pereira4 (OP)
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March 20, 2018, 06:52:57 PM |
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Option 1: Yes, he did sell the coins at these givens dates, which means, he is lying, and he did indeed sell:  https://www.zerohedge.com/news/2018-03-07/bitcoins-tokyo-whale-sells-400m-bitcoin-bitcoin-cashOptcion 2: No, he did not sell on these days, only moved the coins, which triggered panic sellers into believing these coins were getting dumped: https://cointelegraph.com/news/breaking-trustee-of-infamous-mt-gox-denies-btc-bch-sales-affected-crypto-marketsThe official statement in MtGox website: https://www.mtgox.com/img/pdf/20180317_qa.pdfDue the polarizing opinions on this subject, I would a poll on it. In September we should have some clarifying news so the poll will remain open until around next December. |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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surfinonmyownwavebaby
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Decentralized Ecosystem for User-Generated Content
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March 20, 2018, 11:11:25 PM |
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Truth because why would he lie in this scenario? Sure he could protect himself but it is not like people know where he lives, he is already protected. I believe the realization he moved the coins, put people in a panic and they wanted to get out before he did. Could be wrong, and am curious to find out what actually happened myself.
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david0ikari
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March 20, 2018, 11:18:03 PM |
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Interesting post which I believe. Mt Gox need to refund the money as result of the consultation with the court, which was necessary. But, this is not the only factor of the drop down of bitcoin
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gentlemand
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Welt Am Draht
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March 20, 2018, 11:27:40 PM |
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Crypto fans often forget that beyond crypto people have actual regulations and laws that they need to obey, especially if they're employed in the legal business themselves. I don't know how Japanese law works, but elsewhere if you lie and display demonstrable dishonesty you're out of the legal profession for good.
This geezer probably doesn't give flying fuck about the Bitcoin market. He wants to get the job done and move on to something else that attracts less whining.
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leou7
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March 21, 2018, 02:32:10 AM |
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(im a newbie ) how people know that he only moved the coins ?
its like they have his adress and they keep consulting it to see if theres a movement ?
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exstasie
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March 21, 2018, 02:56:32 AM
Last edit: March 21, 2018, 07:28:17 AM by exstasie |
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He never said he didn't sell. It's pretty obvious that he did sell around the given dates. The average price he netted reflects that. He is explicitly saying he didn't dump on the exchange books (suggesting OTC sales). What motive does he have to lie? I'm curious to hear opinions on that. Based on motives alone, I assume he isn't. A bankruptcy trustee isn't going to blatantly lie to creditors, the public and the courts. This geezer probably doesn't give flying fuck about the Bitcoin market. He wants to get the job done and move on to something else that attracts less whining.
Yeah, I don't think he gives a shit. People are reading way too much into this. |
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jseverson
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March 21, 2018, 09:43:40 AM |
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Hasn't it already been determined that he sold in such a way that wouldn't affect the market price? He's said just that in his statement. It's implied that they sold OTC as there was a mention of ensuring the security of the transactions. If that were true, then it doesn't really matter when they were sold.
Heck, even if he did sell at those dates through a regular exchange, what of it? We always say that Bitcoin is for controlling your own money, having uncensorable transactions with no intervention, etc. so shouldn't he be free to do whatever he pleases? The entire issue is way overblown in my opinion.
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Pursuer
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Where is my ring of blades...
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March 21, 2018, 11:53:18 AM |
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the real question that should be asked here is not about whether Mt Gox Trustee is lying or not. it should not even be about whether he actually sold his coins or not. because none of these questions matter an they don't change anything.
the real question is whether the news about him selling caused the drop and by how much?
we all know a drop would have happened anyways from $20k. that much was inevitable and we all know that whenever bitcoin has a drop it usually becomes bigger and sometimes gets out of hand with all the FUDs that would be flying around at the same time with that drop. this has already happened multiple times, enough to form a pattern actually!
and the funny part still is the fact that they say he started selling his coins months ago! and months ago price was still rising big time, in fact it went up more than 3x after the first alleged selling...
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Only Bitcoin
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Lancusters
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March 21, 2018, 12:43:48 PM |
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Hasn't it already been determined that he sold in such a way that wouldn't affect the market price? He's said just that in his statement. It's implied that they sold OTC as there was a mention of ensuring the security of the transactions. If that were true, then it doesn't really matter when they were sold.
Heck, even if he did sell at those dates through a regular exchange, what of it? We always say that Bitcoin is for controlling your own money, having uncensorable transactions with no intervention, etc. so shouldn't he be free to do whatever he pleases? The entire issue is way overblown in my opinion.
He can do that. Even if we assume that such actions may have an impact on the price of bitcoin is his right. I am sure that the market will recover even after more coins have been sold. I'm sure the whales took advantage of the situation and sold a lot of their coins to lower the price. Then they buy cheap coins and the market began to recover. In this situation, the lost money is only the alarmists and the lenders of the exchange. I can only accuse this Manager of unprofessionalism. |
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alyssa85
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March 21, 2018, 01:14:32 PM |
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He's telling the truth. a) He has no reason to lie and b) the amounts he sold are less than the amounts being mined in a month.
The crash was down to loads of hodlers thinking, "the price is going up too fast, it's not sustainable, I'd better sell before it crshes". That's why the mempool was suddenly so full - loads of people decided to send coins to the exchanges at the same time.
