Topic: GBTC Bitcoin Investment Trust Observer - page 46. (Read 262371 times)
So... when do people think GBTC shares will actually go for sale? For some reason I got the impression it was going to be yesterday/today.
2 more bids posted for $40 share.
Question is, at what volume to we start to take these prices, let alone the 'ETF', seriously? Not Joking
If someone is willing to pay $400 for 10BTC (100 shares) with the market at $226, who gives a shit? He's an idiot
A $40 bid on 100 shares means they are paying $4000 for 10 BTC, so I assume that was a typo.
I do agree with your concerns regarding liquidity. It will be interesting to see how well it tracks the price once it starts trading.Not a typo - I was saying that that a bid of $40 for 100 shares translates to $400/coin for a whopping 10BTC. Sorry if not clear
Still, it would be very interesting to see these shares trade above current BTC spot prices. Most of the bids are low volume, sure, but it will still be a historic moment for BTC when the first shares changed hands.
Yes... It will be a historical moment because most of those bidders are probably noobs thinking they are bargaining a whole bitcoin at $40.... They will get crushed in seconds, -50% instant loss... Great!
It doesn't matter at what price they change hands, the only thing that matters is that those shares of first shares traded it in such a way. I don't really think that those bids are done by mistake. Either they are just token bids, or someone just wants the first shares
Yes... It will be a historical moment because most of those bidders are probably noobs thinking they are bargaining a whole bitcoin at $40.... They will get crushed in seconds, -50% instant loss... Great!
Those "bids", all for exactly 100 shares, cannot be real bids from end investors. They must be only token amounts that the level-2 brokers entered only to have their names listed on that page.
The lower-tier brokers, if they care to keep their clients, should be telling them to wait until trading starts before buying in.
2 more bids posted for $40 share.
Question is, at what volume to we start to take these prices, let alone the 'ETF', seriously? Not Joking
If someone is willing to pay $400 for 10BTC (100 shares) with the market at $226, who gives a shit? He's an idiot
A $40 bid on 100 shares means they are paying $4000 for 10 BTC, so I assume that was a typo.
I do agree with your concerns regarding liquidity. It will be interesting to see how well it tracks the price once it starts trading.Not a typo - I was saying that that a bid of $40 for 100 shares translates to $400/coin for a whopping 10BTC. Sorry if not clear
Still, it would be very interesting to see these shares trade above current BTC spot prices. Most of the bids are low volume, sure, but it will still be a historic moment for BTC when the first shares changed hands.
Yes... It will be a historical moment because most of those bidders are probably noobs thinking they are bargaining a whole bitcoin at $40.... They will get crushed in seconds, -50% instant loss... Great!
2 more bids posted for $40 share.
Question is, at what volume to we start to take these prices, let alone the 'ETF', seriously? Not Joking
If someone is willing to pay $400 for 10BTC (100 shares) with the market at $226, who gives a shit? He's an idiot
A $40 bid on 100 shares means they are paying $4000 for 10 BTC, so I assume that was a typo.
I do agree with your concerns regarding liquidity. It will be interesting to see how well it tracks the price once it starts trading.Not a typo - I was saying that that a bid of $40 for 100 shares translates to $400/coin for a whopping 10BTC. Sorry if not clear
Still, it would be very interesting to see these shares trade above current BTC spot prices. Most of the bids are low volume, sure, but it will still be a historic moment for BTC when the first shares changed hands.
Been almost 4 weeks since announcement. I can't believe in this age it takes this long to transfer sellers shares.
Picture some office in New York City piled high with papers with a few guys in there who totally don't give a shit about any of these company shares talking about sports and taking frequent smoke breaks.
It takes up to 6+ weeks to transfer shares so that we can integrate bitcoin into this shit, prehistoric system.
Yeah but this time it really is the fault of people dealing with this professionally, and not some amateurs who are promising the delivery of their mining gear within the next two weeks(TM). I at least expect from them that they pull through with the work within a reasonable amount of time.
Been almost 4 weeks since announcement. I can't believe in this age it takes this long to transfer sellers shares.
Picture some office in New York City piled high with papers with a few guys in there who totally don't give a shit about any of these company shares talking about sports and taking frequent smoke breaks.
It takes up to 6+ weeks to transfer shares so that we can integrate bitcoin into this shit, prehistoric system.
Yeah.. And I'm getting tired of these "2 weeks tm" jokes.. 
Been almost 4 weeks since announcement. I can't believe in this age it takes this long to transfer sellers shares.
Bahh... So boring... Are there any news about GBTC?
Updated.
