[2014-12-31] CryptoArticles - Winklevoss Bitcoin Trust Files to Sell 1 Million..

CoinMode

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Quote from: bitbouillion on January 03, 2015, 10:47:49 PM

Quote from: Brad Pitt on January 02, 2015, 02:54:57 PM

When I saw the title of the thread I was expecting it to be Winklevoss Bitcoin Trust Files to Sell 1 Million Bitcoins and was wondering why they would be selling now due to their current low price and lofty future expectations of the value. Glad to see this isn't the case.

Winklevos don't sell Bitcoins, they sell shares of a fund. The coins (private keys) remain in a vault.

Depending on the market and the performance of the ETF, the Winklevii are obligated to buy and sell bitcoins. If the ETF goes up in value by some amount, then they will have to buy more bitcoins. Not sure how the selling works, though.

bitbouillion

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Quote from: Brad Pitt on January 02, 2015, 02:54:57 PM

When I saw the title of the thread I was expecting it to be Winklevoss Bitcoin Trust Files to Sell 1 Million Bitcoins and was wondering why they would be selling now due to their current low price and lofty future expectations of the value. Glad to see this isn't the case.

Winklevos don't sell Bitcoins, they sell shares of a fund. The coins (private keys) remain in a vault.

LOBSTER

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Quote from: ClutchThese on January 03, 2015, 03:16:09 PM

Quote from: Brad Pitt on January 02, 2015, 02:54:57 PM

When I saw the title of the thread I was expecting it to be Winklevoss Bitcoin Trust Files to Sell 1 Million Bitcoins and was wondering why they would be selling now due to their current low price and lofty future expectations of the value. Glad to see this isn't the case.

That's exactly what i was thinking when i read it. Especially given today's price, I was a little worried.

That would be 0.3 Billion Dollars - in that case the market would collapse finally.

ClutchThese

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Quote from: Brad Pitt on January 02, 2015, 02:54:57 PM

When I saw the title of the thread I was expecting it to be Winklevoss Bitcoin Trust Files to Sell 1 Million Bitcoins and was wondering why they would be selling now due to their current low price and lofty future expectations of the value. Glad to see this isn't the case.

That's exactly what i was thinking when i read it. Especially given today's price, I was a little worried.

jdebunt

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Quote from: Brad Pitt on January 02, 2015, 02:54:57 PM

When I saw the title of the thread I was expecting it to be Winklevoss Bitcoin Trust Files to Sell 1 Million Bitcoins and was wondering why they would be selling now due to their current low price and lofty future expectations of the value. Glad to see this isn't the case.

Haha sorry about that

Brad Pitt

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When I saw the title of the thread I was expecting it to be Winklevoss Bitcoin Trust Files to Sell 1 Million Bitcoins and was wondering why they would be selling now due to their current low price and lofty future expectations of the value. Glad to see this isn't the case.

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: Chef Ramsay on January 01, 2015, 02:10:10 PM

In terms of the next rally, I wonder if this would still qualify as part of the smart money phase or the start of the institutional investor phase..?

Agreed. Most developers still don't understand Bitcoin. This has investors terribly confused. They are still concocting schemes of a better mousetrap.

lyth0s

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World Class Cryptonaire

Quote from: Bit_Happy on January 01, 2015, 05:49:28 PM

Quote from: Chef Ramsay on January 01, 2015, 02:10:10 PM

In terms of the next rally, I wonder if this would still qualify as part of the smart money phase or the start of the institutional investor phase..?

This is Huge news, and it seems like we will see "both phases" in 2015.

I think right now we are nearing an end to the blow off phase and may re-enter the smart money phase again in the next 6 months (my speculation). But only time will tell.

https://people.hofstra.edu/geotrans/eng/ch7en/conc7en/stages_in_a_bubble.html

CoinMode

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Quote from: LOBSTER on January 01, 2015, 03:07:59 PM

Quote from: CoinMode on January 01, 2015, 02:51:31 PM

Quote from: voephilis on January 01, 2015, 05:54:11 AM

the twins always do things that get golden !

Yeah, like how they started facebook. No, I'm not being sarcastic. Exact same idea as Zuckerberg, at the exact same time, and even hired Zuck to help them build it. Then it was stolen and the theft was later repaid to the tune of a $50million lawsuit.

50$ Million...ridiculous that Zuckerberg won!

Nobody won the lawsuit. It ended in a settlement.

Bit_Happy

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A Great Time to Start Something!

Quote from: Chef Ramsay on January 01, 2015, 02:10:10 PM

In terms of the next rally, I wonder if this would still qualify as part of the smart money phase or the start of the institutional investor phase..?

This is Huge news, and it seems like we will see "both phases" in 2015.

LOBSTER

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Quote from: CoinMode on January 01, 2015, 02:51:31 PM

Quote from: voephilis on January 01, 2015, 05:54:11 AM

the twins always do things that get golden !

Yeah, like how they started facebook. No, I'm not being sarcastic. Exact same idea as Zuckerberg, at the exact same time, and even hired Zuck to help them build it. Then it was stolen and the theft was later repaid to the tune of a $50million lawsuit.

50$ Million...ridiculous that Zuckerberg won!

CoinMode

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Quote from: voephilis on January 01, 2015, 05:54:11 AM

the twins always do things that get golden !

Yeah, like how they started facebook. No, I'm not being sarcastic. Exact same idea as Zuckerberg, at the exact same time, and even hired Zuck to help them build it. Then it was stolen and the theft was later repaid to the tune of a $50million lawsuit.

Chef Ramsay

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In terms of the next rally, I wonder if this would still qualify as part of the smart money phase or the start of the institutional investor phase..?

voephilis

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the twins always do things that get golden !

indiemax

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Quote from: CoinMode on December 31, 2014, 02:07:37 PM

I'll remember the day it goes up on the exchange and I can see the ticker (COIN) fly across the screen.

exactly

CoinMode

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I'll remember the day it goes up on the exchange and I can see the ticker (COIN) fly across the screen.

jdebunt

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http://www.cryptoarticles.com/crypto-news/winklevoss-bitcoin-trust-files-to-sell-1-million-shares-on-nasdaq

Many Bitcoin enthusiasts will remember where they were and what they were doing when the Winklevoss twins announced their interest in Bitcoin. Things got even better when Tyler and Cameron Winklevoss launched Winkdex, a bitcoin price index, in February of 2014. But what were you doing on this New Year’s Eve day when you found out the Winklevoss twins filed a request to sell 1 million shares on Nasdaq?

Topic: [2014-12-31] CryptoArticles - Winklevoss Bitcoin Trust Files to Sell 1 Million.. (Read 1969 times)