Why this panic selling is good

[alyssa85]

Karpeles has no control over the coins, and the Trustee sold months ago. Please read this thread:
https://www.reddit.com/r/mtgoxinsolvency/comments/82m0dl/mtgox_trustee_has_sold_some_btc_and_bch/

Now I take it we can conclude that the weight is gone and that we should be heading towards 20k right about now? I have been watching Bitcoin slowly take over market share the last couple of weeks and it is akin to what happened prior to 2017 was up. Don't know if Bitcoin and alts will make a run, but it sure does look this way right now.

Nope - he still has another 160,000 coins to sell. He's only sold a fraction so far. If he keeps dumping them on exchanges, the price might go to $1000.

[sindikat]

Karpeles has no control over the coins, and the Trustee sold months ago. Please read this thread:
https://www.reddit.com/r/mtgoxinsolvency/comments/82m0dl/mtgox_trustee_has_sold_some_btc_and_bch/

Now I take it we can conclude that the weight is gone and that we should be heading towards 20k right about now? I have been watching Bitcoin slowly take over market share the last couple of weeks and it is akin to what happened prior to 2017 was up. Don't know if Bitcoin and alts will make a run, but it sure does look this way right now.

Nope - he still has another 160,000 coins to sell. He's only sold a fraction so far. If he keeps dumping them on exchanges, the price might go to $1000.

He can't dump the coins in the bin. Someone's buying them. So there is a stable demand. The price of course will fall but it is quickly restored after the reset. I like that the coins will be distributed to different users. This will make the price more stable and predictable. Whales is always trouble for the users of cryptocurrencies.

[fabiorem]

He can't dump the coins in the bin. Someone's buying them. So there is a stable demand. The price of course will fall but it is quickly restored after the reset. I like that the coins will be distributed to different users. This will make the price more stable and predictable. Whales is always trouble for the users of cryptocurrencies.

If the whales arent buying it.

[Tzupy]

Karpeles has no control over the coins, and the Trustee sold months ago. Please read this thread:
https://www.reddit.com/r/mtgoxinsolvency/comments/82m0dl/mtgox_trustee_has_sold_some_btc_and_bch/

The trustee has been selling in batches, not "months ago":



As you see, the last sale was very recently, and it was the biggest one at 6k.

Apparently he has to sell to pay the creditors, THEN the remaining coins will go back to Karpeles, or that is my understanding, which is pretty shocking, since we will be at the mercy of this fat ass selling or not. I hope he isn't dumb enough to crash the market.

The first sale was in December, the last sale was over a month ago, so "months ago" applies. The MtGox sales had nothing to do with yesterday's dumps.
And I strongly complained about the last sale, I believe he panic sold like a n00b, close to the bottom.
On the 5th February I posted in this forum that a bottom is close, and I bought on the 6th at 6,277$, while the Trustee made a 50 million $ mistake.
The remaining coins might go back to Karpeles, whose recent posts on reddit are bearish, but only if Civil Rehabilitation will be rejected by the Court.

[jimbo2000]

Karpeles has no control over the coins, and the Trustee sold months ago. Please read this thread:
https://www.reddit.com/r/mtgoxinsolvency/comments/82m0dl/mtgox_trustee_has_sold_some_btc_and_bch/

Now I take it we can conclude that the weight is gone and that we should be heading towards 20k right about now? I have been watching Bitcoin slowly take over market share the last couple of weeks and it is akin to what happened prior to 2017 was up. Don't know if Bitcoin and alts will make a run, but it sure does look this way right now.

Nope - he still has another 160,000 coins to sell. He's only sold a fraction so far. If he keeps dumping them on exchanges, the price might go to $1000.

He can't dump the coins in the bin. Someone's buying them. So there is a stable demand. The price of course will fall but it is quickly restored after the reset. I like that the coins will be distributed to different users. This will make the price more stable and predictable. Whales is always trouble for the users of cryptocurrencies.

If there's a stable demand then the price will fall. The only way the price won't fall is if there is a surplus of demand at that price over supply.

It's not been that quickly restored and these have only been a fraction of the coins, let's hope that the rest don't get sold or there's some sense seen and they're auctioned privately.

Whales are no more trouble than many individuals if they act rationally. 100 people dumping 100 bitcoin each is the same as 1 guy dumping 10k bitcoins.