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talkbitcoin
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All I know is that I know nothing.
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March 21, 2018, 02:24:53 PM |
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since the news about him selling only came out recently and filled the internet (note that the dump was already near the end by that time), i am going to say there is no reason for him to lie about it. it is the truth. if the news came out in the beginning of the dump months ago then you could have doubt the legitimacy of it and could assume he is just moving coins around to scare the market for some reason because i can't see any gains for him to do so.
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YuginKadoya
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March 21, 2018, 02:44:02 PM |
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Do you think he will tell the truth about dumping so much bitcoin that may cause a total crash? I really think even if there are evidence that he is the one don't it we can not guarantee that he is telling the truth, But a lot of reasons can be covered up for him on how bitcoin dive in a crazy low value, Well there are a lot of whales that surely keeping their bitcoin that waiting for the perfect time to dump and bought in a cheaper price and there are negative news about that can cover up the situation.
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1Referee
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March 21, 2018, 03:07:29 PM |
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the real question is whether the news about him selling caused the drop and by how much?
we all know a drop would have happened anyways from $20k. that much was inevitable and we all know that whenever bitcoin has a drop it usually becomes bigger and sometimes gets out of hand with all the FUDs that would be flying around at the same time with that drop. this has already happened multiple times, enough to form a pattern actually!
Definitely, and it makes sense as well. If you're just a trader interested in returns, not caring about the technical side, hodl and whatnot, it's a major factor. In most cases all major drops are related to events making people sell their coins in panic, and temporarily make them stay out of the market, even when the storm is no longer thriving. Result of this is that the short term demand shrinks to such extent, that in case the market should be going up again, it keeps going down instead. I think that may explain the sort of market we have been going through in the last weeks. Good thing is that traders will at some point gain back their confidence, and we may have seen a start of that confidence in the market. It's still too early to say, but at least it gave the market a positive vibe, and that's worth something too. Once the price keeps going up consistently, fomo starts kicking in, and we may experience a mini rally. |
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jseverson
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March 21, 2018, 03:31:17 PM |
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I can only accuse this Manager of unprofessionalism.
How is he unprofessional though? He may be able to lie about consulting crypto experts about selling the coins, but there's no way he can lie about being in constant communication with the courts. That, added to the fact that he was able to sell the coins in the first place (which is his only job in this instance, mind you) makes him look fairly professional to me. I understand that people are upset because he might be the sole reason for the recent bear market, but there's no evidence that backs that claim up. It's much more likely that a wild rally met an equally wild correction and that it's been hard to maintain a bull run since. |
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jtipt
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March 21, 2018, 04:17:32 PM |
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He most likely doesn't care about bitcoin and is just trying to get the job done. There isn't really a motive for him to lie, he is not going to gain anything neither is MtGox. And well if he is telling truth or laying the crash did happen, and IMO the crash was inevitable at 20k MtGox news/dump just gave it a minor push.
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samson
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March 21, 2018, 05:59:42 PM |
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Of course he's telling the truth, he's a professional with the backing of the court.
He's also acting on the orders of the judge in the case and taking every precaution required to shield him from liability.
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Spazzer
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March 21, 2018, 06:42:47 PM |
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Of course he's telling the truth, he's a professional with the backing of the court.
He's also acting on the orders of the judge in the case and taking every precaution required to shield him from liability.
This I don't think he would be lying about selling especially as a trustee of an official settlement for Mtgox bankruptcy claim. Think of the legality it would open if he actually sold and lied. These things are governed by rather big entities and he would be following the courts decisions and following it to the letter. |
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BillyBobZorton
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March 21, 2018, 06:48:37 PM |
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Of course he's telling the truth, he's a professional with the backing of the court.
He's also acting on the orders of the judge in the case and taking every precaution required to shield him from liability.
The trustee has shown incompetence in several occsasions. It always felt like he googled "how to sell bitcoin" and got into some exchange. Why the hell would you dump on Kraken? it's insane. Anyone with some competence would first of all go OTC and find a deal with a billionaire willing to buy big packs of coins to avoid market destruction. Then we have the decision itself of forcing the coins to be sold instead of just sending a transaction to creditor's wallets, so they get their coins back and nobody suffers a loss. It's completely retarded that we are dealing with this when bitcoin can be easily transacted back to the people that lost it. And if you ask the people that lost the coins, they want their coins back, not fiat.. |
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aso118
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March 21, 2018, 07:00:17 PM |
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What could possibly be the motive for moving the coins and lying about selling them? This would only crash the market and reduce the value of coins held by the trust. Seems to be yet another conspiracy theory with no basis behind it. We have to accept that the Mt Gox coins represent a big holding and the trustee has the capacity to move the market. |
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hase0278
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March 23, 2018, 11:57:38 AM |
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The entire issue is way overblown in my opinion.
The issue has been overblown because of FUDer's and that's obvious. Those who spread FUD uses the name of MtGox to spread fear and uncertainty in the market, since MtGox incident is very famous in the history of bitcoin. What could possibly be the motive for moving the coins and lying about selling them?
The motive of the trustee is obvious if he did lie about it. He might have had sold only a little and just moved the large portion of coins somewhere else after all, he can profit if he rebuys at a lower price. Even though that is the case, it is very unlikely that he will lie to the court as he might be thrown to jail for that. |
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Poll
