Mt. Gox will release bitcoin in march - what's next?

[Falconer]

The news may not be good enough for the markets during March, but it will only be important for things to support bitcoin price analysis during March. Corrections may occur due to this plan, but however I don't know what the certainty is. My hope remains, bitcoin is expected to hold above $20K through March.

What are your plans now?

Mt. Gox creditors may finally start seeing their bitcoins this month

Mt. Gox creditors may start seeing their first bitcoin payments this month as the window for repayments is set to open.

Creditors are expected to receive early repayments from March 10 onward, while the deadline for such payments to be completed is September 30, according to a January statement. This is for the first tranche of repayments — including early lump sum payments and intermediate payments — with further amounts set to come later.

“Well, for myself, I had pretty much written off the Bitcoin I still had on Mt. Gox in 2014 as a loss, so philosophically anything I get back now is a bonus to cold store,” said Blockstream CEO Adam Back, who is a Mt. Gox creditor, via Telegram.

“It has stretched on for many more years than anyone expected, and so it will be welcome I am sure by any creditors to finally get paid,” he added.

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[jackg]

I wonder if this is the closest we've got to mtgox debitors actually receiving their payout or if something similar has happened before and then been stopped or blocked by other proceedings (such as if someone makes a claim after hearing this news, is that still possible to have an effect?)

It's good this is happening over the course of 6/7 months too so it might not have too much of an effect on the price but it'll likely still have some if they don't manage the payments well or if one person gets a huge lump sum. Hopefully it's not a repeat of luna.

[fzkto]

The news may not be good enough for the markets during March, but it will only be important for things to support bitcoin price analysis during March. Corrections may occur due to this plan, but however I don't know what the certainty is. My hope remains, bitcoin is expected to hold above $20K through March.

What are your plans now?

Mt. Gox creditors may finally start seeing their bitcoins this month

Mt. Gox creditors may start seeing their first bitcoin payments this month as the window for repayments is set to open.

Creditors are expected to receive early repayments from March 10 onward, while the deadline for such payments to be completed is September 30, according to a January statement. This is for the first tranche of repayments — including early lump sum payments and intermediate payments — with further amounts set to come later.

“Well, for myself, I had pretty much written off the Bitcoin I still had on Mt. Gox in 2014 as a loss, so philosophically anything I get back now is a bonus to cold store,” said Blockstream CEO Adam Back, who is a Mt. Gox creditor, via Telegram.

“It has stretched on for many more years than anyone expected, and so it will be welcome I am sure by any creditors to finally get paid,” he added.

I don't think Mt. Gox has had an impact on the crypto market for a long time. If at the beginning of the process they may have had a negative impact on bitcoin and other assets, but this news has not surprised anyone for a long time and I would not be surprised if at the last moment their plans change again. All in all, I will not react to it in any way. There are plenty of other negative news on the market right now than this one. Even more so, even if the exchange starts to return funds to users, it will certainly not all at once and it will require a huge amount of red tape.

[OgNasty]

The deadline to register payee information is in mid-March. This was pushed back from early January. I don’t think there’s any chance payouts come in March. There’s still a lot of work to be done and with the US forcing exchanges to close accounts of Americans left and right, I imagine even getting the payouts to their appropriate creditors is going to be a hassle.

[_BlackStar]

What are your plans now?

It doesn't change, the ideal is to hold on and ignore the bad stuff.
In quotation mark the distribution is "probably/ may" done in March, but I don't expect that to be sufficiently confirmed. It's good to accept the fact that the process will just be postponed, and you don't have to worry too much about price speculation if you're a long-term holder. If it makes the price go down, then that means you only need to accumulate bitcoin at low prices.

[TravelMug]

What are your plans now?

It doesn't change, the ideal is to hold on and ignore the bad stuff.
In quotation mark the distribution is "probably/ may" done in March, but I don't expect that to be sufficiently confirmed. It's good to accept the fact that the process will just be postponed, and you don't have to worry too much about price speculation if you're a long-term holder. If it makes the price go down, then that means you only need to accumulate bitcoin at low prices.

I agree, it doesn't matter at this point, of course it's going to be very hard to see the price going down if that is the case. But for sure for those who have been in this market and knows when to sell and when to buy, it wouldn't matter if Mt. Gox will finally released their bitcoins or not. On the other hand, we don't know if they are going to sell or hold it as well.

So it's better to just have a wait and see attitude for now as March seems to be bullish as well.

[Fundamentals Of]

This news is familiar. How many times have we read in the news that Mt. Gox funds are about to be reimbursed to the creditors and the price of Bitcoin will possibly be affected? This isn't the first time. FUD of a dump because of the big amount of Mt. Gox funds is not new. So if it is finally true this time that Mt. Gox users will finally be receiving their refunds, the effect of it to other Bitcoin holders is probably priced in already. But I still doubt the refunds will be sent within this month.

[BALIK]

Honestly, I don't believe that the creditors will be reimbursed by Mt.gox, they will continue to give investors another appointment. The story of mtgox has been going on for years and is full of false promises, I don't think they can or really want to return investors' money. The market is already so familiar with this news that we won't need to prepare any plans. And as far as I have read some news before, they will release bitcoins on schedule, so even if that happens, it won't affect the market.

[fzkto]

The deadline to register payee information is in mid-March. This was pushed back from early January. I don’t think there’s any chance payouts come in March. There’s still a lot of work to be done and with the US forcing exchanges to close accounts of Americans left and right, I imagine even getting the payouts to their appropriate creditors is going to be a hassle.

I also think that these payments, if nothing changes again, as it has happened many times before, will last a very long time. The exchange won't be able to pay each user the full amount in one lump sum. This procedure will drag on for a long time and will most likely have no effect at all on the market, which has a huge capitalisation compared to when Mt Gox scammed. This news may even have played out a long time ago.

