BTC is basically worthless now. We know that there's an entity holding 160k BTC...

How does selling them OTC not eventually end up being almost as harmful as direct market orders?

>short btc on 100x margin
I'm not retarded. But I am gonna refrain from buying crypto for the near future.

>sub 1k bitcoin

delusional fucks like you always end up in the same place, they either take a 50% profit or a 50% loss, then years later they brag about how much bitcoin they owned at one point in time as if anyone cares

ETH and their """centralized"""" hard fork doesn't seem so bad now does it?

No we don't, the trustee sold enough to get the funds needed to reimburse those who lost money in MtGox, what will happen to the rest of the coins we don't know, depends on what the Japanese court handling the case decides

They will be taken. Unless he buys some untraceable ledger coin

Basically buy monero NOW

megawhale whose interest is not in seeing BTC price increase and has not motivation to make money from BTC. sole purpose is to offload at certain price range and now its clear what that price range is.

Do you realistically see them deciding to burn the funds? Somebody's bound to do some selling and the bad news is that now everybody knows it. That's a Satoshi wallet tier level of uncertainty, except that now we know that this Satoshi is alive and wants to dump.

I'm not even FUDing, but tell me this isn't the reality of the situation? BTC is worthless in this situation, why would anybody touch it instead of alts now?

we dont know all costs associated with this.

dude, this is nothing new, it was all get fixed, btc is going to be #1 for a while. the flippining is just speculation in a highly speculative market. it will happen, but not cause of this, like the whales will not always control this market, does not matter the coin.

everyone in control of these funds is probably making a killing on the side.
Imagine being able to legally manipulate the whole crypto market with funds that are not even yours... " tihihihi so clumsy i just sold thousands at the time and crashed everything but it was just a court order! "

Am I the only one seeing this being bullish af long term? Literally one whale has been able to suppress the price and crash the market at his own will.

Sure this might mean we are in for a quite long bear market until he sells everything but the only reason BTC has crashed now several times is because of him.

Without this guy BTC would have continued mooning past the 20k god knows to what extent

And who clearly has no care about the health of the crypto market either. The remaining funds will surely be sold sooner or later.

Yeah oops, he just didn't notice the market reaction his selling caused, right?

They could decide to give back the rest of the btc to those who were hacked in MtGox, a decision could take years anyway. At this point there's no way to know whether they're gonna keep selling anytime soon

Several entities own that many coins, user, we all knew that. We also know that if one is making it known that he plans to sell, the others won't stay back and let him tank the market before they can get out. See it as mutually assured destruction.

Probably nothing will come out of this, it's all talk for now. It's only if it gets more serious and someone makes the first move that we're fucked, but it's always been this way.

Long term it's not bad, but right now this can go either way. But BTC is fucked regardless, it just lost all attraction over alts.

So you're afraid of one person having too many bitcoin so you want to move to an altcoin?

What kind of logic is that the altcoin megawhale will dump on you too and what will you do then?

The more BTC is spread out, the stronger it will get. Growing pains. Great opportunity to get in.

Exactly, even if nothing happens for now, which is the most likely option, it's gonna be a bad omen and throw shade on BTC. I'd be surprised if this news doesn't cause investors shifting to other cryptos away from BTC.

He sold 18k when we dipped to 6k. And we survived. Thats kind of insane actually. Someone needs to kill this gook fuck though

REJOICE

THIS IS THE SUNSET

A NEW DAY WILL FOLLOW THE LONG NIGHT

FIAT ALT PAIRINGS COMING SOON

Good point, thanhs user

satoshi holds 5 million btc faggot

Yep, assuming we get those fiat pairings soon this might not end so badly for non-BTC cryptos.

he's not dumping because he's either dead or a nice guy

Give a fuck I hope that stupid old dinosaur dies. OFC then we'll have to wait another 2 years for the plebs to realise that "bitchain or whatever you call it" isn't the only cryptocurrency

>BTC is going to 1K
>im not FUDing lol
>altcoins arent dependent on BTC price

the absolute state of crypto

That your only hope?, that other coins are cucked to BTC? Sad.
Theres like 10 exchanges working in FIAT pairings and once that ball is rolling is BTC below 1K

>35K BTC sold in three months.
>For comparison, ~160K BTC were mined and probably instasold over the same period of time.
>At $10K/BTC, 2Billion$ must have entered the market to maintain the price.
>That amount of money coming in is VERY bullish.

this

160k were mined? A quick calculation says around 13k assuming 10min block time. You're right that the price staying up is bullish, but not for BTC at this point

quora.com/How-many-new-bitcoins-are-created-on-average-per-day

Sell them to Tim Draper

Mtgox trust only has to sell enough to cover costs
They don't have to sell the entire amount
And they've already covered those costs. That's why the news came out.
You're a dumb fuck

>So you're afraid of one person having too many bitcoin
You are a retard. The problem is not him owning too many bitcoin, the problem is him court ordered to market sell all his bitcoin.
He singlehandedly caused this crash and can drive the price to 0 if the jap court tells him to dump.

