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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21836. (Read 26709055 times)

legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
Ok, enough fun now

Let's snap this mofo in reverse!
legendary
Activity: 1260
Merit: 1002
http://www.reddit.com/r/Bitcoin/comments/34vuku/congratulations_bitcoin_on_your_new_ath_133700/

gbtc price at 1337 !!!
how come real bitcoin price still in 233 Huh cmon bear.... obviously you miss 1 number there



GBTC volume is lower than Cryptsy's.
legendary
Activity: 1456
Merit: 1000
http://www.reddit.com/r/Bitcoin/comments/34vuku/congratulations_bitcoin_on_your_new_ath_133700/

gbtc price at 1337 !!!
how come real bitcoin price still in 233 Huh cmon bear.... obviously you miss 1 number there

legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1960
Merit: 1022
Again? Fuck the shorts!
sr. member
Activity: 392
Merit: 250
dump time Sad

1 Million USD worth of shorts got closed on finex:



I like seeing these closed at low prices

Agreed. Bulls cutting margin risk after GBTC landed without a jump. Much better than them going up to counter significant real selling pressure.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
donator
Activity: 2772
Merit: 1019
dump time Sad

1 Million USD worth of shorts got closed on finex:



I like seeing these closed at low prices
donator
Activity: 2772
Merit: 1019
From the 2014 Annual Report published last month:

Quote
Authorized Participants who make deposits of bitcoins with the Trust in exchange for Creation
Baskets receive no fees, commissions or other form of compensation or inducement of any kind
from either the Sponsor or the Trust. No Authorized Participant has any obligation or
responsibility to the Sponsor or the Trust to affect any sale or resale of Shares. Authorized
Participants may realize significant profits buying, selling, creating and redeeming Shares as a
result of changes in the value of Shares or bitcoins. In particular, an Authorized Participant may
profit from the “spread” (or difference) between the prices at which it purchases and sells Shares
and bitcoins (or obtains Shares or bitcoins through the creation and redemption of Baskets). For
example, when creating Shares, an Authorized Participant may deposit bitcoins with the Trust that
it has acquired at a price that is lower than the current Bitcoin Market Price and thus receive Shares
with a value greater than the Authorized Participant’s cost of acquiring the deposited bitcoins.
Similarly, an Authorized Participant may sell Shares to a customer from its inventory at a price
higher than the Authorized Participant’s cost in acquiring such Shares. As another example, when
redeeming Shares, an Authorized Participant may receive bitcoins and then hold them for later
resale at a profit if the price of bitcoins increases. The frequent and significant fluctuations in the
price of bitcoins increases the extent to which an Authorized Participant may profit from its
transactions in Shares and bitcoins. As of the date of this Annual Report, the only Authorized
Participant is SecondMarket, Inc., an affiliate of the Sponsor.

Sponsor
Grayscale Investments LLC

Custodian
SecondMarket Holdings

The Only Current Authorized Participant
SecondMarket, Inc

The main question for me: Is it is possible for SecondMarket, Inc to receive creation baskets of shares and place them for sale on the OTC market without the 12 month lockup?

If yes, SecondMarket could quickly arbitrage the OTC share price closer to the NAV of the trust while providing liquidity that the OTC share needs at this point.

If no, the ask supply of the OTC share will be completely dependent on 12 month aged shares from individual investors. Meaning very low volume and little impact on the bitcoin market in general, at least for the reasonably near future.

Care to comment Barry?
I won't hold my breath.

I second this question.

EDIT: in fact I forwarded it on a medium Barry might listen on:

sr. member
Activity: 367
Merit: 250
sr. member
Activity: 392
Merit: 250
Looks like the recent dumpage kicked off on okcoin, finex reacting strongly.

legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
Holy high volume dump on BFX  Shocked



It would be silly to think our beloved bear whale would go down without a fight  Grin

Hope she blows soon  Grin

legendary
Activity: 1159
Merit: 1001
legendary
Activity: 1442
Merit: 1188
Classic Bear Grylls trap.

legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 896
Merit: 1000
Holy high volume dump on BFX  Shocked

legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
From what I've read the last few pages, I'm leaning on that no one knows what's going on here, sorry. Almost no volume at high levels is going on, a few buying chump shares at high prices means nothing yet.

Was that dump you?

Please don't do that. It hurts in my qr code.
legendary
Activity: 1568
Merit: 1001
From what I've read the last few pages, I'm leaning on that no one knows what's going on here, sorry. Almost no volume at high levels is going on, a few buying chump shares at high prices means nothing yet.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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