Topic: Buy bitcoins on Nasdaq - page 6. (Read 13736 times)
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.
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?
Also known as how do you exit an illiquid market without destroying the price...
The beautiful thing with bitcoin is that you may never need to liquidate them, you just simply spend them if the acceptance is enough wide, means only money inflow, no outflow
i agree that's why i collect every kind of "coin" i can get>> get it?LOL
>>NICEEEEE
Nice to see reason simply oozing through these forums. You do realize the Winklevii have investments in other Bitcoin businesses, they will not shoot themselves in the foot and compromise their investment.
It just depends on where they think they will make the greatest return and what their exit strategy is. By selling out in an IPO at market through a securities offering, they get 100% out with no slippage -- other than the offering cost which might actually be priced in as well. It's quite smart if they can get it funded and represents an enormous return on investment for them.
Their other public Bitcoin investments are substantially smaller than their "currency" profits and so they get to take money off the table and continue to play for free. They're not flooding the market with Bitcoins either -- rather the opposite in fact. And of course, like the fund in Malta, they provide a way for traders to hedge their positions by shorting the EFT.
This all seems quite reasonable to me and doesn't involve shooting anyone in the foot.
" Take a look at his posting history " >>
yes it i did the math on that one a few days ago= it would take a speed reader over 2 weeks(no sleep) to pull that one off!!LMFAO!!
>>WALL STREET LOVEEEEEE!!LOL!!!
Take a look at his posting history and then just click ignore. It is nonsensical rants using broken giberish in every thread.
English might not be their first language.
Nonsense might be though.
Nice to see reason simply oozing through these forums. You do realize the Winklevii have investments in other Bitcoin businesses, they will not shoot themselves in the foot and compromise their investment.
Take a look at his posting history and then just click ignore. It is nonsensical rants using broken giberish in every thread.
If I'm reading the filing correctly, this is essentially an ETF with BTC as a base asset. So, if this gets approved and listed, everyone will be able to buy bitcoins in any amount through their favorite broker. Institutional investors into BTC, anyone?
Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.
And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.
Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.
And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.
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!!!
Your crazy..
His crazy indeed...
Warren B and friends sey no like bitcoin pumpjobbers~ he say ~> BTC = Rat Poison
>>DO YOU NEED A LINK???*MUST SEE!*
Exactly, Rat = Banks
Also known as how do you exit an illiquid market without destroying the price...
The beautiful thing with bitcoin is that you may never need to liquidate them, you just simply spend them if the acceptance is enough wide, means only money inflow, no outflow
i agree that's why i collect every kind of "coin" i can get>> get it?LOL
>>NICEEEEE
Nice to see reason simply oozing through these forums. You do realize the Winklevii have investments in other Bitcoin businesses, they will not shoot themselves in the foot and compromise their investment.
Warren B and friends sey no like bitcoin pumpjobbers~ he say = Rat Poison
>>DO YOU NEED A LINK???*MUST SEE!*
Do you need a lesson in typing? Why is everything you write bolded? Is it just that. fucking. important?
Also known as how do you exit an illiquid market without destroying the price...
The beautiful thing with bitcoin is that you may never need to liquidate them, you just simply spend them if the acceptance is enough wide, means only money inflow, no outflow
i agree that's why i collect every kind of "coin" i can get>> get it?LOL
>>NICEEEEE
Nice to see reason simply oozing through these forums. You do realize the Winklevii have investments in other Bitcoin businesses, they will not shoot themselves in the foot and compromise their investment.
Warren B and friends sey no like bitcoin pumpjobbers~ he say ~> BTC = Rat Poison
>>DO YOU NEED A LINK???*MUST SEE!*
Also known as how do you exit an illiquid market without destroying the price...
The beautiful thing with bitcoin is that you may never need to liquidate them, you just simply spend them if the acceptance is enough wide, means only money inflow, no outflow
i agree that's why i collect every kind of "coin" i can get>> get it?LOL
>>NICEEEEE
Nice to see reason simply oozing through these forums. You do realize the Winklevii have investments in other Bitcoin businesses, they will not shoot themselves in the foot and compromise their investment.
Also known as how do you exit an illiquid market without destroying the price...
