Anyone else agree that mtgox payout is keeping bitcoin down?

[BenCodie]

To this day I am unsure how many times anyone has actually gotten anything in comparison to the media just using the very well-known Mt Gox situation to scare people into believing that a huge sell-off is imminent. Is there any actual on-chain evidence to prove that a repayment fund is being accumulated or can be sent from those who are representing Mt Gox and conducting the refund?

I bet we all can't wait for the day that the payments are finally sent out and we don't even have to worry about this news holding BTC back again...I know I can't.

[o48o]

I know most people downplay the Mt Gox payout and most will say it will have no bearing on the price. This is why I am curious if anyone actually thinks this is keeping the bitcoin price down.

When Mt Gox payout goes into effect, they will sell a lot of bitcoin to get the cash needed for the claimants who wanted fiat instead of bitcoin. This will be a huge amount of coins hitting the market. Then you have all the bitcoin being sent to everyone, will they cash in those bitcoins for cash?

This adds huge risk into the price, nobody really knows what this is going to do and you can only speculate. Will Mt Gox sell all of these bitcoins in a day and crash the market? Who knows what could happen.

 This causes a a lot of uncertainty, why invest in bitcoin when  there could be a huge amount of coins hitting the market. Better to just wait for the payouts to happen after March 10th and see how it goes.

I totally get why people wouldn't buy now.

It's like invert version of sell the news event, where people are afraid to buy the news (in inverse). And as the fear is priced in it won't drop either.

Meaning that we most likely we start to move up rather then down right after people get their btc back. Some people will sell their bitcoins as they have waited for so long, but i trust there will be ton of money ready to buy as people are just waiting the price to drop. When it doesn't drop enough, people will slowly start to buy it back up.

[Oceat]

I'm not certain with that but why bother though when you can get advantage of the market? So far, I believe it's the FUD that's making the price go back to dip again but on the other hand, it's what we needed if we want Bitcoin to grow even more. That's why they always say, Bitcoin is best to hodl for a long time. If you can do that then rejoice if Bitcoin make a rise after a long time of staying in the bottom.

But anyway, why is mtgox always showing up every time if there's a FUD?

[livingfree]

Honestly if I am one of those victims that have been waiting for my funds to get refunded and then I've received it, without any doubt that I'll spend it like there's no tomorrow so I'll totally sell all of it and if not all, then a large part of it.

Whatever is the reason with the sudden falling of bitcoin's price. Let's appreciate also the reasons why it has been up coming from the lowest that it had after the bull run of 2021 which made bitcoin $16k.

Every time we don't like the movement of the market, we're thinking a lot of things and that's no good for our own cause because it will just create a panic attack if you keep thinking about it.

I think it depends on the victim’s situation. There really isn’t a difference between having funds held by the gox bankruptcy and cold storage. Except the declining amount as a result of lawyers being paid. I imagine a lot of those victims stayed in Bitcoin and probably have other BTC they could sell if they wanted. I’m sure there are a couple whales who will dump but not everybody.

Yeah, that's possible.

But that is if that's all I've got remaining or I just want to quit with this thing and have been waiting for too long. Someone who's annoyed with the situation will just to sell it and don't want to wait for something else to happen so, that's what I'll do then.

You're right with it that it's not everybody who's going to sell and there will be for sure folks that will keep it and the value of it has gotten higher than when the debacle has happened to mt gox.

[adaseb]

I think if we were at or near ATHs then I can see many of the MtGox creditors selling everything. However we are near lows and I am pretty sure most don't want to sell their entire stash at this level. They probably think BTC will go higher in the near future and they will hold, so they will sell but slowly.

The ones that will sell right away are probably people who need it urgently. They might have some debts or want to buy a house and obviously its the smart thing to do. But doesn't mean everyone will sell at once.

[Lanatsa]

Honestly if I am one of those victims that have been waiting for my funds to get refunded and then I've received it, without any doubt that I'll spend it like there's no tomorrow so I'll totally sell all of it and if not all, then a large part of it.

