Its Actually Time to Leave Bitcoin

As most of you have probably heard Mt Gox has started to sell and just with a tiny portion of their holdings sold it devastated the markets. They still have 165 million Bitcoin, BCH, and all the other Bitcoin forks to sell and they plan to continue selling. Even if this is done slowly, its going to be enormous downward pressure and we will be in a bear market AT LEAST for the rest of this year. (considering this God knows what would happen if Satoshi coins started to be sold) Unless...we finally do it...we finally collectively ditch Bitcoin (and I mean all Bitcoin forms) and make it an irrelevant part of the market. Its the only way to make the markets healthy again.

Lets face it, the only reason to have BTC anymore is trading on exchanges or because of some sentimental value. We all know some other crypto is the future. Nobody with sense debates it anymore. At this point, its in everyone's best interests to switch to something else, probably ETH for the moment. That's not to say ETH is the future either necessarily, but its the only other viable option given current exchange support. Decentralized exchanges are also based on it right now so it makes sense in that realm.

Selling the rest of my BTC. I'd suggest you do the same. You're better served keep that money in some coin with a revenue model or something real demand driving it like XMR or a dApp coin like Eth.

so close to fucking quints OP

Kek almost believed you, so did I

>165 million bitcoin and bch

I know. Still the truth and what must be done user. Doesn't have to be ETH, but we can't stay in Bitcoin anymore. Its time to let go.

Sorry 165,000. Honest misstype.

How exactly do we ditch it? Do you mean sell it? As in for someone else to buy it? How do you see this working?

don't tell me, I was late to the party after the China FUD last autumn, so I never actually used any BTC. ETH -> other alts all the way.

Try to persuade those fucking boomers of crypto to stop measure everything in sats

more people want to sell than buy, the price goes down, people move to alts

which part you don't get?

see you at $350 (pronounced tree fitty)

The part where OP is calling for a collective abandonment of Bitcoin. All the while people can sell is because people still want to buy. Bitcoin isn't going anywhere.

The fuck is everyone so scared for
Lets say they do sell all 165k
They sell and market drops yeah yeah yeah
bitcoin will be low for a while but it'll just be distributed among everyone and the price will EVENTUALLY return
It'd be better off in the long run if he didn't have the bitcoin in his hands
he knows that though

Yeah exactly. Sell it and use something else to transact with and use whatever else as your trading pair on exchanges. Obviously some people will buy and be left with bags at the end of the day but that's kind of unavoidable. Hopefully the bagholders are ones like Mt Gox.

Its not just that Bitcoin will be low for awhile, this will keep the whole market bearish for a long time and probably compound on itself as people do get scared.

so you're telling me this guy has 320k btcp?

This actually means btc would be worth much more by now if this wasn't for this price manipulation
Isn't that good?

>increasing supply without the accompanying demand and capital
>what is supply and demand
I swear people on Veeky Forums are just retarded.

...

dunno his exact amounts, but BTC, BCH, BTG, BTCP, and all the other forks he's got enough to crush their prices.

pretty sure it was 1:1 for ZCL so he has 160k from that and 160k from btc

Holy fuck I've been telling you faggots this for at least 4 months. Those who heard and had at least a bit of common sense saw the writing on the wall and sold, they cashed out or invested in alts.
What you need to do is stop every BTC/BCH shilling attempt. BTC was compromised almost from the begining.
Everything forked out of BTC is compromised

You fags can't really let a bunch of latecomers with less than 100 BTCs keep cucking you. Everyone with decent stacks sold quietly in december. The other ate their own HODL shill and got fucked.

Bitcoin is a currency that is an objective representation of work accomplished. It is the greatest thing created in my lifetime. If the you or the imbeciles that ran mt. Gox are incapable of understanding the value of this please keep selling I will take the cheap btc off your hands any time

kinda but now we know there's 165k btc that could be dumped at any time which means we might not see the price go up if they keep dumping as soon as the market looks bullish

Second this. These faggots don't yet know how revolutionary and secure Lightning Network is.

