Buy bitcoins on Nasdaq - page 4. | Bitcointalksearch.org

DrGregMulhauser

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Merit: 255

Quote from: Foxpup on July 02, 2013, 07:06:30 AM

...This whole thing is merely a way for the trust to "sell" its massive collection of bitcoins without any bitcoins actually trading hands...the trust doesn't make any money that it wouldn't make by simply selling its bitcoins the conventional way...

Funds of this type are designed to generate revenue via management fees. The sponsor's fees and trust expenses are covered by the Bitcoins held in the trust itself. Thus the gradually decreasing net asset value (understood in BTC per share) cited in the filing, pp. 40-41; the same gradual process of NAV erosion also occurs in other commodity ETFs such as precious metal funds, etc.

Foxpup

legendary

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Vile Vixen and Miss Bitcointalk 2021-2023

Quote from: semaforo on July 02, 2013, 06:25:45 AM

If the etf makes any money others will quickly follow suit leading to a ridiculous rally.

I'm not sure you understand how a trust works. The trust doesn't own bitcoins, it merely holds them. The shareholders own the bitcoins, even though they never actually hold them. All shares are fully backed by actual bitcoins held by the trust, and the trust can't issue shares if it doesn't have the bitcoins to back them. This whole thing is merely a way for the trust to "sell" its massive collection of bitcoins without any bitcoins actually trading hands, thereby avoiding a massive price crash (at least, that's the theory). Aside from the lack of a price crash, the trust doesn't make any money that it wouldn't make by simply selling its bitcoins the conventional way (and anyone looking to sell less than 10 million dollars or so worth of bitcoins should do it the conventional way, rather than going to the ridiculous trouble of creating another ETF).

btceic

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♫ A wave came crashing like a fist to the jaw ♫

Quote from: broken_pixel on July 02, 2013, 06:56:36 AM

Easy on that screenshot buddy! Can you maybe make it a bit larger? Its hard to see.

no choice, uploaded from my iphone

broken_pixel

hero member

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Easy on that screenshot buddy! Can you maybe make it a bit larger? Its hard to see.

btceic

sr. member

Activity: 392

Merit: 250

♫ A wave came crashing like a fist to the jaw ♫

This story is spreading, now on bloomberg tv headlines.

semaforo

hero member

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If the etf makes any money others will quickly follow suit leading to a ridiculous rally.

Rampion

legendary

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Quote from: atomium on July 01, 2013, 09:34:14 PM

does anyone know how long it will take the SEC to approve this and have them traded publicly? Is this done fast or does it take weeks/months?

weeks/month would be "fast".

bigdude

hero member

Activity: 896

Merit: 500

Dolphins Finance TRUSTED FINANCE

regardless of who is doing this ... the point is someone IS.

any news is good news for BTC

WaverleyStreet

newbie

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Quote from: SoylentCreek on July 02, 2013, 12:59:45 AM

Quote from: Luckybit on July 02, 2013, 12:37:43 AM

Quote from: flibbr on July 01, 2013, 07:51:01 PM

Quote from: Arvicco on July 01, 2013, 07:33:19 PM

...Once this works, resulting demand for BTC will be absolutely unimaginable for anyone involved in BTC trading right now. 260 usd/btc bubble top? We haven't seen nothing yet, mark my words.

I agree. Once BTC gets more mainstream to these big money investors.. $260 will seem like 'back in the days when it was only $260'

$2600 is more like what we will see once the institutional investors get in.

No! That's not how we do it. $260,000 per coin! Cheesy

ya man ~ this $ 250,000 [MAX KEYSER SOZA] figure keeps some folks clicking on BTC faucets!!LOLl;)

>>EASY $$$!!!

SoylentCreek

sr. member

Activity: 266

Merit: 250

Quote from: Luckybit on July 02, 2013, 12:37:43 AM

Quote from: flibbr on July 01, 2013, 07:51:01 PM

Quote from: Arvicco on July 01, 2013, 07:33:19 PM

...Once this works, resulting demand for BTC will be absolutely unimaginable for anyone involved in BTC trading right now. 260 usd/btc bubble top? We haven't seen nothing yet, mark my words.

I agree. Once BTC gets more mainstream to these big money investors.. $260 will seem like 'back in the days when it was only $260'

$2600 is more like what we will see once the institutional investors get in.

No! That's not how we do it. $260,000 per coin! Cheesy

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: flibbr on July 01, 2013, 07:51:01 PM

Quote from: Arvicco on July 01, 2013, 07:33:19 PM

...Once this works, resulting demand for BTC will be absolutely unimaginable for anyone involved in BTC trading right now. 260 usd/btc bubble top? We haven't seen nothing yet, mark my words.

I agree. Once BTC gets more mainstream to these big money investors.. $260 will seem like 'back in the days when it was only $260'

$2600 is more like what we will see once the institutional investors get in.

shibaji

full member

Activity: 308

Merit: 102

Pretty hilarious - I wonder how they are going to keep the regulatory filings up to date, and what sort of growth they project.

btceic

sr. member

Activity: 392

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♫ A wave came crashing like a fist to the jaw ♫

Quote from: vokain on July 02, 2013, 12:03:37 AM

Quote from: btceic on July 01, 2013, 11:54:34 PM

Quote from: atomium on July 01, 2013, 09:34:14 PM

does anyone know how long it will take the SEC to approve this and have them traded publicly? Is this done fast or does it take weeks/months?

go read up on the siriusxm fiasco, took them years to approve that effn merger.

