GBTC Bitcoin Investment Trust Observer - page 10.

CrazyLoaf

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https://xbtprovider.com/news/post/xbt-provider-ab-further-update-in-connection-with-bitcoin-cash

"As was also confirmed in the Press Release of 17th October, 2017, the Issuer has determined to implement a cash distribution plan in respect of the result of this fork. During the three-month ‘observation period’, the Issuer sold 44,471‘Bitcoin Cash’ coins, for a USD value of $14,587,291. These proceeds, less the costs of implementing and administering the distribution plan, will be available for remittance for the benefit of the holders of its bitcoin-referenced Certificates at the opening of trading on August 1st."

$328 a BCH selling price. Didn't know observation period meant dump during that observation period Tongue

MrSunshine

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Quote from: MNDan on November 16, 2017, 05:04:01 PM

I feel like GBTC is the "fiat-embezzlement fund when Bitcoin goes up" fund. Bitcoin up 8% - GBTC up 3.79%. Where did the rest go?

GBTC is usually at a premium to BTC and still is 15% or so now. So this means they can and often move a little bit independently of each other.

MNDan

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I feel like GBTC is the "fiat-embezzlement fund when Bitcoin goes up" fund. Bitcoin up 8% - GBTC up 3.79%. Where did the rest go?

gentlemand

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Welt Am Draht

Quote from: mmortal03 on November 13, 2017, 03:09:03 PM

There is, but it was just started recently, and no one but me has replied to it: https://bitcointalksearch.org/topic/xbt-provider-bitcoin-tracker-one-etn-observer-2310434

Strange. I wonder why it has so few mentions compared to GBTC. It's been around for long enough and it's available to a lot of people. Perhaps it's lack of official Bitcoin backing, though they do back it voluntarily.

Quote from: windjc on November 13, 2017, 03:30:27 PM

I am pretty sure they are selling OTC. I know that I got a message from Genesis Mining that they were doing daily auctions of BCH. I would only assume that such a massive influx of BCH was coming from a massive holder. So these OTC exchanges don't normally impact price that much.

Any talk of what's going to be awarded to holders price wise? Xapo appeared to be offering market rates. I don't know how they did that if it was OTC.

windjc

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I am pretty sure they are selling OTC. I know that I got a message from Genesis Mining that they were doing daily auctions of BCH. I would only assume that such a massive influx of BCH was coming from a massive holder. So these OTC exchanges don't normally impact price that much.

mmortal03

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Quote from: CrazyLoaf on November 12, 2017, 06:28:46 PM

Quote from: mmortal03 on November 11, 2017, 10:33:57 PM

Looks like we will get a *very* nice distribution now!

Or they were morons and sold earlier Tongue

Hopefully they're doing it daily over the 90 day period that they stated. (It's annoying that we don't know the exact schedule.) The only problem I have with 90 days is that I want my distribution *now*!

Quote

So, is there also an active thread on BTCTalk (or elsewhere) for XBT Provider (Coin XBT) discussion? I always found that to be the more compelling investment option compared to GBTC (at least the OTC version - I know the accredited investor version is closer to NAV).

There is, but it was just started recently, and no one but me has replied to it: https://bitcointalksearch.org/topic/xbt-provider-bitcoin-tracker-one-etn-observer-2310434

CrazyLoaf

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Quote from: mmortal03 on November 11, 2017, 10:33:57 PM

Looks like we will get a *very* nice distribution now!

Or they were morons and sold earlier Tongue

So, is there also an active thread on BTCTalk (or elsewhere) for XBT Provider (Coin XBT) discussion? I always found that to be the more compelling investment option compared to GBTC (at least the OTC version - I know the accredited investor version is closer to NAV).

mmortal03

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Looks like we will get a *very* nice distribution now!

mmortal03

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I hope the Trust has started selling that BCH. Looks like we could get a nice distribution now.

megadeth

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bagholder since 2013

I doubt the average GBTC investor knows or cares about the BCC distribution.
Hope Barry has a good selling plan to get a decent price for the BCC and doesn't gouge too much in fees.

mmortal03

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Quote from: mmortal03 on November 06, 2017, 03:13:29 PM

I'm interested to see if we'll get an 8% correction (additional to whatever movement BTC makes) tomorrow on the GBTC price, due to the BCH being removed from the equation.

