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Mt.Gox Hacked For $450 Million – Now Accepting Bitcoin?

1/7 Let us try to analyze the situation.

Mt.Gox was hacked in February 2014 for about 450 Million At that time, BTC cap was ~10 Billion as of February 1, 2014 the hack was ~4.5% of the market capitalization.

Material Scientist on Twitter

2/7 Volumes at the time were heavily manipulated by Chinese exchanges, but we extrapolate from the equation only btcchina, Coinbase and kraken plus another smaller group generated 885 Million in February 2014.

3/7 Therefore the hack/volume ratio was ~50%

Very heavy with only 4 years BTC.

The situation today you see, let's put a hypothetical 10 Billion hole

the BTC cap as of November 1 was 393 Billion bankruptcy of ~10 Billion creates a ratio of ~2.5% (similar to 2014)

4/7 Ordinary volumes and liquidity in comparison are enormous. The October volumes of Binance, Coinbase and Kraken are 449 Billion.

Therefore the bankruptcy/volume ratio is ~2.2% (compared to 50% in 2014)

5/7 Today BTC is accepted, adopted and is no longer seen as an anarchist game.

Also in 2014 BTC was ~-55% from its highs, now ~-73%

6/7 This landfill, according to me final, could be seen as the war in 2018 that triggered the November 2018 landfill, namely Craig Wright and the threat to sell 1 million BTC.

7/7 Data taken from:

Bitcoin, Ethereum, Dogecoin, Litecoin stats
This post is based on this twitter thread.


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