Mt. Gox To Begin Bitcoin Repayments Starting in July

[Faisal2202]

I only can mention phrase "Better late than never". After all, it's been more than 10 years since the hacked happened. Your opinion is greatly appreciated.

A decade is not a small time, I was sharing this story with my cousin and he asked who would have been waiting till now for his/her funds, I said I have seen numerous people on Reddit and on the internet who they are excited to get their funds back after waiting a decade. Plus they are not going to receive the same amount in fiat they lost that day, they are going to receive multiple of it.

Well I was not one of these victims as I stepped into crypto world in 2018 first but at that time no knowledge then left and then again stepped into crypto world in 2021. I am grateful that I did stepped. I hope these dudes will receive there full payments after all these years. Although this distribution has led the market to go down so I also hope people who waited this long might not want to sell there funds. But I can see market is firmly holding the price tag of $60k which is a good thing.

[God Of Thunder]

I'm sure. I did quick google search and found some old news which state amount of hacked Bitcoin.

This is huge! I mean HUGE!
I don't even know if they have that much money to pay these days. It's only possible if they haven't sold those Bitcoins. Otherwise, it will be too expensive to pay those Bitcoins to the MT gox users. Surely I haven't read those big big articles because the news reporters always write huge bullshit to make it a long read news. I always love to read the important parts and I mostly learned about this hack from the forum members.

[Jating]

I'm sure. I did quick google search and found some old news which state amount of hacked Bitcoin.

This is huge! I mean HUGE!
I don't even know if they have that much money to pay these days. It's only possible if they haven't sold those Bitcoins. Otherwise, it will be too expensive to pay those Bitcoins to the MT gox users. Surely I haven't read those big big articles because the news reporters always write huge bullshit to make it a long read news. I always love to read the important parts and I mostly learned about this hack from the forum members.

It's not only Bitcoin that is going to be sold by Bitcoin cash as well, and maybe this is the reason why the price is declining. Nevertheless, we should be happy that this is finally going to be settled after a decade or so, so that we can finally closes the book about the Mt. Gox hacked and everyone could moved on. So let's see how it will affect the market, others say that it won't put a dent and we might not go down to < $60k. Others, for reasons known only to them tries to create FUD, Collapsed bitcoin exchange Mt. Gox is about to unload $9 billion of coins onto the market. Here’s what it means.

[TokenTactician24]

While it's good that Mt. Gox is starting Bitcoin repayments in July, it's hard not to be skeptical . It's been over 10 years since the hack, and many deadlines have been missed. Will they really deliver this time? Plus, how will this influx of Bitcoin affect the market? It could create significant volatility.

Does anyone else think this could be more trouble than it's worth, or am I just being overly pessimistic?

Cheers,

[Z-tight]

Will they really deliver this time? Plus, how will this influx of Bitcoin affect the market? It could create significant volatility.

Does anyone else think this could be more trouble than it's worth, or am I just being overly pessimistic?

If they'll deliver? We would wait and see, though i have a feeling that they will this time.

It will affect the price of BTC, but it won't be more trouble than a price drop, of which the price will rise back up again when the whole 'drama' is over. Don't sell your BTC because of this, instead buy more if it drops.

[LogitechMouse]

I only can mention phrase "Better late than never". After all, it's been more than 10 years since the hacked happened. Your opinion is greatly appreciated.

It's been 10 years indeed. I didn't saw the incident, but I guess it really is heartbreaking for those who lost their money.

TBH, some of those investors who are affected by this incident might forgot this already especially if they invested small amount already. There might be some who are dead already unfortunately, and there might be some that will just simply ignore it because they don't care about it already especially if they invested only a small amount at that time it happened.

At the end of the day, I just hope that this will come to an end already and all of these investors will really get paid the amount of money that they should be paid.

[ABCbits]

While it's good that Mt. Gox is starting Bitcoin repayments in July, it's hard not to be skeptical . It's been over 10 years since the hack, and many deadlines have been missed. Will they really deliver this time? Plus, how will this influx of Bitcoin affect the market? It could create significant volatility.

As i said earlier, it wouldn't be surprising if they missed the deadline again. I wouldn't worry too much about it affecting Bitcoin price though, since it's like they send the compensation to all victim at same time and not all victim would sell their coin,

Does anyone else think this could be more trouble than it's worth, or am I just being overly pessimistic?

I guess it depends on each victim losses and potential repayments they could receive.

[Rruchi man]

I only can mention phrase "Better late than never". After all, it's been more than 10 years since the hacked happened. Your opinion is greatly appreciated.

This is an effort to try to end their story on a positive note, knowing that even if they come back and start operations, people will never trust them anymore. But seeing that the news about them on the Internet is almost all negative, this will at least clearly clear the conscience and give the owners peace of mind. If they can actually compensate everyone, then that would be very very good and may even positively affect the value of Bitcoin increasing the price from what it currently is.

[target]

Don't you think this attemp is like to lure the early adoptors of BTC who got thousands to of them since the beginning of BTC. Of course if the governmeng or Mt. Gox really are going to send their BTC, they are also required to submit KYC which those OGs might not be open to send.

10 years ago already, those users probably not hoping to get them back anymore. Theyve accepted the fate of those coins a long time ago. Aren't thr coins that US and government dumping recently from Mt. Gox?

[dkbit98]

According to new article and speculation from Jacob King there is a good chance that most of the Bitcoin from MtGox will be sold.
This is $8.2 billion worth Bitcoin and only 0.08% has currently been distributed, and it could be even worse for BCH!
Bitcoin price increased 8,500% during the past 10 years so you can't really blame anyone wanting to sell now.


https://cointelegraph.com/news/mt-gox-creditors-sell-8-2b-btc