Anyone else agree that mtgox payout is keeping bitcoin down?

[Hamphser]

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.

Whether this Mt.Gox funds been given or not we cant inevitably able to avoid if we do speak about those bearish market cycle which same as you said which is actually true.Whether there's fundamentals around

or not but still we do experience out this bear market which it isnt really that shocking anymore.Despite on making yourself getting panicked it would be wise or better if you do
do really take out advantage on buying cheap coins as of this moment as it is really that on fire sale.

You could really be able to make advantage with the current price condition that we do have.Dont make yourself panic because this is how this market do behaves.

[Edwardard]

And once again mtgox changed the date as expected lol.
"Mt Gox registration deadline pushed from March 10th to April 6, distribution deadline pushed to October 31st". However, the price still fell under 20k even after no big bad news. Feels like the market reacts more to the commentary of the fed rather than its real actions.
Side note: Added more to my btc holding position right under 20k. No stress at all

[philipma1957]

And once again mtgox changed the date as expected lol.
"Mt Gox registration deadline pushed from March 10th to April 6, distribution deadline pushed to October 31st". However, the price still fell under 20k even after no big bad news. Feels like the market reacts more to the commentary of the fed rather than its real actions.
Side note: Added more to my btc holding position right under 20k. No stress at all

the feds are a real bitch.

Poke around and search I-bonds

Nov 2021 7.1%
April 2022 9.8%
Nov. 2022 6.9%
April 2023 maybe 8.3%

every year as much as 3.3 trillion of these can be purchased.

so 2021 i bonds jumped in nov  and btc tanked
and 2022 i bonds jumped in apr and btc tanked
2022 i bonds dropped in nov and brc stablized
2023 i bond rumors abound some say 8.3% which will tank btc in may.

[MoonOfLife]

And once again mtgox changed the date as expected lol.
"Mt Gox registration deadline pushed from March 10th to April 6, distribution deadline pushed to October 31st". However, the price still fell under 20k even after no big bad news. Feels like the market reacts more to the commentary of the fed rather than its real actions.
Side note: Added more to my btc holding position right under 20k. No stress at all

No wonder Mt.gox continues to delay and delay the release of bitcoins to victims. I can't even remember how many times they broke their promise to their investors, they were playing cat and mouse. They don't want to pay anyone, which is a huge amount compared to the current bitcoin price.

To me, Fed is still the biggest shark in the financial market, centralized or decentralized bitcoin; they never care and can dictate bitcoins move at will.

[Smack That Ace]

And once again mtgox changed the date as expected lol.
"Mt Gox registration deadline pushed from March 10th to April 6, distribution deadline pushed to October 31st". However, the price still fell under 20k even after no big bad news. Feels like the market reacts more to the commentary of the fed rather than its real actions.
Side note: Added more to my btc holding position right under 20k. No stress at all

The results aren't too surprising, they've been doing it for years, so it's pretty much anyone's guess that they're continuing to move the date. I've never been afraid of bitcoin being dumped because it's a good thing for long-term investors like me, I can buy bitcoins at a low price. So I was hoping they would release that bitcoin, partly to help the victims of that year get their money back, partly to make bitcoin cheap, but in the end, it didn't happen.

[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.

Whether this Mt.Gox funds been given or not we cant inevitably able to avoid if we do speak about those bearish market cycle which same as you said which is actually true.Whether there's fundamentals around

or not but still we do experience out this bear market which it isnt really that shocking anymore.Despite on making yourself getting panicked it would be wise or better if you do
do really take out advantage on buying cheap coins as of this moment as it is really that on fire sale.

You could really be able to make advantage with the current price condition that we do have.Dont make yourself panic because this is how this market do behaves.

You're right about seizing the opportunity that happens instead of people making themselves panic about the bearish market that's inevitable to happen after Mt Gox BTC disbursement. However, you seem to miss the fact that I am not panicky about the market's bearish condition, and if you ask me I will tell you that I am one of the BTC enthusiasts that like the bearish market more than bullish due to the quantity of BTC that will be made available in the market.

