/biz/ - Business & Finance

[Anonymous No.8183866]

>On December the 22nd, the trustee moved 6,000 bitcoin. That’s the big red daily candle above labeled 2, sending price from nearly $16,000 to a brief low of $10,800.
>It appears he gave some time for the market to recover, then on the 17th of January at 3AM he sold 8,000 bitcoins. Crashing the market again.
>He then sells another 6,000 on the 31st of January, but the vast majority was sold on the 5th of February, 18,000 in total. Sending the price to its recent bottom from which it then went on to recover and nearly double as the selling finally stopped.


LMAO
LMAO
LMAO
GOX'D AGAIN!!!

[Anonymous No.8183892]

>bitcoin is the future

[Anonymous No.8183915]

>>8183866

Who is the trustee?

[Anonymous No.8183930]

>>8183915
https://www.trustnodes.com/2018/03/07/mt-gox-crashed-bitcoin-trustee-sold-bottom-blockchain-data-reveals

[Anonymous No.8183950]

Truly the gift that keeps on giving.

[Anonymous No.8184010]

Only 130k left!

[Anonymous No.8184033]

>>8183866
So all the crash are explained, how much btc are left to sell?

[Anonymous No.8184069]

what's the address?

[Anonymous No.8184096]

>>8183866
>thinking someone selling 6000 btc would have that much of an impact.

Lol. BTC daily trade volume is 8 Billion, 6k btc only 60 million, not even 1%

[Anonymous No.8184101]

>>8184069
see it, nvm

[Anonymous No.8184122]

>>8184096
You're retarded. Google what "volume" is.

[Anonymous No.8184127]

>>8184096
What is a 6000btc market sell. Holy shit you're not too bright.

[Anonymous No.8184147]

>>8184096
If one percent of the daily global volume is dumped at once what do you expect to happen retard

[Anonymous No.8184153]

[Anonymous No.8184165]

>>8183866

i am looking forward for the day when we will be satoshi'd

[Anonymous No.8184184]

>>8184096
Most of it is wash trading, on bitfinex 6000 btc is enough to make the price drop by +$1000 (bitfinex volume is not far from 1 billion I believe?)

[Anonymous No.8184196]

Why the hell are they selling on exchanges and not OTC its almost like they want to lose money on purpose.

[Anonymous No.8184200]

>>8184010
>Only 130k left!
166k

[Anonymous No.8184206]

>>8184165
that will truly be a wonderful day, i cannot wait

[Anonymous No.8184230]

Just went 100x short. Easy money

[Anonymous No.8184270]

So the whole crypto market got overplayed by some chink?

[Anonymous No.8185024]

doesnt the rest of it have to be distributed back out to the people who got hacked?

[Anonymous No.8185038]

Can someone link me this faggots' wallet?

[Anonymous No.8185071]

how has no one taken out a hit on these gox dickheads, by now...
just got he south korean route... best way to deal with (((their))) tricks...
trustee, my ass...

[Anonymous No.8185147]

>>8183866
Why would you be this fucking dumb selling it in big amounts like that instead of small units like they do when a CEO is dumping his options???

[Anonymous No.8185153]

>>8184196
lol yeah that's a great point, it's like this is the first time someone is trading and dumps it all at once

[Anonymous No.8185165]

God bless deregulated markets. Can't wait to get JUST'd by some retard holding 160k bitcoin

[Anonymous No.8185172]

>>8185147
Because he has 150k BTC more. He doesn't give a flying shit if he crashes the market and causes NEETs to suicide, he had courts to pay.

[Anonymous No.8185180]

guarantee charlie lee knew this was going on which is why he tweeted he sold everything lol
this is fucked the entire market got pwned by 1 player

[Anonymous No.8185200]

>>8184096
he dumped it and caused a crash causing others to dump too.

[Anonymous No.8185297]

>>8185172
who is the trustee???

[Anonymous No.8185319]

Hannibal please?

[Anonymous No.8185327]

>>8185180
not one player, but a group of people. the entire bull market, from 1k to 20k, was mostly wash trading between their bots and insiders. BTC will go back to 100 dollar a piece soon. this will be known as the biggest scam in human history. the "truther" movement and "conspiracy theorists" are behind this as well (they are always the ones pushing people to buy gold/silver and now bitcoin. YOU'VE ALL BEEN SWINDLED LOL. Fuck this shitty scammy market of shit.

