Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33127.

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legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: BitcoinAshley on July 01, 2013, 06:08:02 PM

Quote from: phoenix1 on July 01, 2013, 06:04:25 PM

Quote from: N12 on July 01, 2013, 05:54:10 PM

Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers 2.0? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm

So they're bailing out ... now ... that should really help with confidence Roll Eyes

You misread.
http://blogs.wsj.com/moneybeat/2013/07/01/winklevoss-twins-file-to-launch-bitcoin-exchange-traded-product/
They are not "bailing out," they are offering shares of an ETF based on bitcoins. Not quite the same thing. In fact this is good for bitcoin as it could attract more institutional investors who want to be able to participate in Bitcoin on traditional markets. This is something they can understand and trust. Good old winkii twins; they've got our back.

You mean they're watching their backs. lol

Kazu

full member

Activity: 168

Merit: 100

Quote from: champbronc2 on July 01, 2013, 06:07:38 PM

Quote from: N12 on July 01, 2013, 05:54:10 PM

Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers 2.0? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm

Someone wanna explain the implications?

Idk, I guess they trying to allow people to buy a share of their bitcoins?

The good news: Its essentially allowing bitcoins to be traded on the NYSE (or wherever they list the shares of their trust).

The bad news: The winklevoss twins are effectively selling 200k bitcoins, albeit to an audience that doesn't contribute to the market depth on normal bitcoin exchanges.

Whether or not Winklevoss dudes want to buy Bitcoins with the proceeds, it WILL effectively allow bitcoins to be traded as people can simply arbitrage between the value of the shares and the value of actual bitcoins. If the price differs too much somebody is getting screwed.

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Quote from: BitcoinAshley on July 01, 2013, 06:08:02 PM

Quote from: phoenix1 on July 01, 2013, 06:04:25 PM

Quote from: N12 on July 01, 2013, 05:54:10 PM

Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers 2.0? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm

So they're bailing out ... now ... that should really help with confidence Roll Eyes

You misread.
http://blogs.wsj.com/moneybeat/2013/07/01/winklevoss-twins-file-to-launch-bitcoin-exchange-traded-product/
They are not "bailing out," they are offering shares of an ETF based on bitcoins. Not quite the same thing. In fact this is good for bitcoin as it could attract more institutional investors who want to be able to participate in Bitcoin on traditional markets. This is something they can understand and trust. Good old winkii twins; they've got our back.

Depends on whether they intend to buy new bitcoins with the proceeds. If not, its an ask of 200k bitcoins. If yes, then indeed, this might be something big investors are interested in, and it could increase money coming into bitcoin.

derpinheimer

legendary

Activity: 896

Merit: 1000

1.25k buys on bitstamp and mtgox? Weird. Almost at the same time.

Bitstamp just lost like all of its ask depth xD

hmmmstrange

hero member

Activity: 669

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Market Cap based on latest prices 994,936,710 USD

BitcoinAshley

sr. member

Activity: 448

Merit: 250

Quote from: phoenix1 on July 01, 2013, 06:04:25 PM

Quote from: N12 on July 01, 2013, 05:54:10 PM

Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers 2.0? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm

So they're bailing out ... now ... that should really help with confidence Roll Eyes

You misread.
http://blogs.wsj.com/moneybeat/2013/07/01/winklevoss-twins-file-to-launch-bitcoin-exchange-traded-product/
They are not "bailing out," they are offering shares of an ETF based on bitcoins. Not quite the same thing. In fact this is good for bitcoin as it could attract more institutional investors who want to be able to participate in Bitcoin on traditional markets. This is something they can understand and trust. Good old winkii twins; they've got our back.

alxs

full member

Activity: 169

Merit: 100