/biz/ - Business & Finance

Yes. I sold some fractions some days ago.
Nobody in /biz/ is paying attention, which means the dip will happen.

150k BTC is nothing

hasn't been confirmed anywhere. simply won't happen

i doubt even 50% of those coins are able to be reclaimed, and those that are won't be returned. they've been sold to some fund or billionaire already

Seriously I think you're underestimating the demand.

>>24705022
It's like 0.7% of supply right? Not a big deal, it'll get bought right up.

>>24704957
Cry more. Buy higher

>>24705022
Is nothing???
With roughly 28,000 BTC mined each month, the haul equals around five months’ supply.

>>24705036
Mt. Gox was the best-known cryptocurrency exchange until it was hacked for funds that included 860,000 BTC. After years of legal tussles, a rehabilitation scheme will see roughly 140,000 BTC distributed to creditors.

Everytime this date comes it gets kicked back down the road. This is at least the 2nd time the payback was supposed to happen
I'm not saying it won't,but what makes you certain it's this time

>>24704893
Kek, Mt. Gox fucking us all over AGAIN?

dang maybe I shouldn't have bought the dip yesterday, with this shit coming up

if the coins do go onto the market it will get absolutely crushed

sell the rumor, buy the news

>>24705334
this speculation is based on dec 15 being the deadline, but it will not be met. not for a long time
expect users to be refunded in $ based on the value of their holdings at the time mtgox went down

>>24705120
Your math is retarded.

>>24705482
I expect the deadline pushed again as well
desu would prefer they finally dump it now so the mt gox fud is gone for good and we can buy the dip

>>24704893
Trading news on MT GOX legal shenanigans is considered by many experts the best way to identify autistic folks on the internet.

>>24705369
We are basically this man's bitch rn

>>24705482
Ya this is exactly what will happen. Cash based compensation based on value of holdings at the time possibly with 2% per annum interest

>>24705582
I wish mtgox give these fucking btc
I wish these retards dumped them all, so btc retrace a little, that's good, and we get the fuck off this story

The volume for one day is around 1.5 million BTC. That is in one day of trading. This isn't one person receiving 150k, but numerous individuals. For any down pressure, they would all have to sell all of their bitcoins at the same time, which is highly unlikely. This will be easily absorbed by the market

>>24705120
it will be bought up like nothing

>>24705036
A good chunk of these coins probably belong to early silk road users or russian criminals who won't be claiming them for obvious reasons.

>>24705334
last i heard japan bankruptcy laws don't allow for being reimbursed in anything but jpy

IMAGINE BUYING BITCOIN ON A FUCKING MAGIC THE GATHERING WEBSITE

is it all gonna crash OP?
I am worried, should I sell?

>>24705919
Until late 2013, Mt. Gox was number fucking ONE in the exchange game.

>>24705919
yes I would like to go back in 2013 and buy them there

>>24705443
This shit coming up is the reason for the dip. All information that is available is already priced in

>>24704893
based mark crashing the market for the third time

>>24705600
People who call themselves experts are considered the best way to identify sheep by autistic folks on the internet, as well

>>24705919
I though bitcoin was dead when it crashed and that it would take at least a decade for people to recover the confidence in crypto, oh god how naive I was.

>>24705919
IMAGINE MAKING FUN OF PEOPLE WHO BOUGHT BTC UNDER $100

>>24705834
those people were forced to be hodlers.
they have been waiting for 6 years.
they bought under a 1k.
I think 90% of them will sell and take profit.

>>24704893
i know a thing or two about the mt gox coins that will be sold soon. it's not going to affect the market directly, only by way of fear for retail buyers.

>>24706477
why would they? btc gonna be above $100k in a year everyone knows it

>>24705120
>>24705184
>With roughly 28,000 BTC mined each month, the haul equals around five months’ supply.

it is definitely not nothing, the question is how are they going to be sold.
150k market sell would crash the price into the low thousands if not into the hundreds, at least briefly.
It makes me want to sell a few btc and put in low buy order honestly...

>>24705474
this

>>24704893
>2013
>7 YEARS

This shit is already priced in.