[Anonymous No.8185445]

[Anonymous No.8185519]

>>8185445
How hard would it be to have him killed?

[Anonymous No.8185603]

>>8184096

You can ganerate $1,000,000 volume with $1k lol

[Anonymous No.8185659]

>>8185327
how hard did you get JUSTed?

[Anonymous No.8185669]

>>8185445
>>8185519

retards, this is good for BTC.

[Anonymous No.8185742]

can we find this guy and kill him?

[Anonymous No.8185767]

>>8185024
no, they get worthless dollar tokens

BITCONEEEEEEEEEEEEEEEEEEECT

equivalent to some time after the goxxening

CONEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

[Anonymous No.8185801]

>>8185742
You can find your reddit book mark and go back

[Anonymous No.8185829]

lel; MT Gox wallet lead to this

https://blockchain.info/address/1N52wHoVR79PMDishab2XmRHsbekCdGquK

1.6 million BTC in volume through this wallet, transaction in progress too

[Anonymous No.8185908]

biz is slow as always

[Anonymous No.8185915]

>>8184200
>>8183866
this is absolutely crazy that the japanese authorities give licence to anyone to sell those coins. that guy literally go to bittmex and become a multibillionaire with 100x leverage in a week, and that's just the most obvious way to make money off this.

the people getting gox'd should be getting back their BTC, not the valuation. they're so fucking because bitcoin was a few hundred bucks at the time of the mtgox hack, if they only get back their USD worth what's gonna happen with the rest of the funds?

[Anonymous No.8186031]

>>8185915
>what's gonna happen with the rest of the funds?
Mark gets to keep it. Billions of dollars in Bitcoin will buy a LOT of dessert-like coffee drinks.

[Anonymous No.8186043]

>>8185445
>muh 500 million
kek, this is what you get for pouring your fucking lives into this dog and pony market, 500m is a shit tier average options barrier in forex, the market hardly blinks.

[Anonymous No.8186229]

So whats the wallet addy

[Anonymous No.8186588]

Why this guy needs so much money? He could retire with 50BTC. NOT TWENTY FUCKING THOUSAND BITCOINS EVERY MONTH

[Anonymous No.8186609]

>>8183866
>but the vast majority was sold on the 5th of February, 18,000 in total.
Holy shit he sold the bottom!

[Anonymous No.8186746]

>>8183866
I call bullshit.

You CAN'T tank the market from 16k to 10k with only 6000 bitcoins, especially across all exchanges. Look at the order books at Bitfinex. You'd tank the market by $500 at most, after which it would quickly rebound.

It's just a silly explanation of the crash.

[Anonymous No.8186801]

>>8186746
not on it's own. But markets are based on emotions.
>People see a huge sell order go through.
>Oh shit
>Does some insider whale know something I don't?
>I need to get out before this drops even more
This snowballs into the crash that we saw.

[Anonymous No.8186913]

>>8186746
Sure you can, it went up to 19k in just a day or two meaning the support was not there. And you better bet that when people saw it going down they removed their buy orders from the book.

[Anonymous No.8186968]

>>8185801

lul. nice comeback. kill yourself nigger

[Anonymous No.8186997]

>>8186801
Well, there are different options. The first (and most rational one) is if he simply set a sell wall. It would not cause a market crash. Second, Bitfinex and Huobi have a separate hidden marketplace for whales (OTC) where they can exchange multi-million orders directly, without affecting the market.

And finally, there are arbitrage bots. They act VERY fast, faster than any emotional traders. They will compensate for the price difference solely because on other exchanges the price remained the same. If you remember, there was an Ethereum incident on GDAX when the price was dumped to zero. Did it stay there for long?

[Anonymous No.8187026]

>>8185445
>>8185519
This guy is a fucking idiot for managing to get his name out to the public. Doubt he has much time left in this life.

>>8185669
No it isn't because he's only dumped 24k BTC and there's still another 160k BTC left in his hands.

