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Thank you for the info David.
So shares need to be 12 months old before they can be sold on OTC Market. It will be fun to see how this develops with limited supply there.
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Curious to know what is your take on this comment? In a statement, the Digital Currency Group said, “Although we have been assigned a ticker symbol, no assurances can be given as to when or if such trading will commence, or that an active public secondary market for BIT shares will develop or be maintained.” I guess they must say that until an official announcement. I don't doubt that it will be traded after they got the OK from FINRA and the BIT showed up on OTC Market. |
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As I get it they still can only sell a year old shares though, just that now there are ones that are old enough.
Even if this is true does it prevent BIT from buying more bitcoins ? (and sell 1 year old shares ) ~83k coins have been in the BIT for more than a year, so these will be sold at the OTC market if the investors can buy new shares for a lower price than they sell them for. And then the number will increase every month if there is demand. Not quite, those bitcoins will be sold only if the owners of the corresponding shares are allowed to redeem them (sell them back to SMBIT). If the owners sell the shares on the OTC market, SMBIT neither buys nor sells. Redemptions have been suspended since last October. It is not clear if and when they will be allowed again. Long term investors with shares older than 1 year (about 83k coins) will sell them on OTC market if they can buy new cheaper shares from Grayscale. This will happen if the price on OTC market is higher than on the regular bitcoin exchanges. |
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As I get it they still can only sell a year old shares though, just that now there are ones that are old enough.
Even if this is true does it prevent BIT from buying more bitcoins ? (and sell 1 year old shares ) ~83k coins have been in the BIT for more than a year, so these will be sold at the OTC market if the investors can buy new shares for a lower price than they sell them for. And then the number will increase every month if there is demand. |
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As I get it they still can only sell a year old shares though, just that now there are ones that are old enough.
Hmm... I hope you are wrong.  |
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Secondmarket investors could not sell in the past and now the expiry period is over, and that means it's publicly traded, right?
Or can anybody explain what exactly else that means?
Yes, the BIT will be listed on OTC Markets and it will be publicly traded. http://www.otcmarkets.com/stock/BTCV/profile(The ticker will change to GBTC.) I mean implicitly, and only if IPO investors decide to sell, because where else are BIT shares supposed to come from? As long as the bid price on the OTC market is higher than on the regular bitcoin exchanges, Grayscale will purchase bitcoins, create shares in the BIT and sell the shares to accredited investors which will sell the shares on the OTC market. |
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Secondmarket investors could not sell in the past and now the expiry period is over, and that means it's publicly traded, right?
Or can anybody explain what exactly else that means?
Yes, the BIT will be listed on OTC Markets and it will be publicly traded. http://www.otcmarkets.com/stock/BTCV/profile(The ticker will change to GBTC.) |
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Well, it seems that SMBIT is listed at OTCQX finally. Is trading there open yet? No, but I guess it's getting closer since they listed the BIT. |
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Damn, now I have to set one up...
OK, how about:
Jun 2015 BTC0.1793
Dec 2015 BTC0.1972
Jun 2016 BTC0.2170
Dec 2016 BTC0.2387
Jun 2017 BTC0.2625
Dec 2017 BTC0.2888
Jun 2018 BTC0.3177
Dec 2018 BTC0.3812
Jun 2019 BTC0.4574
Dec 2019 BTC0.5489
?
What are these numbers? |
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Sorry Kupsi, I had to go look at some of your old posts. To bad people didn't listen to you then. You are right. $10 dollar coins are extremely cheap. Hope you held onto all of those.
Some listened. I've sold a few to cover living expenses, but I have enough to not work again if the price continues its long term uptrend.  |
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My investment portfolio is doing even better than expected, I'm up thousands of $$ today.
How's that bitcoin investment working out for all of you? Just wondering, because from here, it doesn't seem to be going too well.
I'm doing pretty ok. Right on schedule. This is my magic schedule: Jun 1 2012 $5 Dec 1 2012 $10 Jun 1 2013 $20 Dec 1 2013 $40 Jun 1 2014 $80 Dec 1 2014 $160 Jun 1 2015 $320 Dec 1 2015 $640 Jun 1 2016 $1280 Jun 2 2016 Retire  |
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Thankfully, the Silk Road was eventually shutdown - the price of the bitcoin dropped immediately and sharply (though today reincarnations of this dark bazaar now exist).
After 14 days, the price was higher than before Silk Road was shut down. Then the price increased 10x in two months. |
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The first legitimate bubble took the price quickly from $1 to $2 to $32, and then in short order back to $2. It took another 3 years for the price to recover to around $20 in value, as public awareness of the existence of bitcoin slowly grew, and new money flowed in.
It took 1 year and 9 months. After three years, the price was ~$600. |
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i foresee the Trezor replacing the offline wallet and its pc and being more secure since the offline wallets can be susceptible to a USB malware attack. as far as i know, there is no way to get privkeys off a Trezor so in that sense it is safer I think this is a dangerous assumption to make. Trezor has a larger attack surface than an offline laptop, since you have to plug it in directly to a potential hostile machine every time you use it. You can reduce your attack surface with an offline laptop by using CD-R media instead of USB drives, or maybe by using the audio cable transfer method. Trezor & Offline Armory multisig FTW |
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