What if Winklevoss' bitcoin ETF would be the same as Barry Silbert's GBTC

backb

newbie

Activity: 12

Merit: 0

Quote from: phoenix1 on April 09, 2015, 01:15:08 AM

Quote from: jehst on April 08, 2015, 10:47:07 PM

I've just received word from one of the shareholders.

Continental Stock Transfer & Trust, the company responsible for transferring the shares, needs an additional two weeks to verify share ownership and draft the ownership documents.

LMAO!!

Apparently they are concerned that if they launch now, some early investors may exit with a profit, so they are delaying until price is lower Cheesy

backb

newbie

Activity: 12

Merit: 0

Quote from: ensurance982 on April 07, 2015, 12:49:14 PM

Quote from: mrhelpful on April 07, 2015, 12:46:51 PM

Well if they are already pretty rich off facebooks pay off, why would they sell their ETF`s off?

It doesnt make sense, esp, when they are already mega rich and they dont put down only a small portion of their money into their own exchange and the ETF creation they trying to do both at the same time.

It seems more they want to dominate this space, so they have the ability to do both exits when they choose to do so.

Exactly. If they're doing this, they'll make sure to do this right and not cave in at the first signs of trouble or prices not going to the moon immediately. Cutting ones' losses doesn't make any sense in this case...

The reason the ETF would be created is to dump their shares (bagholding coins), it's just this simple.

Regarding the joke of GBTC's forever excuses:

Quote from: BitAddict on April 07, 2015, 01:25:58 PM

Quote from: Fabrizio89 on April 07, 2015, 11:02:52 AM

They said it should start this week?

Yes, like the two previous weeks.

http://cdn.meme.am/images/8373718.jpg

ensurance982

hero member

Activity: 518

Merit: 500

Trust me!

Quote from: mrhelpful on April 07, 2015, 12:46:51 PM

Well if they are already pretty rich off facebooks pay off, why would they sell their ETF`s off?

It doesnt make sense, esp, when they are already mega rich and they dont put down only a small portion of their money into their own exchange and the ETF creation they trying to do both at the same time.

It seems more they want to dominate this space, so they have the ability to do both exits when they choose to do so.

Exactly. If they're doing this, they'll make sure to do this right and not cave in at the first signs of trouble or prices not going to the moon immediately. Cutting ones' losses doesn't make any sense in this case...

mrhelpful

legendary

Activity: 1456

Merit: 1002

Well if they are already pretty rich off facebooks pay off, why would they sell their ETF`s off?

It doesnt make sense, esp, when they are already mega rich and they dont put down only a small portion of their money into their own exchange and the ETF creation they trying to do both at the same time.

It seems more they want to dominate this space, so they have the ability to do both exits when they choose to do so.

ensurance982

hero member

Activity: 518

Merit: 500

Trust me!

Why would they go and sell their big stashes they managed to buy over time??? If they're going as far as opening an ETF, I bet they really believe in BTC in the long term. They won't really care for that little profit (or loss currently, actually) Bitcoin gives them right now. They will want to wait.

ravenjt

full member

Activity: 215

Merit: 100

The Winklevoss pair seem to be focusing now on being z-list celebs...
http://pagesix.com/2015/03/23/cameron-winklevoss-shows-off-his-brazilian-model-girlfriend/

Perhaps ETF regulation got boring.

However, other news suggests things are not going so well, as they are having to rent out their plush pad...
http://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-winklevoss-twins-20150323-story.html

Do you people ever worry that your idols are not going to produce the goods?

ebruwifxnx

full member

Activity: 156

Merit: 100

It wont end up the same as Gbtc. The real fear is that the law never becomes clearly defined and it is never approved/never launches. Winklevoss already made it very clear they wont go forward without regulatory acceptance. Worst case scenario is we stay in this stalemate we have had for the last year or so.

futureofbitcoin

sr. member

Activity: 322

Merit: 250

Quote from: backb on April 05, 2015, 02:45:14 PM

Quote from: inca on April 05, 2015, 02:40:08 PM

Quote from: backb on April 05, 2015, 02:30:21 PM

What if Winklevoss Twins' bitcoin ETF (NASDAQ) would be the same as GBTC (Barry Silbert's Bitcoin Investment Trust, OTCMKTS):

1: NO trades two weeks after official launch, unlikely for ETF, because Winklevoss Twins can't wait to sell their bags (1 million shares = 100k bitcoins), so there would be sell orders soon as ETF goes live!