[Anonymous No.8187110]

>>8183866
>all major movements in the last months were caused by a single party
>the future of currency
Seriously is it over this time

[Anonymous No.8187449]

>>8184200
>There’s a raft of claims and counterclaims by the trustee, including a petition to bankrupt Mark Karpeles.
>As such, any distribution appears very unlikely before all these proceedings are settled, which could at this rate be another half a decade, with all the legal expenses paid by the creditors.

He won't get to touch the rest before the bankruptcy proceedings against him personally are settled. So we're got another 4-6 years before the faggot is allowed to touch the remaining BTC.

The BTC that was touched amounted to the exact amount that Mt. Gox was sued for. So it was almost certainly liquidated with the courts blessing to pay the claims that Mt. Gox owed after the bankruptcy proceedings ended.

So calm your titties. We've got half a decade.

So summed up for brainlets:
>Mt. Gox has been in bankruptcy proceedings for 4 years now
>Karpeles liquidated just enough BTC to pay the claims that Mt. Gox owed after being sued
>The same authorities are now opening bankruptcy proceedings against Karpeles personally, because he stands as trustee of the remaining BTC
>Meaning they'll negotiate for another 4-6 years who should get how much BTC, or if Karpeles should have the right to keep any BTC at all

[Anonymous No.8187562]

>>8187449
It wasn't Karpeles. It's the trustee.

The trustee only sold enough so that the creditors could be reimbursed in full according to fiat losses (btc losses converted to fiat value at time of loss: $438).

He won't be selling any more until it's decided what to do with the rest of the BTC. That won't be decided until the next creditor's meeting which is 6 months away. Most likely the decision will be to distribute the remaining BTC among creditors as BTC.

[Anonymous No.8187576]

>>8186997
But if you read the articles, Karpeles, the absolute retard that he is, market sold BTC across several exchanges on 3 separate occasions (every time we saw a massive dip).

He could have easily opted for OTC, and it wouldn't have had much effect, but he's a filthy little rat with no regard for anyone else but himself, which Mt. Gox showed. So because he was ordered by the courts to liquidate just enough to pay off the claims against Mt. Gox, the psychopatic little rat most likely deliberately decided to fuck over the entire cryptomarket by dumping it all on the open market.

In 4-6 years, if Karpeles does get access to a portion of the BTC that came from Mt. Gox, that will be the day I sell my stack and sit on the sideline for a while.

[Anonymous No.8187602]

>>8187562
My bad. You're right. I misread the article.

[Anonymous No.8187604]

>>8186746
A hacker just made millions off of a via pump and bitcoin went down more than $1000 and still hasn't "rebounded"

[Anonymous No.8187630]

>>8187576
What is OTC?

[Anonymous No.8187662]

>>8187604
Need new money to rebound. Cashing out is why everything falls. December bred hands of the weak. Nobody hodl's anything.

[Anonymous No.8187686]

>>8187630
Over-the-counter.

It's basically P2P with a trusted escrow service in the middle. You want to buy a large amount of BTC, but if you do it on the open market you'll push the price up too far. I want to sell a large amount of BTC, but if I do it on the open market, I'll push the price down too far.

So what do we do? We both go to the OTC exchange and simply buy/sell to eachother. The BTC price doesn't move at all, despite $100M+ worth of BTC changing hands.

[Anonymous No.8187697]

>>8187630
over the counter

i forget how many novices are actually around here sometimes lmao

[Anonymous No.8188010]

>>8187576
KARPELES ISNT THE ONE SELLING YOU MORONS

[Anonymous No.8188252]

Kill the trustee and associates. That's 166k less BTC to exist

[Anonymous No.8188345]

>>8186609
He made the bottom

[Anonymous No.8188443]

>>8188010
See >>8187602

I misread Karpeles to be the Mt. Gox trustee, which I thought was fucking insane to begin with. But you never know with the Japs.

[Anonymous No.8188489]

>>8184096

fucking brainleeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeet

do you understand how much volume bots generate trading back and forth with minimal margins?

well clearly you dont not sure why i asked

[Anonymous No.8188547]

>>8188489
This. I have 2 BTC alone trading shitcoins on Binance, selling with 0.8% profits. Yet that 1 BTC generates nearly 48 BTC worth of daily volume divided between the shitcoins that the bot buys.

