GBTC Bitcoin Investment Trust Observer - page 23.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: Vlad2Vlad on April 26, 2016, 05:56:05 AM

Quote from: iCEBREAKER on April 25, 2016, 06:06:31 PM

Quote from: Alley on April 25, 2016, 05:35:26 PM

At some point you would think investors would just start buying physical bitcoins rather then pay over $700 per coin now with gbtc. I don't get it...

What you "don't get" is that due to certain Wall St Ponzi scheme benefiting tax arrangements/incentives, many working slobs are only allowed to invest their IRA $$$ in the stock market.

So GBTC is being bought with blue $$$, not the green $$$ used to buy BTC everywhere else. Totally different market; hard to arb.

This trend will greatly intensify when COIN is ready, because it will be vastly more eligible for IRA (and institutional) $$$ than obscure pink sheet GBTC.

Dude you sound just like me and that other crazy guy, TPTB_Need_War.

Then there were 3. lol

Ha!

The Great Schism has been distracting us from what's really important to Bitcoin - libertarian invective, strident to the point of flaming.

Can't let Crazy Uncle Shelby and Bitcoin Judas monopolize that space. Small-blocker cyberpunks do it better! Cool

David Rabahy

hero member

Activity: 709

Merit: 503

Quote from: David Rabahy on April 26, 2016, 08:30:35 AM

Quote from: GGALINff on April 26, 2016, 06:53:43 AM

All new investments (including follow-on by existing investors) are subject to 12 month holding period

That doesn't match what I was told. I have sent an email to Grayscale asking for clarification and will post the response here when I get it.

My bad; per Rule 144 http://www.investopedia.com/terms/r/rule144.asp there is a 12 month holding period effectively making arbitrage way too slow.

NUFCrichard

legendary

Activity: 1218

Merit: 1003

Quote from: Vlad2Vlad on April 25, 2016, 03:22:46 AM

Quote from: iCEBREAKER on April 24, 2016, 09:49:38 PM

Now that Shanghai is making gold and silver markets in yuan, backed by actual physical transactions, I'd like to see the SFE create COIN-like vehicles for BTC exposure (only with less absurdly byzantine regs and obviously self-serving delays).

When it takes a Spider Woman years to simply reuse GLD's template, the Deep Capture is beyond Jump You Fuckers territory and well into the realm of Up Against The Wall, Assholes.

Great post, man! I totally agree. And I think china is gonna launch a gold backed crypto. Not sure when but it makes a lot of sense.

Why would a gold backed cryptocurrency be good? Crypto can back itself, gold is already well established.
If I send you some of the gbc (gold backed crypto), will I also have to send you the gold? Or will it be stored in a central place? if so by whom?

David Rabahy

hero member

Activity: 709

Merit: 503

Quote from: GGALINff on April 26, 2016, 06:53:43 AM

All new investments (including follow-on by existing investors) are subject to 12 month holding period

That doesn't match what I was told. I have sent an email to Grayscale asking for clarification and will post the response here when I get it.

Vlad2Vlad

legendary

Activity: 3052

Merit: 1534

www.ixcoin.net

Quote from: GGALINff on April 26, 2016, 06:53:43 AM

All new investments (including follow-on by existing investors) are subject to 12 month holding period

This is just one reason why COIN is gonna catch Bitcoin [and cryptoworld] on fire.

GGALINff

full member

Activity: 219

Merit: 100

Quote from: David Rabahy on April 24, 2016, 07:37:49 PM

Quote from: criptix on April 23, 2016, 10:57:15 AM

Quote from: David Rabahy on April 23, 2016, 07:13:15 AM

Quote from: marcus_of_augustus on April 22, 2016, 06:51:56 PM

Still no good way to arb this then??

I wish. It took me most of a year to push through to real liquidity (although technically that is unproven until I do sell at least a portion, hmm). I do believe it would go faster the second time but to arbitrage it would require something less than a month for me to be comfortable and more like a few days to really crank it up. I might take a second smaller lot in just to try; they did indicate that I wouldn't have to take a full $25K in since I'm already established. If I do then I will report back.

I am reluctant to take out any of what I've got in already for fear of missing a jump up while goofing around trying to get it back in. I am as long-minded as one can get. That said, I've got as much of my total wealth in already that I'm comfortable with. $70.90/$42.60 is a crazy huge spread and very tempting.

Isnt arbing next to impossible because you have to hold atleast 1 year?

