Topic: GBTC Bitcoin Investment Trust Observer - page 74. (Read 262357 times)
Gambler personalities sometimes like to put off selling if they think price is too low (early April), hoping it will rebound later in the year.
...
Barry Silbert tweeted a vague warning about some selling because of the October 15th tax extension deadline. I am fairly sure any selling before that is probably related. Here is the tweet: https://twitter.com/barrysilbert/status/519120987334651905
And today's tweet even says, "tax selling is finally behind us" https://twitter.com/barrysilbert/status/522440627502723075
Barry Silbert tweeted a vague warning about some selling because of the October 15th tax extension deadline. I am fairly sure any selling before that is probably related. Here is the tweet: https://twitter.com/barrysilbert/status/519120987334651905
And today's tweet even says, "tax selling is finally behind us" https://twitter.com/barrysilbert/status/522440627502723075
The problem with this theory is that the extension gives you until October 15th to *file*, but does not extend your time to pay at all:
Quote
An automatic 6-month extension to file does not extend the time to pay your tax. If you do not pay your tax by the original due date of your return, you will owe interest on the unpaid tax and may owe penalties.
http://www.irs.gov/instructions/i1040/ar01.html#d0e489So this theory hinges on people filing the extension and either knowingly or unknowingly paying the tax late, with whatever interest and penalties that entails. That may indeed be happening, but Barry has never voiced an understanding that that would have to be the case, to my knowledge.
And keep in mind that IRS Notice 2014-21 came out in late March; ie, *before* the April 15th standard deadline: http://www.irs.gov/uac/Newsroom/IRS-Virtual-Currency-Guidance
I think a lot of people filed for extensions because they didn't know how much they owed the IRS. The penalty is 0.5% per month in addition to the annualized 3% interest rate on what you owed for April 15th... in Bitcoin land, that kind of interest rate is basically nothing compared to volatility, so I'm sure many people didn't pay anything until Oct. 15th.
Price also tanked heading into Apr 15th. Worth noting.
...
Barry Silbert tweeted a vague warning about some selling because of the October 15th tax extension deadline. I am fairly sure any selling before that is probably related. Here is the tweet: https://twitter.com/barrysilbert/status/519120987334651905
And today's tweet even says, "tax selling is finally behind us" https://twitter.com/barrysilbert/status/522440627502723075
Barry Silbert tweeted a vague warning about some selling because of the October 15th tax extension deadline. I am fairly sure any selling before that is probably related. Here is the tweet: https://twitter.com/barrysilbert/status/519120987334651905
And today's tweet even says, "tax selling is finally behind us" https://twitter.com/barrysilbert/status/522440627502723075
The problem with this theory is that the extension gives you until October 15th to *file*, but does not extend your time to pay at all:
Quote
An automatic 6-month extension to file does not extend the time to pay your tax. If you do not pay your tax by the original due date of your return, you will owe interest on the unpaid tax and may owe penalties.
http://www.irs.gov/instructions/i1040/ar01.html#d0e489So this theory hinges on people filing the extension and either knowingly or unknowingly paying the tax late, with whatever interest and penalties that entails. That may indeed be happening, but Barry has never voiced an understanding that that would have to be the case, to my knowledge.
And keep in mind that IRS Notice 2014-21 came out in late March; ie, *before* the April 15th standard deadline: http://www.irs.gov/uac/Newsroom/IRS-Virtual-Currency-Guidance
Net holding reduced by 1425XBT on 14 Oct 2014.
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
Damn!
Indeed, that's a shame. I wish we would have access to the figures of the two similar funds that have started (to compare and add up).
Barry Silbert tweeted a vague warning about some selling because of the October 15th tax extension deadline. I am fairly sure any selling before that is probably related. Here is the tweet: https://twitter.com/barrysilbert/status/519120987334651905
And today's tweet even says, "tax selling is finally behind us" https://twitter.com/barrysilbert/status/522440627502723075
That advice is true. But take in mind that Barry Silbert is bitcoin bullish no matter what (he need to get new clients to his investment fund). He also told Russia banning bitcoin was good, just before last big dump to $275 lol.