Whatever is the reason with the sudden falling of bitcoin's price. Let's appreciate also the reasons why it has been up coming from the lowest that it had after the bull run of 2021 which made bitcoin $16k.

Every time we don't like the movement of the market, we're thinking a lot of things and that's no good for our own cause because it will just create a panic attack if you keep thinking about it.

I think it depends on the victim’s situation. There really isn’t a difference between having funds held by the gox bankruptcy and cold storage. Except the declining amount as a result of lawyers being paid. I imagine a lot of those victims stayed in Bitcoin and probably have other BTC they could sell if they wanted. I’m sure there are a couple whales who will dump but not everybody.

Yeah, that's possible.

But that is if that's all I've got remaining or I just want to quit with this thing and have been waiting for too long. Someone who's annoyed with the situation will just to sell it and don't want to wait for something else to happen so, that's what I'll do then.

You're right with it that it's not everybody who's going to sell and there will be for sure folks that will keep it and the value of it has gotten higher than when the debacle has happened to mt gox.

Its either they would really be selling out directly or would really be still holding until to the future years but considering on how many times fold on they do able to gain up with that Mt.Gox incident
then it is really that likely that they would really be that selling out instantly on the time that they do get a hold of those coins. For sure that most of them werent been expecting that
those coins would really be given back after all the years which do ends up that most of them lose up hope on recovery and now things becomes even more better
as there are hints that it will really be that giving back to its users.

[livingfree]

Yeah, that's possible.

But that is if that's all I've got remaining or I just want to quit with this thing and have been waiting for too long. Someone who's annoyed with the situation will just to sell it and don't want to wait for something else to happen so, that's what I'll do then.

You're right with it that it's not everybody who's going to sell and there will be for sure folks that will keep it and the value of it has gotten higher than when the debacle has happened to mt gox.

Its either they would really be selling out directly or would really be still holding until to the future years but considering on how many times fold on they do able to gain up with that Mt.Gox incident
then it is really that likely that they would really be that selling out instantly on the time that they do get a hold of those coins. For sure that most of them werent been expecting that
those coins would really be given back after all the years which do ends up that most of them lose up hope on recovery and now things becomes even more better
as there are hints that it will really be that giving back to its users.

Either of the two.

But if you're going to put yourself in their shoe, there's a bigger chance that you've waited this for so long and you just want to get away with it taking out with the cash happily.

Though the small chance is that these are real bitcoin folks that have never gone away with the market and anything that's going to be received by them will be good as another investment to be held until the next bull cycle.

[$crypto$]

I'm not certain with that but why bother though when you can get advantage of the market? So far, I believe it's the FUD that's making the price go back to dip again but on the other hand, it's what we needed if we want Bitcoin to grow even more. That's why they always say, Bitcoin is best to hodl for a long time. If you can do that then rejoice if Bitcoin make a rise after a long time of staying in the bottom.

But anyway, why is mtgox always showing up every time if there's a FUD?

We do not know the flow of MTGOX where Bitcoin is sold at once or for those who receive it holding it, there is no concrete data anymore, but what is clear with FUD cannot be separated will always be in the distribution or news that concerns several agencies The problem is very reasonable some panic and sell while I believe from them there are still those who survive for Bitcoin.

In theory, it is true that we actually benefit when the price of Bitcoin is low we can buy more, while what is expected when Bitcoin goes down besides buying?
Remember FUD will not disappear and it will be attached to some bad news.

[fzkto]

I'm not certain with that but why bother though when you can get advantage of the market? So far, I believe it's the FUD that's making the price go back to dip again but on the other hand, it's what we needed if we want Bitcoin to grow even more. That's why they always say, Bitcoin is best to hodl for a long time. If you can do that then rejoice if Bitcoin make a rise after a long time of staying in the bottom.

But anyway, why is mtgox always showing up every time if there's a FUD?

We do not know the flow of MTGOX where Bitcoin is sold at once or for those who receive it holding it, there is no concrete data anymore, but what is clear with FUD cannot be separated will always be in the distribution or news that concerns several agencies The problem is very reasonable some panic and sell while I believe from them there are still those who survive for Bitcoin.

