very good whisky that competes with more expensive whisky. What kind of a trader: This would make you a Hodler that has been in the game for a while and doesn't have much to lose. You probably have "enough" bitcoins for hodling and use excesses to trade a little bit (fun money). Since you do not have much to lose you do short term trading and try to be a "strong trader" which you are not quite at the moment. P.S. Lagavullin 16 year is nice but I've always wanted a distillers edition. Sherry cask whisky is nice |
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Let's take that sixth whiskey *burp*
Everyone takes one too much, once in a while. Your selection of whisky depends on your choices and your character, however: ....snip... Correct the Whisk(e)y type is a giveaway for the trader type "HODlers" Use a good basic single malt whisk(e)y >10years of age or a good Tennessee/bourbon whiskey since they have to consume quite a lot to keep them from the urge of selling.  "Strong hands"They are either whales or people better off. The consume 18year or older whiskey. Whales take 30years or older ofcourse. They need the least whiskey since they don't care so quality must be high.  "Weak hands"They put all of their money into bitcoin and have to drink the really cheap stuff. They have no money for glasses so drink from the bottle in high volume. They also cry-wank when pressing the sell button when selling at a loss.  *crap whiskey a friend got and refused to serve me. Also has a typo on the bottle (Flavour = English not American). |
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If you can afford to loose the money then I would hodl for 3 to 5 years and see where this train goes to. This is one of those few times in life you get to make it big, no lottery ticket or casino table can give you better odds. I myself am not selling before I can buy a big house for my double digit bitcoins. Sounds crazy, but I like crazy I also fully accept the fact that I will probably end up with $0. |
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What is a "strong hand" and a "weak hand"?? Does this imply bitcoin is some kind of investment scheme? I thought it was a currency.
You can invest and trade in currencypairs it's been done for many many years . An investment scheme is usually a company that trades for you and tells you it will make a good profit and lose your money "Weak hands"are people who feel compelled to sell when the market takes a small dip, they give into fear or they have invested with money they cannot afford to lose (also fear). They panic sell. (e.g. The market just went down $10 O-NO quickly sell before it goes down $20. If it does I can't afford to pay back the loan I took out for bitcoin) "Strong hands"are people who only sell at their targets. (e.g. I will sell at $2500 or if it goes below $200) "HODlers" are the ultimate strong hands and go for max profit or max pain. (e.g. I will sell at 100k or go down with bitcoin. Let's take that sixth whiskey *burp* while the market takes a $600 dive) |
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Moneyrace If countries figure out that this will be the basis of new wealth distribution or inter-country money system (like a new federal reserve) it might go viral. China, US and other countries will fight each other over the coins causing the prices to go sky-high and hodlers to become billionaires |
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Gox's 200,000+ btc is going to be liquidated soon, and that could be bullish or bearish depending on how you look at it. Some people view the recent positive assessment by financial analysts as bullish. I don't really see much on the horizon right now that would draw the masses that we'd need to go from $500 to $5000. The average person who had heard of btc has only heard negative things about it; hacks, stolen coins, drugs, nerds, etc.
How can a sudden rush of supply be good? If liquidating you do not want to kill the market unless you want to kill bitcoin. True that this would cause a sideways market for a long time if they dump the coins for fiat. On the otherhand if all goxxed get their BTC then it could trigger more trading, hodling or usage of bitcoin which is good. |
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They could just be squeezing the last bit of profit from their investments.
My opinion: When a stock rises and you can manipulate it you can make a lot of little profits on the way up by forcing it to collapse by selling. Buy walls, sell walls forcing the market to become volatile and predictable for the whale manipulating is. This way a whale can make multiple times the money on a rising market. When we get to da moon the whale will be on mars |
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Holding is not easy.
Not at first, but after you see Bitcoin being Bitcoin long enough it becomes a lot easier and far less stressful. HODLing becomes easier after a while. For me bitcoin <$100 will still allow me to get my money out because of the long hodl. If you bought at $1000 then HODLing is more of an art. Get pissed and hope for the best |
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