The beautiful thing with bitcoin is that you may never need to liquidate them, you just simply spend them if the acceptance is enough wide, means only money inflow, no outflow
now you are catching on---i agree that's why i collect every kind of "coin" i can get>> get it?LOL
>>NICEEEEE
Also known as how do you exit an illiquid market without destroying the price...
The beautiful thing with bitcoin is that you may never need to liquidate them, you just simply spend them if the acceptance is enough wide, means only money inflow, no outflow
If I'm reading the filing correctly, this is essentially an ETF with BTC as a base asset. So, if this gets approved and listed, everyone will be able to buy bitcoins in any amount through their favorite broker. Institutional investors into BTC, anyone?
Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.
And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.
Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.
And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.
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!!!
Your crazy..
If I'm reading the filing correctly, this is essentially an ETF with BTC as a base asset. So, if this gets approved and listed, everyone will be able to buy bitcoins in any amount through their favorite broker. Institutional investors into BTC, anyone?
Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.
And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.
Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.
And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.
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!!!
...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'
Now your 401k can invest in bitcoins, retirement funds, every wall street trader... this is opening floodgates.
It's still for the rich. You're going to need about a million to invest, give or take depending on where the price goes.
Quote
On the first day of trading, each Share in the initial Baskets was comprised of [0.20] Bitcoins, and each initial Basket was made up of [10,000] Bitcoins.
They're only selling them in "baskets" so the minimum purchase is 10,000 BTC.
No you are mistaken. The basket is 50,000 shares = 1,000 BTC but the purpose of the basket is merely to fund the IPO (and later allow issuance and redemption of shares). This is a filing for a PUBLIC offering
It may help to look at how physical gold trusts, existing financial product which is very similar, work. For a physical gold trust, to issue new shares or redeem existing shares requires a basket of thousands of shares. This is almost never done by anyone other that institutional investors. However any retail investor can use their "normal" brokerage account and TRADE existing shares of the trust (TRADE not ISSUE or REDEEM). One could even trade a single share (although brokerage fees make that uneconomical). The ability to issue or redeem baskets of shares allows the fund to remain balanced. Based on the S-1 this is very very similar structure just replace Gold with Bitcoin.
Gold is a tangible asset here we have nothing proven except Silk Road and Eric Vs' SatoshiDice!!!LOL
>>WTF!!!
Just thought of this...
This will force the regulators hands in making a decision no?
They will have to define it as some kind of asset at the least.
Good bad or otherwise we will know soon what bitcoin is or isn't
This will force the regulators hands in making a decision no?
They will have to define it as some kind of asset at the least.
Good bad or otherwise we will know soon what bitcoin is or isn't
Don't expect regulators to work together, make sense, or even talk. It is entirely possible that SEC will define Bitcoin as a tradeable asset, CFTC define it as a "virtual commodity" and FinCEN still call Bitcoin "monetary value" (and thus subject exchangers to MSB/MT regulations). Meanwhile the states offer tortured illogical notices and guidance due to a lack of basic understanding on what Bitcoin is.
Actually I would count on the above happening. Maybe in a decade or so and hundreds of court cases you will see something resembling a logical regulator environment emerge.
Bitcoin promoters are just like the geek version of pennystock cults with all the hype, pumping and lack of integrity!!LOL
>>WTF!!!
Trust will be terminated if:
How exactly would they not be considered a money transmitter? They're acting on behalf of a third party (the investor) to purchase Bitcoin.
Quote
the Trust is determined to be a “money transmitter” under the regulations promulgated by FinCEN under the authority of the US Bank Secrecy Act and is required to comply with certain FinCEN regulations thereunder, and the Trust receives notice from the Sponsor that, because of that determination, termination of the Trust is advisable;
How exactly would they not be considered a money transmitter? They're acting on behalf of a third party (the investor) to purchase Bitcoin.
Because just like they said, they are treating bitcoin as a commodity, and not a currency. To them, and for this security, bitcoin is being treated the same as gold or any other commodity that can be securitized.
Ah, yeah you're right. So I guess the million dollar question now is does the SEC & other regulatory bodies agree with them.
short answer: NOT A CHANCE IN HELL!!
>>WTF!!!!
If I'm reading the filing correctly, this is essentially an ETF with BTC as a base asset. So, if this gets approved and listed, everyone will be able to buy bitcoins in any amount through their favorite broker. Institutional investors into BTC, anyone?
Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.
And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.
Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.
And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.
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