A fuckton of bots trade with much, much larger stacks than me, and with lower profit margins. Those fuckers will sell at 0.2 - 0.3% profit, and thus make a lot more trades and generate a fuckton more volume.

[Anonymous No.8188567]

Isnt the question to ask WHO would buy millions of BTC OTC like this?
If you think about all the funds wanting to offer Bitcoin products to their investors, its not so stange. However, I cant see them wanting to buy bitcoin at such a high price, If only the price could drop somehow...

[Anonymous No.8188573]

>>8188547
>Yet that 1

Yet those 2**

[Anonymous No.8188588]

>>8187697
said the little bitch with <$10k in crypto

[Anonymous No.8188631]

>>8188567
Lots of people.

A buddy who held since 2014 liquidated $6M through an OTC platform. Took him less than 3 hours before a willing buyer appeared.

No sane person will sell $5M+ on the open market, and no sane person will buy $5M+ on the open market. Not when you can get a much better deal by doing an OTC deal.

[Anonymous No.8188659]

>>8188631
>>8188567
Oh, and there is room for negotitation.

When the price was $20k and there was indication of stagnation, a buyer could have offered $18k per BTC. Even at that price, the person selling $400M worth of BTC would have made more per BTC than if he market dumped it.

[Anonymous No.8188672]

>>8188631
>A buddy who held since 2014 liquidated $6M through an OTC platform. Took him less than 3 hours before a willing buyer appeared.
What kind of person buys 6 mil worth of BTC OTC though. I understand your buddy selling, but I'm trying to understand the motivation for the person buying INTO BTC. And especially at those insane volumes.

[Anonymous No.8188686]

>>8183866
bitcoins daily volume is like U$8.5 billion how is U$1 billion even supposed to scratch it's price?

[Anonymous No.8188687]

>>8188567
Benefit to the seller because you can buy at markup.

Benefit to the buyer because they're buying in anticipation of a price increase and dumping a large amount on the market could sour a bull run

[Anonymous No.8188721]

>>8188686

[Anonymous No.8188727]

>>8188672
Speculators with too much money on their hands.

You've got richfags from all walks of life getting into crypto. From sons of Russian oligarchs to Sheikhs who want BTC because why the fuck not.

[Anonymous No.8188779]

>>8188588
You asked a novice question, and he answered. Why are you being a cunt?

[Anonymous No.8188810]

>>8188588
lmao stay mad faggot

[Bluenigga !6/n4nwZbwk No.8189171]

>>8186031
Can we wack this fat fuck?
I'll throw down 17 LINK to help pay lmao.

[Anonymous No.8189275]

>>8187449
>Meaning they'll negotiate for another 4-6 years who should get how much BTC,
That's the part you are just guessing at.

[Anonymous No.8189287]

BOGGED

[Anonymous No.8189306]

>>8187576
>but he's a filthy little rat with no regard for anyone else but himself
Because he traded on the open market. Right. Got it.

[Anonymous No.8189336]

S H R E K T 2
H
R
E
K
T

2

[Anonymous No.8189349]

>>8184033
This made me look at BTC in a much more bullish sense, if this is the case all the big "crashes" are not really organic, nor is it part of any whale wars.

[Anonymous No.8189373]

>>8188659
>Oh, and there is room for negotitation
What you mean by that is the seller will still take a lower price, you just want to hide the deal so everybody else doesn't catch on to the true market value.

[Anonymous No.8189405]

>>8189349
This anon gets it. BTC is free now to soar.

[Anonymous No.8189407]

>>8189349
That's what I was thinking about too. People here should be happy about this, not pissed.
But they won't be until someone explains it to them, and even then it will only last until the next Braap & Sniff post, and then all will be forgotten.

[Anonymous No.8189553]

>>8189349
I bet you said the same thing about the futures.

[Anonymous No.8189862]

>>8183866
>mt. gox is based in Japan
What I think people on this board keep forgetting is that Japan hodls the largest majority of BTC volume by currency. I always see posts such as "The Americans are waking up" or "chinks please don't sell" as if the Yuan or the Dollar are what really moves BTC. The JPY has the most influence over the market, and thus FUD or scandals related to Japan will always be more harmful to BTC than anything that happens in chinkland or the United States of Amerimutts. You guys realize that the eternal nippon owns your coins, right?

