Topic: Bitcoin Investment Trust Launched by Major Crowdfunding Company Secondmarket!! (Read 5062 times)

I haven't seen this claim posted here yet.

learn to read...

second market DO NOT OWN BIT they only sponsor it.

so doing a who-is on secondmarket is futile as they are not the legal owners of your money you invest..

you are meant to look for who the OWNERS of BIT are. the legally identifable owners, so that when the crap hits the fan you know who to sue.

you cannot sue second market, as they have clearly said they are only sponsors.. not owners..

so before you invest.. find out who is the owner...

http://who.is/whois/http://www.bitcointrust.co

the domain is registered through go-daddy and the IP address of the server is going through a linode VPS.

for a legitimate OWNER asking for high value customers, hiding away their identity is fishy..

Good for you.  One of the great advantages of bitcoin is that with reasonably accessible security, you can manage your own wealth.  Just make sure you distribute your backups so they're not all in one place

I looked into Second Market and decided not to go with them because their fees are too high. They charge 1.5% to liquidate and additionally charge 2% per annum. For me it was much easier to use Bitstamp and then use an Armory offline wallet with paper backups. 

Oh, look, you do know how to do a whois search after all.  How enlightening.


And what is this?  You've had this skill for a long time.  Interesting.

Funny how this ability seems to come and go for you, depending on which thread you are trolling at the moment.

Anybody think that this recent spike in bitcoin could be this new trust buying it up... along with other things of course.

And the sophisticated investor net worth calculation excludes primary residence.  On the theory that where you live is consumption, not investment.


Some hedge fund money managers and fund runners can enjoy this too, just not to the degree of an on exchange ETF, but this does give them more legal cover (and a deeper pocket they can sue) if there is something fishy.

It adds confidence.  It brings in new buyers, it creates some increased awareness, and someone else's lawyers can fight some of the battles that may arise.  Lots of good things here, just like most of what the Winklevoss team is doing is good for Bitcoin generally.

What it doesn't do is the grass-roots work of developing the Bitcoin economy, and it doesn't do much for most of us.  I have some fair bit or retirement money that I would like to have in bitcoin but IRAs and 401Ks have limits on how you can invest them.

When bitcoins will be represented in investment trusts and funds that these sorts of accounts can hold, it will be a win.  This brings that a step closer.  Bigger news would be a major online retailer having an option to buy using bitcoin thus taking advantage of the lower transaction costs.  Usage stimulates the Bitcoin economy more than trading.  Trading relies on usage for supporting the valuations.

In one of the interviews (maybe this CNBC one, I didn't go back to listen to it again to verify) Silbert refers to BIT being open only to "sophisticated investors".    I wasn't familiar with that term.  Here it is:

- http://www.investopedia.com/terms/s/sophisticatedinvestor.asp

$200k would be yearly income required to be considered an accredited investor (or net worth over $1mil)

It's still great news.  These are the people with $$$$$$.  Not $.

looks like i am out of date already.

it's minimum $25K.

LOL

"It's not perfect, so it's basically bad news.  Sell your bitcoins while you can!"  

good and very helpful thanks for this

im not even sure why im replying to a guy with under 100 activity and 3 months membership, but here is it as simple as possible:

READ THEIR WEBSITE - http://www.bitcointrust.co/

ACAM are not working as OWNERS of BIT, but as management consultants that have sponsored some guy to handle the private keys.

put it into real world terms. if you OWN a surfboard shop and a well known brandname SPONSORS you, and provides advertising and management consultants to help boost sales. when the surf shop goes into debt.. do the debt collectors chase the well known brand.. no

in actual fact the sponsors can tell the courts they too invested millions into the surf shop and lots of labour time too, and they want to make a claim for losses against the surfshop..

now who actually owns the surfshop... well the investors that have shares in the surfshop ofcourse...

my point being if you want to throw $100k at bitcoin, BUY BITCOINS. not these shares.

Thanks!  Good video too.

Yeah, just that it won't be accessible to low income investors.

http://video.cnbc.com/gallery/?video=3000201609&startTime=0&endTime=404

So, if I understand this correctly, this is about the same thing as what the Winklevoss brothers were trying to do?

Ahh, the ignorance of youth. We think we know everything, yet we know nothing. We think that because something is new to us, it is new to everyone. Let me FTFY

yes. 

also alot of these older wealthy will actually listen and take the advice of the younger wealthy generation, even if they don't understand Bitcoin, as they realize the world is changing.

Soros can't probably get his head around Facebook, yet he invested in it and this is a guy who was a boy during WW2.

Wealthy people invest in paradigm shifts and Bitcoin is a paradigm shift in the financial world. Bill Gates called Bitcoin "A technological tour de force". Old investors are paying attention and will invest in the next thing because that's where the growth and money is.

However, there are plenty of younger billionaire hedge fund investors out there. Old guys like Buffett, Icahn, Soros are just part of the pack.