GBTC Bitcoin Investment Trust Observer - page 58.

David Rabahy

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Quote from: NotLambchop on January 14, 2015, 12:13:19 PM

Lol, I take back everything I said--Bitcoiners are not the happiest people.
But I see how making an unrelated "investment" where you allegedly made money would make you delighted with this winner.

~Happy Investing!

... "delighted to stay the course" is different than "delighted to endure a loss". Is English not your best language or are you deliberately misconstruing?

NotLambchop

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Quote from: David Rabahy on January 14, 2015, 11:56:44 AM

Quote from: NotLambchop on January 14, 2015, 11:39:27 AM

Quote from: David Rabahy on January 13, 2015, 09:43:39 PM

I bought through SecondMarket around $700/btc and I'm delighted to stay the course. ...

Loses over two thirds of his "investment" & is delighted. Bitcoiners are the happiest people

Although I'd be even happier to go to da moon directly, I haven't lost anything yet, I still have my full investment denominated in Bitcoins. *If* I exchanged back into US dollars today then indeed I would realize a loss. Btw, I have another pile of Bitcoins I bought at around $100/btc making it somewhat easier to still be delighted to stay the course. I even took some profits at around $850/btc so that helps make me happy too.

Lol, I take back everything I said--Bitcoiners are not the happiest people.
But I see how making an unrelated "investment" where you allegedly made money would make you delighted with this winner.

~Happy Investing!

David Rabahy

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Activity: 709

Merit: 503

Quote from: JorgeStolfi on January 14, 2015, 11:46:33 AM

OK, sorry, I did not mean that. The point is that the money that went into SM will not come out again. Wouldn't it be like this project of mine?

Oh. I fully expect the money I put in through SM will indeed come out again someday. Your "project" is clearly fraud and not like Bitcoin or SM at all. Well, I suppose SM or even Bitcoin could turn out to be frauds but so far I doubt it. Do you have evidence that either are indeed frauds?

David Rabahy

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Quote from: NotLambchop on January 14, 2015, 11:39:27 AM

Quote from: David Rabahy on January 13, 2015, 09:43:39 PM

I bought through SecondMarket around $700/btc and I'm delighted to stay the course. ...

Loses over two thirds of his "investment" & is delighted. Bitcoiners are the happiest people

Although I'd be even happier to go to da moon directly, I haven't lost anything yet, I still have my full investment denominated in Bitcoins. *If* I exchanged back into US dollars today then indeed I would realize a loss. Btw, I have another pile of Bitcoins I bought at around $100/btc making it somewhat easier to still be delighted to stay the course. I even took some profits at around $850/btc so that helps make me happy too.

JorgeStolfi

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Quote from: David Rabahy on January 14, 2015, 11:35:10 AM

Quote from: JorgeStolfi on January 14, 2015, 11:31:49 AM

That means, there will be no redemptions: investors will have to find other investors in order to cash out. Correct?

Well, I won't have to find another investor to buy my position; rather, I just order my investment converted into the ETF (trivial, might even be automatic) and then trade it just like any other ETF. Naturally there must be buyers of the ETF in order to make a deals but I don't have to find them myself.

OK, sorry, I did not mean that. The point is that the money that went into SM will not come out again. Wouldn't it be like this project of mine?

NotLambchop

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Quote from: David Rabahy on January 13, 2015, 09:43:39 PM

...
I bought through SecondMarket around $700/btc and I'm delighted to stay the course. ...

Loses over two thirds of his "investment" & is delighted. Bitcoiners are the happiest people

David Rabahy

hero member

Activity: 709

Merit: 503

Quote from: JorgeStolfi on January 14, 2015, 11:31:49 AM

That means, there will be no redemptions: investors will have to find other investors in order to cash out. Correct?

Well, I won't have to find another investor to buy my position; rather, I just order my investment converted into the ETF (trivial, might even be automatic) and then trade it just like any other ETF. Naturally there must be buyers of the ETF in order to make a deals but I don't have to find them myself.

JorgeStolfi

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Quote from: David Rabahy on January 14, 2015, 11:26:36 AM

Quote from: JorgeStolfi on January 14, 2015, 10:49:04 AM

Is there a set date for SMBIT to re-enable redemptions?

When I last spoke with the SecondMarket folks they indicated redemptions will be through the ETF, so, no, no specific date is known yet.

That means, there will be no redemptions: investors will have to find other investors in order to cash out. Correct?

David Rabahy

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Activity: 709

Merit: 503

Quote from: JorgeStolfi on January 14, 2015, 10:49:04 AM

Is there a set date for SMBIT to re-enable redemptions?

When I last spoke with the SecondMarket folks they indicated redemptions will be through the ETF, so, no, no specific date is known yet.

JorgeStolfi

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Quote from: David Rabahy on January 14, 2015, 10:24:47 AM

Such investors (one wonders what percentage exists) could have used Bitfinex to sell short (pseudo-naked) to protect their position.

Is there a set date for SMBIT to re-enable redemptions?

David Rabahy

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Activity: 709

Merit: 503

Quote from: JorgeStolfi on January 14, 2015, 03:02:54 AM

Quote from: David Rabahy on January 13, 2015, 09:43:39 PM

I bought through SecondMarket around $700/btc and I'm delighted to stay the course. I wouldn't have sold even if I could have.

