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Re: What if Winklevoss' bitcoin ETF would be the same as Barry Silbert's GBTC
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.
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
If I take it correctly, it is pretty easy: Either people are not willing to sell at this moment (hell, how can it be any more bullish than that?) or they just can't sell as of now and it still takes some time, then you can make exactly *zero* conclusions from the lack of trades occurring...
People trapped in the fund, at a loss, not willing to sell doesn't mean it is bullish. It only means they are bagholders. The more bagholders it has, the harder to go up.
I'm not saying it because there are 0 trades right now, which is obvious they couldn't send their shares there. I'm just saying my opinion of what I think is more likely to happen.
Is it not the case that some bought shares of BIT when price was around 100 and are not at a loss but a profit right now?
Do we have an estimate of what percentage of holders that might be?
Isn't the fund only around since late 2013? I mean sure there have still been lower prices, but right now we're approximately at the same levels with a chance for a turnaround. I wouldn't sell right now.
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.
Yes, very investors bought in Sep-Oct 2013 when BTC was cheaper than today. (The first ~18'000 BTC apparently were "seed" investment by the fund creators themselves.) Most investment occured between Nov/2013 and May/2014.
http://www.ic.unicamp.br/~stolfi/temp/2015-02-12-smbit-plot.jpg
[ click on plot for full version ]
BTW,, there are no "GBTC coins". Those are BIT shares; GBTC is just their ticker symbol on OTCQX, just as AAPL is the symbol for Apple shares on NYSE.
Updated with new bid from Maxim Group LLC today.
Code:
Maxim Group LLC 100 35.75
KCG Americas LLC 100 35.55
Canaccord Genuity Inc 100 35.51
Wedbush Securities Inc 100 31.50
Citadel Securities 143 25.00
Puma Capital, LLC 100 25.00
Merriman Curhan Ford & Co 100 20.00
KCG Americas LLC 100 35.55
Canaccord Genuity Inc 100 35.51
Wedbush Securities Inc 100 31.50
Citadel Securities 143 25.00
Puma Capital, LLC 100 25.00
Merriman Curhan Ford & Co 100 20.00
Wow a lot! That's total 743 shares !! 74 BTC bids !!!
Looks like some serious wall street rich guys are geting in and the massive adoption demand !
Time to cheat more greater fools to buy so you can dump your bags !
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
No way to see 300$ coins next 2 weeks. Maybe next 2 months...
more like sub $200 in next 2 weeks
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Some very big investment banks on the GBTC bid list. I wonder if they will try to short bitcoin to the ground when they get shares to play with. What do you think, guys?
wake up
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).
http://i.imgur.com/dh2qsBe.jpg
If thing comes out like this, does it mean neither wall street nor average joe (who invest with their retirement account) is waiting to get in and in fact nobody care about bitcoin?
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).
http://i.imgur.com/dh2qsBe.jpg
If thing comes out like this, does it mean neither wall street nor average joe (who invest with their retirement account) is waiting to get in and in fact nobody care about bitcoin?
Re: What if Winklevoss' bitcoin ETF would be the same as Barry Silbert's GBTC
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.
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:
They said it should start this week?
Yes, like the two previous weeks.
http://cdn.meme.am/images/8373718.jpg
Re: What if Winklevoss' bitcoin ETF would be the same as Barry Silbert's GBTC
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
The massive amount of anti-bitcoin trolls on this forum, reddit and twitter is a blatant sign to me that we are on the right path. Since we're encountering so much opposition we must be doing something right! Bitcoin will rule the internet of monies in a few years then we can all sit back and laugh at the old days doubt and speculation.
No, it only shows that the "trolls" are trying to tell new people that come to read this forum the truth, possibly avoiding them with financial ruin and a future of obsessed gambling addicts.For the permabulls there is no hope, the "trolling" is not for them, those will just baghold for the end of eternity.
How do you know the truth?
If you mean the future then your last few predictions proved totally wrong. Will you make another call for new lows then disappear whilst the price rises 30% again?
Will the price rises 30% after a 83% drop?
Re: What if Winklevoss' bitcoin ETF would be the same as Barry Silbert's GBTC
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?
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?
A Short and Clear answer i am looking for, thank you!
Too many trolls here talking offtopic shits and ignore&afraid to answer the question
Re: What if Winklevoss' bitcoin ETF would be the same as Barry Silbert's GBTC
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?
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?
What if Winklevoss' bitcoin ETF would be the same as Barry Silbert's GBTC
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).
http://i.imgur.com/dh2qsBe.jpg
If thing comes out like this, does it mean neither wall street nor average joe (who invest with their retirement account) is waiting to get in and in fact nobody care about bitcoin?
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).
http://i.imgur.com/dh2qsBe.jpg
If thing comes out like this, does it mean neither wall street nor average joe (who invest with their retirement account) is waiting to get in and in fact nobody care about bitcoin?