Mt. Gox Repayment Plan: Bitcoin Distribution and Potential Impact

Mount Gox begins $9 billion repayments plan, signaling potential resolution for affected users with 127,000 creditors owed over 154,000 Bitcoin.

### Mt. Gox Begins $9B Repayment Plan: A "Nothing Burger" for Bitcoin?
* 🗓 The rehabilitation trustee announced that **Bitcoin and Bitcoin Cash distributions will commence in July 2024**, signaling a **potential resolution for thousands of affected users**.
* 💸 Approximately **127,000 creditors** are owed over **9.4 billion dollars' worth of Bitcoin** following the Mt. Gox collapse in 2014.
* 📉 Despite the trustee's announcement, the repayment process could face further delays, with a history of postponements leading to **cautious optimism among affected users**.
* 🍔 "It's really kind of a **nothing burger**" as the amount of Bitcoin involved is **relatively small** compared to the total market.
* 💰 When the selling actually starts, if there is enough Bitcoin sold and the demand is not high enough, the Bitcoin price in fiat will **naturally decrease**.
* 📉 "You will be able to get **more Bitcoin for Less dollars**."
* 📈 However, since Bitcoin cannot be printed or created infinitely, the **supply will eventually run out**.
* 📈 "At that point, there will be **no more opportunities for cheaper Bitcoin**."

the mount gaau liquidations have begun or have [Music]. They welcome back everyone. Hope you guys had a great weekend, but I know if you actually paying attention to the noise, I don't see how you could have had a good weekend, right? It all started last week with this insane news about like $1.2 billion dollars worth of bitcoin that hit the market. Then all of a sudden, you know, the country of Germany sold a bunch of their Bitcoin, right? And now, now Monday morning, we wake up and boom, Mount goau is going to begin its $9 billion repayments plan. But I mean, are they really like, if you've been following our Channel, you know that I've done several clips about Mount gaau at this point and in every single one of the situations, it was funny. You had people, you had people that were touting like that's it, all of this bitcoin's coming out onto the market, all these guys have been waiting over a decade to sell, they're going to dump at

any blah blah blah and and in the end it was all giant nothing burkers. Richard Hart, right? Richard Hart, the uh, the founder of the hex shitcoin and the pulse chain shitcoin, and the guy who thinks of himself as just an absolute gift to humanity. Um, he, that's one of the things that he used to lure in a bunch of unsuspecting noobs to buy buy his dog. That is now like what, minus 98% or something like that anyway, against Bitcoin. Of course, against Bitcoin. Of course, if you uh, if you measure it in Fiat terms, you still think you're making money, but if you measured it against the Bitcoin, you would have had you realize that you are down bad. Not Richard though, he's not down bad because he got your Bitcoin. Um, but my my point is is that he used the mount goau fud to push people into his token. He used to specifically say, hey, there's no mount goau in HEX. That's right, there there's Mount Richard Hart. Anyways, this clip is not about

Richard Hart, let's dive into it. Here we go. The rehabilitation trustee announced that Bitcoin and Bitcoin Cash distributions will commence in July 2024, signaling a potential resolution for thousands of affected users. Approximately 127,000 creditors are owed over 9.4 billion dollars' worth of Bitcoin following the Mt. Gox collapse in 2014. For the, you know, we're going to do some quick math on this, right? It's like 154,000 Bitcoin at today's current valuation. So, if we just want to zoom, if we just want to zoom this out and look at it from a more realistic perspective, this is less Bitcoin than any of the ETFs, right? Well, I shouldn't say any, but it's less Bitcoin than BlackRock has. It's less Bitcoin than MicroStrategy has. In other words, it's really kind of a nothing burger. Anyways, in May 2024, Mt. Gox transferred 14,168 BTC worth 9.62 billion to a new wallet address. This move, the first on-chain activity from the exchange in over 5 years, was confirmed by

