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+--- Thread: About 165k BTC to be dumped via exchanges by incompetent trustee (/showthread.php?tid=5809519)
About 165k BTC to be dumped via exchanges by incompetent trustee - getoutnow - Mar 9, 2018
so far he sold like 30k. 165k remain.
he started selling on December and price dropped from 20k to 6k with just 30k
now 165k remain
if you didn't tethered out and are currently waiting for this shitstorm to be over you're going to have a bad time
I'm expecting 800-1k range and then I'll hope back, until then this market is ruined
also, there is a VERY high chance this will just completely ruin the market and we will just see the network dying over a period of a few years
if you think you are "early investors" you are absolutely fucking wrong, there are tons of normies who bought Bitcoin at 17k and probably sold all of it and will never touch this shit again (after you get burned you don't go and touch the fire again)
if you think the government can't control Bitcoin you're absolutely fucking wrong, if the USA government says that any trading of Bitcoin is considered an attempt to help countries like Iran bypass sanctions of just an attempt to money launder with a 5 years jail sentence, 99.99% of people will stop using Bitcoin because it is just not worth the pressure of getting caught.
sure, some libertarians will still use it because of their set of values but the rest of us, including me, will not risk going to jail for some magic internet money
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Amosys - Mar 9, 2018
lol you think market dropped only because of him? What he owns is way less than even daily volume of bitcoin. The news comes out with every other fud. I mean why would he announce it if he still has 165k BTC to dump.
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Fliiix - Mar 9, 2018
Let him sell, the price will go up again and last time it went up i saw the market cap go up with over 50b in just a few hours.
Don't panic just hold until the bloodbath is over. We all know that December-March is the weakest months in Crypto.
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - getoutnow - Mar 9, 2018
(Mar 9, 2018 02:30 AM)Fliiix Wrote: Let him sell, the price will go up again and last time it went up i saw the market cap go up with over 50b in just a few hours.
Don't panic just hold until the bloodbath is over. We all know that December-March is the weakest months in Crypto.
first they say its only january, then january-february, now january-march
what's next? kek
anyways all my claims are based, I'm out until he finishes selling
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Amosys - Mar 9, 2018
Of couse they are not selling it anymore without court's permission.
Please read this one.
https://www.reddit.com/r/ethtrader/comments/82w44o/a_lot_of_misinformation_about_mtgox/
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Evanescent - Mar 9, 2018
Most probably he wont sell now until the market recovers. He has enough money ~$400M to pay the creditors/stakeholders out of $500M which was lost.
So this is imo just the FUD of regulations, governments banning...
My best bet is ~$4k. So let's face it. Still better than $700 - $800 range last year.
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - imadeyouread - Mar 9, 2018
Motherf**** first hacked in 2011 and lost half a million btc, then march 2013 ddosed , february 2014 bankrupt, 2017-2018 selling.
They crashed BTC 4 FUCKING TIMES. idiots
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Menalix - Mar 9, 2018
(Mar 9, 2018 03:44 AM)Nice Rep Bro Wrote: Motherf**** first hacked in 2011 and lost half a million btc, then march 2013 ddosed , february 2014 bankrupt, 2017-2018 selling.
They crashed BTC 4 FUCKING TIMES. idiots
Well I guess it's fine, this is how an unregulated market works/reacts, to witness it, is very learning.
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Rake - Mar 9, 2018
So if it only takes 6000 bitcoin like it said at the top to crash the market,
Was bitcoin really worth 20k?
6000 BTC at 20k is worth 120M.
So it costed roughly ~120M to crash the market over 300B
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - hustle. - Mar 9, 2018
The trustee sold the the BTC to pay back investors , There's no legit source saying he plans on selling 160k+ on the market any time soon. I'm sure after all the outrage on twitter/forums he will use OTC next time. Also to think that 35k bitcoin crashed the price from 20k-6k alone shows how stupid you are.
(Mar 9, 2018 12:55 AM)BrianShiller Wrote: if you think the government can't control Bitcoin you're absolutely fucking wrong, if the USA government says that any trading of Bitcoin is considered an attempt to help countries like Iran bypass sanctions of just an attempt to money launder with a 5 years jail sentence, 99.99% of people will stop using Bitcoin because it is just not worth the pressure of getting caught.
sure, some libertarians will still use it because of their set of values but the rest of us, including me, will not risk going to jail for some magic internet money
Dude stfu ,where are you even getting your information? I never heard the US GOV say anything like that about bitcoin . THE US GOV mentioned something like that about the crypto Petro and other sanctioned countries starting there own crypto. If people in America are using btc to fund sanctioned countries , why are they taking the "Do no stifle innovation" approach? Just sell your coins if you have any because you sound like a complete idiot that trades on fake news and emotions. Fucking clown
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Malentor - Mar 9, 2018
You guys actually believe it will drop to 1k?
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Mad Man - Mar 9, 2018
(Mar 9, 2018 08:13 AM)Malentor Wrote: You guys actually believe it will drop to 1k?
Fuck no. OP is brain dead 😧
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - imadeyouread - Mar 9, 2018
Bitcoin will drop to 1k after 100 years probably, when new technology replaces this. If all this drama didn't get BTC to 1k then I can't think of anything else dropping it to less than 5k, unless 100k btc are sold in exchanges.
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - SIM-1589588 - Mar 9, 2018
(Mar 9, 2018 07:49 AM)Click Wrote: The trustee sold the the BTC to pay back investors , There's no legit source saying he plans on selling 160k+ on the market any time soon. I'm sure after all the outrage on twitter/forums he will use OTC next time. Also to think that 35k bitcoin crashed the price from 20k-6k alone shows how stupid you are.Pretty much this.
Dude stfu ,where are you even getting your information? I never heard the US GOV say anything like that about bitcoin . THE US GOV mentioned something like that about the crypto Petro and other sanctioned countries starting there own crypto. If people in America are using btc to fund sanctioned countries , why are they taking the "Do no stifle innovation" approach? Just sell your coins if you have any because you sound like a complete idiot that trades on fake news and emotions. Fucking clown
@OP stop shilling your stories and you need to read the bankruptcy report.
https://t.co/Hd8T3HlwxJ
So far he have only accepted this amount of claims and rejected remaining claims
45,609,593,503 JPY
and sold this amount of bitcoins and Bitcoin cash.
42,988,044,343
So you can do the math and think about how much he might be selling in future.
RE: About 165k BTC to be dumped via exchanges by incompetent trustee - Omniscient - Mar 9, 2018
(Mar 9, 2018 11:23 AM)J.P Morgan Wrote: Pretty much this.
@OP stop shilling your stories and you need to read the bankruptcy report.
https://t.co/Hd8T3HlwxJ
So far he have only accepted this amount of claims and rejected remaining claims
45,609,593,503 JPY
and sold this amount of bitcoins and Bitcoin cash.
42,988,044,343
So you can do the math and think about how much he might be selling in future.
I had some minor BTC in MTGOX many years ago. It was probably less than $100 worth but now I wonder what that BTC value would be. But they are only compensating the dollar value and not returning the BTC.
One almost wonders if members would rather have a fraction of their BTC back instead of a check. At least that wouldn't crash the market.