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

[Baofeng]

And it seems the date has been moved again to April 6, 2023 Japan time.



https://www.mtgox.com/img/pdf/20230309_announcement_en.pdf

So I guess we need to wait for next month then, this has been dragging for years now, and obviously if this is moved to April, it has nothing to do with the price on the decline that we are experiencing in the last couple of days $20,200++.

@adaseb - you are right, as the March date is pushed, the new repayment date is Oct 31,2023 (From Sept 30, 2023).

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[OgNasty]

I’m not expecting to receive anything too soon. Maybe this summer but more likely toward the end of the year. That’s if I stick with the early lump sum payout. I’m seriously debating changing to the later payout as I think it might end up being significantly higher as a result of this clunky process and the amount of time that’s passed.

[m2017]

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.

Agree. This may drag on indefinitely, and the apocalypse that some expect may not happen at all. As far as I know, payments intended for the Mt. Gox's creditors have already been repeatedly delayed. Something will go wrong and the former users of this exchange will only have to wait. Again.

Will they ever get what they deserve?

[imamusma]

Will they ever get what they deserve?

It might eventually happen, but before that we're sure to get a lot of media frying it into FUD so creditors don't sell their bitcoin holdings as soon as they get their hands on it. The lower the price, the more likely it is to see bitcoin held by creditors, but anyway I don't expect such a huge level of decline in the second trimester of the year.

However it is not impossible to get those plans delayed and delayed again, it has happened time and time again as far as the Mt. Gox credits the bitcoin to creditors.

[samson]

Can anyone who is a MtGox creditor can confirm if they are actually going to get their coins in March? I’ve been hearing this for years and it almost always gets pushed back.

We're probably not getting anything until October now.

There was never any March payment due, not once - if you believe that somehow either you're stupid and don't understand what's going on or you've read some FUD.


The March thing was an 'enter your bank details by March 10 or you don't get paid' cut off date for payment by the end of September that's now been extended until April with a supposed payment date of the end of October.

The problem is many claimants have not entered their bank / payment details. But I suspect these are all small / tiny claims which people simply can't be bothered to register. A lot of new claims came in when BTC was above $50k, now it's so low these assholes seem to be ignoring it.

But this shouldn't be a problem - the trustee in charge should simply not pay these people, there is another procedure in place for them to claim their money through the Japanese government, constant delays to our repayments is begining to get annoying and it's not needed.


This trustee should stick to his own deadlines, he's looking like he has no control over what's going on now.

[fzkto]

Will they ever get what they deserve?

It might eventually happen, but before that we're sure to get a lot of media frying it into FUD so creditors don't sell their bitcoin holdings as soon as they get their hands on it. The lower the price, the more likely it is to see bitcoin held by creditors, but anyway I don't expect such a huge level of decline in the second trimester of the year.

However it is not impossible to get those plans delayed and delayed again, it has happened time and time again as far as the Mt. Gox credits the bitcoin to creditors.

The most important thing in this story is not that they keep delaying their plans, but that this amount of bitcoins is not large enough to have such a big impact on the market. Moreover, I don't think all investors will sell the bitcoins they receive. That's why I think it's better to ignore this FUD.

[Falconer]

The most important thing in this story is not that they keep delaying their plans, but that this amount of bitcoins is not large enough to have such a big impact on the market. Moreover, I don't think all investors will sell the bitcoins they receive. That's why I think it's better to ignore this FUD.

I agree with your conclusion, yes, ignore FUD and keep hold on.

From the start I have said this is FUD which will more or less impact market conditions. But this FUD will probably be ignored because there are other FUDs that make things worse. Bitcoin's correction over March is a good buy opportunity, while some will surely be concerned about the possibility of another low following some FUD so far. That's why I asked what the plan is now.

[Fesatmas]

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?

Returning the amount of losses of customers of Mt. Gox may need a gradual distribution time, but with the number of losses each, we will definitely face unstable price movements. However, as was informed that customers can choose options according to their wishes and the deadline for choosing these options, if I'm not mistaken, ended yesterday, March 10th. So let's see if Mt. Gox complied with the distribution later this year as they told the media.

