Post
Topic
Board Speculation
Re: Mt. Gox's final impact on BTC...
by
kooke
on 19/04/2014, 23:43:16 UTC
Based on the relatively small amount of money flowing through BTC and the space's paper thin infrastructure, you cannot tell me that $500 per coin is a price that reflects any possibility that idiot bankruptcy liquidators, coordinating between Tokyo and Texas, might auction off 200k plus coins for 20 cents on the dollar. While these Courts may take a long time to sort things out, they sell assets as fast as they can to as few people or entities as possible in order to preserve self-payment. Even at steeply discounted prices, we are talking about many many millions of dollars that no one in this community has or would be willing to part with for such a risky proposition. No one here can deny that, if 200k plus coins go on an auction block in Tokyo and or Dallas, prices will not plummet. I can only imagine that I'm going to get blasted for this post. Go ahead but when you blast away, tell me why I'm wrong about this! (I hope I am!) This is simply law and economics at work. Mt. Gox's last breath is going to bring BTC to its knees.           

Most people here will try to shoot an analysis like this down, but I think the gox proceedings will unfold in a manner quite like what you have described.