Did it take them years to approve because it was a fiasco, or vice versa

it took them years to approve it because the sec and the doj are a joke.

vokain

legendary

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Quote from: btceic on July 01, 2013, 11:54:34 PM

Quote from: atomium on July 01, 2013, 09:34:14 PM

does anyone know how long it will take the SEC to approve this and have them traded publicly? Is this done fast or does it take weeks/months?

go read up on the siriusxm fiasco, took them years to approve that effn merger.

Did it take them years to approve because it was a fiasco, or vice versa

btceic

sr. member

Activity: 392

Merit: 250

♫ A wave came crashing like a fist to the jaw ♫

Quote from: atomium on July 01, 2013, 09:34:14 PM

does anyone know how long it will take the SEC to approve this and have them traded publicly? Is this done fast or does it take weeks/months?

go read up on the siriusxm fiasco, took them years to approve that effn merger.

WaverleyStreet

newbie

Activity: 14

Merit: 0

" copper is completely different than gold and bitcoin. gold isnt like most comodities because it doesnt really have an industrial use, only 10% of it is used in such a way. the price of gold is based on historical prices of gold in the context of the global econonomy. the historical price trends are used to predict future prices of gold, from which the current price is derived. there are mechanisms to valuing gold. you essentially value gold based on how you believe other people will perceive the importance of gold compared to other investments.

copper on the other hand is valued by its current and future industrial usage. its pretty easy to evaluate that. "

====>

Aztecs worked with both gold, copper and other precious metals-also they believed mushroom spores came from outer space..,,wait before i go in deep~if you are interested you might read this!!!LOL

http://www.scribd.com/doc/2815953/Refining-Precious-Metal-Wastes-C-M-Hoke

>>>HAVE FUN MELTING YOUR FACE OFF!!!

BitTrade

full member

Activity: 173

Merit: 100

Quote from: WaverleyStreet on July 01, 2013, 08:04:47 PM

Eric V. and friends are controlling somewhere around half of all BTC -Bitcoins ever produced so he has many to get rid of that's why it's backdoor reboot command executed via satoshi himself!!!LOL

>>WTF!!!

Quote from: WaverleyStreet on July 01, 2013, 07:47:30 PM

Bitcoin promoters are just like the geek version of pennystock cults with all the hype, pumping and lack of integrity!!LOL

>>WTF!!!

Can someone ban this guy? Or at least disable his "bold" function?

johnyj

legendary

Activity: 1988

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Beyond Imagination

From numbers, they actually own 200,000 bitcoins, seems that all their coins went into this IPO

WaverleyStreet

newbie

Activity: 14

Merit: 0

Quote from: clout on July 01, 2013, 10:19:56 PM

Quote from: CurbsideProphet on July 01, 2013, 09:58:04 PM

Quote from: clout on July 01, 2013, 09:50:49 PM

Quote from: DeathAndTaxes on July 01, 2013, 09:40:35 PM

Quote from: clout on July 01, 2013, 09:38:58 PM

While I do agree that an ETF will help with hedging investments in bitcoin, it doesn't make the price more stable which is necessary for widespread adoption and a subsequent increase in the value. People on wallstreet are not going to invest in bitcoin just because it is packaged as an ETF. For them it would be tantamount to investing in penny stocks since the ETF itself doesnt bulster the underlying value of bitcoin and there is no metric for how bitcoin should be valued.

What? There is no metric for how any commodity should be valued. What is the metric for the correct price of gold?

Yeah no shit, but its bitcoin. Not gold. Gold is valued by a historical and global consensus. If you go anywhere in the world they will know and accept gold. The same can't be said about bitcoin. There's no reason to invest in bitcoin over gold for a normal investor. For bitcoin to gain the same notoriety that gold has, it has to be used by people first; in the way that gold was primarily used as medium of exchange and not solely a store of value as it is today. To package bitcoin as an ETF is premature because it misses the necessary steps for bitcoin adoption and development. People need to interact with bitcoin in person first not through a trading mechanism.

The "normal" investor has a much wider range of options to invest in and it's clear that they're looking for alternatives. Look at the VIX for example, the average investor can speculate on volatility. Something doesn't have to be tangible or have a long standing history in order for it to be investable by the masses.

yeah precisely investors have a wide range of options to invest, which is why they wouldn't put there money into bitcoin. honestly i am bitcoin enthusiast and I think that crypto currencies can actually change the global economy as we know it, but if i were a portfolio manager i wouldnt put money into bitcoin even if i were looking for alternative investments. there are so many other things you can invest in. in this stage we shouldnt be thinking of crypto currencies as investments we should be thinking of them as currencies that is where there inherent value comes from, its derived from the fact that they can and will progressively improve as mediums of exchange, transcendent modern banking systems.

yeah reel talk- we looked at BTC as being a wildly speculative buy@$10 pps i was dding mostly inspired to buy cheap drugs to flip somehow but the quality sucked and ravers nowadaze with those damn new police type testing kits = game 0ver!

>>WTF!!!LOL

QuestionAuthority

legendary

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You lead and I'll watch you walk away.

Are there mods working here anymore? I really wanted to read this thread but its polluted with garbage. It's like looking at an ignore wall with the occasional post!

@DnT

You mentioned that different agencies will likely define Bitcoin in different ways and I agree with you. What do you think the correct definition, or should I say most favorable definition, of Bitcoin is and do you see a way of presenting that definition to different departments (like a letter campaign) to help speed along the correct legal perception of Bitcoin?

Topic: Buy bitcoins on Nasdaq - page 4. (Read 13726 times)