[Anonymous No.8190647]

>>8184200
Holy shit 168000 bch yet to hit the market
Bch gonna be FUCKED

[Anonymous No.8190710]

>>8186913
>It's going down so better remove my buy order

[Anonymous No.8191196]

>>8183866
LMAO, how many bull TA fags go completely fucked over this. Your TA won't save you from whales.

[Anonymous No.8191257]

>On December the 22nd, the trustee moved 6,000 bitcoin. That’s the big red daily candle above labeled 2, sending price from nearly $16,000 to a brief low of $10,800.
>It appears he gave some time for the market to recover, then on the 17th of January at 3AM he sold 8,000 bitcoins. Crashing the market again.
>He then sells another 6,000 on the 31st of January, but the vast majority was sold on the 5th of February, 18,000 in total. Sending the price to its recent bottom from which it then went on to recover and nearly double as the selling finally stopped. And it's speculated that he still has 180k bitcoin left to sell.

But the worst part is this:

Imagine, if he coordinates a margin short everytime he does a sell off. So, even by dumping his bitcoins he will still end up with more bitcoins due to the massive profit he is getting by shorting. Any serious investor will avoid investing in bitcoin after knowing how easily a few whales can crash this shit.

[Anonymous No.8191282]

>>8187026
>No it isn't because he's only dumped 24k BTC and there's still another 160k BTC left in his hands.
read the court documents brainlet. he had to sell to pay for the lawsuits. now the court is locking those up for years and will revisit the situation then. those will not be market sold and it will not crash the market.

[Anonymous No.8191316]

Is this a reddit thread?

[Anonymous No.8191327]

>>8191282
>now the court is locking those up for years and will revisit the situation then. those will not be market sold and it will not crash the market.
Those are literally earmarket for crashing the market again. We will never see BTC $100k withose those 160k wild coins still floating around.

[Anonymous No.8191363]

>>8183866
wtf???
does that mean like only 50k bitcoin have value and the rest 18million is trashbin? good to know I blow everything I had on crypto. myabe I will off myself

[Anonymous No.8191370]

Did they mention which exchanges he sold on?

[Anonymous No.8191387]

>>8191370
kraken

[Anonymous No.8191422]

>>8191387
Just 1 exchange?

[Anonymous No.8191451]

>>8184200
We need to moved to ETH pairing and abandon BTC pairing or we are all fucked

[Anonymous No.8191472]

>>8191387
bullshit there's not enough liquidity on Kraken

[Anonymous No.8191482]

>>8183866
Sauce or bullshit

[Anonymous No.8191531]

>>8188672
>I'm trying to understand the motivation for the person buying INTO BTC. And especially at those insane volumes.
because there are people, who unlike 99.99999999999% of this board, have knowledge on a vast array of subjects, and possess the gift of foresight. they use these gifts and their knowledge to frontrun the market. these people KNOW that crypto is the future in all major aspects of business and finance and have the patience the wait for the harvest. that is why someone would buy $6million worth of BTC with these "insane volumes" because $6 million is peanuts compared to what it will be worth not only in a few months,into perpetuity. this is when new superpowers are being formed. literally not throwing all their money into crypto while they had the chance will the #1 regret people will have in 2 years. book it.

[Anonymous No.8191565]

kek what if tether bomb goes off now?

[Anonymous No.8191627]

>>8191531
I regret only getting into crypto just this year
I don't know if I'll regret it in the long run but I'm pretty sure there's a lot of people who regret ignoring it from 2011 up to 2017, there's probably people who regret cashing out too soon too

[Anonymous No.8191655]

>>8189349
>>8189405
>>8189407
>People here should be happy about this, not pissed.
non retards on /biz/, nice

[Anonymous No.8191685]

>>8191327
>not reading the cour documents like oroginal post said
>conveniently do not post that in reply

[Anonymous No.8191866]

>>8191531
Or, alternatively, those are high-volume algorithm arbitragers

[Anonymous No.8191909]

>>8191866
whooooooooooooooosh

[Anonymous No.8191979]

Well im out as soon as i break even. Im sorry but this dick slurping game is not for me guys. See you in 5 years /biz/, its been fun

[Anonymous No.8191991]

>>8184200
Are you guys sure this amount won't go up? Someone is clearly making a lot by dumping.