In theory, it is true that we actually benefit when the price of Bitcoin is low we can buy more, while what is expected when Bitcoin goes down besides buying?
Remember FUD will not disappear and it will be attached to some bad news.

I think this news about Mt Gox bitcoins having a negative impact on bitcoin price is greatly exaggerated. I think that even if all 185k bitcoins are sold at one time, the market will recover from that very quickly. But I am sure that they won't sell out all at once and that bitcoin transaction will stretch out for a long time. And many of those people will not sell bitcoins all at once.

[suzanne5223]

There are a lot of things that impact the downtrend of the market price but believe it or not, there's nothing you can do about the Mt Gox payout leading to the market bearish than making use of the advantage it presented the people who have their Bitcoin stuck to the Mt Gox have to get their funds back sooner or later.

[retreat]

-snip-

I'm looking for anyone who agrees with me that this is probably causing the bitcoin price to be held back at the moment until this gets worked out. To me it seems mostly everyone says its a non-issue.

I think that the payout made by Mt.Gox does not really have a significant impact on the overall crypto market, because we know that the Bitcoin market is around $1.2 trillion USD and that is quite a large number while the payout made by Mt.Gox has so far been 156,000 BTC is about $524 million USD. And also it is done periodically, not done at one time, because Mt.gox also does not have enough funds to be able to pay out to creditors according to the amount of Bitcoin lost - they have limited funds and also estimate various factors not to payout in the amount big in such a short time.

[adaseb]

Apparently MtGox is not the only one we need to worry about. The Silk Road coins are on the move by the US government. There is 40K BTC and 10K was already sent to Coinbase. Most likely they will be doing some twap and in a few days or weeks they will send the rest.

Still getting mixed reports about MtGox. Many are speculating it will get delayed again and payouts for later in the year.

[vapourminer]

Still getting mixed reports about MtGox. Many are speculating it will get delayed again and payouts for later in the year.

i just noticed the deadline for registering accounts needed for payout has been extended again.. from 10 MAR to 06 APR. at least thats what the mtgox site now says. havent seen anything else but im not looking too hard either.

[adaseb]

Still getting mixed reports about MtGox. Many are speculating it will get delayed again and payouts for later in the year.

i just noticed the deadline for registering accounts needed for payout has been extended again.. from 10 MAR to 06 APR. at least thats what the mtgox site now says. havent seen anything else but im not looking too hard either.

Yes it was delayed again, According to,

https://cointelegraph.com/news/mt-gox-registration-deadline-pushed-for-another-month

The Registration deadline is pushed to April 6 and the distribution deadline is push from Septh 30th to Oct 31st.

All these delays must be driving the creditors mad.

[OgNasty]

Still getting mixed reports about MtGox. Many are speculating it will get delayed again and payouts for later in the year.

i just noticed the deadline for registering accounts needed for payout has been extended again.. from 10 MAR to 06 APR. at least thats what the mtgox site now says. havent seen anything else but im not looking too hard either.

Yes it was delayed again, According to,

https://cointelegraph.com/news/mt-gox-registration-deadline-pushed-for-another-month

The Registration deadline is pushed to April 6 and the distribution deadline is push from Septh 30th to Oct 31st.

All these delays must be driving the creditors mad.

I was just about to post this information myself after reading the email. One thing I did notice is that I had to re-register the payment information even though I had already done it previously. I almost missed this myself but thankfully I decided to double check before the deadline. This makes me think that taking an early pay out instead of the final lump sum might result in a much smaller payment because if I could’ve almost missed this detail of having to re-register my payment information, I’m sure others will as well. That to me explains why they are constantly pushing back the deadlines. Because I don’t think as many people are registering payment information as there should be so a lot of these funds are going to go unclaimed.

[justdimin]

i just noticed the deadline for registering accounts needed for payout has been extended again.. from 10 MAR to 06 APR. at least thats what the mtgox site now says. havent seen anything else but im not looking too hard either.