[Coin_trader]

MtGox is just the tip of the iceberg that slowing down Bitcoin growth. It all started when the FTX crash that drag down all the companies that has exposure on it. The effect of this huge scandal is massive and some company like silicon valley and silvergate bank are the recent downfall. USDC is now being depegged due to this banks that recently collapse. Guess what will happened next when USDC totally collapse? There’s a lot of crypto companies that exposed to USDC which will dragged down more the Bitcoin price.

MtGox and Fed hikes is just a minor FUD compared to what’s coming in crypto when USDC collapse along with the banks and crypto companies that has a reserve funds in USDC. Don’t give a lot of credits to Mtgox for Bitcoin slow down. Something big is trying to manipulate the crypto by killing those big players one by one.

[bitgolden]

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.

I think the people who do not want bitcoin to succeed are people who are doing very well with fiat world we live in. That's who "they" are, I can't name any person, but that's basically a whole group, that's basically an "understanding", like no rich person needs to go to media station they own and tell them to say bad things about bitcoin, that media company already knows what's good for their owner and act accordingly, if fiat helps them and bitcoin hurts them, the media company will say bad things about bitcoin all the time, no need for the owner to come down and say something. So whoever is hurt by bitcoin being great, is the one who keeps it low.

[Tellek Garing]

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.

It is clear that Mt Gox has had a major impact on the Bitcoin market. This impact has not only been recognized on this platform, but also by many cryptocurrency experts who link the drop in Bitcoin prices, as well as other cryptocurrencies, to this payout.

While the market impact was expected, it came at a bad time as it happened during a time of recovery.

However, since the payout is not an ongoing event, it would be wise to deal with it once and for all to ensure a seamless experience during the next market boom.

[thecodebear]

MtGox is just the tip of the iceberg that slowing down Bitcoin growth. It all started when the FTX crash that drag down all the companies that has exposure on it. The effect of this huge scandal is massive and some company like silicon valley and silvergate bank are the recent downfall. USDC is now being depegged due to this banks that recently collapse. Guess what will happened next when USDC totally collapse? There’s a lot of crypto companies that exposed to USDC which will dragged down more the Bitcoin price.

MtGox and Fed hikes is just a minor FUD compared to what’s coming in crypto when USDC collapse along with the banks and crypto companies that has a reserve funds in USDC. Don’t give a lot of credits to Mtgox for Bitcoin slow down. Something big is trying to manipulate the crypto by killing those big players one by one.

Silicon Valley bank collapse had nothing to do with crypto. I think the bank had just been doing poorly for a while and then a few days ago I guess they announced they'd sell a bunch of stock to get back to like doing well but this caused people to panic and sell so their stock price crashed and then there was a run on the bank to get money out and the govt came in to shut the bank down to stop further negative effects. Something like that. It only affected crypto because Circle was holding a few billions dollars of the USDC reserves in the bank. But otherwise it has nothing to do with crypto.

As long as USDC repegs its all good (hopefully Circle has their USD in banks insured), as that bank going down was outside of the crypto market. Though it does spell trouble for the larger economy because I guess that bank was a big lender to the tech industry. I think I saw Jim Cramer say that Silicon Valley Bank's collapse could actually put a stop to the FED raising interest rates because the FED will be worried about economic contagion spreading from that collapse and so the FED might back off trying to forcibly slow the economy down. That would be a nice thing for Bitcoin haha, since higher interest raises are keeping investors afraid.



But yeah I agree Mt Gox is a non-issue for now. There's several more impactful things that have happened in the past week that have caused the market to go down. If the USDC issue can get cleared up soon and it repegs things should be looking fine for Bitcoin and Crypto as long as the Silicon Valley Bank collapse doesn't lead to more things in the US economy failing.

Voyager is currently liquidating assets and that'll end soon. The news or rumor that the US govt sent a billion dollars of bitcoin to Coinbase to presumably sell will disappear as we move on to the next news cycle. The Silvergate collapse will also fade as we move onto the next couple news cycles in the coming weeks. Mt Gox is a non-issue until I guess October which is when they moved it back to. If USDC recovers and if the FED only raises interest rates by 25 points this month because of worries about Silicon Valley Bank instead of what had been looking more likely recently to be a 50 point raise, the bitcoin/crypto market should have found its bottom and start heading back towards where it was last month.

