/biz/ - Business & Finance

[Anonymous No.8222343]

Just discussed with 2 whales in my groups and they are more and more anxious because there are stil 160 000 BTC from Mt Gox to be dumped on the market and we have no clue how it will be done.
The most optimistic think the miners will propose an OTC deal to the trustee (because otherwise it would fuck their business) to buy the stack (or a part at least), the most pessimistic think the uncertainty will cause further drops, even under 6k.

Now that said they don't really want to exit the market because most are bullish on the fundamentals for 2018 and going below 200 millions of marketcap would destroy the trust and burn too many people, sending the golden goose in a year long coma at least.
That's why they plan to cash out a part and for the rest move slowly in the ETH during the coming days, if you see it moving up in satoshis in this period: don't hesitate and jump in immediately.

[Anonymous No.8222359]

>>8222343
wow thanks op just bought 100k

[Anonymous No.8222380]

The flippening will happen swiftly.

[Anonymous No.8222403]

Whats their stacksize?

[Anonymous No.8222582]

>>8222403
We don't really know for the biggest because he is kind of paranoid but it's beyond 1000, probably 2-3k, the second must have around 1000-1200.
There are multiple others in the group with few hundreds of BTC you can't really consider them as whales and they don't really have many connections.

[Anonymous No.8222676]

>mt gox

so this huge amount of btc was stolen from mtgox and now the thieves want to cash out or what?
how could they do so?
btc -> monero -> fiat ?

[Anonymous No.8222705]

>>8222676
No. Please read some news

[Anonymous No.8222714]

>>8222343
PUMMMPPP ITTTTTT!!!

[Anonymous No.8222847]

>>8222676
The Mt Gox BTC have been recovered (around 200k of them) and they are now being sold by the japanese justice through a trustee to compensate the victims.
For now 35k have been sold, the people who are selling them are responsible for the crash to 6k as they panicked seeing the price fall and dumped something like 5000 BTC in one order.

Now 165k remain to be sold and we have no idea how they will do it and when, everyone is fearful because there are clearly not enough liquidities in the market at the moment to absorb these Bitcoin (look at the volume chart, we have as much volume as July when BTC was at 3K which is clearly bad).

[Anonymous No.8223114]

>>8222847
thx

[Anonymous No.8223127]

>>8222847
Why aren’t they just giving the victims their btc back?! Wtf is this autism of selling it to fiat first?

[Anonymous No.8223129]

>>8222847
my ass the next court hearing is in 6 months and it wont be decided even then your "whales" are stupid as fuck

[Anonymous No.8223130]

>>8222714
Damn, that picture, made my day.. still laughing

[Anonymous No.8223405]

>>8223127
It's the japanese law.

>>8223129
Where do you get this info from?
There has been no infos about the date of the next court hearing, doesn't change the problem anyway: there are 165k BTC with someone behind wanting to dump them all.

[Anonymous No.8224390]

>>8222847
>Now 165k remain to be sold and we have no idea how they will do it and when, everyone is fearful because there are clearly not enough liquidities in the market at the moment to absorb these Bitcoin (look at the volume chart, we have as much volume as July when BTC was at 3K which is clearly bad).
They aren't selling anymore unless ordered to by a court but that is unlikely. They sold exactly the amount of BTC and BCH to cover their fiat losses. So basically they shouldn't ever sell anymore. Read the transcript of the Mt. Gox Creditors Meeting, its all in there. They will probably not sell anymore.