I am curious, how long will it be before all bitcoins in their ETF are stolen?
EXACTLY!
Topic: [2014-05-09] Winklevoss Twins Plan NASDAQ Listing for Bitcoin (Read 891 times)
EXACTLY!
I hate to be stereotyping, but to me, Winklevosses look stupid.
I am not the kind of person to judge people by looks, but I am wondering if their intelligence has somehow been ascertained.
I am not the kind of person to judge people by looks, but I am wondering if their intelligence has somehow been ascertained.
Is there any reason for this? You just assumed that they will be idiots, just because they are not good looking. I have to say that looks have got nothing to do with intelligence.
I hate to be stereotyping, but to me, Winklevosses look stupid.
I am not the kind of person to judge people by looks, but I am wondering if their intelligence has somehow been ascertained.
I am not the kind of person to judge people by looks, but I am wondering if their intelligence has somehow been ascertained.
I am curious, how long will it be before all bitcoins in their ETF are stolen?
EXACTLY!
"If you don't hold it, you don't own it" as the old saying goes. Holding BTC for an ETF is the complete antithesis of what BTC stands for, but they will
still make a bundle out of the fools who don't understand that.
It will only be a short hop from listing to naked shorting and the same situation we have with precious metals today, where most people who think they own gold/silver in futures contracts would never be able to get it delivered.
I am curious, how long will it be before all bitcoins in their ETF are stolen?
EXACTLY!
I am curious, how long will it be before all bitcoins in their ETF are stolen?
There's also an article about this on The Register: http://www.theregister.co.uk/2014/05/09/winklevoss_twins_sec_filing_bitcoin_trust/
so funny they call the winkle twins "monozygotes"
so funny they call the winkle twins "monozygotes"
Wonder how they arrived at the decision for the amount of five shares for a whole bitcoin. Is it just because they wanted to be able to offer a million shares on the bitcoins they control? Or would there be some other reasoning behind it?
//EDIT: Also, having tried to digest some of the vast amounts of information in the S-1 filing, it seems brokers can only buy shares in blocks of 50,000, which would be 10000 bitcoins, so investors wouldn't be buying directly from the trust:
New York Times have got an article here too, but I'd say the CoinDesk one is actually more informative.
//EDIT: Also, having tried to digest some of the vast amounts of information in the S-1 filing, it seems brokers can only buy shares in blocks of 50,000, which would be 10000 bitcoins, so investors wouldn't be buying directly from the trust:
Quote
The Shares may be purchased from the Trust only in one or more blocks of [50,000] Shares (a block of [50,000] Shares is called a Basket). The Trust will issue Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis as described in “Plan of Distribution.” Baskets will be offered continuously at the net asset value (NAV) for [50,000] Shares on the day that an order to create a Basket is accepted by the Trustee. The Trust will not issue fractions of a Basket.
Quote
“Authorized Participant”—A person who (1) is a registered broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) is a direct participant in DTC, (3) has entered into an Authorized Participant Agreement with the Trustee and the Sponsor and (4) has established an Authorized Participant Custody Account. Only Authorized Participants may place orders to create or redeem one or more Baskets.
New York Times have got an article here too, but I'd say the CoinDesk one is actually more informative.
I guarantee you FinCEN and other financial regulatory organisations in America owned by the rich club will do everything they can to block it, which is kind of ironic considering the Winklevoss are pretty much part of the upper class in America from what I know, they must be seen as the rebellious school children.
FinCEN won't be able to do anything. The Winkelwii have good connections, which they will make use of. If the regulatory body throws in any challenge, then they will go to the courts. FinCEN guys can go to hell.
I guarantee you FinCEN and other financial regulatory organisations in America owned by the rich club will do everything they can to block it, which is kind of ironic considering the Winklevoss are pretty much part of the upper class in America from what I know, they must be seen as the rebellious school children.
That said, while I think it's great we have some Bitcoin supporters stirring things up, I wouldn't ever take part in a Bitcoin ETF, too much chance for manipulation and insider trading.
That said, while I think it's great we have some Bitcoin supporters stirring things up, I wouldn't ever take part in a Bitcoin ETF, too much chance for manipulation and insider trading.
be patient bryant.coleman, 
it takes alot of time to do something like this. they are the "frontrunners". if their ETF launches somewhere in 2015 i guess, more will follow (in shorter time)
it takes alot of time to do something like this. they are the "frontrunners". if their ETF launches somewhere in 2015 i guess, more will follow (in shorter time)
I heard about their plans in the end of 2013. Back then also they were saying that they will list it on the NASDAQ. But there have been no progress. They made huge profits out of their investment. What is holding them back?
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