[Pejoh Asu]

In my opinion, the most important factor that made bitcoin prices decrease was the occurrence of scam cases, the last fact is FTX which caused panic because more than $ 3 billion in money was frozen and could not be withdrawn, but after almost 4 months of the FTX case, the market is now slowly starting to recover even though it is not significant, we see if in June the price can touch $ 30k or not.

[adaseb]

This is why FTX should of never went the bankruptcy route. They should of just given everybody a 50% haircut, make them sign some agreement similar to what Bitfinex wrote when they got hacked and most people would take the 50% now than wait 10 year to get 50% which after inflation will be worth 25%.

It’s crazy why they keep delaying this. I understand that they want everybody to claim it but they can at least start paying out the people who have been waiting almost a decade for their coins. Keep the rest in the trust until people start to register for new claims.

[BALIK]

This is why FTX should of never went the bankruptcy route. They should of just given everybody a 50% haircut, make them sign some agreement similar to what Bitfinex wrote when they got hacked and most people would take the 50% now than wait 10 year to get 50% which after inflation will be worth 25%.

It’s crazy why they keep delaying this. I understand that they want everybody to claim it but they can at least start paying out the people who have been waiting almost a decade for their coins. Keep the rest in the trust until people start to register for new claims.

No one wants any exchange to go bankrupt because no one wants to lose money. But it's an open market, and there's no regulation, so there's nothing we can do when companies go bankrupt. When participating in this market, we should have calculations as well as be ready to accept risks if it happens. The cryptocurrency market is a market of greed, of scams, so I never get upset when many people think it's a scam.

As for Mt.gox, I think people should stop expecting, what they are doing shows that they don't want to give money back, they are just buying time to make people despair and give up.

[boumalo]

The payout is near.

Defunct crypto exchange Mt Gox sent nearly 47,229 BTC to another address late Thursday. 3,141,563,389 USD at current price.

The Japanese trustee acting on behalf of Mt. Gox, Nobuaki Kobayashi, holds approximately 142,000 bitcoin, 9,4B USD at current price.

[asriloni]

The payout is near.

Defunct crypto exchange Mt Gox sent nearly 47,229 BTC to another address late Thursday. 3,141,563,389 USD at current price.

The Japanese trustee acting on behalf of Mt. Gox, Nobuaki Kobayashi, holds approximately 142,000 bitcoin, 9,4B USD at current price.

The payout has already begun. SBI and Bitbank have returned the MTgox bitcoin to their creditors. The market has not felt an impact yet. Even bitcoin is always moving upward otherwise.

I can't really trust this news. But, it gives us a small insight. It shows that not all MTgox creditors intend to dump their BTC.



Time factor also affects the impact. I believe not all creditors are dumping thousands of BTC at once, as the German government did so.

[dezoel]

I wouldn't say it is keeping it down, but I would say that it may cause a little discomfort for people as well. Remember, if we wanted to go berzerk and go up, then even that much coins wouldn't be able to hold us, it is going to be quite near impossible for any amount really, unless it's all sold off at once, and even then we will fall and then recover, so it is not like a big deal at all for any of us.

We should consider the fact that we are going to end up with a solution to all of this, if only we end up with doing what we know how to do; which is holding. It is a simple method, and you just need to wait for all of this to blow over, after that it will get better, plus we are at the summer period now, so it is not really expected to go up just yet, we are going to wait for summer to end but after that ends, we may start the bull run.

What Mt.Gox is showing right now is a potential for a drop, that part is true, having a lot of sellers, but if we could just turn this into a bull market, then sellers will not matter because there will be enough buyers that will cover the difference, so we need to know what we can do to help with the situation at the moment, so we can get a better result in the end.

[milewilda]

I wouldn't say it is keeping it down, but I would say that it may cause a little discomfort for people as well. Remember, if we wanted to go berzerk and go up, then even that much coins wouldn't be able to hold us, it is going to be quite near impossible for any amount really, unless it's all sold off at once, and even then we will fall and then recover, so it is not like a big deal at all for any of us.