[Minecache]

I remember we also discussed this news many times last year, and so far, there has been no bitcoin release for Mt.Gox investors. I'm not their victim, but I really hope that the victims of that year get back some of their property, they don't have to give it all back, but just a small part is enough to be happy. Even if it causes bitcoin to be dumped, I still hope it happens. But I doubt that will ever happen, they are just trying to buy time, making it difficult for the victim to give up hope voluntarily.

[o48o]

The news may not be good enough for the markets during March, but it will only be important for things to support bitcoin price analysis during March. Corrections may occur due to this plan, but however I don't know what the certainty is. My hope remains, bitcoin is expected to hold above $20K through March.

What are your plans now?

Mt. Gox creditors may finally start seeing their bitcoins this month
-cut-

Well if they are getting paid, a large portion of that will obviously hit the markets, and i wouldn't blame people dumping them. I know people who came in lately would see it insane to sell now but you weren't putting money in back then so you don't know what it would be like for them.

And before that happens, ton of speculators will dump their their bitcoins in the markets because they know that the price is going to dip hard. So this will be another leg down before bull for sure.
Usually this would affect to altcoins as it has in the past but this time i am not that sure. It's a purely BTC thing. Not BTC reacting to other real world financial events.

I wonder how much these people who cash out will need to pay in taxes total?

[dragonvslinux]

If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.

[Falconer]

As I said before, the bitcoin Mt. Gox allows correction regardless of how severe it is. Some of them may sell their bitcoin holdings, but of course they won't sell all of them because that would only deprive them of the opportunity to get higher price.

I know FUD Mt. Gox is nothing new in recent years, so I don't think the impact on the market will be as severe as one might expect. You all may be right, we just need to ignore this issue and stick to the good interests of holding bitcoin. If eventually bitcoin should fall deeper due to the truth of this news, then I don't think it will stay on bearish forever.

[Edwardard]

If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems.

I seem to disagree on this. If the repayment is really going to be in the upcoming months, we could easily test the lows (towards 15k). Keep in mind that US economy's inflation is still not getting under control. There will be pressure from both the sides.
However, I don't trust in mtgox's words at all. They are about to release (re)payments since 2018, lol.

[AverageGlabella]

If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.

Similar to my thoughts I think we had our chance when we got past 25000 to go on a bull run but these repayments are probably going to cause negative news for the next couple of months and I think that will affect the potential increase in price. I think we will break 25000 in the next month or 2 but I do not think we are breaking 30000 in the next 6 months.

[BITCOIN4X]

I seem to disagree on this. If the repayment is really going to be in the upcoming months, we could easily test the lows (towards 15k). Keep in mind that US economy's inflation is still not getting under control. There will be pressure from both the sides.
However, I don't trust in mtgox's words at all. They are about to release (re)payments since 2018, lol.

You are right, if Mt. Gox started releasing those bitcoins to creditors so bitcoin is expected to dump its price and test another low. The problem is this has been planned for a long time, but it never happened. I don't know what the truth is this time, but nevertheless traders only have to consider the risk.

I wouldn't plan on selling this quickly, but might be a bit careful to get lots of bitcoin as soon as possible. I won't rush things, so let's wait and plan for DCA as best we can.

[cryptomaniac_xxx]

If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.

I'll take that price any day, specially if we are talking about Mt. Gox, it has been affected us for a long time and it should be a close book if they are going to get back their money.

And even if the price goes on sideways for the next 6 months, I think we will be good.

At least there will be no lowest low for this year, it's very important as we will have to approach the halving next year. And so with that price going sideways, we still have a lot of opportunities to accumulate.

[hugeblack]

I think that "Mt. Gox will release bitcoin" is the new "China ban bitcoin" FUD TOPIC, Over the past few months, I have seen hundreds of people expecting a drop in the price due to the launch of these currencies, and as soon as the time comes, we hear of another delay, or at least payment in dollars, and the news is repeated again, just as it was happening with China’s ban on Bitcoin, a topic that was repeated a lot during the year 2017.

Therefore, stop posting any news related to Mt. Gox, unless you know someone who has already received his money, and I do not think that this news has an impact on the market.

[dunfida]

If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.

I'll take that price any day, specially if we are talking about Mt. Gox, it has been affected us for a long time and it should be a close book if they are going to get back their money.

And even if the price goes on sideways for the next 6 months, I think we will be good.

At least there will be no lowest low for this year, it's very important as we will have to approach the halving next year. And so with that price going sideways, we still have a lot of opportunities to accumulate.

Why would really be that people so mindful about Mt.Gox funds would be released out? yes, it could possibly make out some fuds about price dumps but eventually the price would really just recover afterwards.

Rather than on making yourself that freak out then it would be just better if you do simply go with the flow and if the price would make out some crash then it would be the best time to bag hold more.

It is really that stressful if you are really that minding that much for whatever news and events that do happen in the market.Its not something new and
we've been able to experience tons back in the past years.

[philipma1957]

If these repayments are made between March and September as the article suggests, then we could see price stay between $20K and $25K for another 6 months it seems. Not convinced all creditors will want to sell when price is down -65%, but no doubt most will sell a reasonable amount. Overall the selling pressure could create some healthy stability for over a years worth of sideways, as opposed to bouncing back to $40K or $50K. I imagine bears are licking their lips thinking that this will be what drives Bitcoin to make a new low nearer $10K, but personally I think that ship has already sailed.

its not down 65% for those people

it is up well over 10x

the highest price in 2014 was 800

the lowest price in 2014 was 300

so depending on your buy in

the ath in 2013 was 1300

we are at at 22k

so

 300
 800
1300

all way less than 22k

if I had mt gox coins coming as coins I sell half and take the huge gains

I would hold the other half.