Good for you then. But I am thinking of those SMBIT investors who wanted to redeem after the lock-up. Thank Goddess they had a benevolent Authority to protect them from their own weaknesses.

But no problem, I am sure that, if and when SMBIT again allows redemptions, they will offer to redeem the shares according to the price on 2014-10-28 (355 USD/BTC).

Such investors (one wonders what percentage exists) could have used Bitfinex to sell short (pseudo-naked) to protect their position.

JorgeStolfi

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Activity: 910

Merit: 1003

Quote from: David Rabahy on January 13, 2015, 09:43:39 PM

I bought through SecondMarket around $700 and I'm delighted to stay the course. I wouldn't have sold even if I could have.

Good for you then. But I am thinking of those SMBIT investors who wanted to redeem after the lock-up. Thank Goddess they had a benevolent Authority to protect them from their own weaknesses.

But no problem, I am sure that, if and when SMBIT again allows redemptions, they will offer to redeem the shares according to the price on 2014-10-28 (355 USD/BTC).

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: David Rabahy on January 13, 2015, 09:43:39 PM

Quote from: derpinheimer on January 13, 2015, 06:08:00 PM

Quote from: seriouscoin on January 13, 2015, 05:58:38 PM

So any updates Grin

Small guys are dumping, but that does not mean much

I dont think you're seeing small players dumping right now... I'm just as interested in what SecondMarket people are doing, though.

I bought through SecondMarket around $700 and I'm delighted to stay the course. I wouldn't have sold even if I could have. Either Bitcoin et al are the biggest thing since electricity and the wheel or it goes to zero. As applications deploy then the utility/value of Bitcoin will rise. The lackluster sentiment right now is just fine. What'd I like to do is acquire more Bitcoins but that would compromise my diversification.

Ssssshhhh! Don't put ideas in their heads.

(sets buy orders)

seriouscoin

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Activity: 658

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They should buy more coin to lower their avg cost.

Pigs are getting slaughtered, look at all the doomsday threads around here.

I dont like Warren Buffet, but his sense of the market is never wrong. Blood is everywhere, time to be greedy!

jl2012

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update

David Rabahy

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Activity: 709

Merit: 503

Quote from: derpinheimer on January 13, 2015, 06:08:00 PM

Quote from: seriouscoin on January 13, 2015, 05:58:38 PM

So any updates Grin

Small guys are dumping, but that does not mean much

I dont think you're seeing small players dumping right now... I'm just as interested in what SecondMarket people are doing, though.

I bought through SecondMarket around $700/btc and I'm delighted to stay the course. I wouldn't have sold even if I could have. Either Bitcoin et al are the biggest thing since electricity and the wheel or it goes to zero. As applications deploy then the utility/value of Bitcoin will rise. The lackluster sentiment right now is just fine. What'd I like to do is acquire more Bitcoins but that would compromise my diversification.

derpinheimer

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Quote from: seriouscoin on January 13, 2015, 05:58:38 PM

So any updates Grin

Small guys are dumping, but that does not mean much

I dont think you're seeing small players dumping right now... I'm just as interested in what SecondMarket people are doing, though.

Patel

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Sucks for the Bitcoin trust investors that haven't been able to cash out since October.

seriouscoin

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Activity: 658

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So any updates Grin

Small guys are dumping, but that does not mean much

seriouscoin

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Activity: 658

Merit: 500

Quote from: skivrmt on January 10, 2015, 01:29:47 PM

Quote from: seriouscoin on January 10, 2015, 09:08:45 AM

Quote from: BitAddict on January 07, 2015, 06:55:34 AM

Quote from: marcus_of_augustus on January 07, 2015, 02:07:57 AM

... because the use-case for the 'pros' is completely different than your average user.

Not to mention the pro use-case you specifically refer to are the highest high volume trading accounts, interfacing with the legacy banking system and tens of thousands users, with hundreds of new ones signing up, withdrawing, depositing and transacting bitcoins 24 hours of every day since they opened.

It doesn't matter because average Joe don't know that.
And even if average Joe want to hold his coins in a cold wallet it is usually expensive and/or hard to understand how to do it and if you are fully secure or not.

Once standard wallets are easy, 100% fully secure by default and cheap or free, then average Joe will be able to enter.

Anyway average Joe don't need bitcoin for 99% of normal life transactions. So there is no point for them to buy, only for speculating.

Stupid, banks got robbed all the time, yet ppl still use it. Stop saying nonsense idiot. A BTC exchange is always targeted by hackers. An avg Joe isnt. With hardware wallet, an avg Joe dont even need to know how. Just like you dont even have to know how to fix a car to drive one.

Dumbest shit i've read from you recently. I bet you're shorting huh?

Terrible example of course. When banks get robbed you don't lose your money, insurance covers your funds. Gox didn't have insurance. So as soon as Bitstamp, BTC-e, etc receive insurance please let me know. Coinbase has insurance as a fyi.

And you just proved my point, this has nothing to do with bitcoin. Any financial institution must have insurance.

Dumb asses always seem to speak loudest in the room.

Topic: GBTC Bitcoin Investment Trust Observer - page 58. (Read 262371 times)