[liivii]

Karpeles has no control over the coins, and the Trustee sold months ago. Please read this thread:
https://www.reddit.com/r/mtgoxinsolvency/comments/82m0dl/mtgox_trustee_has_sold_some_btc_and_bch/

Now I take it we can conclude that the weight is gone and that we should be heading towards 20k right about now? I have been watching Bitcoin slowly take over market share the last couple of weeks and it is akin to what happened prior to 2017 was up. Don't know if Bitcoin and alts will make a run, but it sure does look this way right now.

Nope - he still has another 160,000 coins to sell. He's only sold a fraction so far. If he keeps dumping them on exchanges, the price might go to $1000.

He can't dump the coins in the bin. Someone's buying them. So there is a stable demand. The price of course will fall but it is quickly restored after the reset. I like that the coins will be distributed to different users. This will make the price more stable and predictable. Whales is always trouble for the users of cryptocurrencies.

If there's a stable demand then the price will fall. The only way the price won't fall is if there is a surplus of demand at that price over supply.

It's not been that quickly restored and these have only been a fraction of the coins, let's hope that the rest don't get sold or there's some sense seen and they're auctioned privately.

Whales are no more trouble than many individuals if they act rationally. 100 people dumping 100 bitcoin each is the same as 1 guy dumping 10k bitcoins.

So right now there's no demand on bitcoin so the price gradually drop and the people who panic sell their bitcoin helps the price go down and that's the problem. I think it will still continue for more months so expect the unexpected. But I'm still hoping for bitcoin to rise again, surpass these problems and go back to its normal system.

[vintages]

Exactly, we all should buy more and hold. Whatever issues or ups and downs that we might be passing through now in cryptocurrency is actually a phase that we all will pass through and its just a matter of time. It may not even be the demand flow that is causing the instability in the price of bitcoin probably an internal manipulation that is yet on unknown. Even if Karpeles continue to sell off, bitcoin price will pump soon.

[Starone1]

Looks like whoever is in control of MtGox's coins (is it still Karpeles? anyway) is selling, most likely creditors will get their money back finally and the MtGox saga will finally come to an end, which means all these coins will be in the hands of different people.

There is also the coincidence of the Binance hack which coupled with the Gox sale, has made a lot of noobs panic sell.

The sale has been happening since December and we still managed to go 20k, which means that after we get this weight out ouf shoulders we will be at 20k+ easily because the bull pressure is too big.

Hold and buy every dip as possible.

Everyone have his own idea and the way of work some people they are fast in selling and some of them they want to wait for a long time to get extra profit as far as I know about bitcoin if we wait for a small time or for a long time but still its price is high but if someone want to get extra money then he have to wait for some time.

[aardvark15]

Looks like whoever is in control of MtGox's coins (is it still Karpeles? anyway) is selling, most likely creditors will get their money back finally and the MtGox saga will finally come to an end, which means all these coins will be in the hands of different people.

There is also the coincidence of the Binance hack which coupled with the Gox sale, has made a lot of noobs panic sell.

The sale has been happening since December and we still managed to go 20k, which means that after we get this weight out ouf shoulders we will be at 20k+ easily because the bull pressure is too big.

Hold and buy every dip as possible.

I didn’t realize that the Mt. Gox coins are now going back into the market. Anytime a bunch of coins flood the market to increase supply, demand obviously drops temporarily.

I hope that Satoshi doesn’t sell his stash of coins because that will crash the price much worse than this. The only thing good out of the current sale is that buyers can get cheaper coins at least for a little while.

[djgtr]

Karpeles has no control over the coins, and the Trustee sold months ago. Please read this thread:
https://www.reddit.com/r/mtgoxinsolvency/comments/82m0dl/mtgox_trustee_has_sold_some_btc_and_bch/

The trustee has been selling in batches, not "months ago":



As you see, the last sale was very recently, and it was the biggest one at 6k.

Apparently he has to sell to pay the creditors, THEN the remaining coins will go back to Karpeles, or that is my understanding, which is pretty shocking, since we will be at the mercy of this fat ass selling or not. I hope he isn't dumb enough to crash the market.

The first sale was in December, the last sale was over a month ago, so "months ago" applies. The MtGox sales had nothing to do with yesterday's dumps.
And I strongly complained about the last sale, I believe he panic sold like a n00b, close to the bottom.
On the 5th February I posted in this forum that a bottom is close, and I bought on the 6th at 6,277$, while the Trustee made a 50 million $ mistake.
The remaining coins might go back to Karpeles, whose recent posts on reddit are bearish, but only if Civil Rehabilitation will be rejected by the Court.

