Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21253659 times)
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Dragonkiller
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February 26, 2014, 01:07:42 AM

So lets assume Gox is insolvent to some degree and eventually pays out cents on the dollar to everyone.
It is believed they have lots of fiat in their accounts.
I also assume that if they have a limited number of BTC, people holding BTC in their account will probably be paid mostly in dollars for those BTC    (What rate will they use, the closing $175... or the average of all exchanges)
A lot of this fiat will then be transferred to other exchanges and used to buy coins.
This is going to be the mother of all rallys, as 10's or 100's of millions of dollars moves to the other exchanges looking for coins.



i seriously doubt anyone will get any money or coin out of gox for a very very long time (if ever)