So far, we haven't seen it.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: gentlemand on November 06, 2017, 04:22:21 PM

Quote from: megadeth on November 06, 2017, 04:18:01 PM

Here's the 24 hour volume. Even if some of it is fake, dumping 1% of the supply should be fairly easy.

Blimey. I haven't been paying enough attention clearly. That's a lot of volume in anyone's book.

I wonder whether they had a fork policy in place when the fund was created. Back then it must've seemed like an extraordinarily remote possibility. And I wonder whether the SEC is even more pleased they didn't approve funds that replicated like mushrooms.

... it must be like a regulator's worst nightmare, first cryptocoin started proliferating and then the ICO tokens splitting out another hundreds of lines of leakage to try and track down ... now we got these massive forks of the main chain moving large amounts around ... the whole space is like a medusa and they haven't even tried cutting off heads yet.

mmortal03

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Quote from: gentlemand on November 06, 2017, 04:22:21 PM

I wonder whether they had a fork policy in place when the fund was created. Back then it must've seemed like an extraordinarily remote possibility.

There was a shareholder vote recently to enable it.

gentlemand

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Quote from: megadeth on November 06, 2017, 04:18:01 PM

Here's the 24 hour volume. Even if some of it is fake, dumping 1% of the supply should be fairly easy.

Blimey. I haven't been paying enough attention clearly. That's a lot of volume in anyone's book.

I wonder whether they had a fork policy in place when the fund was created. Back then it must've seemed like an extraordinarily remote possibility. And I wonder whether the SEC is even more pleased they didn't approve funds that replicated like mushrooms.

megadeth

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bagholder since 2013

Here's the 24 hour volume. Even if some of it is fake, dumping 1% of the supply should be fairly easy.

Picked up some more today in my IRA to access all the forks (B2X, BCC)

gentlemand

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Quote from: mmortal03 on October 29, 2017, 06:10:01 AM

My back of the envelope calculations show that the Trust will be selling off about 1% of what is the total BCH supply. It should be especially interesting what happens starting next week, given the current BCH pump.

I wonder where you find a buyer for that quantity of an alt other than the Bitmain crew. It's a big fat pile of money for anyone to cough up. Is it done on exchanges? Is there enough volume?

Similarly I'd love to know how Xapo got rid of theirs.

mmortal03

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I'm interested to see if we'll get an 8% correction (additional to whatever movement BTC makes) tomorrow on the GBTC price, due to the BCH being removed from the equation.

mmortal03

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Quote from: MrSunshine on October 29, 2017, 01:43:42 PM

Quote from: mmortal03 on October 29, 2017, 06:10:01 AM

My back of the envelope calculations show that the Trust will be selling off about 1% of what is the total BCH supply. It should be especially interesting what happens starting next week, given the current BCH pump.

I thought this news might cause BCH to spike down in price, and certainly not pump up. In fact I almost sold my BCH (earned from BTC holdings) with that idea in mind.

It's good that you didn't.

MrSunshine

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Quote from: mmortal03 on October 29, 2017, 06:10:01 AM

My back of the envelope calculations show that the Trust will be selling off about 1% of what is the total BCH supply. It should be especially interesting what happens starting next week, given the current BCH pump.

I thought this news might cause BCH to spike down in price, and certainly not pump up. In fact I almost sold my BCH (earned from BTC holdings) with that idea in mind.

mmortal03

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Activity: 1762

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My back of the envelope calculations show that the Trust will be selling off about 1% of what is the total BCH supply. It should be especially interesting what happens starting next week, given the current BCH pump.

Topic: GBTC Bitcoin Investment Trust Observer - page 10. (Read 262382 times)