Half of Mt. Gox Won't Sell Their Bitcoins - Poll

[Asiska02]

I saw this poll in a Mt Gox sub-reddit. It may not be as bad as we thought.

The result of this poll is not even close to the total number of people that are to benefit from Mt. Goz as they set to return assets to users for over a decade now. They are genuine voters that will benefit from the returned asset but for not having the total number of people to benefit from it not voting, then it could as well be that they are almost certainly (about 90%) going to sell their bitcoins when given.

The sale of the German government was also met with a lot of people judging their move, you'd see articles everywhere which may have caused a larger mayhem than it actually was. You're saying people might panic because of the news, what kind of news are those that are going to create a chaos in the market? Old investors from selling the Bitcoins owed by Mt.Gox since 2014? Probably not, and even if it does happen, the effect will be minimal.

Sell of bitcoins by Mt. Gox beneficiaries will not cause the market to crash that much because I don’t see that many of them will want to sell it, even if they do, it’ll be a little quantity. If they’d wanted to hold their bitcoins till now, they might not have that patience. Over the years, the closing price of bitcoin as of 2014 was just $320 and today bitcoin is currently trading around $64K and have rose up to $70K+ in this year only. With this, not all of them will want to sell all as it shows how prospective bitcoin will be in the coming years and the bull run fast around the corner to see another all time-high of bitcoin.

[Ultegra134]

Sell of bitcoins by Mt. Gox beneficiaries will not cause the market to crash that much because I don’t see that many of them will want to sell it, even if they do, it’ll be a little quantity. If they’d wanted to hold their bitcoins till now, they might not have that patience. Over the years, the closing price of bitcoin as of 2014 was just $320 and today bitcoin is currently trading around $64K and have rose up to $70K+ in this year only. With this, not all of them will want to sell all as it shows how prospective bitcoin will be in the coming years and the bull run fast around the corner to see another all time-high of bitcoin.

The previous user I quoted was comparing it to the sale of the German government, which had a significantly larger volume than Mt. Gox's funds, valued at $8 billion. According to the poll, I know that the sample size isn't enough to come up with a verdict; supposedly more than 50% will not sell their bitcoins immediately, which means that only $4 billion will be dropped in the market for sale. Certainly, this poll isn't enough to determine what's going to happen, but it goes without saying that there's no way all of the bitcoins will be put up for sale.

[aylabadia05]

I saw this poll in a Mt Gox sub-reddit. It may not be as bad as we thought.

Not so normative polls are made because we never know the voters who vote for the poll whether the voters are really the owners of money in Mt.Gox or not.
At first glance, although it cannot be justified in my opinion, it is only to confuse the situation in the midst of the positive trend that is happening for the current Bitcoin market price.
A question like this arises, how meaningful is this opinion poll? to analyze it, maybe this source can be read.
https://cointelegraph.com/news/mt-gox-creditors-hodl-btc-payouts-reddit

[legendbtc]

I like your point that we should look on the bright side of the Mt.gox incident because people finally got their money back after years of waiting. But to say that Mt.gox's $9 billion won't impact the market is not true. The German government sold just over 50kBTC worth $3 billion and caused bitcoin to drop 15%, while Mt.gox owns 142kBTC, I don't think it will have a smaller impact. Not to mention many other people will panic because of this news and will also sell their bitcoins, leading to market panic and the inevitable dumping of bitcoins.

I don't know what scenario will happen, but if someone wants a scenario similar to the news about the German government, bitcoin correction is inevitable.

The sale of the German government was also met with a lot of people judging their move, you'd see articles everywhere which may have caused a larger mayhem than it actually was. You're saying people might panic because of the news, what kind of news are those that are going to create a chaos in the market? Old investors from selling the Bitcoins owed by Mt.Gox since 2014? Probably not, and even if it does happen, the effect will be minimal.

It is completely unreasonable for people to object to the German government selling bitcoins, not only them but anyone has the right to sell their bitcoins, we have no right to object to anyone because this is a free market. It would be too selfish for us to boo and criticize others for selling their bitcoins just because we are afraid of a market crash.

I admit that you were right in predicting that the Mt.gox event did not hurt the market. I'm afraid of unnecessary things, but as far as I know, the fact that the market did not react negatively is because many people were not in a hurry to sell their bitcoins after receiving compensation. If true, it is not only good news for the market but also good news for those who have not yet sold bitcoin because the real bull season is closer than ever.