[_BlackStar]

I'm really wondering if any of the posters responding to this news are creditors who will accept those bitcoin?

If that's you, I hope you can provide some insight into the current situation so we really know what to do instead of considering this kind of FUD. What's next, that's reasonable question, but if we don't really get the information right then I think it's very easy for some people to get doubts about bitcoin's potential this year.

[sana54210]

Will they ever get what they deserve?

It might eventually happen, but before that we're sure to get a lot of media frying it into FUD so creditors don't sell their bitcoin holdings as soon as they get their hands on it. The lower the price, the more likely it is to see bitcoin held by creditors, but anyway I don't expect such a huge level of decline in the second trimester of the year.

However it is not impossible to get those plans delayed and delayed again, it has happened time and time again as far as the Mt. Gox credits the bitcoin to creditors.

The most important thing in this story is not that they keep delaying their plans, but that this amount of bitcoins is not large enough to have such a big impact on the market. Moreover, I don't think all investors will sell the bitcoins they receive. That's why I think it's better to ignore this FUD.

The point is that they keep delaying it for the exact purpose of keeping it low. Look at the silvergate news that followed this, whenever bitcoin starts to go up the same thing happens. First it was FTX crash, then it was Binance FUD, then it was mt.gox, then it was silvergate.

Nobody in the world could convince me that these were not timed this way. ALL of them happened at the exact moment when bitcoin started to go up, whenever we looked like we were doing fine, someone somewhere figures out a reason to keep it low and that is why this happens. I believe that we shouldn't believe in any of them and we will be fine if we could just ignore them and move on without caring.

[serjent05]

And it seems the date has been moved again to April 6, 2023 Japan time.

[img width=5-]https://i.imgur.com/kTqZnPH.png[/img]

https://www.mtgox.com/img/pdf/20230309_announcement_en.pdf

So I guess we need to wait for next month then, this has been dragging for years now, and obviously if this is moved to April, it has nothing to do with the price on the decline that we are experiencing in the last couple of days $20,200++.

@adaseb - you are right, as the March date is pushed, the new repayment date is Oct 31,2023 (From Sept 30, 2023).

It looks like authority wanted to keep Bitcoin at low price.  They moved it because they see this SVB collapsing which can pull down the price of Bitcoin.  Then come by April, when they(MT. GOX) start selling Bitcoin might push the price of BTC further low.  Bitcoin might revisit a sub $20k price if the bad news, FUD and release of M. GOX effect piled up.

Will they ever get what they deserve?

It might eventually happen, but before that we're sure to get a lot of media frying it into FUD so creditors don't sell their bitcoin holdings as soon as they get their hands on it. The lower the price, the more likely it is to see bitcoin held by creditors, but anyway I don't expect such a huge level of decline in the second trimester of the year.

However it is not impossible to get those plans delayed and delayed again, it has happened time and time again as far as the Mt. Gox credits the bitcoin to creditors.

The most important thing in this story is not that they keep delaying their plans, but that this amount of bitcoins is not large enough to have such a big impact on the market. Moreover, I don't think all investors will sell the bitcoins they receive. That's why I think it's better to ignore this FUD.

The point is that they keep delaying it for the exact purpose of keeping it low. Look at the silvergate news that followed this, whenever bitcoin starts to go up the same thing happens. First it was FTX crash, then it was Binance FUD, then it was mt.gox, then it was silvergate.

Precisely what I am also thinking.  You can also add Silicon Valley Bank collapsing that cause USDC to deppeged, obviously this event will have a negative impact on Bitcoin market.

[Falconer]

-snip-

I believe FUD and the negative sentiment that occurred during March have affected market conditions.
We could see bitcoin testing new support below $19K if this sort of thing continues through March. But brace yourself, ignore the temptation because this is just a normal swing before we finally see the bull again.

Oh hey, we're still in the same ship right? Keep holding on, do the accumulation.