Topic: Bitcoin Investment Trust Launched by Major Crowdfunding Company Secondmarket!! - page 2. (Read 5073 times)

Be interesting to see if anybody invests. I'm not sure.

My take is that a lot of older generation's wealthy folk will shun Bitcoin from the go as they simply cannot get their head around the concept. Some of these guys spent so many years watching things come and go and beating the same old stick that it has become almost impossible to acclimatise their brain to new ideas and technology, especially in finance. The young & wealthy are more likely to be curious, investigate and invest themselves through more direct routes. Then again I'm sure SecondMarket had enough interest to put the plan through the motions so I'm skeptical of my own skepticism. Hopeful.

buy, buy, sell as fast as you can - what? rofl

his brain works backwards.

What? You must be confused. Someone buying huge amounts of bitcoins would drive the price UP. Do you think that someone selling a huge amount of bitcoins would cause a panic buy?

This is great news and brings bitcoin one step closer to the financial mainstream.

franky1 should stop posting out of shame for quite some time now. Can't believe people can be this ignorant.

The Bitcoin Investment Trust(BIT) is owned by a subsidiary of Secondmarket, Alternative Currency Asset Management. Same platform that allowed investors to purchase Twitter and Facebook pre-IPO, Groupon pre-IPO. It's widely recognized and respected platform with potential to easily triple or quadruple Bitcoin price.

http://finance.yahoo.com/blogs/daniel-gross/facebook-ipo-already-happened-several-months-ago-secondmarket-134457488.html

Bitcoin market is way too small($1.5bil) and way too illiquid for big players to afford the luxury of buying every now and then.

When this big money enters the market, price will explode. Those who want in at a good price will have to buy before other big boys do. They won't mind paying 200-300/coin now instead of paying 500-600 months later.

Big whales like this can buy huge amounts of bitcoins on exchanges and cause panic sells. So it would be best if they brought coins at low amounts over time.

Was this the "Big" announcement?

Serge.

secondmarket is CROWDFUNDING which means its an affiliate thing with many members across the world.

so who-ising second market does not tell you much about the 'one man band' guy that is the AFFILIATE of secondmarket, and the SPONSOR ofthe trust.

LEARN TO RESEARCH


you are half right.. but when playing with bitcoins is still an unregulated market.. there is no 'law' governing it.


totally agree. why own shares of a fake company that has a single guy hiding behind it with all the private keys.. anyone with any understanding of bitcoin would be stupid to invest in a share deal of such risk.

buy bitcoins direct.

You are misinterpreting this. The reason they limit it to "accredited" investors is because that is the law. The dirty little secret about the crowdfunding law is that it only benefits "accredited investors" (aka "the rich") .



Anyway, it doesn't matter to anyone here since there is not much of a reason to own shares of a fund when you can own the bitcoins directly.

Barry Silbert has made a career and personal fortune selling things that have questionable value.

Food for thought:

http://www.glassdoor.com/Reviews/SecondMarket-Reviews-E432167.htm

http://techcrunch.com/2013/04/25/secondmarket-confirms-layoffs-to-have-leaner-cost-structure-become-break-even/

http://www.inc.com/eric-markowitz/second-market-second-act-sec-ruling.html

http://betabeat.com/2013/04/layoffs-at-secondmarket-barry-silbert/

http://finance.fortune.cnn.com/

http://www.bizjournals.com/sanjose/print-edition/2012/05/11/private-stock-markets-hope-theres.html?page=2

http://www.bloomberg.com/news/2011-04-27/facebook-drives-secondmarket-broking-1-billion-private-shares.html

http://dealbook.nytimes.com/2013/09/25/fund-to-let-investors-bet-on-price-of-bitcoins/

agreed! cant wait how this is going to play out.

Facebook and Twitter have sold shares pre-IPO on second market

not sure where you were getting your info from

whois secondmarket.com

Domain Name: SECONDMARKET.COM
Registrar URL: http://www.godaddy.com
Updated Date: 2011-03-10 11:10:45
Creation Date: 2003-04-12 13:07:44
Registrar Expiration Date: 2020-04-12 13:07:44
Registrar: GoDaddy.com, LLC
Registrant Name: SecondMarket Holdings Inc
Registrant Organization: SecondMarket Holdings, Inc.
Registrant Street: 636 Avenue of the Americas
Registrant City: New York
Registrant State/Province: New York
Registrant Postal Code: 10011
Registrant Country: United States
Admin Name: SecondMarket Holdings Inc
Admin Organization: SecondMarket Holdings, Inc.
Admin Street: 636 Avenue of the Americas
Admin City: New York
Admin State/Province: New York
Admin Postal Code: 10011
Admin Country: United States
Admin Phone: +1.2126685920
Admin Fax:
Admin Email: [email protected]
Tech Name: SecondMarket Holdings Inc
Tech Organization: SecondMarket Holdings, Inc.
Tech Street: 636 Avenue of the Americas
Tech City: New York
Tech State/Province: New York
Tech Postal Code: 10011
Tech Country: United States
Tech Phone: +1.2126685920
Tech Fax:
Tech Email: [email protected]
Name Server: NS-309.AWSDNS-38.COM
Name Server: NS-1199.AWSDNS-21.ORG
Name Server: NS-554.AWSDNS-05.NET
Name Server: NS-1926.AWSDNS-48.CO.UK

from their site:

Member FINRA | MSRB | SIPC

Registered with the SEC as an alternative trading system for trading in private company shares.

put simply it will eat the orders on the sell wall..

so if the price was $135 to sell

$135 - 100BTC
$136 - 100BTC
$137 - 100BTC
$138 - 100BTC
$139 - 100BTC

a order of 300BTC would make the price $138

now for some investigation (due to the ever over shadowing of the trendon shavers history.

this company is set up this year, but never claimed to be 'owned' by some bi financial and legally responsible group... only 'sponsored'.

imagine it like a football game.. if a team went into debt, you cannot take the sponsors to court as they are legally 'donators' in exchange for advertising.

now to translate more of their wording..

notice the lack of plural in participant (sounds like a one-man-band)
translates to:
we have ONE guy that has registered his bank details with the exchanges, and has friends on bitcoin-otc to buy coins from aswell


translates to:
you do not buy bitcoins but a percentage of ownership of the company (shares). and because the organisers claim to only be sponsors, you the owner become legally accountable for any debt/legal issues.



translates to:
we dont have qualified staff, but we want legally accredited investors so that when $h!t hits the fan, they can only blame themselves.

there are more holes in every paragraph. but the main ones to look at are the who-is search on their domain............
oh look their in hiding...

well goodluck but this is not a proper institutional business, this is a one man band that throws big names into the air, pretending they own the company, when infact they can scarper with the funds leaving ownership and legal matters with the victims..

this is pirate 2.0

This will indeed raise bitcoin price.

Most likely this will be the case ^^ agreed.

I'm not verse in such matters, but it seems to be that this will somehow increase the price of bitcoins, with later keeping it stable. There's no way deep-pocket investors are going to let the price slip.

This is huge. First time you can actually put large amounts of money without having to trust some shady/new/foreign company. They have real law firms, real regulatory compliance, real auditors, etc., which are things you worry about with big investments.