Rehabilitation trustee Nabaki Kabashi as part of the repayment preparation process. And guys, we reported on that. I have a whole playlist of Mount Gox clips that we've done, and I'm going to include it in the show notes in case you guys want to go back and take a look at that. Because obviously, at Pleb Underground, we've been talking about the giant nothing burger that is Mount Gox. And now, at this point, when you think of how many millions of Bitcoin are out in the market, look at that number, 141,000. Okay, so I said like 154 as of today's price when we recorded the show, but this was the actual number, right? 141k Bitcoin. It's really not that much. It doesn't take a long time for a market for this market to absorb that much Bitcoin. Despite the trustee's announcement, the repayment process could face further delays. That's right. They're only telling you this at the bottom of the article because they want you to sell your Bitcoin based.

on this news here right we the fud. The fud is up here but then the truth. The truth is down here that's right. The repayment process could face further delays no the current deadline was set in September 2023 which we reported on a month before Mount goau was initially scheduled to repay creditors by October 31st which they didn't. This history of postponements has led to cautious optimism among affected users and you know what um guys we actually at pleb underground we have a few Bitcoin friends that unfortunately are on that list of creditors okay. They're on that list of creditors which means they get access to the Mount gaw's uh information before we do right before the the right before the the mainstream or Independent Media gets access to that info. They're you know they're actually communicating with Mount gaau and um I have it on some pretty good authority that there was no email sent out today or yesterday or in the last few days uh about uh any kind of uh an actual process starting.

so is it a nothing Burger most likely um when they do start selling though right when people actually do start getting those redemptions um the only way that the way that I see it I shouldn't say the only way that I see it but I think to me it's probably the most objective way to see it if there is enough Bitcoin being sold and the demand at the moment is not high enough the price right the Bitcoin Fiat exchange will go down right you will be able to get more Bitcoin for Less dollars it's only it's only natural um but unlike everything else that can be printed into infinity and created ad nauseum as we all know Bitcoin cannot so what's going to happen is the spigot is going to run dry and at that point there will be no more opportunities for cheaper Bitcoin so you do the math anyways guys yeah I I just wanted to provide a different take on this because of course right it's it's always the fud the coiners they love the mount gaau fud

they're like, oh nice, nice. I can, I can somehow grift some unsuspecting person that holds Bitcoin and doesn't know why into buying my shitcoin instead, guys. This is a nothing Burger. You may get a temp, you know, we may get a temporary little dip. That's just a buying opportunity. Um, don't forget where we are. Zoom out. 141,000 Bitcoin is not what it was 10 years ago, okay? So the market can easily absorb that. That is the clip for today. This is what I wanted to talk about. I'm going to catch you tomorrow. [Music]

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Pleb UnderGround

Mount Gox Begins $9 Billion Repayment Plan

Mount Gox has started its massive $9 billion repayment plan after the news of selling billions of dollars worth of Bitcoin.

The founder of the hex and pulse chain cryptocurrencies, Richard Hart, used the Mount Gox situation to promote his own token, taking advantage of the fear, uncertainty, and doubt surrounding Mount Gox.

Despite the negative impact on Bitcoin, Hart's actions have allowed him to profit from the situation.

The rehabilitation trustee plans to distribute Bitcoin and Bitcoin Cash to over 127,000 creditors starting in July 2024, aiming to resolve the 9.

4 billion dollars' worth of Bitcoin owed since the 2014 Mt.

Gox transferred a significant amount of BTC to a new wallet after 5 years, has been confirmed as part of the repayment preparation process.

Despite the trustee's announcement, the repayment process may still encounter further delays, potentially impacting the market.

Mount Gaw's Repayment Process and Its Potential Impact on Bitcoin

Mount Gaw's repayment process faces further delays, leading to cautious optimism among affected users and potential creditors, including Bitcoin investors.

Despite communication with Mount Gaw, there is no indication of the process starting, potentially leading to a future impact on the Bitcoin Fiat exchange as the selling of Bitcoin could drive its price down due to limited supply.

The Stability of Bitcoin Market Amidst Fluctuations

Despite temporary dips, the Bitcoin market remains strong and capable of absorbing changes.

The current value of Bitcoin, 141,000, reflects its stability compared to a decade ago.

This stability offers buying opportunities for potential investors.