Apparently that only applied to the original investment; new funds going in now are converted to GBTC without any holding period at all.

All new investments (including follow-on by existing investors) are subject to 12 month holding period

Vlad2Vlad

legendary

Activity: 3052

Merit: 1534

www.ixcoin.net

Quote from: iCEBREAKER on April 25, 2016, 06:06:31 PM

Quote from: Alley on April 25, 2016, 05:35:26 PM

At some point you would think investors would just start buying physical bitcoins rather then pay over $700 per coin now with gbtc. I don't get it...

What you "don't get" is that due to certain Wall St Ponzi scheme benefiting tax arrangements/incentives, many working slobs are only allowed to invest their IRA $$$ in the stock market.

So GBTC is being bought with blue $$$, not the green $$$ used to buy BTC everywhere else. Totally different market; hard to arb.

This trend will greatly intensify when COIN is ready, because it will be vastly more eligible for IRA (and institutional) $$$ than obscure pink sheet GBTC.

Dude you sound just like me and that other crazy guy, TPTB_Need_War.

Then there were 3. lol

Vlad2Vlad

legendary

Activity: 3052

Merit: 1534

www.ixcoin.net

Quote from: megadeth on April 25, 2016, 06:12:11 PM

Wouldn't directly holding Bitcoin in an IRA offer better value?
https://www.broadfinancial.com/self-directed/bitcoin-ira/

Is the legality of the above questionable?

Sure, until the confiscations start.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: Fakhoury on April 25, 2016, 08:04:09 PM

Quote from: iCEBREAKER on April 25, 2016, 07:59:49 PM

Quote from: megadeth on April 25, 2016, 06:12:11 PM

Wouldn't directly holding Bitcoin in an IRA offer better value?
https://www.broadfinancial.com/self-directed/bitcoin-ira/

Is the legality of the above questionable?

No way to tell. They make it up as they go along.

If you concede to the authoritarians, your reward is a Kafkaesque nightmare of conflicting definitions and overlapping regulations/jurisdictions.

Better to put them on notice that if they make it personal, you will respond in kind.

When do you expect to have COIN ETF bro ?

No way to tell. That conspicuous lack of objective decision criteria is a leading indicator the rule of law is dead and we must once again address the present intolerable tyranny of men.

Fakhoury

legendary

Activity: 1386

Merit: 1027

Permabull Bitcoin Investor

Quote from: iCEBREAKER on April 25, 2016, 07:59:49 PM

Quote from: megadeth on April 25, 2016, 06:12:11 PM

Wouldn't directly holding Bitcoin in an IRA offer better value?
https://www.broadfinancial.com/self-directed/bitcoin-ira/

Is the legality of the above questionable?

No way to tell. They make it up as they go along.

If you concede to the authoritarians, your reward is a Kafkaesque nightmare of conflicting definitions and overlapping regulations/jurisdictions.

Better to put them on notice that if they make it personal, you will respond in kind.

When do you expect to have COIN ETF bro ?

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: megadeth on April 25, 2016, 06:12:11 PM

Wouldn't directly holding Bitcoin in an IRA offer better value?
https://www.broadfinancial.com/self-directed/bitcoin-ira/

Is the legality of the above questionable?

No way to tell. They make it up as they go along.

If you concede to the authoritarians, your reward is a Kafkaesque nightmare of conflicting definitions and overlapping regulations/jurisdictions.

Better to put them on notice that if they make it personal, you will respond in kind.

megadeth

sr. member

Activity: 289

Merit: 252

bagholder since 2013

Wouldn't directly holding Bitcoin in an IRA offer better value?
https://www.broadfinancial.com/self-directed/bitcoin-ira/

Is the legality of the above questionable?

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: Alley on April 25, 2016, 05:35:26 PM

At some point you would think investors would just start buying physical bitcoins rather then pay over $700 per coin now with gbtc. I don't get it...

What you "don't get" is that due to certain Wall St Ponzi scheme benefiting tax arrangements/incentives, many working slobs are only allowed to invest their IRA $$$ in the stock market.

So GBTC is being bought with blue $$$, not the green $$$ used to buy BTC everywhere else. Totally different market; hard to arb.

This trend will greatly intensify when COIN is ready, because it will be vastly more eligible for IRA (and institutional) $$$ than obscure pink sheet GBTC.

Alley

legendary

Activity: 910

Merit: 1000

At some point you would think investors would just start buying physical bitcoins rather then pay over $700 per coin now with gbtc. I don't get it...

