Even lower this time I presume. Operation Bubblepop in progress.
Alert: trader talking his position
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32412. (Read 26718832 times)
October 28, 2013, 04:46:05 PM
Alert: trader talking his position
October 28, 2013, 04:35:39 PM
What happens to Bitcoin when over 50% of it is owned by wealthy elites? Time to pump something else?
And as they move out, smaller players will move away from charts and start doing business with their bitcoins. Contraction of the bitcoin economy sows the seeds for the next expansion. Once things have settled out, the whales will return.
October 28, 2013, 04:31:45 PM
What happens to Bitcoin when over 50% of it is owned by wealthy elites? Time to pump something else?
October 28, 2013, 04:31:04 PM
I have a better question. Why do dozens of people on this forum who have never had any direct interaction with an ETF and no direct knowledge on the underlining motivations for starting and running one, have a fracking opinion they think is worth sharing on this forum?
I do know how ETF work. In fact my stock portfolio is almost only composed of ETFs (with two lines only, one from my country's stock exchange, one from the US one).
Quote
ETF = good for valuation of bitcoin. That is all anyone needs to know. So much freaking hot air in here. LOL
I agree. Most of people here don't understand this.
Yeah, I was not obviously referring to you.
Its actually funny, (although it annoys me when I am actually trying to find real-important-topic-related-info in a thread), how stupid so many of the bitcoin early adopters are. I mean, there is literally this unrefined, ignorant, idealistic, caveman like quality to so many of these early adopters. Bitcoin is entering a time where (HOPEFULLY!!!) more and more legitimate, well financed, regulated, structured 3rd wave Bitcoin companies, users and investors are going to enter the BTC universe. And eventually they will help drown out the noise.
I mean hats off to the non-authoritarian idealism that led to the birth and early propagation of bitcoin. But, man, evolution rules for a reason, and bitcoin is evolving into something potentially really special and massive. And its time, in my opinion, for this early adopter mentality to be replaced with a new type of visionary. I am happy to ride that wave.
Well said.
October 28, 2013, 04:29:56 PM
Did Gox lead that mini-dump?
Why do you care? All you do is come up with the most off the wall conspiratorial speculation on how a small group of secret underground bitcion elite control all the markets to their advantage and the sufferage of the rest of us.
At least when they are not doing their blood sacrifices, right? Or is it virgin burnings? I can't remember.
October 28, 2013, 04:27:46 PM
Did Gox lead that mini-dump?
That's like asking "Does the dog lead the tail or does the tail just follow the dog?"
October 28, 2013, 04:27:16 PM
I have a better question. Why do dozens of people on this forum who have never had any direct interaction with an ETF and no direct knowledge on the underlining motivations for starting and running one, have a fracking opinion they think is worth sharing on this forum?
I do know how ETF work. In fact my stock portfolio is almost only composed of ETFs (with two lines only, one from my country's stock exchange, one from the US one).
Quote
ETF = good for valuation of bitcoin. That is all anyone needs to know. So much freaking hot air in here. LOL
I agree. Most of people here don't understand this.
Yeah, I was not obviously referring to you.
Its actually funny, (although it annoys me when I am actually trying to find real-important-topic-related-info in a thread), how stupid so many of the bitcoin early adopters are. I mean, there is literally this unrefined, ignorant, idealistic, caveman like quality to so many of these early adopters. Bitcoin is entering a time where (HOPEFULLY!!!) more and more legitimate, well financed, regulated, structured 3rd wave Bitcoin companies, users and investors are going to enter the BTC universe. And eventually they will help drown out the noise.
I mean hats off to the non-authoritarian idealism that led to the birth and early propagation of bitcoin. But, man, evolution rules for a reason, and bitcoin is evolving into something potentially really special and massive. And its time, in my opinion, for this early adopter mentality to be replaced with a new type of visionary. I am happy to ride that wave.
October 28, 2013, 04:24:33 PM
Even lower this time I presume. Operation Bubblepop in progress.
LOLBubblepop?
That's the sound of champagne bottles opening in anticipation of the ATH.
October 28, 2013, 04:14:07 PM
Did Gox lead that mini-dump?
October 28, 2013, 04:11:39 PM
Even lower this time I presume. Operation Bubblepop in progress.
Beginnings of wave C?
October 28, 2013, 04:08:54 PM
Even lower this time I presume. Operation Bubblepop in progress.
October 28, 2013, 04:04:43 PM
Huh, Gox crashing 
.
. 
October 28, 2013, 04:02:21 PM
October 28, 2013, 03:46:38 PM
Why would the Winklevoss be selling their shares (granted, to other investors) if they're still "very bullish" on bitcoin? Wouldn't it obviously be in their interest to purchase more bitcoin for any other investors in the fund, since that would just drive the price up further anyway?
I have a better question. Why do dozens of people on this forum who have never had any direct interaction with an ETF and no direct knowledge on the underlining motivations for starting and running one, have a fracking opinion they think is worth sharing on this forum?
ETF = good for valuation of bitcoin. That is all anyone needs to know. So much freaking hot air in here. LOL
October 28, 2013, 03:38:41 PM
Why would the Winklevoss be selling their shares (granted, to other investors) if they're still "very bullish" on bitcoin? Wouldn't it obviously be in their interest to purchase more bitcoin for any other investors in the fund, since that would just drive the price up further anyway?
October 28, 2013, 03:02:44 PM
EDIT: I'm not sure what the above poster meant by "about to cash out." Filing or approval in no way means Winklevii will be selling any or all of 100k coins at market the instant they are approved. They have to own the coins that the shares represent. They don't get to just sell them when ETF is approved, that makes no sense and then they wouldn't have an ETF. They hold the coins as specified in the filling. As more investors pile in they'd have to purchase more coins. Or the opposite. You get the picture.
Rigth now they personnaly hold those coins.
Once the ETF is approved, they will give them to the ETF, and in return the ETF will issue shares to them.
At that moment they will be the only ones holding shares.
Then they will sell them on the market.
Therefore, cash out.
Edit : it doesn't mean a single coin has to be sold nor move. 100% of the coins will still belong to the ETF. Only them will have a little less ETF shares and a bit more dollars.
This assumes of course that the Winklevii choose to cash out, if they do not then the ETF will have to purchase BTC on the open market to back up the shares.
October 28, 2013, 03:02:17 PM
October 28, 2013, 02:17:56 PM
Buyer contacted me on localbitcoins for an in person meetup (probably tomorrow). I'm in a smaller town, so doesn't happen often (once like 6 months ago). He's been following the action and wants in. 
Word slowly getting out.. more media attention the better (and they'll be a ton if we bust through the ATH).
Word slowly getting out.. more media attention the better (and they'll be a ton if we bust through the ATH).
October 28, 2013, 02:10:11 PM
Engage seat belt.
That chart is lookin hurtin for a squirtin'.
That chart is lookin hurtin for a squirtin'.
October 28, 2013, 02:06:20 PM
When a Basket is redeemed, this often means that bitcoin will be delivered in redemption, however the trust reserves the right to pay out in fiat Dollars instead of bitcoin in the value of the bitcoin at the time of the redemption request.
In other words, they've left themselves room to sell more ownership in Bitcoins than they actually have, just like what happens with every other financial product.Wall Street wants a monopoly on this kind of fraud, so they make it a felony for everybody except themselves.
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