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Author Topic: Bitcoin will still go down short term  (Read 2022 times)
psylence
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March 23, 2014, 11:39:01 PM
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Mtgox "finding" these 200,000 coins will inevitably soon result in them enabling withdrawals. In return some of these coins will be sold off at other exchanges, it will only will take a small portion to drive the price down further. Not to mention the other "stolen" coins that may be being sold off at the same time or inevitably will be. To add to all this there is a low point in consumer confidence in the coin due to mtgox and other exchanges experiencing many security breaches.
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ContractHashing
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March 23, 2014, 11:40:55 PM
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There is still 650,000 coins missing. MtGox won't open withdraws until they lower that down to about 100,000.
smooth
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March 23, 2014, 11:42:17 PM
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Zero chance withdrawals enabled with any missing coins during a bankruptcy proceeding.
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March 23, 2014, 11:51:36 PM
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Zero chance withdrawals enabled with any missing coins during a bankruptcy proceeding.


Agree...

But I really hope we are not right and everything is going to be ok!:)

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psylence
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March 24, 2014, 12:13:38 AM
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Zero chance withdrawals enabled with any missing coins during a bankruptcy proceeding.


I see, any estimation of how long that will take?
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March 24, 2014, 12:20:21 AM
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Probably more than six months. http://finance.fortune.cnn.com/2014/03/06/mt-gox-bitcoin-bankruptcy/
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March 24, 2014, 03:05:17 AM
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I lost some bitcoins on Mt Gox. Do I have to do anything to make a claim?

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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March 24, 2014, 03:08:13 AM
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I lost some bitcoins on Mt Gox. Do I have to do anything to make a claim?

No information available yet.
Bit_Happy
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March 24, 2014, 05:35:44 AM
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Zero chance withdrawals enabled with any missing coins during a bankruptcy proceeding.


Also bankruptcy proceedings can take a long time.
Stay tuned, but don't expect fast action.

FYI: We are planning a fun, harmless "10% Attack" on the ETH/ICO Bubble Game.
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March 24, 2014, 09:12:45 AM
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It might take awhile before there will be withdrawals. I actually wonder how are they going to split 200k among so many people.

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March 25, 2014, 06:46:32 AM
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It might take awhile before there will be withdrawals. I actually wonder how are they going to split 200k among so many people.

The lawyers & administrators will eat most of the meat off the corporate carcass. The rest of us will be lucky to be tossed a bone or two.

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
JimboToronto
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March 25, 2014, 09:54:18 AM
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The lawyers & administrators will eat most of the meat off the corporate carcass. The rest of us will be lucky to be tossed a bone or two.

Exactly.

According to the assets and liabilities listed on the Japanese bankruptcy application, there should be about $0.60 on the dollar. People will be lucky to see $0.20 IMHO.
segeln
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March 25, 2014, 11:46:52 AM
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Zero chance withdrawals enabled with any missing coins during a bankruptcy proceeding.

right,most People do not consider this
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March 25, 2014, 06:53:52 PM
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All I know is that I won't be holding my breath that they will do the right thing based on their track record.  Whole we found 200,000 coins speaks volumes about how their operation was run.
Sindelar1938
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March 26, 2014, 03:26:33 PM
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Instead of focusing on tactical short term price drivers we should be looking at longer term secular drivers like eosystem innovation and adoption

roslinpl
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March 26, 2014, 03:34:36 PM
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Instead of focusing on tactical short term price drivers we should be looking at longer term secular drivers like eosystem innovation and adoption

Indeed we should, Bitcoin is not mentioned to be profitable for "short terms"...

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April 19, 2014, 04:30:22 PM
 #17

It might take awhile before there will be withdrawals. I actually wonder how are they going to split 200k among so many people.

The lawyers & administrators will eat most of the meat off the corporate carcass. The rest of us will be lucky to be tossed a bone or two.

+1


this much!

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