Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22108.

Specular

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Quote from: kaeste on April 07, 2015, 01:04:03 PM

Can you guys exactly tell me what is GBTC, and how it's working?

http://www.otcmarkets.com/stock/GBTC/quote

GBTC is going to be the world's first publicly traded Bitcoin fund. Barry Silbert launched this thing in 2013 and they found a sneaky backdoor to putting a "Bitcoin fund" on a public exchange by publicly selling shares that have been held for 12+ months on an "Over the counter" market (not a top-tier one such as NYSE or NASDAQ). It is not officially an ETF (which is what the Winkle Twins are going for on NASDAQ), but it functions in much in the same way (with pretty hefty fees might I add). Effectively, each GBTC share is worth 0.1 Bitcoins, and it is set to start trading sometime this week, or so we are led to believe by Barry Silbert's Twitter account.

http://pando.com/2015/03/02/barry-silberts-bit-wins-the-race-to-become-the-first-publicly-traded-bitcoin-investment-vehicle/

adamstgBit

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http://arstechnica.com/business/2015/04/bitcoin-foundation-is-effectively-bankrupt-board-member-says/

Quote

The organization was founded in 2012 by a number of Bitcoin luminaries who have since fallen, and the group itself has been marred by controversy in recent months. Of its original five founders, one is now in prison (Charlie Shrem), another oversaw the collapse of the largest Bitcoin exchange (Mark Karpeles), and yet another has since left the United States for a Caribbean nation known for offshore banking (Roger Ver). Of the original board members, only Bitcoin lead developer Gavin Andresen has remained.

LMAO

Dump3er

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Quote from: ?? on ??

Quote from: Dump3er on April 07, 2015, 01:15:45 PM

Quote from: ?? on ??

Can I short it? Nothing against Leocoin, but I only short - I short all kind of things, always. If I can't short a thing it doesn't make me happy Angry

It is scientifically impossible to short LEOCoin, due to its mathematically advanced algorithm protocol. It's Crypto 2.0.

Wow, that sounds like the wet dream of hodlers. You can't short it, you can't sell it while it keeps rising in value (at least on paper) - this coin could attract a lot of Bitcoin cultists.

I Love LEOcoins

I know.

Dump3er

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Can I short it? Nothing against Leocoin, but I only short - I short all kind of things, always. If I can't short a thing it doesn't make me happy Angry

It is scientifically impossible to short LEOCoin, due to its mathematically advanced algorithm protocol. It's Crypto 2.0.

Wow, that sounds like the wet dream of hodlers. You can't short it, you can't sell it while it keeps rising in value (at least on paper) - this coin could attract a lot of Bitcoin cultists.

ensurance982

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Quote from: tomothy on April 07, 2015, 01:02:06 PM

SO, hypothetically;

There could be a premium for having funds invested in a licensed OTC Market. You don't have to deal with securing your coins yet you still are screwed if the trusts coins get taken... I guess it could be more palatable to investors to understand how their funds were invested. (In the GBTC units not in some shadowy exchange). I'm assuming there could also be some sort of tax benefits for investment avenues, ira's/roths/etc? But ultimately, coins could be so much cheaper bought on the open market. Is there really enough of a premium to be getting shares in the GBTC vs some thing like coinbase?

I think we will go sideways until Bitlicense is implemented and then all hell will break free. NY Ip's all get banned; DHS seizes Btc-e and Cryptsy. Then Wallstreet rolls in with their licensed ivory towers and gated communities. /Popcorn. Am I overestimating the possible impact of NY regulations? I just see it as both a significant impediment and tipping point. Thoughts?

Ha, well that's effectively the business model of GBTC, if I understand them and you correctly. I mean, they're buying and holding the coins for you - something we don't fancy, because we want to hold our coins ourselves - but hey, you can invest in that new fancy Bitcoin-thingy by regular means. And it's insured - that's what people want.

sporket

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Quote from: kaeste on April 07, 2015, 01:04:03 PM

Can you guys exactly tell me what is GBTC, and how it's working?

I think some toxic floor cleaner is used as a precursor & you can get girls to have sex with you if you put some in their drink.
I could be thinking of something else tho.

Edit @hdbuck: mediocre minds think alike.

hdbuck

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Quote from: kaeste on April 07, 2015, 01:04:03 PM

Can you guys exactly tell me what is GBTC, and how it's working?

kaeste

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Can you guys exactly tell me what is GBTC, and how it's working?

tomothy

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Quote from: ensurance982 on April 07, 2015, 12:51:29 PM

Quote from: Norway on April 07, 2015, 12:48:36 PM

Quote from: ensurance982 on April 07, 2015, 12:41:53 PM

I really don't get why anyone would want to sell their GBTC coins at current prices, to be honest... I mean they all bought in at higher prices and they are obviously investors who aren't in for the daily fluctuations, thus they most likely can afford to wait, as well.

