The mtGox kraken distribution wallet just emptied. Maybe the 100000 creditors are finally getting their Bitcoin.
Could be some sell pressure for a bit.
Perhaps our last buying opportunity.
18vjnBHWAxU4CPGPqF7Gp9JyqdVBHDct9b
Discussion
How does the return of the coins work?
They go from the trustee? To an approved exchange? And then people have to sign up for the approved exchange to get their coins?
Can you help me understand a bit better?
Pretty much, yes.
From my understanding mtGox trustees are using up to 5 exchanges to distribute BTC to the creditors. A big chunk has gone to one exchange (kraken). That's the wallet I've been watching to see when distributions start.
Sounds ok to me, let the free market do it's thing.
Agreed. Bitcoin don't give a fuck.
Keep your eye open, might be a dip approaching to allow you to exchange some nasty fiat into robust BTC.
Looks like kraken moved 5000 Bitcoin to bitstamp and kept 37000 Bitcoin. I bet they are expecting huge volatility once they start distributing. And plan on buying and selling on the two exchanges (kraken and bitstamp) to arb the shit out of it.
Just my wild ass guess.