Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17669.

JimboToronto

legendary

Activity: 4242

Merit: 5039

You're never too old to think young.

Good morning Bitcoinland.

I see things haven't changed much since I went back to bed... $1226USD (Bitcoinaverage).

It's gone back to pretty much sideways after the crazy spikes up and down 3 hours ago.

I haven't mentioned coffee in months but I think I need a cup now. This could be a long day.

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: PoolMinor on March 10, 2017, 11:20:27 AM

Math is hard.....

Yes it is.

PoolMinor

legendary

Activity: 1844

Merit: 1338

XXXVII Fnord is toast without bread

Quote from: gentlemand on March 10, 2017, 10:30:44 AM

Quote from: kurious on March 10, 2017, 10:28:48 AM

I thought if that much money comes into the ETF they have to buy more BTC to balance the fund's assets with the underlying commodity

They have shares in 108,000 coins to sell first. That's worth considerably more than $300 million. The day when they have to market buy will come but it could be a long time away yet, especially if the price keeps on rising.

Math is hard.....
108,000 * $1200 = $129.6 million.

Edit:
http://www.wolframalpha.com/input/?i=108000*1200

Torque

legendary

Activity: 3794

Merit: 5474

Above Gold again. For the third time this year. Ha. Hah. Hee..ha.. urm ...^ha

So HAH!

HanvanBitcoin

full member

Activity: 308

Merit: 100

Quote from: BitcoinBA on March 10, 2017, 11:07:29 AM

Hi guys,

What is the official source of information about ETF result?

How will you find out?

Thanks...

Im checking these:

https://twitter.com/sec_news

https://www.sec.gov/news/pressreleases

BitcoinBA

member

Activity: 74

Merit: 10

Hi guys,

What is the official source of information about ETF result?

How will you find out?

Thanks...

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: DieJohnny on March 10, 2017, 10:34:01 AM

How does this ETF work? I thought there are fixed shares backed by fixed coins so there is no pressure on the overall bitcoin market, just a way to own coins via a third party.

That's the idea, but they have the option to buy more coins to back more shares if people want more. I assume that's one of the main reasons why they created Gemini.

I remember reading their original application where they went into the details of the exchange options. 'Well, there's Bitstamp in Slovenia, that isn't regulated. There's BTC-e in, um, somewhere, and no one knows who runs it. Err...'

There will of course be people selling their shares too. It's quite possible it'll always be a totally self contained market that never needs a Bitcoin market buy.

DieJohnny

legendary

Activity: 1639

Merit: 1006

Quote from: gentlemand on March 10, 2017, 10:30:44 AM

Quote from: kurious on March 10, 2017, 10:28:48 AM

I thought if that much money comes into the ETF they have to buy more BTC to balance the fund's assets with the underlying commodity

They have shares in 108,000 coins to sell first. That's worth considerably more than $300 million. The day when they have to market buy will come but it could be a long time away yet, especially if the price keeps on rising.

How does this ETF work? I thought there are fixed shares backed by fixed coins so there is no pressure on the overall bitcoin market, just a way to own coins via a third party.

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: kurious on March 10, 2017, 10:28:48 AM

I thought if that much money comes into the ETF they have to buy more BTC to balance the fund's assets with the underlying commodity

They have shares in 108,000 coins to sell first. That's worth considerably more than $300 million. The day when they have to market buy will come but it could be a long time away yet, especially if the price keeps on rising.

GreekGeek

hero member

Activity: 577

Merit: 500

Jesus was a (Goddamn) hippy socialist

to whoever did this flash up and down
thanx for all the cheap fiat
I will try to catch the knife on Monday

Cool

kurious

legendary

Activity: 2604

Merit: 1748

Quote from: gentlemand on March 10, 2017, 10:16:12 AM

Quote from: HI-TEC99 on March 10, 2017, 10:12:51 AM

Reading this thread seems to be one of the best ways of finding out what's going on. I noticed a day after someone posts some news here story's about it start appearing on the crypto news websites. It's almost as if their author's read the latest news in this thread, then write an article about it.

