Pages:
Author

Topic: [2014-06-04] NASDAQ: Bitcoin ETF Inching Closer To Reality (Read 1291 times)

legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
I know a few people who bought Bitcoins at $1,100 per coin. Some of them offloaded their stash at $400 per coin. Some others are still holding.  Grin

They must be crying every day they check the price charts now. And it doesn't look like it's going to be slowing down.

Maybe they'll buy in at $1100 again?

Or maybe they'll wait until this bitcoin ETF gets listed on NASDAQ. By then it might be over $2000 Tongue

One certain cure for bad trading is to never close out a loss, but that isn't always realistic.
Absolutely NEVER reverse your position twice, at a loss both times.
^^^That way you avoid a repeated pattern of buying high and selling low.
sr. member
Activity: 406
Merit: 250
They must be crying every day they check the price charts now. And it doesn't look like it's going to be slowing down.
Maybe they'll buy in at $1100 again?

I am trying to convince them, but they are not listening to me. They are saying that the moment Bitcoin crosses $1,100, they will sell all their coins for fiat using any of the exchanges.  Grin

So another round of cheap bit coin? I like it.
legendary
Activity: 3766
Merit: 1217
They must be crying every day they check the price charts now. And it doesn't look like it's going to be slowing down.
Maybe they'll buy in at $1100 again?

I am trying to convince them, but they are not listening to me. They are saying that the moment Bitcoin crosses $1,100, they will sell all their coins for fiat using any of the exchanges.  Grin
hero member
Activity: 715
Merit: 500
and after the rally the price "crashes to 2143,- USD"  Wink

2143 USD will be the sale price!   Cheesy
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
and after the rally the price "crashes to 2143,- USD"  Wink
hero member
Activity: 715
Merit: 500
True. I would like to see this thing launch either right before the next big rally (which is unlikely) or right after the capitulation from that rally (likely). Just think if this thing launches right near the tail end of a mega rally pumping prices upwards of 10k only to crash shortly after. It could be catastrophic to a large number of people's finances and public perception of bitcoin, and I assume that the Winklevii and the SEC would take action to avoid such.

Unfortunately, not much can be done to prevent any such thing from occurring. Let's just hope that the correction will be a bit milder, and in the long term the investors will be in the green.  Grin

I'm certain the fund managers will understand the timing of this market and can make an effort to not launch when prices is doubling every 14 days or so. They should not launch in a place that allows investors to panic buy.

How would a large number of people's finances be affected if the price of a bitcoin goes up?  Correct me if I'm wrong, but all of the "crashes" have not been to below where the price was before the rally... 

To my knowledge, no one has sold any bitcoins for less than $50 for over a year now...

So, I wasn't very clear, but the point is to not launch while a mega- rally is peaking. That would mean all of these eager new investors buy in at the highest prices. And yes, if they continue to hold onto to their ETF, they will be fine. But it's bad publicity for an ETF to lose 50% or more of its value in the first months, regardless if it is likely to regain that value and then gain another 1000% in the coming year.
legendary
Activity: 980
Merit: 1000
CryptoTalk.Org - Get Paid for every Post!
There is no way Bitcoin can be stoped.
When I came across this I was sure of that Smiley
even if country's force the its local banks.
There will always be jurisdictions that will fill the gap.

Being a bank is owning A license!
Welcome in the offshore world with it's latest products.
By being a offshore bank good chance btc-e does it like this , you are simply  exempt of any AML , KYC and tax laws!
 
http://www.aspenassurance.com/offshore-banking-licenses
Our Private Banking License can be achieved in a Quality Caribbean Jurisdiction for as low as $325,000 USD or BITCOIN equivalent which provides all the advantages of Bank ownership  

http://www.offshoreinfo.com/offshore_banks_details.htm

 Some things you can do with your own offshore bank:

    Set up your own banking instruments (e.g. bonds, securities &c).
    These can be used in a variety of ways not to be covered in depth here due to space limitations. You may issue letters of credit for yourself, certificates of deposit, provided funds are indeed there (don't do it otherwise, as this would qualify for fraud in most jurisdictions!), letters of recommendation, etc.

    Boost your corporate image by retaining your very own bank.
    This can facilitate business no end: whether you are involved in import-export trade, in industrial manufacturing, in upmarket financial services, or simply want to impress your business associates and gain a cutting edge against your competitors – an offshore bank is probably the most powerful business tool money can buy.