[Anonymous No.8192009]

>>8185172
An he probably went short on it while he dumped.

[Anonymous No.8192014]

>>8191979
thanks for playing

[Anonymous No.8192052]

>>8191627
im planning to get in sometime this week, i think btc will go around 8800 and then i ll go in

[Anonymous No.8192061]

>because there are people, who unlike 99.99999999999% of this board, have knowledge on a vast array of subjects, and possess the gift of foresight. they use these gifts and their knowledge to frontrun the market
Those people use their brains and wealth to build expensive, sophisticated algotrading farms that generate money with market making algorithms regardless of the market's direction, profiting off of lousy speculators.

[Anonymous No.8192080]

>>8183866
"it will never be below 10k again"

[Anonymous No.8192082]

I...I can't believe we got double Gox'd

[Anonymous No.8192084]

>>8191627
Basically this, I think you could have done just as well Jan 1, 2017 to Dec 31, 2017 as you could have buying BTC in 2014. Only 50-70x, plenty of coins did better last year alone. Even Litecoin did better, under, $0.1 I think last year

[Anonymous No.8192087]

>>8191866
>>8192061
>t. short term thinker

[Anonymous No.8192130]

>>8192087
Being able to milk the market whatever happens is the highest form of long-term thinking possible. The world of industrial algotrading is too secretive and complex to understand for brainlets, who often don't even realize that they already entered crypto and are not on their (the brainlets') side

[Anonymous No.8192152]

>>8192061
>algotrading farms
read the post to which i replied and the one before that, so you have context. it was asking about an OTC sale, you fucking mong

[Anonymous No.8192170]

>>8192130
see this >>8192152

[Anonymous No.8192186]

>>8192130
>world of industrial algotrading is too secretive and complex to understand for brainlets
It's really not

[Anonymous No.8192208]

>>8192152
OTC is a blessing for large volumes. If you have 1000 btc to buy or to sell, in both cases you'll get a better deal with OTC. High-volume algotraders sure as hell are using OTC.

[Anonymous No.8192229]

>>8192186
It really is. Who do you think owns those thick buy and sell walls?

[Anonymous No.8192256]

>>8192229
Rich whales / institutions with bots. But honestly you just need semi competent programmers and funding. That and a finance advisor. Then it's kinda easy. Not that that's at all easy to put together. But I'd say starting an energy drink company is about as difficult.

[Anonymous No.8192354]

>>8192256
"Semi-competent programmers"? lol
You clearly have very little idea of what it really is. The math stuff that they're doing is so complex that it's basically like pure science. That's why only those who are both wealthy and smart are doing it. Wealthy and dumb, not so much.

[Anonymous No.8192385]

>>8183866
>Mt.Cucks not letting btc soar to 30k before dumping

confirmed pajeets

[Anonymous No.8192409]

>>8189862
Tokyo attacks

[Anonymous No.8192433]

>>8192354
Yeah honestly semi competent would cut it. They don't have to be god tier, but when I say semi competent....I mean like maybe Berkeley tier instead of Stanford. It is science. I have a good idea. I think finding a trustworthy programmer + good finance advisor would be the hardest part.

[Anonymous No.8192483]

>>8192208
Where would one find these OTC platforms? Asking for a fiend.

[Anonymous No.8192526]

>>8192433
They hire people with a math background because it operates on complex statistics and probability theory. Because of competition, algo farms have their own proprietary algorithms kept in secret. But even the public works on HFT and algotrading are incredibly hard for the layman to merely get the basic notion of.

>>8192483
Bitfinex, Huobi

[Anonymous No.8193134]

This cunt's going to get assassinated isn't he

[Anonymous No.8193181]

>>8192409
that chart is bullshit. there are a different number of candles between almost all the time gaps.

[Anonymous No.8193823]

so it all depends on what low he is willing to sell his bitcoins for?
wtf 166k left to go we are fked