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Mt.Gox a name that will always be known in the crypto world. Depending on the person's reaction you will know how long she or he has been in the crypto world.
Affected are a few but the impact has been enormous since then on the whole industry...in my opinion in a positive way.
A little known fact mt.gox was previous to being a BTC exchange used as playing card trading platform form magic: the gathering online exchange. Yes, but hey it was 2011.
Fast forward 10 years and the drama seems to come to an end....for all with losses in BTC volume but in most cases still a profit in USD value. So even a scandalous bankruptcy, dubiously stolen/missing bitcoins, court dramas in several countries, mainly in Japan with one mayor bankruptcy handler named Kobayashi (the usual suspect), you still end up with more USD then if you would have left your money at a bank....banks are really not your friend....more on this in a later post.
So it seems that there will be a Christmas gift coming at the end of 2021 for Mt Gox sufferers.
The crypto community is keeping an eye out on that still unknown date in fear of massive sell offs and a price decline. Of course this could happen, this will be a temporary dip. And again not everyone receiving their due payout will cash out, why would they unless the money is needed which I would understand. Most, if not all are early crypto adaptors. The coins as far as I understand would be distributed gradually to prevent this feared scenario.
Also not all coins distributed will end up on exchanges and will change hands outside of exchanges thus not immediately affecting the market, as seen in the recent auction of seized bitcoins by the German police of North Rhine Westphalia.
So even though this might be the final chapter there will certainly be an epilogue following hopefully to wrap up everything. No sequel! No one needs a sequel on that, the original will do!
?? Keep on hodling!
