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8 minutes between trades on finex. Not gentlemen.
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I'm just saying, if you are doing really low volume, it probably won't matter. But if one day they decide to prosecute BTC sellers in your state like they have in FL and CO, this could very well happen to anyone. But you can prevent it by being registered as an MSB with FINCEN (which is free) and implementing an AML / KYC policy. For your AML policy, you probably won't be able to do transactions over 3k unless they provide ID and proof of residence. It would probably be a good idea not to do any transactions over 3k, period.
If they mention using the BTC for anything illegal, it's a good idea to assume the customer is an undercover federal agent and you must terminate the transaction immediately.
I have heard it said that free legal advice is worth exactly what you pay for it. Well Burt, I'm just going off what I have learned in my personal time selling BTC. In fact, I'm just repeating what many other seasoned traders have said already, and what the company I used to work for has told me. There are sellers who process millions of $ worth of BTC transactions through their bank accounts, have been investigated by the FBI, and cleared. They are all registered with FINCEN and implement AML / KYC policy. The feds can, theoretically, arrest anyone who sells BTC without being registered as an MSB. I hold no illusions that they can pretty much do whatever they want if they feel like it. It happened to you, it could happen to anyone. And I know full well what their motivations are (greed, among other things.) I was just stating the obvious that it is possible to mitigate (but not necessarily completely eliminate) your risk by following certain guidelines. Hopefully, it will be helpful to someone. They will figure this out on their own anyway. That being said, I very much hope you prevail in your fight against government over-reach. I truly wish you the best of luck. Well said. You can choose a country, you can't choose its laws, just or unjust. No ill will in saying this, I'm certain this is not what Burt wanted nor what he deserved. |
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Only $500K away from $260. Let's do this bulls!
That'd be like pissing in the wind. Looks like the sideways until some news, 250-260. I think any move to the upside will be using initial trading of GBTC as a catalyst. The complete lack of volume and downward drift, with occasional pumps up and drifting down, feels like probability of dumpage if that doesn't happen soon. The bid book is flush if a whale wants to exit here. |
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[–]d4d5c4e5 1 point 11 days ago
Trollfi does stuff like that intentionally all the time. Most likely he has a copy/paste wall of text from Wikipedia ready to lecture you that the letter T is really an F!
 Huh? "Trolfi" seemed to explain it more accurately (aside from the acronyms) than the other redditors. Especially this one. |
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I find the list of participants more interesting than the prices and number of shares, both of which will instantly change when someone decides they would like to sell their "bagholding" BIT shares.
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Updated with new bid from Maxim Group LLC today. 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
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Is it just me or has BTC on exchanges and even BTC-e volume been dead the last 4 hrs...
Not just you.  |
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We're talking 10-24.3 btc worth here. Mostly like a ping to entice someone to place an ask.
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Thank you. I don't understand why they would bid over spot though?
They're likely place holder bids, expect it to adjust (probably drastically) when someone actually is willing to sell some shares. |
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How do I relate share price to BTC/USD? One share of GBTC represents 0.1btc. Minus fees. |
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Existing bids: Canaccord Genuity Inc 100 35.51
KCG Americas LLC 100 35.50
Wedbush Securities Inc 100 31.50
Citadel Securities 243 25.00
Puma Capital, LLC 100 25.00
Merriman Curhan Ford & Co 100 20.00
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I start feeling that I care less and less about the daily changes in bitcoin price... I feel as though it won't matter in two years, because my coins will be worth at least twice what I bought them at ($280-ish). Now, I'm watching the market with not a care in the world. I feel a bit liberated. Time will tell if I'm wrong.
Not a care in the world, and watching the market? Je suis BlindMayorBitcorn |
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Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.
I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.
There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.
 gains? dude, did you see the charts and where the price was 12 months ago? those who bought those shares 12 months ago are bag holding hard. the volume will be pitiful. penny stock trading at its best. Of course you're right about the majority of BIT hodlers, not all, but statistically most. Thing is, as you know... it doesn't matter what the price was yesterday. A 30% gain tomorrow is a 30% gain tomorrow. Especially when you could buy back the same asset within the hour. Edit: Not the same asset, the real deal. |
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Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.
I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.
There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.
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buy @ 262.20
Wait till Sunday to buy in he said... emotional FOMO trade takes over. Ugh.
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sell $254.66
Shit... If he's selling, then I gots to sell  Sell @ 254.60 Once again, my cunning plan is thwarted by the market's ability to do exactly the opposite to what I think it will! I should have used the sgbett contra-indicator. Currently feeling a heavy and distinct FOMO.  |
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My assumption is bitcoin has at least one more bubble in it even if it fails as an alternative private currency. Not exactly a ringing endorsement from one of the biggest bulls around these parts... Just one more spike to unload your bags? |
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Bears are quiet since you Bulls managed to rise to 260?
Oh dear, please...price is now ~600 below my average sell price (even ignoring shorts and leverage) You guys make me tremble with your 10$ pumps within the 200+
Is it that you folks are hodling since ~1150$, so each 10$ has to relive your wet dreams?
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