Oops, true

Retarded. That money isn't "coming in" it's just old money reinvesting from higher prices. Also as time goes on people feel more comfy using leverage on longs and shorts. It's not MORE money, it's the same fucking money being recycled and boosted.

>what will happen to the rest of the coins we don't know
Hence it will cast a shadow over btc you idiot. The remaining coins, if distributed, will obviously be sold by many of the recipients. Free money is free money.

Isn't this good long term? We can buy BTC at discount.

Nope. New bitcoins = new money. Or else the price falls. Dummy.

It's not good, because the normies are getting crushed and won't come back to the market for years.
Guess what happens when the jap is market dumping, but there is no dumb money to buy his bags.

Court didn't order him to do that
Costs need to be covered and those costs are nowhere near the total amount of btc mtgox trust holds even if they sold at 1k eachc

The normies that got burned already left though, even if this results in a 2-3 year bear market this just gives us more time to accumulate. Greed overpowers logical thinking, normies will come back, not to mention institutional money that is waiting to invest.

what are the costs? doesnt the trust hold an absolute shitton of btc worth billions?

>The normies that got burned already left though
No, most are bagholding.
If crypto markets doesn't get a new bullrun this year, it's finished for good. Simply because the little tech value it has, will be implemented by corporations via own closed-source solutions, like R3 already does.

The whole point of the crypto market currently is to make money, if it doesn't make money it will be discarded.

>whale forced to sell low
>Veeky Forums worries about it instead of filling boots

Just saying, these kinda debacles ITT are what I was talking about. You could put a positive spin on this, but not when that tiny amount was enough to harm the markets and the provably unpredictable trustee is still holding the bulk of the coins. BTC simply became an uninviting investment until this gets resolved, I don't see how the market could keep buying it up, apart from sheer dumbness.

Are you stupid? Aren't you reading that BTC is going to keep falling because the big stacks are being sold?

Sounds like a great time to sell, and just buy after the order to dump goes live.

Easy money anons

Whales will buy all those coins at low prices will take time once there gone liftoff.

TBC not BTC
TBC is based on a abundance algorithm so nobody sells
the price has literally never gone down so far, I've made 16MM of of it you should really look into it
They are opening a fiat exchange real soon and than I can unload all my bags on unsuspecting nigerians and elderly couples from florida

GOXd

Round2

Dat pajeet tier graphic design. KYS please

the problem is it could happen again

BTW the fate of the rest of the coins will not be decided for years. This will be another 4-6 year protracted legal process. It took forever to rule this portion of coins would be market sold to cover fiat losses. It will take equal long (if not longer) to decide what to do with the rest. In the meantime someone just put out a hit on the trustee so the private keys are lost for good.

BTW whether or not the tech amounts to anything as far as smart contracts etc. go Blockchain has already succeeded in it's original use case. BTC as a peer to peer cryptographically secured store of value has been an overwhelming success. There will be no flippening and it doesn't even matter if lightning works (probably better if it doesn't) because it doesn't derive it's value from being a currency. It is valuable as a secure store of value. It will continue to be used in this way and grow in value.

who you calling a pajeet designer here?
The billion coin is not a pajeet designed project
The billion coin is real, I bought a real car that I use in real life with a full billion coin

non billies btfo in this crash

Centralized blockchains don't make any sense. Cryptocurrencies will be adopted you will see.

What do you think happens once BTC reaches the bottom? Now that we know what caused the big crash BTC is free to skyrocket, again think long term.

This is what people said after Mt. Gox

Smart user

I’m all in on TBC
I’m a multimillionaire (In the community)

Not a problem. Would just need bigger boots.

my nigga, it might be worthless but thats only to people who aren't (((in the community)))
once the entire world adopts the billion coin we will be the early adopters

Imagine being so stupid and so smug at the same time.