>>24706740
ask me how I know you are a nufag

>>24706740
>the question is how are they going to be sold.
there is no question. large institutional investors are already buying up bitcoin constantly. they have an interest in maintaining the bull run and preventing bearish fomo. mt. gox trustee has an interest in getting as much dosh as they can for these coins. if they market sell them, it would net them less money while also potentially causing runaway bearish fomo. all parties benefit from an OTC sale. my guess is they'll go to groups like grayscale

i had 2 motherfucking bitcoins on their way to mtcox, unconfirmed when it 404'd. never seeing those fucks back, they're not reflected by the balance mtcunts acknowledge they owe me. i'll get a retarded 0.07, not the 2.07 they raped from me. that fat motherfucker had better one way or another be skinned alive, buggered half to death then crucified. FUCKING HATE the bastard even more than the tosser who stole the coins. DIE IN A FUCKING FIRE YOU FAT PIECE OF SHIT, FUCKING DIE IN ABJECT FUCKING AGONY

I sold some fractions some days ago.
Nobody in /biz/ is paying attention, which means the dip will happen.

>tfw i'm FINALLY gonna get some gox money back
2020 maybe isn't that bad after all

>>24706949
lmao this guy right here is prime example why everybody who gets their coins back will be selling immediately

>>24706864
>ask me how I know you are a nufag
tell me how?

the last time the trustee sold was end of 2017 in batches, but it was only 24k coins.

>>24704893
Those coins won't be distributed any time soon

>>24707019
i had around 20btc on gox when it all burned down.
do you REALLY think i'm gonna sell anything i'm getting back from them before 100k, after SEVEN motherfuckin years!
>he thinks i'm the only one thinking this
kek

SAYLOR IS A BITCOIN BULL BULL BULL

THE BULL OF BULLS WILL BUY THE GOX CORN

>>24707113
well you're going to feel like a real dumbass when you realize 2017 was the last bull run for BTC and it goes back under 1k

>>24707019
im only selling in so much as i'll be using my piffling 0.07 to buy LTC. which incidentally i also had on mtcrotch when it went down, why the hell isn't there any way to claim those back too? this mark krapheels guy needs to be drowned in a vat of steaming cunt pus, i have never hated a human being so much as i hate this evil, hyper-obese manchild from hell

>>24705184
In 2019 150k BTC were released into the supply every 2.5 months. In 2017 it was around every 2 months.

>>24707324
and unlike those mined coins 95% of which are sold immediately to pay for salaries/equipment/power bills, the gox coins are going to a diverse group of people with diverse motives, incentives, bullish and bearish, etc. Lots will sell but lots will also hold. Realistically it only amounts to a couple extra months' worth of mined supply being dumped.

>>24707476
nah, I would say 95% are selling, these asspained people have been locked out for so long. Lots of them sold their claims to Novogratz and other investors for under 1k per coin and you think they won't sell at 18k per coin?

>>24706929
>if they market sell them, it would net them less money while also potentially causing runaway bearish fomo. all parties benefit from an OTC sale. my guess is they'll go to groups like grayscale
Here's a thought: The trustee sells OTC to institutions which doesn't budge the price but just adds to the 'institutional interest' news tsunami that has been building the past few months. Then the trustee reinburses gox victims with USD equivalent to what their BTC would have been worth today, since jap law requires them to be reimbursed in fiat. Then these people, who would have preferred to have received BTC and who are receiving their funds in an environment of extreme FOMO, they turn around and actually MARKET BUY 150k BTC off the books.

If it happens this way, the gox disbursement could actually be the catalyst event for a new parabolic rise, rather than the death knell everyone presumes it'll be.

>>24707786
>Here's a thought: The trustee sells OTC to institutions which doesn't budge the price but just adds to the 'institutional interest' news tsunami that has been building the past few months. Then the trustee reinburses gox victims with USD equivalent to what their BTC would have been worth today, since jap law requires them to be reimbursed in fiat. Then these people, who would have preferred to have received BTC and who are receiving their funds in an environment of extreme FOMO, they turn around and actually MARKET BUY 150k BTC off the books.

Counterpoint: the trustee couldn't give a flying fuck, we know this from when they kickstarted crypto winter by market selling the BTC on a japanese exchange