We should consider the fact that we are going to end up with a solution to all of this, if only we end up with doing what we know how to do; which is holding. It is a simple method, and you just need to wait for all of this to blow over, after that it will get better, plus we are at the summer period now, so it is not really expected to go up just yet, we are going to wait for summer to end but after that ends, we may start the bull run.

What Mt.Gox is showing right now is a potential for a drop, that part is true, having a lot of sellers, but if we could just turn this into a bull market, then sellers will not matter because there will be enough buyers that will cover the difference, so we need to know what we can do to help with the situation at the moment, so we can get a better result in the end.

For those who have been on this market for a while now is already that numb when it comes into these kind of unexpected news or events specially on negative ones on which you could really be able to say into yourself that it could probably making out some negative effect or simply make the market goes down considering that on the coins that we are talking on here is really that something significant or simply getting tied with that Mt.Gox payout or something similar as this. As a crypto enthusiast then it would be always that best that you should really be having that behavior on trying out to expect the unexpected as always.
You wont really be finding yourself to be that stressful on the time or moment you would be able to encounter to such unexpected events on which it could driven out the market price down.

The payout is near.

Defunct crypto exchange Mt Gox sent nearly 47,229 BTC to another address late Thursday. 3,141,563,389 USD at current price.

The Japanese trustee acting on behalf of Mt. Gox, Nobuaki Kobayashi, holds approximately 142,000 bitcoin, 9,4B USD at current price.

They can sell all they want or whatever decisions that they would really be making because there's always those people or investors who would really be loving
on catching up those cheap prices or simply on the time that the market would really be on correction state because of such events. MArket dips and crashes are inevitable
and only to those who are wise and have experience would really be seeing these things to be buying opportunities. 

[Captain Corporate]

Nothing but people not buying or people selling could keep it down. Not any news, not any elections, not trump, not biden, not mt.gox, nothing. If the market is hyped and wants to get higher then it will do that, even at the face of everything. Let alone the "news" of a payout, the actual payout itself, even for 100k+ bitcoins being on the market and even being sold all at the same time, if we are on a bull run, the retail investor and the big whales would eat that up like its nothing and spit it back out. There has been plenty of situations like that, many whales sold tens of thousands of bitcoins all at once, and many bad news happened, and during bull period we still got higher, so don't worry and wait for the bull run.

[Jating]

Nothing but people not buying or people selling could keep it down. Not any news, not any elections, not trump, not biden, not mt.gox, nothing. If the market is hyped and wants to get higher then it will do that, even at the face of everything. Let alone the "news" of a payout, the actual payout itself, even for 100k+ bitcoins being on the market and even being sold all at the same time, if we are on a bull run, the retail investor and the big whales would eat that up like its nothing and spit it back out. There has been plenty of situations like that, many whales sold tens of thousands of bitcoins all at once, and many bad news happened, and during bull period we still got higher, so don't worry and wait for the bull run.

And I was surprised how resilient the market is in terms of this news. The price did go down to $64k and I said that this is it, the market might go down again because of this news. But lo and behold, market pushes or the bulls put the price on $65k++ again, and so we are up. Definitely we are in the bull run right now that's why the prices keeps on bouncing above $60k at least for this month and we are up 3.3x%.

So yeah, we might hear about the Mt. Gox coins or repayment scheme underway for this month. But it doesn't mean that we should be fearful of it. In fact, it has been dragging us for years that it's better to accept the fact that sooner or later, it might have a negative effect. However, as I have said, the market is already durable and tough, and it will not simply just go down because of this negative news.

[Ndabagi01]

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?

I can across a news today, can’t remember where I saw it or neither know about the authenticity of it but it was saying that those Mt Gotz are owing have been paid about 90% of them and most of them are not willing to sell because they have seen that the bitcoin has a very big prospect ahead, so they prefer to hold rather than to sell them off. I haven’t seen a more recent crash that can be linked to Mt Gotz releasing those funds to their customers and they’re selling them out for money. The Mt Gotz payout to their customers will really have effect on the market and how the market reacts to that will only let us know more how those people have planned to do with their bitcoin, whether to sell or keep holding.