Many people are doing panic selling because it is the quickest way to solve any matter when having no choice. Especially those people who have short term patience when ithey think the price is satisfying. It is good somehow because through panic selling you can easily have your money and you are worry free. At the same time when you eventually get a higher selling price then possibly you can get higher profit too. That's why it is good.

[dothebeats]

It seems clear that even with the recent dick move made by this noob agent, we still have the power to absorb all the heavy selling pressure from just a single noob. This could have been prevented if the said person have listened to the advice of the Kraken CEO: auction the coins or never sell at all. They need to pay the creditors, that's understandable, but if you're given options to liquidate without crashing something, why wouldn't go that route? Anyway, what pisses me of is that there's a possibility that this fat otaku Karpeles would likely benefit in the end of all this, and given his current posts,he might continue to just sell the coins in an exchange anyway.

[jimbo2000]

Karpeles has no control over the coins, and the Trustee sold months ago. Please read this thread:
https://www.reddit.com/r/mtgoxinsolvency/comments/82m0dl/mtgox_trustee_has_sold_some_btc_and_bch/

Now I take it we can conclude that the weight is gone and that we should be heading towards 20k right about now? I have been watching Bitcoin slowly take over market share the last couple of weeks and it is akin to what happened prior to 2017 was up. Don't know if Bitcoin and alts will make a run, but it sure does look this way right now.

Nope - he still has another 160,000 coins to sell. He's only sold a fraction so far. If he keeps dumping them on exchanges, the price might go to $1000.

He can't dump the coins in the bin. Someone's buying them. So there is a stable demand. The price of course will fall but it is quickly restored after the reset. I like that the coins will be distributed to different users. This will make the price more stable and predictable. Whales is always trouble for the users of cryptocurrencies.

If there's a stable demand then the price will fall. The only way the price won't fall is if there is a surplus of demand at that price over supply.

It's not been that quickly restored and these have only been a fraction of the coins, let's hope that the rest don't get sold or there's some sense seen and they're auctioned privately.

Whales are no more trouble than many individuals if they act rationally. 100 people dumping 100 bitcoin each is the same as 1 guy dumping 10k bitcoins.

So right now there's no demand on bitcoin so the price gradually drop and the people who panic sell their bitcoin helps the price go down and that's the problem. I think it will still continue for more months so expect the unexpected. But I'm still hoping for bitcoin to rise again, surpass these problems and go back to its normal system.

There's never 'no demand' there's just a surplus of people willing to sell over people willing to buy and for that reason the price falls.

The point that I was making is that if there's a huge influx of supply (from him selling the coin) there needs to be an equal increase in demand at that price for the value to remain unchanged. If there's a perfect equilibrium and then supply increases the price will go down.

[stayeduptolate]

There is also the coincidence of the Binance hack

Binance wasn't hacked, that's just FUD going around on social media. Trading Bots on Binance went rogue and altcoins were sold for BTC, then the BTC were sold for VIA, the only users compromised were the ones with API keys so most likely their bots were compromised.

Even the binance official Twitter handle have also claimed the same that the situation was not a hack and it was just due to the compromise of the accounts and the accounts that were compromised were used to buy VIA and were unable to withdraw from the exchange, so there isn't any problem of a hack on the exchange and everything's fine.
Let the weak hands sell in the fud and we must keep our hands strong and don't short out bitcoins from portfolio, instead we can buy a few more bitcoins in this situation as they are coming cheap.

[gabmen]

There is also the coincidence of the Binance hack

Binance wasn't hacked, that's just FUD going around on social media. Trading Bots on Binance went rogue and altcoins were sold for BTC, then the BTC were sold for VIA, the only users compromised were the ones with API keys so most likely their bots were compromised.

Even the binance official Twitter handle have also claimed the same that the situation was not a hack and it was just due to the compromise of the accounts and the accounts that were compromised were used to buy VIA and were unable to withdraw from the exchange, so there isn't any problem of a hack on the exchange and everything's fine.
Let the weak hands sell in the fud and we must keep our hands strong and don't short out bitcoins from portfolio, instead we can buy a few more bitcoins in this situation as they are coming cheap.

And i didn't think the issue with binance had a lot to do with the dump nope. Binance is still well trusted and was prompt to release statements about what happened which eventually, as you've stated, wasn't really.a hack. A massive btc selloff more likely initiated a panic attack for weakies when they saw the price drop. It's good for seasoned traders since its always a good time to buy during btc sale.