2: The ETF will only got less than total 75 bitcoins buy orders like GBTC does (GBTC only has 750 shares bid list = 75 btc demand http://www.otcmarkets.com/stock/GBTC/quote).

If thing comes out like this, does it mean neither wall street nor average joe is waiting to get in and in fact nobody care about bitcoin?

Why don't you ask hypothetical trolling questions with your main account instead of using a throwaway?

No offtopic bullshit talks, please answer the question itself.
Is "wall street or average joe can't wait to get in" a lie?

I won't comment on whether it's "a lie" or not. But to use a hypothetical question to arrive at a possible answer is just moronic. Seriously, you can do better than that. There are tons of logically sound reasons why the ETF might not succeed. There are tons of logically sound reasons why bitcoin will not succeed.

Instead, you choose such a logically flawed question.

inca

legendary

Activity: 1176

Merit: 1000

Quote from: Xiaoxiao on April 05, 2015, 07:42:52 PM

Quote from: inca on April 05, 2015, 07:35:40 PM

The COIN etf if approved opens up btc investment to a multi trillion dollar capital pool. It allows non accredited investors to buy in using a tax efficient wrapper.

It will be potentially be the most incredible surge in the history of bitcoin.

Final Fantasy 15

Not really. The entire 100k coins could be bought for 26 million USD. A laughable amount of funds in a sea of US capital reserves. Any further coins need to be bought from the market.

If you cannot imagine a scenario where a few hundred million dollars of investment capital chase a rising btc price then I will enjoy it for myself.

It is a fantasy until the ETF is approved. But it could rapidly become a reality. And it will be front run by those in the know.

Xiaoxiao

legendary

Activity: 1274

Merit: 1000

The Golden Rule Rules

Quote from: inca on April 05, 2015, 07:35:40 PM

The COIN etf if approved opens up btc investment to a multi trillion dollar capital pool. It allows non accredited investors to buy in using a tax efficient wrapper.

It will be potentially be the most incredible surge in the history of bitcoin.

Final Fantasy 15

inca

legendary

Activity: 1176

Merit: 1000

The COIN etf if approved opens up btc investment to a multi trillion dollar capital pool. It allows non accredited investors to buy in using a tax efficient wrapper.

It will be potentially be the most incredible surge in the history of bitcoin.

pleaseexplain

member

Activity: 73

Merit: 10

Quote from: gentlemand on April 05, 2015, 07:15:48 PM

Quote from: pleaseexplain on April 05, 2015, 07:08:27 PM

its slightly off topic but I am confused when people say bitcoin will take off in price when we get the twins etf and exchange.

I can understand the exchange part ie a more trusted/secure/like a normal exchange will bring in more people though i am not sure the volumes will be great in the short term to move the price much. But it may.

however on the etf - is it not standalone? ie fiat being risked on bitcoin movements with out it being turned into bitcoin? It may help recognition/exposure of bitcoin etc but cannot see how it would significantly move the price even if its more popular then GBTC.

what am I missing here?

I guess the primary sell is that it makes bitcoin safely accessible and that opens up a huge amount of extra possible investment.

There are a ton of professional financiers who would be bound by rules to only invest in properly approved funds. It also means private investors can put money in through brokers and tax free channels, the ones they're already comfortable using.

If you're intrigued by the idea, you might throw half a per cent of your stash at it through a fund. The idea of dicking around with wallets and cold storage is definitely not going to turn most people on.

hi thanks understand now. it might then also in a year or two sort out one way or another to some extent several debates that rage on this forum eg does bitcoin have any store of value? will altcoins disappear?

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: pleaseexplain on April 05, 2015, 07:08:27 PM

its slightly off topic but I am confused when people say bitcoin will take off in price when we get the twins etf and exchange.

I can understand the exchange part ie a more trusted/secure/like a normal exchange will bring in more people though i am not sure the volumes will be great in the short term to move the price much. But it may.

however on the etf - is it not standalone? ie fiat being risked on bitcoin movements with out it being turned into bitcoin? It may help recognition/exposure of bitcoin etc but cannot see how it would significantly move the price even if its more popular then GBTC.

what am I missing here?