Yes it was delayed again, According to,

https://cointelegraph.com/news/mt-gox-registration-deadline-pushed-for-another-month

The Registration deadline is pushed to April 6 and the distribution deadline is push from Septh 30th to Oct 31st.

All these delays must be driving the creditors mad.

I keep saying the same thing, they are just pushing it as a news to keep bitcoin lower, whoever "they" are, they just keep pushing this as a news, and when the price goes down like they wanted it to, then they push it further, you know when it's pushed to? Not any date or anything, I guarantee you that next time we hear serious news all over the net about this will be when bitcoin price starts to go up again.

Obviously when a huge bull starts, this news can't stop it, like a 2021 situation can't be stopped like this, but all these smaller increases are getting crushed anytime it happens with these bad news, it's either this, or some bankruptcy, some shady companies, china bans it for 15th time, etc etc.

[redsun114]

I think that the payout made by Mt.Gox does not really have a significant impact on the overall crypto market, because we know that the Bitcoin market is around $1.2 trillion USD and that is quite a large number while the payout made by Mt.Gox has so far been 156,000 BTC is about $524 million USD. And also it is done periodically, not done at one time, because Mt.gox also does not have enough funds to be able to pay out to creditors according to the amount of Bitcoin lost - they have limited funds and also estimate various factors not to payout in the amount big in such a short time.

If they have all that amount, I think they won't pay them all at once because they also know what it can cause in the market and they don't want to be blamed for that. The problem now is within the creditors. Im sure that some of them will complain because they can't get all of their Bitcoins in an instant. I know it sucks but at least they still have the chance to get the Bitcoins that they think they already lost long time ago.

There are a lot of things that impact the downtrend of the market price but believe it or not, there's nothing you can do about the Mt Gox payout leading to the market bearish than making use of the advantage it presented the people who have their Bitcoin stuck to the Mt Gox have to get their funds back sooner or later.

It will look inappropriate if we will tell Mt.gox to cancel the move that they are planning and the creditors will be angry with us. If we are on their side, we will also be excited to get our Bitcoins. Bear market is an advantage but maybe not for the OP because he may be done filling his bags and badly want's to see a real bull run right now.

[suzanne5223]

There are a lot of things that impact the downtrend of the market price but believe it or not, there's nothing you can do about the Mt Gox payout leading to the market bearish than making use of the advantage it presented the people who have their Bitcoin stuck to the Mt Gox have to get their funds back sooner or later.

It will look inappropriate if we will tell Mt.gox to cancel the move that they are planning and the creditors will be angry with us. If we are on their side, we will also be excited to get our Bitcoins. Bear market is an advantage but maybe not for the OP because he may be done filling his bags and badly want's to see a real bull run right now.

If we put ourselves in the shoes of the issue victims. It's not that it will look inappropriate because it is actually inappropriate to say Mt Gox not to disburse the Bitcoin to the rightful owner because it will somehow impact the market price. Besides, the bearish market is not over from my own impression about the Q1 of every correction market since the 4 cycle is yet to be complete.

[Odusko]

Why should we focus so much on mtgox to make a significant negative impact on the price of bitcoin, the fact we need to settle with is that, bitcoin price will definitely remain unstable and from time to time there will be sharp movement in price in both direction.
So whether or not mtgox payments are released or not, it's still ball down to the fact that the price of Bitcoin will still act in whatever direction the demand pushes it to and Mtgox victims getting their money back shouldn't be seen as a draw vack to Bitcoin price or future market.

[philipma1957]

Logically they may want to delay distributing it for 300-400 days.

after the ½ ing 130k coins dumped will have 2x the impact they do now.

say it is 22000 coins a month for six months in a row.

when we are down to 3.125 coin blocks its 13500 coins a month.

so a 22000 coin dump monthly for six months against 13500 coins should be effective.

those coins all were under 1300 in value.

some lower than 300

so selling a 300 dollar coin for 18000 is a big gain.