You know how sometimes you go to the store and buy cereal?
Well you know how the cereal is normally like 3 dollars
yeah me too
sometimes though, it's 1.50, and I'm like wow, what a great price, and I buy two

>Will the whole market crash for a while?
yes
>will it recover?
Always does

"As much as $400 million in cryptocurrencies was sold" So people made money..

This is the thinking we have to combat and is fucking the whole space. Listen, Blockchain and Cryptocurrency are the greatest thing created in your lifetime. You just think its Bitcoin because of the cultural elements they've attached to you.

You know what was also one of the greatest things created in my lifetime? The Atari. Guess what, I don't use an Atari anymore. I have nice desktop computer and a PS4. Stop getting attached to a piece of technology. We have to move on.

Not even any need to debate this because all the blockchains will have it so its irrelevant to mention it in a conversation about Bitcoin.

> Uh oh, the pajeet shill cavalry arrived.
> Every BTc shill post should be accompanied by the shill's public address
Keep wasting your time trying to convince a bunch of neets and soyboys while we gear a campaing to fuck that scam coin over on mass media. This is the last straw.

fuck off gay boy

Don't you guys get it? This Idiot might keep dumping his bags at low price but it's artificial. The market as a whole has bullish sentiment and things will go up eventually. As long as his bags lasts it's just a firesale.

Aboslutely killer argument, I just copypasted it into bitmex and BTC shoot up to 20K again

What the fuck are you talking about, what bullish sentiment. BTC has never left the downward channel you insuferable fucks. BTFO

i hope it gets sold all at once

The market wants to be bullish, but BTC is dragging us all down and stifling it as long as we let it be important like this. If we have a persistent bear market its really going to fuck up the progress we've been making.

r/buttcoiner FUD

ITS ALREADY HAPPENED
it went from 20k to like 6-8k

he isnt going to destroy the rest of his wealth when he can just as easily pump the rest of his crypto holdings into INSANE PROFITS

r/buttcoin are pathetic retards

>insufferable
KEK
might as well paint a target on yourself saying "I am a faggot from reddit"

Well if we don't change our behavior and start selling BTC ourselves that would probably be a doomsday event for all of Crypto right now. Would take at least a couple years to recover.

He literally stated "I plan to consult with the court and determine further sale of BTC and BCC". He's selling.

And of course he would because there's still a mountain of claims against him he'll have to pay for.

thats what i want

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.

You wish you could dismiss me that easy but no, I don't even have an account there. Sorry if my vocabulary is bigger than yours, this is not my first language.

I just love triggering you fags, I also love to see which team of pajeets gets called each time core start to panic. is good intel for my side business.

*why would they continue to sell if it causes the value to plummet.

They would literally shooting their own foot, better to not sell and just wait for a higher price again.

Institutional money coming in. Crypto funds and normie-friendly exchanges popping up. Crypto in general getting more and more accepted left and right. And now everyone knows that this retard is selling his bags cheap, and that there is a finite amount of cheap crypto before it runs out, might take half a year but it will run out.

He sold most of his bitcoin at 10-6k. He's just dumping. If he was smart he'd sell 50 BTC a day or do it through brokers

if they market sold all BTC right now we'd go to 5k and bounce up, guaranteed. The damage is blown out of proportion, and that's even assuming the rest is sold.

Someone should set up an ico acept bitcoin and burn them...

That way we ditch it for a new coin, we value ourselves and have no whales...

Because they don't give a fuck about price, they are a gov entity following court orders to reimburse money to the GOXeds. Hows that hard to understand?

How can you fit so many memes in a single paragraph? You are so wrong on all levels that is like you just woke from a coma of six months and you are literally copy pasting the shill scripts from 2017. Fucking kek.

But they owe credits fuck tones. Wasting a billion could mean jail time for someone.

Stay poor nocoiner.
Hope you buy the coming dip, because this shit is NOT going to zero.