2 bids for 400 per coin. Woohoo!Code:
Puma Capital, LLC 100 40.00
Maxim Group LLC 100 40.00
Canaccord Genuity Inc 100 37.50
Citadel Securities 100 36.00
KCG Americas LLC 100 35.55
Wedbush Securities Inc 100 31.50
Cantor Fitzgerald & Co 100 25.00
Merriman Curhan Ford & Co 100 20.00
Wall Street Access 100 20.00
And they only want 20 bitcoins, this must be huge for the entire exchange market!
Time to move your bid orders from sub $200 to $400
Updated.
2 bids for 400 per coin. Woohoo! Code:
Puma Capital, LLC 100 40.00
Maxim Group LLC 100 40.00
Canaccord Genuity Inc 100 37.50
Citadel Securities 100 36.00
KCG Americas LLC 100 35.55
Wedbush Securities Inc 100 31.50
Cantor Fitzgerald & Co 100 25.00
Merriman Curhan Ford & Co 100 20.00
Wall Street Access 100 20.00
2 more bids posted for $40 share.
Question is, at what volume to we start to take these prices, let alone the 'ETF', seriously? Not Joking
If someone is willing to pay $400 for 10BTC (100 shares) with the market at $226, who gives a shit? He's an idiot
A $40 bid on 100 shares means they are paying $4000 for 10 BTC, so I assume that was a typo.
I do agree with your concerns regarding liquidity. It will be interesting to see how well it tracks the price once it starts trading.Not a typo - I was saying that that a bid of $40 for 100 shares translates to $400/coin for a whopping 10BTC. Sorry if not clear
Besides you don't know, if our trusted volume exchanges (I look at you china) are not cheating on us. As long as there is not enough transparency, we should not rule out anything.
2 more bids posted for $40 share.
Question is, at what volume to we start to take these prices, let alone the 'ETF', seriously? Not Joking
If someone is willing to pay $400 for 10BTC (100 shares) with the market at $226, who gives a shit? He's an idiot
1000BTC? Still a fool
10,000 BTC? Start's to look a bit more sane, but still stupid
etc ...
Point being, unless there is a significant $/BTC volume of transactions the price is meaningless, and just another tool to be used to potentially mislead people. If there is no significant liquidity pool and turnover, it's like BTC, except you don't hold it yourself, have bigger spreads and higher slippage. Where do I sign?
If it's a raging success I will totally own being completely wrong, but I have serious doubts that this little experiment will have a positive impact on the BTC price and is more likely to lead to bad news than good.
A $40 bid on 100 shares means they are paying $4000 for 10 BTC, so I assume that was a typo.
I do agree with your concerns regarding liquidity. It will be interesting to see how well it tracks the price once it starts trading.Im sure it can be pretty much everything except a typo.
Bids are hovering too long over 300+++
Question is if it is serious or manipulation. The bidders there can alone easily pump btc to 4-5 digits if they want to
2 more bids posted for $40 share.
Question is, at what volume to we start to take these prices, let alone the 'ETF', seriously? Not Joking
If someone is willing to pay $400 for 10BTC (100 shares) with the market at $226, who gives a shit? He's an idiot
1000BTC? Still a fool
10,000 BTC? Start's to look a bit more sane, but still stupid
etc ...
Point being, unless there is a significant $/BTC volume of transactions the price is meaningless, and just another tool to be used to potentially mislead people. If there is no significant liquidity pool and turnover, it's like BTC, except you don't hold it yourself, have bigger spreads and higher slippage. Where do I sign?
If it's a raging success I will totally own being completely wrong, but I have serious doubts that this little experiment will have a positive impact on the BTC price and is more likely to lead to bad news than good.
A $40 bid on 100 shares means they are paying $4000 for 10 BTC, so I assume that was a typo.
I do agree with your concerns regarding liquidity. It will be interesting to see how well it tracks the price once it starts trading.
Probably just a show of interest, a signal to sellers who will someday be able to place an ask.
Level 2 typically operates on blocks of 100 shares, so this is the minimum bid size. I admit I don't have much experience with the OTC markets though.
Level 2 typically operates on blocks of 100 shares, so this is the minimum bid size. I admit I don't have much experience with the OTC markets though.
Its weird every bid is for 10 btc...
Updated.
Code:
Puma Capital, LLC 100 40.00
Maxim Group LLC 100 40.00
Canaccord Genuity Inc 100 37.50
Citadel Securities 100 36.00
KCG Americas LLC 100 35.55
Wedbush Securities Inc 100 31.50
Cantor Fitzgerald & Co 100 25.00
Merriman Curhan Ford & Co 100 20.00
Wall Street Access 100 20.00
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