On December the 22nd, the trustee moved 6,000 bitcoin. That’s the big red daily candle above labeled 2...

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

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

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

...

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

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?)

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

>Only 130k left!
166k

that will truly be a wonderful day, i cannot wait

Just went 100x short. Easy money

So the whole crypto market got overplayed by some chink?

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

Can someone link me this faggots' wallet?

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???

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

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

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.

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

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

who is the trustee???

Hannibal please?

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.

...

How hard would it be to have him killed?

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

how hard did you get JUSTed?

retards, this is good for BTC.

can we find this guy and kill him?

no, they get worthless dollar tokens

BITCONEEEEEEEEEEEEEEEEEEECT

equivalent to some time after the goxxening

CONEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

You can find your reddit book mark and go back

lel; MT Gox wallet lead to this

blockchain.info/address/1N52wHoVR79PMDishab2XmRHsbekCdGquK

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

biz is slow as always

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?

>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.

>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.

So whats the wallet addy

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

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

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.

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.

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.

lul. nice comeback. kill yourself nigger

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?

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.

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

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

>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

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.

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.

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

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

What is OTC?

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

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.

over the counter

i forget how many novices are actually around here sometimes lmao

KARPELES ISNT THE ONE SELLING YOU MORONS

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

He made the bottom

See 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.

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

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.

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...

>Yet that 1

Yet those 2**

said the little bitch with

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.

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.

>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.

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

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

...

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.

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

lmao stay mad faggot

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

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

BOGGED

>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.

S H R E K T 2
H
R
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K
T

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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.

>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.

This user gets it. BTC is free now to soar.

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.

I bet you said the same thing about the futures.

>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?

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

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

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

>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.

>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.

Is this a reddit thread?

>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.