When you're a big player in a market, you have a tradeoff between market impact (e.g. how much your sale moves the price down) and your certainty of the price (e.g. how certain you are of the price you'll get). The longer you take to sell your bitcoin, the less sure mtGox is about the price. But the less they will move the price down.

Selling off their holdings over 3 or so months seems like the sensible thing to do, since you can be fairly certain you can get some value out of an essentially useless asset.

This, they're only selling the court ordered amount. Stop fudding you stupid faggots

and giving us a sale in the process

Not sure why this is turning into a "nocoiner" thing. I'm not at all suggesting to sell Bitcoin for fiat. That's stupid. I'm saying sell Bitcoin for Eth, Monero, or whatever alts you want. Just be in ANYTHING other than Bitcoin or its forks.

...

This makes sense no sense.

Of all the crypto use cases BTC is the only overwhelmingly successful one so far. A secure electronic store of value with no middleman. Smart contracts and all these other alts have no real value yet. BTC will continue to grow and be king for a long time.

You are concerned because this one entity has .7 percent of the supply of BTC. This is a lot yet ANY OTHER ALTCOIN has individuals holding much larger percent chunks. Any crypto has whales who own enough to drop the price to shit. BTC is at less risk of this than most other coins in reality.

The thing is if people value the coin enough they will buy the dip and restore the price after a brief recession. Plus the court will take another 4-6 years before it rules on what to do with the rest of those coins; just like it took them that long to decide to liquidate these coins and pay off the creditors.

linkies got the quints

Yeah. I've been thinking for months that BTC pairing should be stopped across exchanges and replaced with ETH. Now would be a good time for this. I hear there's still 125k btc left to dump.

Newfag here, dont undertand how they can go bankrupt when they have billions of dollar in coin, and not give any of it back to its owner. Literally selling it and pocketing the money?

y’all realise that when the gox creditors get their trash fiat payouts, they will probably want to buy BTC with it?

I hope someone kills this kike.

>owners plural

They're going to pay the gox creditors? Based on wht BTC is worth now or back then when it was a quarter

Need rundown.

No, this argument of yours makes no sense. All cryptos are stores of value with no middleman and if you want talk about security than there's ones more secure than BTC. I'd 100% argue Monero and ETH are more secure than BTC is today.

We're not scared we're sick of bitcoin's shit. It's slow and expensive and the scalablility FUCKING SUCKS and there's a massive doomsday wallet just sitting there in some old chinks cupboard.
RIP you old bitch time for new blood

This. I'm not worried about the death of crypto. I'm worried about BTC has become the WORST thing for the cryptocurrency market. Its just an enormous liability at this point. We need to sell it off and move on.

This. Gas the Satoshis, flippening now.

OP tried to hit quints on purpose, something smells fishy here. Non-the less I get a massive erection when I read FUD.

Do you guys remember Muhammad on Veeky Forums in 2016?

We need to stop holding on to this dinosaur coin. BTC is not suited for the real world, its transaction fees are stupidly slow and costly. Get out now and never buy back in unless you're a cocaine addled day trader.

In the meantime, start flipping into practical shit. Shit that people will actually use and have real world value. Monero will continue to grow due to its popularity for private transfers. Ethereum is catching government attention. The only plans governments have for Bitcoin are for regulation and taxation, because it's fucking useless.

It's time to flip and let go. Bitcoin's job is done and we have to adapt before it brings us with it.

What's fucking scary is that these people will continue to FUD even after Bitcoin reaches 200k 500k 1 million + Not saying it's going to hit those prices but speaking from a normal 3rd person perspective those buttcoin people are so fucking weird.

>They still have 165 million Bitcoin

> It's slow and expensive and the scalability FUCKING SUCKS and there's a massive doomsday wallet just sitting there in some old chinks cupboard

pretty much this. maybe add the fact that the development community is steered by money agenda's and the technology is not their top priority.