I guess the primary sell is that it makes bitcoin safely accessible and that opens up a huge amount of extra possible investment.

There are a ton of professional financiers who would be bound by rules to only invest in properly approved funds. It also means private investors can put money in through brokers and tax free channels, the ones they're already comfortable using.

If you're intrigued by the idea, you might throw half a per cent of your stash at it through a fund. The idea of dicking around with wallets and cold storage is definitely not going to turn most people on.

pleaseexplain

member

Activity: 73

Merit: 10

its slightly off topic but I am confused when people say bitcoin will take off in price when we get the twins etf and exchange.

I can understand the exchange part ie a more trusted/secure/like a normal exchange will bring in more people though i am not sure the volumes will be great in the short term to move the price much. But it may.

however on the etf - is it not standalone? ie fiat being risked on bitcoin movements with out it being turned into bitcoin? It may help recognition/exposure of bitcoin etc but cannot see how it would significantly move the price even if its more popular then GBTC.

what am I missing here?

travwill

sr. member

Activity: 1313

Merit: 278

Trading isn't even expected until the week of 4/6 - it isn't late or inactive yet. There will be trades on day one. Orders can be created it seems but are not routing yet according to my corporate system.

NotHatinJustTrollin

full member

Activity: 462

Merit: 107

★Bitvest.io★ Play Plinko or Invest!

Quote from: brg444 on April 05, 2015, 03:18:25 PM

Quote from: backb on April 05, 2015, 03:10:45 PM

Quote from: brg444 on April 05, 2015, 03:06:12 PM

1. GBTC holders are still unable to access their shares from their trading account thus the absence of any trade so far.

2. There are no buy orders because there are no sell orders. Supply creates demand.

1: Why? 12 months has already passed.
2: NO, There are 6 bids for total 750 shares (less than 75 bitcoins), i guess that's all demands it has

1.

Quote

All that's left is for BIT shares (which trade at ticker symbol "GBTC") to be moved into shareholders' brokerage accounts, a process that should be finished by next week, and "then it's up to them if they will sell," Silbert said.

http://www.cnbc.com/id/102549768

It's a new security. The shares have simply not been credited to their owners trading account yet.

2. What part of supply creates demand did you not understand. Maybe people are just not interested in placing blind orders before shares are even put on the market.

Aight.

We'll see how many bids will there be "next week" Cheesy

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: HeliKopterBen on April 05, 2015, 03:45:12 PM

Buyers are placing bids and 40% above market and the trolls are actually trying to convince people that is bearish. It's probably about time for liftoff.

Imagine just ONE of them gets filled at 350$

HeliKopterBen

hero member

Activity: 622

Merit: 500

Buyers are placing bids and 40% above market and the trolls are actually trying to convince people that is bearish. It's probably about time for liftoff.

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

Quote from: backb on April 05, 2015, 03:10:45 PM

Quote from: brg444 on April 05, 2015, 03:06:12 PM

1. GBTC holders are still unable to access their shares from their trading account thus the absence of any trade so far.

2. There are no buy orders because there are no sell orders. Supply creates demand.

1: Why? 12 months has already passed.
2: NO, There are 6 bids for total 750 shares (less than 75 bitcoins), i guess that's all demands it has

1.

Quote

All that's left is for BIT shares (which trade at ticker symbol "GBTC") to be moved into shareholders' brokerage accounts, a process that should be finished by next week, and "then it's up to them if they will sell," Silbert said.

http://www.cnbc.com/id/102549768

It's a new security. The shares have simply not been credited to their owners trading account yet.

2. What part of supply creates demand did you not understand. Maybe people are just not interested in placing blind orders before shares are even put on the market.

backb

newbie

Activity: 12

Merit: 0

Quote from: brg444 on April 05, 2015, 03:06:12 PM

1. GBTC holders are still unable to access their shares from their trading account thus the absence of any trade so far.

2. There are no buy orders because there are no sell orders. Supply creates demand.

1: Why? 12 months has already passed.
2: NO, There are 6 bids for total 750 shares (less than 75 bitcoins), i guess that's all demands it has

Topic: What if Winklevoss' bitcoin ETF would be the same as Barry Silbert's GBTC (Read 2041 times)