Another fave has just occurred to me.

'BTC will be $5000 one day'

riposte - 'a loaf of bread will be $10,000.'

There are a few heroes who post utter drivel. I assume that's because the account has been sold or they blew their chance at being an early adopter and have gone batshit insane.

I don't think activity level has much bearing on post quality. There are newbies who post thoughtful content.

If you have farmed a hero account, that's some serious commitment over a lengthy amount of time. I'd be surprised if there are many that have been nurtured all that time purely to sell.

It's gone silent for now. I assume the Winklevii had to create a trustworthy exchange to get the ETF even considered as they have to buy coins if more shares are sold.

That exchange isn't going to happen until the Bitlicence is in place. That'll arrive at the end of the month supposedly. Then there's more messing around to do.

They do have the best in the business trying to push it through but they have a lot of stuffy old SEC people to satisfy yet.

That kinda says everything, doesn't it?

Once good exchanges are everywhere I still think ordinary folks would prefer 'retail' options.

An exchange with its walls and sell and buy orders is considerably more intimidating than a big, friendly buy button. The exchanges would be feeding such options though.

If we take into account hoarded, lost, Satoshi coins, I remember reading somewhere it would take $250 billion to push the price to $80,000. That assumes that massive selling doesn't come out of the woodwork. You'd be a bit stupid not to.

It would fun and fascinating if it did happen. I ain't holding my breath though.

It would be very interesting to compare volumes of exchanges vs places like circle, coinbase, localbitcoins. Depending on what country you're in, an exchange is a major pain to obtain coins from. A lot of regular people would go straight to easier places to buy.

More like 10,000 times I would've thought.

Gotta be a dead cert, surely?

There's enough Chinese coins on Ebay 'inspired' by established designs, though none of them try to pass themselves off as genuine.

It would only take a bit more precision to have a try at making a funded replica but there's probably not enough demand yet.

Well, it's an exhausting job not posting anywhere.

"on vacation" of course.

The rate things are going it'll be a delisting fairly soon. Let this be a lesson to all. $35 of volume is not going to set the world on fire any time soon.

I hope it never happens. If it does then it's going to open up a whole new world of legal pain. Who would be responsible? The GPS provider? The manufacturer of the car? The local authority if there was something wrong with the road surface? I wonder.

I think they were bright enough to realise that hence the commitment to buy equal amounts of coins per note. I dunno whether that's totally voluntary or whether they have to inform the market if that changes.

We need a Swedish speaker to have a read of the prospectus and clear it up.

Unfortunately all the details are on their prospectus but it's only in Swedish.

I do remember reading somewhere that every note would be backed by coins so maybe it's not quite an ETN.

"XBT Provider AB will hedge all sales of the bitcoin traded note by buying an equal value in the bitcoin market."

http://www.coindesk.com/swedens-nasdaq-exchange-approves-bitcoin-based-etn/

From wikipedia -

"When an investor buys an ETN, the underwriting bank promises to pay the amount reflected in the index, minus fees upon maturity. Thus ETN has an additional risk compared to an ETF; if the credit of the underwriting bank becomes suspect, the investment might lose value, the same way a senior debt would."

"ETNs don't actually own anything they are tracking."

They attracted some serious investment and I assume nasdaq wouldn't be allowing total idiots into their market.

The Winklevii have 100,000 or so coins right now. If they sell more shares then they'll have to obtain more from elsewhere.

Yes. An ETN is a credit note, not something backed by the actual commodity like the ETF would be (theoretically.)

With an ETF you're buying actual bitcoins in a wrapper. With the ETN all you're buying is a promise from KNCminer. If KNCminer fails then bang goes the ETN too.

I'm not so worried about goods, but my own safety and the safety of other people on the road is more important than any animal that strays into my path.

When I was a nipper we used to take an hour-long bus journey to school through pheasant shooting country (so they were dead meat anyway).

One particular driver thought nothing of risking 40 little lives to avoid one pheasant that was dumb enough to stray into the road. He would slam on the brakes, veer everywhere and throw people all over the bus. Eventually he was fired after one near calamity too many.

I'm pretty sure they've stated that everything they need to do to launch technical wise has already been done. Now it's waiting for the Bitlicence etc. Unfortunately that's what always takes the serious time.  

There's no inflation. All XEM that will ever exist is here right now.