Kobayashi and his malicious sellout 400 million USD

[jseverson]

It does not have to be the ONLY factor in the matter. Whatever you can do, every bit will help. The opposing party will do whatever it can do to weaken THAT specific card. I am sure they have other cards, or factors they play with, but this is only one of them. According to Carnegie Europe, http://carnegieeurope.eu/strategiceurope/75740?lang=en
The West is in the middle of an undeclared cyberwar with Russia. This could be a part of it. As you may have guessed, North Korea and Russia are high school buddies.

I'm not saying it's impossible. I'm just thinking out loud that the chances of a grand conspiracy going on for the sake of North Korea is about as small as the amount involved. Doubling down on sanctions and asking for China's help will be much more efficient courses of action. It just seems way too roundabout in my opinion.

But yeah, to each his own. I'm probably just not the biggest fan of conspiracy theories.

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[Maren]

Nobuaki : "I will continue to consider whether, in the case where a distribution is possible, a distribution will be made by way of distributing BTC."
I don't know what that means, but it sounds like he will distribute the rest of the BTC to the creditors, instead of selling them himself and crashing the market.

You people do realize that 400m is peanuts in a 160b market? The guy just made a good call and sold his BTC at 10k, unlike many who tried the same.

He didn't cause the drop, unless you want to pin the whole reversal on him. It's natural that things sell-off after a mayor top, especially quite an exuberant one. There were many contributing factors, the mt gox sell-out was one of them, albeit a minor one.

Also.. claiming that OTC would be better than selling on the market. Ridiculous. It's not like OTC and regular market exist in vacuum, separated from each other.

[TheQuin]

I believe his job is to get the best price possible to reimburse those that lost out in the bankruptcy. If he didn't do that he would he would be negligent and get fired. His job description doesn't include any consideration to what effect that has on Bitcoin.

You get a BETTER price at an auction. That is how the USA sells seized bitcoins. You might have to wait a few weeks, but the price is better. That is the reason I said I see malicious intent.

I don't think that is the reason the US uses auctions for seized coins. Ignoring Bitcoin for a moment the reason that assets are sold off by auction in bankruptcy and/or law enforcement confiscations is to guarantee a sale and that usually results in lower than market prices, especially when taking into consideration auctioneer fees. Using exchanges and/or OTC services isn't an option for many asset classes but when it is available it will generally result in better prices and lower fees than using an auction.

Well given that remit he's performed pretty well but that's not really his doing, it just so happened the price went up exponentially in that period. I'm sure he'll still be facing questions as to why he didn't conduct a private sale at the time that he did decide to sell.

Sure, no doubt he got lucky, but that makes me think that the price having gone past its peak and starting to decline spurred him into action as opposed to his selling causing the peak.

[Vienna777]

also if MrGox users lost only 200 milions why the fuck he cashout 400 milion? why the japan court allow this shit ?
this sounds very very fishy and dont think im conspiracy guy bicouse i really like to think about the shit it could happend bicouse only like this we might know the truth about MrGox hack

The lawsuit was for 850,000 Bitcoins that were lost, which at $483 in April 2014 per BTC comes out to $410 million.

[eminemcookie]

You people do realize that 400m is peanuts in a 160b market? The guy just made a good call and sold his BTC at 10k, unlike many who tried the same.

'Peanuts' - yeah right. The marketcap is not reflective of the depth of a market.

Well given that remit he's performed pretty well but that's not really his doing, it just so happened the price went up exponentially in that period. I'm sure he'll still be facing questions as to why he didn't conduct a private sale at the time that he did decide to sell.

Sure, no doubt he got lucky, but that makes me think that the price having gone past its peak and starting to decline spurred him into action as opposed to his selling causing the peak.

I think you mean 'fall' instead of peak? That would make some sense, he probably was holding and then seeing the price go to 20k always had a stop loss in mind and that was probably around the 10k mark, then he maybe panicked around the 6k mark. I guess having a deadline on when he had to sell by didn't help. He did a good job given what he was tasked with but it just seems like he was a bit naive in his understanding of just how much he was selling to the market and what influence that would have.

[alyssa85]

I believe his job is to get the best price possible to reimburse those that lost out in the bankruptcy. If he didn't do that he would he would be negligent and get fired. His job description doesn't include any consideration to what effect that has on Bitcoin.

This. And it's good that he waited till Dec 2017 to sell instead of selling in say Dec 2015 when the market price was $170 and the sale would have tanked bitcoin to zero.

[bit-freedom]

This guy is obviously not a crypto lover and can’t be bother with BTC price. He is doing stuffs without thinking, he could have sell OTC instead of causing dips in bitcoin price. Hopefully he will handle the rest of BTC properly.

[ridertiger]

The next court date is September 2018 so we have some breathing room, and the markets are recovering. For the folks who think the amount he sells is insignificant, any major sell causes market traders to sell so it is an avalanche effect.
He also said if he can, he will distribute the BTC instead of selling it.