    Grant yourself constructive credit ratings.
    Fed up with hopping around, currying favor with loan sharks and paying exorbitant sums to “credit repair” agencies that can't really do a thing for you anyway, except sing sweet, harmless odes to deaf ears? Why not do it the banks' way instead? With your own offshore bank, it's a totally new world to explore – grant yourself the credit rating you deserve and make good use of it in your other financial operations.

    Grant your own loans and mortgages.
    A nice way of legally funneling profits offshore and minimizing on taxes! Once you sign up, we will show you a unique insider strategy how to reduce your taxload and even say goodbye to taxes forever.

    Seize your own assets before your creditors do.
    Don't twiddle thumbs while the vultures are blithely hacking away at your life's work: with our insider strategy, you will be able to employ your bank to lay its hands (i.e. yours!) on your assets before anyone else does. Buy out your own debt for a song, stage your own “friendly self-takeover” and make exorbitant profits – absolutely legally, too, provided you know the proper way to do

So now you know once and for all that al theese AML and KYC laws are only for the little men.
and that this can and will never change unless we start using a decentralized system as Bitcoin.
legendary
Activity: 826
Merit: 1002
amarha
I know a few people who bought Bitcoins at $1,100 per coin. Some of them offloaded their stash at $400 per coin. Some others are still holding.  Grin

They must be crying every day they check the price charts now. And it doesn't look like it's going to be slowing down.

Maybe they'll buy in at $1100 again?

Or maybe they'll wait until this bitcoin ETF gets listed on NASDAQ. By then it might be over $2000 Tongue
legendary
Activity: 3766
Merit: 1217
How would a large number of people's finances be affected if the price of a bitcoin goes up?  Correct me if I'm wrong, but all of the "crashes" have not been to below where the price was before the rally... 

To my knowledge, no one has sold any bitcoins for less than $50 for over a year now...

There will always be losers and gainers for every market move. For my part, I know a few people who bought Bitcoins at $1,100 per coin. Some of them offloaded their stash at $400 per coin. Some others are still holding.  Grin
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
This ETF has been inching closer and closer every month for more than a year. I have a feeling that it'll take a few more years before it finally becomes a reality.

lol.. listing a new ETF in the NASDAQ is no small jobs. Tons of paperwork needs to be completed, and a lot of legal formalities are there. It sometimes take more than 12 months for a normal equity-based ETF to list itself in NASDAQ.  Grin

yep, in my view they are fast.

nice to see that news on nasdaq.com  Smiley
legendary
Activity: 826
Merit: 1002
amarha
True. I would like to see this thing launch either right before the next big rally (which is unlikely) or right after the capitulation from that rally (likely). Just think if this thing launches right near the tail end of a mega rally pumping prices upwards of 10k only to crash shortly after. It could be catastrophic to a large number of people's finances and public perception of bitcoin, and I assume that the Winklevii and the SEC would take action to avoid such.

Unfortunately, not much can be done to prevent any such thing from occurring. Let's just hope that the correction will be a bit milder, and in the long term the investors will be in the green.  Grin

How would a large number of people's finances be affected if the price of a bitcoin goes up?  Correct me if I'm wrong, but all of the "crashes" have not been to below where the price was before the rally... 

To my knowledge, no one has sold any bitcoins for less than $50 for over a year now...

The crashes seem to be more like corrections. On average bitcoin has definitely gained a lot. People just get carried away and buy at the same time and then freak out and sell most of what they bought off altogether at once.
legendary
Activity: 2114
Merit: 1031
True. I would like to see this thing launch either right before the next big rally (which is unlikely) or right after the capitulation from that rally (likely). Just think if this thing launches right near the tail end of a mega rally pumping prices upwards of 10k only to crash shortly after. It could be catastrophic to a large number of people's finances and public perception of bitcoin, and I assume that the Winklevii and the SEC would take action to avoid such.

Unfortunately, not much can be done to prevent any such thing from occurring. Let's just hope that the correction will be a bit milder, and in the long term the investors will be in the green.  Grin

How would a large number of people's finances be affected if the price of a bitcoin goes up?  Correct me if I'm wrong, but all of the "crashes" have not been to below where the price was before the rally... 

To my knowledge, no one has sold any bitcoins for less than $50 for over a year now...
legendary
Activity: 3766
Merit: 1217
True. I would like to see this thing launch either right before the next big rally (which is unlikely) or right after the capitulation from that rally (likely). Just think if this thing launches right near the tail end of a mega rally pumping prices upwards of 10k only to crash shortly after. It could be catastrophic to a large number of people's finances and public perception of bitcoin, and I assume that the Winklevii and the SEC would take action to avoid such.

