Kobayashi and his malicious sellout 400 million USD

[TheQuin]

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.

The price was going up, it makes a lot of sense to wait until it stops before selling. He ended up with an average price of 10k which worked out well for him.

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.

The impact of selling that number of coins is being wildly overestimated. Just look at what happened when Charlie Lee sold all his LTC. Nobody even noticed until he tweeted about it a few days later. The same is true here with the volume of BTC that is traded daily on the exchanges, this had next to no impact and nor will selling the rest. Of course, this being Bitcoin, that won't stop the FUD. What I find more interesting is the way the market fell the two days after the announcement. All the FUD published and discussed in places like this had a larger impact because it affects sentiment and that is what really drives markets.

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[stompix]

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.

The market cap is meaningless.
It's the same market cap that dropped 120 billions with only half the sum in actual trades.
40 000 BTC dropped right now and we're going to see 5k again.

And OTC and regular market are not directly connected.
If somebody would buy on the market 10 000 coins the price would go a few thousands or drop the same way spreading panic.
In OTC deals those that buy are usually hodlers, just like in the case of the FBI auctioned coins.

[eminemcookie]

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.

The price was going up, it makes a lot of sense to wait until it stops before selling. He ended up with an average price of 10k which worked out well for him.

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.

The impact of selling that number of coins is being wildly overestimated. Just look at what happened when Charlie Lee sold all his LTC. Nobody even noticed until he tweeted about it a few days later. The same is true here with the volume of BTC that is traded daily on the exchanges, this had next to no impact and nor will selling the rest. Of course, this being Bitcoin, that won't stop the FUD. What I find more interesting is the way the market fell the two days after the announcement. All the FUD published and discussed in places like this had a larger impact because it affects sentiment and that is what really drives markets.

I was going to try and fix your dodgy quoting but my brain is much too tired for that right now.

But what difference does it make to him to hold on to them? He does not earn any more or less and nor do the people being compensated, isn't the only real winner from it Karpeles who is said to receive any leftover coins?

You're right, most of it has been huge FUD and we're still seeing it now, every time there is a dump it's being referenced when it's completely different reasons causing it, it's evident today with the dump due to the news that google will ban advertisements (don't even get me started on how out of proportion that news has been blown)

[Crypdon]

First he was one of the most people for losing their bitcoins, now he is hated by even more people for crashing the market! He is the anti-bitcoin and should watch out as a lot of anger will be directed at him. People are investing their savings into bitcoin and he crashed the market!

[Zagitta]

I'm 100% sure that this guy and his team shorted bitcoins before dumping the MT GOX coins on regular exchanges. This guy should be jailed for his fraud.

[TheQuin]

I was going to try and fix your dodgy quoting but my brain is much too tired for that right now.

Damn missing / thanks for the headsup, I went back and fixed it.

But what difference does it make to him to hold on to them? He does not earn any more or less and nor do the people being compensated, isn't the only real winner from it Karpeles who is said to receive any leftover coins?

Nothing really, but when price peaked and started coming down I understand that would make him want to get on with it just incase it totally collapsed.

You're right, most of it has been huge FUD and we're still seeing it now, every time there is a dump it's being referenced when it's completely different reasons causing it, it's evident today with the dump due to the news that google will ban advertisements (don't even get me started on how out of proportion that news has been blown)

Do you remember the stories at the time of the peak were all about CME futures causing the drop? Exactly the same thing happens in fiat markets. Market goes up and CNBC et al go off and find a good story to pin it to, market goes down and CNBC et al go off and find a bad story to pin it to.

[eminemcookie]

Damn missing / thanks for the headsup, I went back and fixed it.

No problem   

Nothing really, but when price peaked and started coming down I understand that would make him want to get on with it just incase it totally collapsed.

Makes sense, just surprising he didn't have the same thought process when he initially got the coins. I wouldn't be surprised if actually he was looking for alternative ways to sell and that's why he didn't do it as soon as receiving the coins, then when the price started to fall it's as you said and he just went straight to market out of fear.

Do you remember the stories at the time of the peak were all about CME futures causing the drop? Exactly the same thing happens in fiat markets. Market goes up and CNBC et al go off and find a good story to pin it to, market goes down and CNBC et al go off and find a bad story to pin it to.

Futures are assigned blame/responsibility for almost every rise or fall that we see. I think people and news outlets are still so clueless a lot of the time as to what is actually going on that they just report something so that they have a story.

It would be interesting to see how much of a fall is attributable to some news exclusively compared to how much of it is down to that link being reported and sensationalized. I haven't a clue how to work that out mind you.

[ridertiger]

Interesting enough, all the negative media outlets seem to be turning to positive about Bitcoin these days, it scares me

[pokeronlinestatus]

Interesting enough, all the negative media outlets seem to be turning to positive about Bitcoin these days, it scares me

This is why it is said that truth can defend itself. Bitcoin is a wonderful and useful creation but many people have been trying hard to bring it down since the very beginning because they can suffer great loss in some way due to the popularity and adoption of bitcoin by the masses.

However, they forgot that it is not possible to stop words from spreading in this age of information technology. Bitcoin is loved and supported by people because it deserves to.

[pooya87]

Interesting enough, all the negative media outlets seem to be turning to positive about Bitcoin these days, it scares me

umm, a quick googling of the word "bitcoin" shows you are not right, maybe you happened to only see the positive ones out there. but let me tell you that the negative news is still at large like always.
the big news sites like Forbes, CNBC, The Guardian, and all the bitcoin related news sites such as cointelegraph are still publishing negative news about bans (Twitter to join for instance), decline in interest (Forbes), taxation (The Guardian), hard drop ($6000 prediction in Forbes), ... and lots more

[ridertiger]

Cryptocurrency Market Bounced Back on Positive G20 Watchdog Statements. Amirite or amirite
Bank of England Governor Mark Carney, who is the chair of the Financial Stability Board, has recently published a letter to participating members of the FSB — who include central bankers and finance ministers — stating that cryptocurrencies are not a pressing issue:

“The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time.”

https://cryptoslate.com/cryptocurrency-market-bounces-back-positive-g20-watchdog-statements/