WHY IS BTC STILL RELEVANT

Yea that will happen eventually, but the main issue it's not going to happen anytime soon. You'd be fucking crazy to think so at this point in time is what people are getting the vibe from.

And it's like clockwork that EVERY.SINGLE.TIME there are posts like this in Veeky Forums it's a contrarian market indicator that good things always come out of articulate FUD posts in Veeky Forums.

The scariest posts in Veeky Forums are not articulate but those posts that go

>Hey guys bitcoin is going to dump.

Why would they liquidate all at once at crash the price? That's not in their best interest unless the also have a short open.

thank god i only hold eth and link kys corecucks your days are numbered HAHAHAHAHAHAHA

bitcoin isn't even a third of the way mined, and plenty of other reasons are to blame for this perfect dip to scoop
you should honestly kys
this is the worst FUD I've ever seen

So what you're really telling me is, now is a GREAT TIME TO BUY! Right? Just want to be sure here.

This, it's not even such a big deal. Miners mine 54000 Bitcoin every month and they are selling a lot of it.

Ethereum literally undid a transaction because the DAO fucked up a smart contract. Try doing that with bitcoin.

Almost 17,000,000 out of 21,000,000 have already been mined.

checked. also, everyone with an iq above room temperature ditched bitcoin a while ago. fucking sick of these core cucks and all the fork faggots dragging crypto down with their retardation.

Let's all mine and buy UBIQ.

so what you're saying is we're in for 6 months of no retardly huge dumps

Let’s say bitcoin and all its clones were ditched, which would be the best currency to move to, to use as a currency/store of value.

Ripple and stellar are out because they’re centralised bullshit, monero has its place, as do the smart contract platforms... so which coin best takes bitcoins place? Litecoin? NEM?

ETH

Is that you loch ness monster?

Like I said ETH will have its place as will many smart contract platforms and privacy coins... but I don’t think it’s the best of the top 20, let alone all coins, as a currency

>UBIQ
shhhh Im still accumulating

>They still have 165 million Bitcoin, BCH, and all the other Bitcoin forks to sell and they plan to continue selling.
False. First of all, they have 166k bitcoin, not 165 million. Second, they don't plan to sell it. They said they will only sell it if they need more money to compensate Mt. Gox users for their losses.

Kek fiat

It'll be the best of the top 20 for at least two years after it overtakes BTC

Already corrected this back at the beginning of this thread. Was a misstype.

I mean you can go read the dude's words himself. He literally stated he's continuing to sell. No need for speculation.

So, there is people on this board willing to pay 9-10k btc knowing that some guy with tons of btc was and will sell for 6k or less? Really makes you think.

I personally think Monero or some privacy token is the most logical as currency. Privacy should be a fundamental charecter to even be a currency in the first place.

I say ETH because we're already using it as such in the markets. If not Eth or Monero/Privacy then I dunno. Nano I guess? There's plenty of currency coins out there to pick from. Though I don't see why there's any reason to separate currency from smart contracts like you are.

yea but the logo has fucking ugly ass colors that gives the vibe of a 90s grease Mexican in the back of my head, and fluffy pony being a retard.

It needs to be delisted from all exchanges but this is probably not going to happen until remained 165k buttcoin get dumped in the market. If 35k bitcoin crashed market 4 times in a month, 165k would crash more than 20 times but buttcoiners are too stupid to realize that and exchanges make tons of money from buttcoin transactions. I guess we will have to wait 2-3 years more to see this shit will become a matter of past.

Yeah I feel ya. There's other privacy tokens out there I guess.

So we are just supposed to take their word they won't sell more for any other reason

>Maligning what is easily the best logo in crypto

Mtgox trust has been selling since 20k
They are done selling, that's why the news came out today instead of when they started doing it, although anyone with half a brain knew what was happening then anyway
DO NOT FALL FOR FUD

It's basically anything exchanges decide to pair all other alts to. That's BTC, ETH, LTC. Just unpair everything from BTC and let ETH be the new King.