MtGox finally going to distribute 137,000 BTC sometime next month

[coolcoinz]

But, the reality is that we are getting lower more than what this deal would have made, just from the news of it. If it was distributed and sold, it wouldn't drop the price as much, but the news of it does. Because, it’s manipulation, mt.gox trustees are trying to manipulate it to go down, so they would spend less.

Of course! That's why they didn't do it last year. They had all the personal information and all the coins. If I'd get all that info and access to money, I'd be able to serve 10 people a day with ease and be done with all this distribution in 6 months tops, all alone. They have a group of people there and can't even do 1 person a day. It's obvious they were waiting for a technical bottom to appear and once analysts started predicting that we're near it with miner capitulaltion and 200W broken, they came out with the news that after all those years of holding they're finally going to start paying people back. I wonder how much money they made on the market claiming all the airdrops and forks with that BTC.

[adaseb]

For everybody claiming that people were dumb for keeping their bitcoins on an exchange. Consider the fact that hardware wallets weren’t released back then.

Only way to keep your crypto was using something like Electrum or Armory or do some paper wallet with cold storage. Most couldn’t do that because it was much more complex than a simple hardware wallet.

[el kaka22]

It is understandable for them to try to give people some money back when it is 20k, I seriously doubt that they have all they want, they probably lacked some funds, and this drop helped them a lot. I even imagine that they may have sold a bit higher, and rebought at lower in order to pay more to people.

This is a weird situation, don't know how they are going to "finally" distribute it, I mean the method. They can't just send money back right away, most of it would be gone, there needs to be a better method, maybe some people use different wallets, would make sense. In any case, it's suspicious timing for sure, I agree with that, and I think there is something fishy going on.

[ultrloa]

It is understandable for them to try to give people some money back when it is 20k, I seriously doubt that they have all they want, they probably lacked some funds, and this drop helped them a lot. I even imagine that they may have sold a bit higher, and rebought at lower in order to pay more to people.

This is a weird situation, don't know how they are going to "finally" distribute it, I mean the method. They can't just send money back right away, most of it would be gone, there needs to be a better method, maybe some people use different wallets, would make sense. In any case, it's suspicious timing for sure, I agree with that, and I think there is something fishy going on.

Especially the price right now is so high so provably they might struggle to distribute all of the funds if they really have plan to do it because for sure they will got a problem for bloating value of bitcoin. But hopefully this scenario will happen because there are so many Mt.gox users wait this scene to happen for to so long. But for me I don't expect anything about it since for maybe I doubt they can or they have capabilities to return back the money.

[STT]

I dont think a Gox dump is a primary concern with Euro and YEN inflating Dollar value generally bringing weight against the BTC price theres larger issues then a temporary influx of liquidity.   Some will sell some wont, others will buy up the Gox coins knowing its changing nothing beyond the order books on that day.   Its only debatable as triggering weakness already existing, its a given BTC is challenged for a while yet slight positive today and future battles ahead.

Mt.Gox restricted withdrawals as I remember, it was like this for ages and didnt seem right to me to do that as it created an imbalance in the price, kinda inverse to now there was a false high again related to liquidity.   I didnt know what was going on but seemed wrong to me so I generally avoided the place and most people found out afterwards though a few had warned from  start of various upsets it was a ship taking on water.

[tranthidung]

So, 8 years, two-thirds of Bitcoin's age, is what it takes to get a part of your coins back from a centralized exchange.
Think about that when you don't keep your coins in a wallet under your own control!

"Not your keys, not your coins". This statement is very popular but hearing about it and practicing it are different. Many educational resources about it but people mainly read and forget. They don't turn reading from practicing until losing money because lack of key ownership.

• Exchange hacks, scam exits are lessons from the past.
• Recent events should make everyone withdraw all their coins to their own wallets
• Wallet Basics
• Security checklist (Do's and Don'ts)