I am sure he has his own motives behind his posts. However, I appreciate his bullishness and hopefully he can steer the Bitcoin "ship" in a more positive direction.
Net holding reduced by 1425XBT on 14 Oct 2014.
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
Damn!
Indeed, that's a shame. I wish we would have access to the figures of the two similar funds that have started (to compare and add up).
Barry Silbert tweeted a vague warning about some selling because of the October 15th tax extension deadline. I am fairly sure any selling before that is probably related. Here is the tweet: https://twitter.com/barrysilbert/status/519120987334651905
And today's tweet even says, "tax selling is finally behind us" https://twitter.com/barrysilbert/status/522440627502723075
That advice is true. But take in mind that Barry Silbert is bitcoin bullish no matter what (he need to get new clients to his investment fund). He also told Russia banning bitcoin was good, just before last big dump to $275 lol.
Net holding reduced by 1425XBT on 14 Oct 2014.
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
Damn!
Indeed, that's a shame. I wish we would have access to the figures of the two similar funds that have started (to compare and add up).
Barry Silbert tweeted a vague warning about some selling because of the October 15th tax extension deadline. I am fairly sure any selling before that is probably related. Here is the tweet: https://twitter.com/barrysilbert/status/519120987334651905
And today's tweet even says, "tax selling is finally behind us" https://twitter.com/barrysilbert/status/522440627502723075
Net holding reduced by 1425XBT on 14 Oct 2014.
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
Damn!
Indeed, that's a shame. I wish we would have access to the figures of the two similar funds that have started (to compare and add up).
Net holding reduced by 1425XBT on 14 Oct 2014.
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
Damn!
Does anyone know whether SMBIT accepts investments from US citizens/residents?
1464XBT bought last Friday. Bitcoin holding at ATH
Yeah, at least the big money is not cashing out ....... still wonder about who the big dumpers are along the wayThat is about 600'000 USD. I would not call it "big money"; it could well be the life savings of a moderately well-paid professional, for example. The whole fund is worth ~45 M USD.
Net holding reduced by 1425XBT on 14 Oct 2014.
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
The the "Net Assets" figures of 9th and 10th Oct 2014 were both 39.15 million USD. That was probably a mistake as they forgot to update the Net Assets of 10th Oct.
Therefore, the "1464XBT buy" on 10th Oct might not be true. Same for the "1425XBT sell" on 14th Oct
1464XBT bought last Friday. Bitcoin holding at ATH
Yeah, at least the big money is not cashing out ....... still wonder about who the big dumpers are along the way
Cool graph. Thanks! 
Just a quick visualization of some of the data, for your (and my own) amusement...
Weighted daily price (Bitstamp) vs. Secondmarket 'Estimated Net Buying/Selling' (>100 BTC only),
from 2014-05-01 to 2014-10-13
Note that the Net Buying values probably have to be shifted left by a few days in reality, since they represent a net change that took place in the recent past.
(nb: price and net buying not on the same y scale.)
Weighted daily price (Bitstamp) vs. Secondmarket 'Estimated Net Buying/Selling' (>100 BTC only),
from 2014-05-01 to 2014-10-13
Note that the Net Buying values probably have to be shifted left by a few days in reality, since they represent a net change that took place in the recent past.
(nb: price and net buying not on the same y scale.)
1464XBT bought last Friday. Bitcoin holding at ATH
biggest purchase since april?
Well I better buy a little in case this is more insider trading preceding another news announcement this week.
Yep. Last time we had a 1000 BTC buy, it was just before paypal news (and the day after, price went from 396 to 450
)
Well I better buy a little in case this is more insider trading preceding another news announcement this week.
1464XBT bought last Friday. Bitcoin holding at ATH
update
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