Unfortunately, not much can be done to prevent any such thing from occurring. Let's just hope that the correction will be a bit milder, and in the long term the investors will be in the green.  Grin
sr. member
Activity: 406
Merit: 250
I am cautiously optimistic about this. It will add to the speculative nature of course but it could also get a lot of wealthy people to take a longer look at bit coin. Once they realize it protects them from inflationary fiat it is a no brainer to get involved.
hero member
Activity: 715
Merit: 500
"Winklevoss chief legal counsel Kathleen H. Moriarty told CoinDesk that the ETF should be approved by the end of the year."
http://www.coindesk.com/secondmarket-will-open-private-bitcoin-fund-investors/

It's been 11 months. If it "sometimes takes more than 12 months for a normal equity-based ETF to list itself in NASDAQ," than this shouldn't be too far off now should it?  Wink

Normally it takes anywhere from 6 to 18 months. So the Winkelwii Bitcoin ETF is definitely not far off. We should also take in to account the additonal complexities associated with dealing with the Bitcoins.

True. I would like to see this thing launch either right before the next big rally (which is unlikely) or right after the capitulation from that rally (likely). Just think if this thing launches right near the tail end of a mega rally pumping prices upwards of 10k only to crash shortly after. It could be catastrophic to a large number of people's finances and public perception of bitcoin, and I assume that the Winklevii and the SEC would take action to avoid such.
legendary
Activity: 826
Merit: 1002
amarha
...(For example) Did you see the Bitcoin logo on the front of USA Today ~ a month ago. It was the USA Today logo with a big Bitcoin inside. That is one example of "strong support" from elements of the establishment.
Almost a bit scary if you think about it...

I never saw that! It was in celebration of the FEC decision to allow campaign donations in BTC.



I saw it on a news rack and had to look twice, since it was so unexpected.
Seeing Bitcoin go mainstream is exciting; Having the elite media "promoting" Bitcoin feels odd, but why ask too many questions when the party is so much fun?  Cheesy

I never could have imagined years ago that we would be seeing the bitcoin logo on the front page of USA Today like that. It's amazing, really.
legendary
Activity: 3766
Merit: 1217
"Winklevoss chief legal counsel Kathleen H. Moriarty told CoinDesk that the ETF should be approved by the end of the year."
http://www.coindesk.com/secondmarket-will-open-private-bitcoin-fund-investors/

It's been 11 months. If it "sometimes takes more than 12 months for a normal equity-based ETF to list itself in NASDAQ," than this shouldn't be too far off now should it?  Wink

Normally it takes anywhere from 6 to 18 months. So the Winkelwii Bitcoin ETF is definitely not far off. We should also take in to account the additonal complexities associated with dealing with the Bitcoins.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
...(For example) Did you see the Bitcoin logo on the front of USA Today ~ a month ago. It was the USA Today logo with a big Bitcoin inside. That is one example of "strong support" from elements of the establishment.
Almost a bit scary if you think about it...

I never saw that! It was in celebration of the FEC decision to allow campaign donations in BTC.



I saw it on a news rack and had to look twice, since it was so unexpected.
Seeing Bitcoin go mainstream is exciting; Having the elite media "promoting" Bitcoin feels odd, but why ask too many questions when the party is so much fun?  Cheesy
hero member
Activity: 715
Merit: 500
This ETF has been inching closer and closer every month for more than a year. I have a feeling that it'll take a few more years before it finally becomes a reality.

lol.. listing a new ETF in the NASDAQ is no small jobs. Tons of paperwork needs to be completed, and a lot of legal formalities are there. It sometimes take more than 12 months for a normal equity-based ETF to list itself in NASDAQ.  Grin

"Winklevoss chief legal counsel Kathleen H. Moriarty told CoinDesk that the ETF should be approved by the end of the year."
http://www.coindesk.com/secondmarket-will-open-private-bitcoin-fund-investors/

It's been 11 months. If it "sometimes takes more than 12 months for a normal equity-based ETF to list itself in NASDAQ," than this shouldn't be too far off now should it?  Wink
hero member
Activity: 715
Merit: 500
...(For example) Did you see the Bitcoin logo on the front of USA Today ~ a month ago. It was the USA Today logo with a big Bitcoin inside. That is one example of "strong support" from elements of the establishment.
Almost a bit scary if you think about it...

I never saw that! It was in celebration of the FEC decision to allow campaign donations in BTC.

Pages:
Jump to: