Topic: GBTC Bitcoin Investment Trust Observer - page 63. (Read 262357 times)

No, no real change since last update

if my math is right, I think there's a selling of approx $250k worth of BTC (a few hundreds at prevailing prices)

On the homepage http://www.bitcointrust.co/  Just scroll down a few screenfuls until the chart of BTC price.
The Net Assets amount is at the bottom left of the chart.
Other quantities tabulated here are computed as described on page 1 of this thread.
I cannot see a date on that page, but the chart goes to Dec/10.

There is a fact sheet
http://bitcointrust.wpengine.netdna-cdn.com/wp-content/uploads/2014/12/Fact-Sheet_Dec.pdf
but it has no extra data that I can see, and it is updated only monthly it seems.

Not as of the latest update

Those have long been liquidated I would say.

Can you point to specifically where you're able to find your numbers on the bitcointrust website?

Plus another 30k seized coins will be auctioned in Australia.

There may be other auctions for other piles of coins seized in other arrests. And sometime after September 2015 the 220'000 coins salvaged from MtGOX will be returned to the former clients. 

Me too. Then this stone hanging over us is gone.

Hoping we will see the resumption of SM's larger volume buying patterns now that we're in-between auctions. Will also be glad once all of the SR coins have been sold off.

@jl2012: Sorry about the off-topic posts; I deleted some, feel free to delete more if you think that they don't belong here.

To return to the topic: OTC stands for "over the counter" which means stock traded by a dealer network instead of a regular stock exchange, like NYSE or NASDAQ.

The way SMBIT shares will be traded (so it is claimed) is not "OTC" but on an exchange-like company called (confusingly) OTCMarkets, specifically on a section that they call "OTCQX". 

Please go to the wall observer for off topic discussion

Yes, it's a textbook [global] wealth redistribution scheme [which I outlined last year].

Now you're finally starting to understand and next year you will believe but it will be too late to gain from the madness.

Well, people paying $10,000/BTC would create confidence and buyer demand, so other people will want to pay more than $10,000 so's not to miss out on this disruptive technology black swan that's about to reach the tipping point because singularity paradigm shift.  
It's all very scientific and dangerous, but we're the on the bleeding edge of ...  Don't worry so much!

Well, at least one of us does not understand how funds work. 

As investors come buy COIN fund shares, the COIN fund will have to buy the corresponding BTC somewhere.  The Winkles at some point will sell their 110'000 BTC to the fund.  (That is what "provide liquidity for" means).  They will own the fund, and the fund will own those BTC and maybe some more; but the fund will also owe to its investors the dollar equivalent of those bitcoins (minus a few % in fees).  So the net assets of the fund will be just those fees.

Simplifying the equations: the Winkes will sell their BTC to the fund investors, for the current market price plus a few % in fees.  After that, they will only get a few % of whatever investors invest in the fund.


Why would they want to do that?  Bitcoin will still be a risky investment, with no backing assets and paying no dividends, whose value is entirely dependent on the expectation of future expectations of investors.

Right now, no one with money wants to buy those bitcoins that are for sale at 360$.  If the Winkles and Silberts and Drapers really believed that bitcoin had a 10% chance of being 10'000$ next year, they would buy every coin they could, until the price reached 1000$.  They are not optimistic; they just want others to be optimistic -- and buy their bitcoins.

If the COIN fund buys a million bitcoins from current holders at 10'000 $/BTC, that would mean 10 billion dollars will go from the pockets of fund investors to the pocekts of current holders.   But when are the investors getting back their 10 billion dollars, and from where?

That is the difference between investing 10 billion in bitcoin (whether bare, or wrapped in the glittering tinfoil of a fund) and investing 10 billion in stocks.  In the latter case the investors become owners of 10 billion worth in factories and such, which will create many more billions of new wealth.  In the case of bitcoins, the 10 billion will just pay for caviar and palaces and lamborghinis for the old holders; no wealth will be created, only wasted in luxury consumption.  Isn't something wrong with that picture?

The twins will not make anywhere near Billions is fees from the ETF.  Think about how many billionaires there are in the world, then think of how many ETFs there are.  WAY more ETFs exist. Will they make money?  Of course.  But I don't think the ETF, if it's ever approved, will be a big as most people think.

I am very pro Bitcoin.  But $10k a coin isn't happening anytime soon.  BitBet had a bet going starting earlier this year BTC would reach $10k by Nov 29th.  I bet against that in Jan.  I won the bet.  Go start another bet on BitBet now if you believe it will reach 10k in a year.  Put some money where your statements are!   I'll go bet against you.

Yes, a very good sign

Please go to the wall observer for off topic discussion

At least Marcus sounded intelligent and educated in his rebuke; while you sound like nothing more than a dropout bigoted fool.

.@marcus_of_augustus:  I can not blame you for being an ignorant, delusional fool, but your utter lack of tact is bothersome.
If at all possible, stop being such an rude faggot.
ty.