Vlad2Vlad

legendary

Activity: 3052

Merit: 1534

www.ixcoin.net

Quote from: iCEBREAKER on April 24, 2016, 09:49:38 PM

Now that Shanghai is making gold and silver markets in yuan, backed by actual physical transactions, I'd like to see the SFE create COIN-like vehicles for BTC exposure (only with less absurdly byzantine regs and obviously self-serving delays).

When it takes a Spider Woman years to simply reuse GLD's template, the Deep Capture is beyond Jump You Fuckers territory and well into the realm of Up Against The Wall, Assholes.

Great post, man! I totally agree. And I think china is gonna launch a gold backed crypto. Not sure when but it makes a lot of sense.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: Vlad2Vlad on April 24, 2016, 07:54:16 PM

The real ETF, COIN, is gonna open the floodgates to trillions of dollars.

Now that Shanghai is making gold and silver markets in yuan, backed by actual physical transactions, I'd like to see the SFE create COIN-like vehicles for BTC exposure (only with less absurdly byzantine regs and obviously self-serving delays).

When it takes a Spider Woman years to simply reuse GLD's template, the Deep Capture is beyond Jump You Fuckers territory and well into the realm of Up Against The Wall, Assholes.

Vlad2Vlad

legendary

Activity: 3052

Merit: 1534

www.ixcoin.net

The real ETF, COIN, is gonna open the floodgates to trillions of dollars.

David Rabahy

hero member

Activity: 709

Merit: 503

Quote from: criptix on April 23, 2016, 10:57:15 AM

Quote from: David Rabahy on April 23, 2016, 07:13:15 AM

Quote from: marcus_of_augustus on April 22, 2016, 06:51:56 PM

Still no good way to arb this then??

I wish. It took me most of a year to push through to real liquidity (although technically that is unproven until I do sell at least a portion, hmm). I do believe it would go faster the second time but to arbitrage it would require something less than a month for me to be comfortable and more like a few days to really crank it up. I might take a second smaller lot in just to try; they did indicate that I wouldn't have to take a full $25K in since I'm already established. If I do then I will report back.

I am reluctant to take out any of what I've got in already for fear of missing a jump up while goofing around trying to get it back in. I am as long-minded as one can get. That said, I've got as much of my total wealth in already that I'm comfortable with. $70.90/$42.60 is a crazy huge spread and very tempting.

Isnt arbing next to impossible because you have to hold atleast 1 year?

Apparently that only applied to the original investment; new funds going in now are converted to GBTC without any holding period at all.

criptix

legendary

Activity: 2464

Merit: 1145

Quote from: David Rabahy on April 23, 2016, 07:13:15 AM

Quote from: marcus_of_augustus on April 22, 2016, 06:51:56 PM

Still no good way to arb this then??

I wish. It took me most of a year to push through to real liquidity (although technically that is unproven until I do sell at least a portion, hmm). I do believe it would go faster the second time but to arbitrage it would require something less than a month for me to be comfortable and more like a few days to really crank it up. I might take a second smaller lot in just to try; they did indicate that I wouldn't have to take a full $25K in since I'm already established. If I do then I will report back.

I am reluctant to take out any of what I've got in already for fear of missing a jump up while goofing around trying to get it back in. I am as long-minded as one can get. That said, I've got as much of my total wealth in already that I'm comfortable with. $70.90/$42.60 is a crazy huge spread and very tempting.

Isnt arbing next to impossible because you have to hold atleast 1 year?

David Rabahy

hero member

Activity: 709

Merit: 503

Quote from: marcus_of_augustus on April 22, 2016, 06:51:56 PM

Still no good way to arb this then??

I wish. It took me most of a year to push through to real liquidity (although technically that is unproven until I do sell at least a portion, hmm). I do believe it would go faster the second time but to arbitrage it would require something less than a month for me to be comfortable and more like a few days to really crank it up. I might take a second smaller lot in just to try; they did indicate that I wouldn't have to take a full $25K in since I'm already established. If I do then I will report back.

I am reluctant to take out any of what I've got in already for fear of missing a jump up while goofing around trying to get it back in. I am as long-minded as one can get. That said, I've got as much of my total wealth in already that I'm comfortable with. $70.90/$42.60 is a crazy huge spread and very tempting.

Topic: GBTC Bitcoin Investment Trust Observer - page 23. (Read 262354 times)