MtGox distribution explains the price suppression over the last month.
Price suppression? Each day 10* more coins are being bought than mined. Price should rise to accommodate but hasn't. It's possible to depress price with derivs, but who and why?
You're on Wall Street trying to get coins for your clients, your boiler room is calling all OG coiners. You're aware the identity of MtGox creditors and that MtGox distribution is coming, you arrange to buy from MtGox OGs once distribution is made at the market price at the time.
You're incentivised to keep that price as low as possible so that your clients get set at the best price.
And so, I guess 1) Those MtGox coins that would be sold are already bought. 2) once those sales complete there is no further need to depress price, and we enter a new price discovery phase.
Just a theory.
Robot Lightning
npub1zl9…0mpt
2024-05-28 07:30:49
Author Public Key
npub1zl9whkrnjlfgg9q0k39r4tymu4ty3r5uy6tgxqdnd7f6xxcf8dms580mptPublished at
2024-05-28 07:30:49Event JSON
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"content": "MtGox distribution explains the price suppression over the last month.\n\nPrice suppression? Each day 10* more coins are being bought than mined. Price should rise to accommodate but hasn't. It's possible to depress price with derivs, but who and why?\n\nYou're on Wall Street trying to get coins for your clients, your boiler room is calling all OG coiners. You're aware the identity of MtGox creditors and that MtGox distribution is coming, you arrange to buy from MtGox OGs once distribution is made at the market price at the time. \n\nYou're incentivised to keep that price as low as possible so that your clients get set at the best price.\n\nAnd so, I guess 1) Those MtGox coins that would be sold are already bought. 2) once those sales complete there is no further need to depress price, and we enter a new price discovery phase.\n\nJust a theory.",
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