In general I find Reddit far, far more news savvy than here. There are often lengthy threads there on subjects that haven't even been mentioned anywhere on here yet. This one bit of news though won't be slipping by.

Quote from: kurious on March 10, 2017, 10:14:00 AM

Plus volume is just noise a lot of the time - $300 million coming along to BUY is another story entirely....

Who came up with this figure and who are they? If it's 300 million going into ETFs then that's money that never sees this market. If it's 300 million of professional speculator money looking to join in, professional speculators don't initiate pumps. They prey on them.

I thought if that much money comes into the ETF they have to buy more BTC to balance the fund's assets with the underlying commodity

promomei

sr. member

Activity: 399

Merit: 254

Quote from: york780 on March 10, 2017, 10:23:35 AM

10 k at the end of the year. All non believers will be destroyed.

when Btc hits 21 mil coins - maybe 10 but noooo Roll Eyes

blockcha1n

full member

Activity: 185

Merit: 100

Quote from: ?? on ??

If the ETF gets approved what kind of immediate pop are we looking at, $100, $200, $300?

Back down the rabbit hole we go. Cry

GGALINff

full member

Activity: 219

Merit: 100

gotta think Winklevoss is handling initial demand for shares with their own BTC
I forget, did it say in the filing the initial amount of shares?

york780

sr. member

Activity: 392

Merit: 250

10 k at the end of the year. All non believers will be destroyed.

jhelyn

newbie

Activity: 31

Merit: 0

First time that I've seen how fast it can fall and rise then fall again in a matter of hours.
Gosh I still bought at a higher price Grin

Gotta hold it for while Wink

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: HI-TEC99 on March 10, 2017, 10:12:51 AM

Reading this thread seems to be one of the best ways of finding out what's going on. I noticed a day after someone posts some news here story's about it start appearing on the crypto news websites. It's almost as if their author's read the latest news in this thread, then write an article about it.

In general I find Reddit far, far more news savvy than here. There are often lengthy threads there on subjects that haven't even been mentioned anywhere on here yet. This one bit of news though won't be slipping by.

Quote from: kurious on March 10, 2017, 10:14:00 AM

Plus volume is just noise a lot of the time - $300 million coming along to BUY is another story entirely....

Who came up with this figure and who are they? If it's 300 million going into ETFs then that's money that never sees this market. If it's 300 million of professional speculator money looking to join in, professional speculators don't initiate pumps. They prey on them.

york780

sr. member

Activity: 392

Merit: 250

300 mln a week = 3 000 000 : 1183 = 2536 btc extra per week --> this means 8.6 % GROWTH EXTRA PER WEEK Ad people still saying that ETF isnt a big deal. ETF aproved = every holder with at least 5 btc is rich af.

kurious

legendary

Activity: 2604

Merit: 1748

Quote from: becoin on March 10, 2017, 08:30:13 AM

I was wrong. It's gone up more than 5%. But hey, its up. I'm happy I was wrong. Lets see if there will be profit taking from the insiders?

Yep in a nimute - with 5,000 BTC on stamp.

Now imagine that $300 million.... And Just so you know - the 20 billion is based on ALL THE COINS at the current price. But all the coins are NOT on the market.

They aren't - a percentage is. If 5,000 BTC can do that 5% move you didn't think possible - what do you think even the rumour of $300 million 'coming soon' would do?

Plus volume is just noise a lot of the time - $300 million coming along to BUY is another story entirely....

spooderman

legendary

Activity: 1680

Merit: 1045

Quote from: HI-TEC99 on March 10, 2017, 10:12:51 AM

Quote from: LFC_Bitcoin on March 10, 2017, 09:52:50 AM

Reading this thread seems to be one of the best ways of finding out what's going on. I noticed a day after someone posts some news here story's about it start appearing on the crypto news websites. It's almost as if their author's read the latest news in this thread, then write an article about it.

like what? i haven't noticed that tbh. tragically i think i've read about 75% of this entire thread.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17669. (Read 26714748 times)