[TheQuin]

I think you mean 'fall' instead of peak?

I said 'past its peak' which would be the same thing.

[eminemcookie]

I believe his job is to get the best price possible to reimburse those that lost out in the bankruptcy. If he didn't do that he would he would be negligent and get fired. His job description doesn't include any consideration to what effect that has on Bitcoin.

This. And it's good that he waited till Dec 2017 to sell instead of selling in say Dec 2015 when the market price was $170 and the sale would have tanked bitcoin to zero.

Did he even have the coins at that point and the instruction to sell the coins to raise funds? (I'm not saying he didn't, I really don't know)

I think you mean 'fall' instead of peak?

I said 'past its peak' which would be the same thing.

My bad, somehow I read it differently 

[TheQuin]

Did he even have the coins at that point and the instruction to sell the coins to raise funds? (I'm not saying he didn't, I really don't know)

As far as I know, he has been looking to sell since the 9th creditors meeting (27 Sept. 2017). So waiting until the prices were as high as they were in December to February worked out pretty well for him (it was at about $3.5k then).

[ridertiger]

Well, lets see where the bitcoin price is going, but it looks like it will recover after yet another small dip.

[jjacob]

- Snip -

I agree that the Mt Gox trustee dumping coins on exchanges is the primary reason for the fall in price. I would attribute it to sheer incompetence on the part of the trustee and not some international conspiracy. If the US wanted to keep the price of Bitcoin down to spite North Korea, they have many more avenues to do so. Rumours about an announcement of impending rule tightening would do the trick. They don't have to lean on the Mt Gox trustee to dump coins and bring down the price.

[fiulpro]

I do think that whatever they are doing is for their own good they are trying to... Encash and then..when the market is completely down they are going buy the Bitcoins...  And this will increase the amount of Bitcoins they had ... In the past... It's just ... A joint.. idea of.. everyone who hold power over Bitcoins to make more money .. is what I think.

Anyways the story is Preety interesting but if they are.. gonna ..degrade south Korea by doing that..I do think that.. other countries are also involved in this...

[warning_btc]

Keep calm guys, Mt.Gox bitcoins freezed to the september 2018

[Pursuer]

So, there you go. We are all victims of an international bargain.

so you are saying that $20,000 was not a bubble, the drop down to $10k was not the bubble bursting and price correcting itself and you are saying all this time, with all the FUD and panic sells going on, none of them were the reason for the drop but the drop happened because of this theory of yours and the sells by Kobayashi?!

I can not see that to be true to be honest. I can give you the drop below $10k to be manipulation and massive dumping but not before that. additionally the news says Kobayashi has been selling for months not just during the drops. he started selling during the rise even before price even went above $10k!

[jpaul]

If this was the case then it must have been a careless move since he didn't get the most out of the BTC,if he'd settled for auction, the market would still be steady and he would have had the best price too. the market has become so vulnerable to manipulation that its losing its authenticity.

[TheQuin]

So, there you go. We are all victims of an international bargain.

so you are saying that $20,000 was not a bubble, the drop down to $10k was not the bubble bursting and price correcting itself and you are saying all this time, with all the FUD and panic sells going on, none of them were the reason for the drop but the drop happened because of this theory of yours and the sells by Kobayashi?!

I can not see that to be true to be honest. I can give you the drop below $10k to be manipulation and massive dumping but not before that. additionally the news says Kobayashi has been selling for months not just during the drops. he started selling during the rise even before price even went above $10k!

Let's not let facts get in the way of a good old FUD party. Indeed the price had already started falling from its peak before he started selling. What I find more informative is that the price fell for a couple of days after the release of the story. The endless FUD both from news sources, this forum and social media about 'Gox crashing the market' had more effect on lowering the price than the actual liquidation of Gox assets.

[eminemcookie]

Did he even have the coins at that point and the instruction to sell the coins to raise funds? (I'm not saying he didn't, I really don't know)

As far as I know, he has been looking to sell since the 9th creditors meeting (27 Sept. 2017). So waiting until the prices were as high as they were in December to February worked out pretty well for him (it was at about $3.5k then).

I wonder what reason he would have had for waiting to sell them. It's not like he didn't have enough coins at this disposal to sell at $3.5k and cover what he needs to raise.

Let's not let facts get in the way of a good old FUD party. Indeed the price had already started falling from its peak before he started selling. What I find more informative is that the price fell for a couple of days after the release of the story. The endless FUD both from news sources, this forum and social media about 'Gox crashing the market' had more effect on lowering the price than the actual liquidation of Gox assets.

It's only continuing now and it's going to loom over us, even though it's said that he won't sell anymore coins until after the end of September if at all, it's still apparent that there is a lot of FUD around this. Every time now that the market takes a little fall people will be reminded of this and think if it is the start of him selling off again.

[felicita]

yes very sad storry for most bitcoin holders me also XD
but its also how the marcet works and i think its ok that he sold that much bitcoins now others can buy them



regards