XBT Provider - page 2. | Bitcointalksearch.org

Chef Ramsay

legendary

Activity: 1568

Merit: 1001

Quote from: minerpumpkin on May 06, 2015, 09:15:36 AM

Quote from: Alley on May 05, 2015, 05:37:46 PM

GBTC has started trading with no affect on market price...yet. Only been 2 days. Next significant date seems to be may 18th when NASDAQ Stockholm begins trading xbt provider which says they will back all shares bought with bitcoin. Seems like this could have a much more immediate affect on price. Volume will also be waaaay higher to start.

GBTC can't influence the market, anyways. The volume is much too low in order to do that. First of all, it's more of a long-term asset, anyways, and secondly there aren't many people who are actually eligible to sell their shares. GBTC was created by using a "loophole", anyways. A real ETF that is buying coins on the open market will make things pretty interesting, I presume!

I think this opening phase of a few weeks or a few months is the predictable time to test the waters and let larger orders keep outbidding themselves and when the volume does pick up, by a few larger shareholders willing to sell some or all of what they hold, then they could take the shares they sold at 2,3,4,5x current bitcoin market price and start buying coins on the open market and drive the price up. So, I haven't seen the data about what the average shareholder holds in BIT but I'm sure that there's plenty of holders w/ the equivalent of 4 and 5 digits of bitcoins. If they're able to get 2,3,4,5x for their shares or more then they can do that much more damage while scooping up coins on the open market, perhaps.

minerpumpkin

hero member

Activity: 686

Merit: 500

A pumpkin mines 27 hours a night

Quote from: Alley on May 05, 2015, 05:37:46 PM

GBTC has started trading with no affect on market price...yet. Only been 2 days. Next significant date seems to be may 18th when NASDAQ Stockholm begins trading xbt provider which says they will back all shares bought with bitcoin. Seems like this could have a much more immediate affect on price. Volume will also be waaaay higher to start.

GBTC can't influence the market, anyways. The volume is much too low in order to do that. First of all, it's more of a long-term asset, anyways, and secondly there aren't many people who are actually eligible to sell their shares. GBTC was created by using a "loophole", anyways. A real ETF that is buying coins on the open market will make things pretty interesting, I presume!

gotmilk_

sr. member

Activity: 442

Merit: 250

Quote from: gentlemand on May 05, 2015, 08:20:09 PM

Quote from: Alley on May 05, 2015, 05:37:46 PM

GBTC has started trading with no affect on market price...yet. Only been 2 days. Next significant date seems to be may 18th when NASDAQ Stockholm begins trading xbt provider which says they will back all shares bought with bitcoin. Seems like this could have a much more immediate affect on price. Volume will also be waaaay higher to start.

It's been put together by KNCminer. That being the case there probably won't be much open market shenanigans. Pretty sweet deal for them.

If only a small % of money laying around flows into XBT Provider... KNCminer could run out of coins in a very short time. I believe KNCminer will provide only small portion of coins. It is probably not in their interest to sell at those prices.

coinableS

legendary

Activity: 1442

Merit: 1186

Quote from: Alley on May 06, 2015, 07:18:29 AM

GBTC has been trading for 2 days. Shares have went for a premium over market price. Demand outweighs supply. All asks are being bought. Most shareholders don't want to sell. Flop?

I was just about to post nearly the same thing regarding the "flop" comment. I can't see how you call GBTC a flop. There are buyers, just not very many sellers. GBTC isn't an ETF. If you are expecting high volume and frequent back and forth trades with GBTC you will be disappointed.

Alley

legendary

Activity: 910

Merit: 1000

GBTC has been trading for 2 days. Shares have went for a premium over market price. Demand outweighs supply. All asks are being bought. Most shareholders don't want to sell. Flop?

8up

hero member

Activity: 618

Merit: 500

Quote from: RyNinDaCleM on May 06, 2015, 12:33:12 AM

GBTC is setting up to be a giant flop. Can't even create a pump with low capital risk anymore. What has happened to Bitcoin?...

Priced in long before!?

RyNinDaCleM

legendary

Activity: 2408

Merit: 1009

Legen -wait for it- dary

Quote from: coinableS on May 05, 2015, 11:28:40 PM

Quote from: RyNinDaCleM on May 05, 2015, 07:57:53 PM

Quote from: Alley on May 05, 2015, 05:37:46 PM

GBTC has started trading with no affect on market price...yet. Only been 2 days. Next significant date seems to be may 18th when NASDAQ Stockholm begins trading xbt provider which says they will back all shares bought with bitcoin. Seems like this could have a much more immediate affect on price. Volume will also be waaaay higher to start.

Are you sure? Is there a source for this?

It'll be traded on NASDAQ Stockholm and there is no 12 month maturity date, so it will trade a lot closer to how an ETF would. I too suspect the volume should be greater than GBTC's. This is speculation, no source.

I agree that it *should* be higher, but will it? GBTC is setting up to be a giant flop. Can't even create a pump with low capital risk anymore. What has happened to Bitcoin?...

coinableS

legendary

Activity: 1442

Merit: 1186

Quote from: RyNinDaCleM on May 05, 2015, 07:57:53 PM

Quote from: Alley on May 05, 2015, 05:37:46 PM

GBTC has started trading with no affect on market price...yet. Only been 2 days. Next significant date seems to be may 18th when NASDAQ Stockholm begins trading xbt provider which says they will back all shares bought with bitcoin. Seems like this could have a much more immediate affect on price. Volume will also be waaaay higher to start.

Are you sure? Is there a source for this?

It'll be traded on NASDAQ Stockholm and there is no 12 month maturity date, so it will trade a lot closer to how an ETF would. I too suspect the volume should be greater than GBTC's. This is speculation, no source.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: Alley on May 05, 2015, 05:37:46 PM

GBTC has started trading with no affect on market price...yet. Only been 2 days. Next significant date seems to be may 18th when NASDAQ Stockholm begins trading xbt provider which says they will back all shares bought with bitcoin. Seems like this could have a much more immediate affect on price. Volume will also be waaaay higher to start.

It's been put together by KNCminer. That being the case there probably won't be much open market shenanigans. Pretty sweet deal for them.

Alley

legendary

Activity: 910

Merit: 1000

Buyers wont need to wait for asks. Shares will be available for market price. Right now on gbtc demand is higher then supply.

RyNinDaCleM

legendary

Activity: 2408

Merit: 1009

Legen -wait for it- dary

Quote from: Alley on May 05, 2015, 05:37:46 PM

GBTC has started trading with no affect on market price...yet. Only been 2 days. Next significant date seems to be may 18th when NASDAQ Stockholm begins trading xbt provider which says they will back all shares bought with bitcoin. Seems like this could have a much more immediate affect on price. Volume will also be waaaay higher to start.

Are you sure? Is there a source for this?

Alley

legendary

Activity: 910

Merit: 1000

GBTC has started trading with no affect on market price...yet. Only been 2 days. Next significant date seems to be may 18th when NASDAQ Stockholm begins trading xbt provider which says they will back all shares bought with bitcoin. Seems like this could have a much more immediate affect on price. Volume will also be waaaay higher to start.

Topic: XBT Provider - page 2. (Read 2366 times)