The only reason I can see is a good arbitrage opportunity Wink

Yeah, well... It's a one-way arbitrage to be honest... They'd be out of the GBTC system and into the regular coins. They might prefer staying in that ecosystem for some reason or just don't want to go through all that hassle for 10%...
If anything, this is bullish... Can't see anything bearish about it, really...

SO, hypothetically;

There could be a premium for having funds invested in a licensed OTC Market. You don't have to deal with securing your coins yet you still are screwed if the trusts coins get taken... I guess it could be more palatable to investors to understand how their funds were invested. (In the GBTC units not in some shadowy exchange). I'm assuming there could also be some sort of tax benefits for investment avenues, ira's/roths/etc? But ultimately, coins could be so much cheaper bought on the open market. Is there really enough of a premium to be getting shares in the GBTC vs some thing like coinbase?

I think we will go sideways until Bitlicense is implemented and then all hell will break free. NY Ip's all get banned; DHS seizes Btc-e and Cryptsy. Then Wallstreet rolls in with their licensed ivory towers and gated communities. /Popcorn. Am I overestimating the possible impact of NY regulations? I just see it as both a significant impediment and tipping point. Thoughts?

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Coin

Explanation

Norway

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Quote from: ensurance982 on April 07, 2015, 12:51:29 PM

Quote from: Norway on April 07, 2015, 12:48:36 PM

Quote from: ensurance982 on April 07, 2015, 12:41:53 PM

I really don't get why anyone would want to sell their GBTC coins at current prices, to be honest... I mean they all bought in at higher prices and they are obviously investors who aren't in for the daily fluctuations, thus they most likely can afford to wait, as well.

The only reason I can see is a good arbitrage opportunity Wink

Yeah, well... It's a one-way arbitrage to be honest... They'd be out of the GBTC system and into the regular coins. They might prefer staying in that ecosystem for some reason or just don't want to go through all that hassle for 10%...
If anything, this is bullish... Can't see anything bearish about it, really...

They don't really have to get out of the system. They can just get new and fresh issued BIT stocks. (And the current arbitrage is 40%.)

ensurance982

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Quote from: ?? on ??

Can I short it? Nothing against Leocoin, but I only short - I short all kind of things, always. If I can't short a thing it doesn't make me happy Angry

Ha, awesome! It makes most sense to short those things that are supposedly those that make the least sense. Sort of the most contrarian investing there is Cheesy

On leverage???

ensurance982

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Quote from: Norway on April 07, 2015, 12:48:36 PM

Quote from: ensurance982 on April 07, 2015, 12:41:53 PM

I really don't get why anyone would want to sell their GBTC coins at current prices, to be honest... I mean they all bought in at higher prices and they are obviously investors who aren't in for the daily fluctuations, thus they most likely can afford to wait, as well.

The only reason I can see is a good arbitrage opportunity Wink

Yeah, well... It's a one-way arbitrage to be honest... They'd be out of the GBTC system and into the regular coins. They might prefer staying in that ecosystem for some reason or just don't want to go through all that hassle for 10%...
If anything, this is bullish... Can't see anything bearish about it, really...

Norway

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Quote from: ensurance982 on April 07, 2015, 12:41:53 PM

I really don't get why anyone would want to sell their GBTC coins at current prices, to be honest... I mean they all bought in at higher prices and they are obviously investors who aren't in for the daily fluctuations, thus they most likely can afford to wait, as well.

The only reason I can see is a good arbitrage opportunity Wink

ensurance982

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Trust me!

I really don't get why anyone would want to sell their GBTC coins at current prices, to be honest... I mean they all bought in at higher prices and they are obviously investors who aren't in for the daily fluctuations, thus they most likely can afford to wait, as well.

damiano

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103 days, 21 hours and 10 minutes.

Quote from: ?? on ??

Quote from: Anotherthing on April 07, 2015, 12:07:04 PM

Quote from: adamstgBit on April 07, 2015, 12:02:48 PM

stabilizing at 256 for a while would be cool.

And how am I supposed to gamble?

Buy LEOcoin

Lol

sporket

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Quote from: Norway on April 07, 2015, 12:29:25 PM

A new player (Maxim Group LLC) just entered GBTC @ 357.5 USD / bitcoin Wink

Need a tissue, bro?

Natalia_AnatolioPAMM

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Quote from: adamstgBit on April 07, 2015, 12:02:48 PM

stabilizing at 256 for a while would be cool.

unfortunately it's not highly possible

Norway

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A new player (Maxim Group LLC) just entered GBTC @ 357.5 USD / bitcoin Wink

bromide

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You know what happens when price stabilizes, Adam? THIS happens. The place goes dead.
Is this what you want?

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22108. (Read 26609460 times)