My opinion is that, if they get it through the system and get it listed it will be an enormous flop.
Care to explain why? Tooooooo risky. Did you read the prospectus? If I was risking client money, I think I would risk their money on Somali oil reserves before this ETF. Meh, no riskier than plenty of other options out there, that are already doing $millions in trades every day. Institutions will buy what their clients want. If they want a high risk/reward investment option, COIN is likely to be on that list. Fact is stranger than fiction, but I think this one is too risky (and small) for institutional investors. I'm going to have to see it to believe it. I'm not sure that it will even be approved. Not sure enough to bet? I'll bet you everything I have left from timeshare coin. |
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My opinion is that, if they get it through the system and get it listed it will be an enormous flop.
Care to explain why? Tooooooo risky. Did you read the prospectus? If I was risking client money, I think I would risk their money on Somali oil reserves before this ETF. Meh, no riskier than plenty of other options out there, that are already doing $millions in trades every day. Institutions will buy what their clients want. If they want a high risk/reward investment option, COIN is likely to be on that list. Fact is stranger than fiction, but I think this one is too risky (and small) for institutional investors. I'm going to have to see it to believe it. I'm not sure that it will even be approved. |
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My opinion is that, if they get it through the system and get it listed it will be an enormous flop.
Care to explain why? Tooooooo risky. Did you read the prospectus? If I was risking client money, I think I would risk their money on Somali oil reserves before this ETF. Nahh man.. you're so wrong on so many fronts its crazy.. First Somali oil..... Really??  Also.. why would you not want the shares backed buy actual coin? what should it be backed by?? Promises? HAHA.. Fedreserve anyone?? The winkidouch may not be the sharpest tools in the shed but they've got their shit on lock down with it comes to this ETF. and I can assure you it will be no FLOP.. Wanna make a "small" bet with me as to if its a flop or a success upon launch? You don't really know what an ETF is do you Bob. lol |
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That's really cool and strange at the same time. I wonder how much of that regional success is attributable to Meni Rosenfeld? He's been a big supporter of Bitcoin in Israel from the beginning. Did you look him up when you were there?
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Nobody is paying for posts - I am encouraging charity with an interactive list and also giving away free bitcoin.
The internet is exhausting sometimes.. :/
Um, no you're paying for posts. "Those of you who just want the charity of your own pockets to expand still say Hi  100 bits for the first 500 comments!" Do you realize that the mods and admins here are also the mods and admins on Reddit but they are more likely to see this thread here? ROFL I spoke with the mods and admins. thank you for your concern Oh, good luck then. |
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Nobody is paying for posts - I am encouraging charity with an interactive list and also giving away free bitcoin.
The internet is exhausting sometimes.. :/
Um, no you're paying for posts. "Those of you who just want the charity of your own pockets to expand still say Hi 100 bits for the first 500 comments!" Do you realize that the mods and admins here are also the mods and admins on Reddit but they are more likely to see this thread here? ROFL |
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My opinion is that, if they get it through the system and get it listed it will be an enormous flop.
Care to explain why? Tooooooo risky. Did you read the prospectus? If I was risking client money, I think I would risk their money on Somali oil reserves before this ETF. |
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You realize paying for posts is against Reddit's TOS, right?
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Stop comparing it to MtGox. That just shows, that you guys have no idea, what you are talking about.
I am not 100% sure, but there is no evidence that would suggest, that customers will have to pay for that incident.
In business the customers always pay eventually. When I was operating my business and my electric rate went up or delivery costs went up my prices went up. That's the nature of business and why a McDonalds hamburger isn't still 15 cents. |
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Yes, they lost money. That doesn't mean they lost your money. They lost their hot wallet, but have much more funds in their cold wallet. They don't have any problem, paying back to their customer.
There was some user who was saying similar reassuring things about Mt. Gox all the way up to the bankruptcy. Who was that, and where are they now? Everyone on the outside always knows what's going on on the inside, that's what I love about this community. They don't speculate, they are 100% sure about everything. Trends, hacks, potential businesses, no speculators here, just a whole bunch of people that are 100% correct. So true but how many people here are paid to purposely plant false information. Not many of them are as blatantly transparent as Matthew Wright's attempt to draw attention away from pirates failing ponzi. How many people are never identified as shills working for some company. They work for the highest bidder while their rank and seniority continues to rise. That's what I liked about MPOE-PR. Call em' like you see em' direct approach isn't well received here though. |
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This thread is funny to watch. You're all talking about the issue as if you have the ability to change Bitcoin. Those people exist on GitHub and the TBF forum. They communicate about the issues over there. Those people have stated, in no uncertain terms, that Bitcoin will not move away from the current PoW system. Unless you're all talking about a new coin that you're going to call Bitcoin then I'm confused about what's happening here.
Yes of course, we are all armchair pundits here but trying to make points why (or why not) changing the protocol would be a good idea. I know. I'm in that crowd. |
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This thread is funny to watch. You're all talking about the issue as if you have the ability to change Bitcoin. Those people exist on GitHub and the TBF forum. They communicate about the issues over there. Those people have stated, in no uncertain terms, that Bitcoin will not move away from the current PoW system. Unless you're all talking about a new coin that you're going to call Bitcoin then I'm confused about what's happening here.
Technically all it takes is one dev (that can come out of nowhere) and a majority of users to switch. The chances of this happening are infinitesimally small though and for good reason. Yeah, I guess so. It's still funny to watch the debates from the users. Trust me, when the debates are between the power players I watch them with quiet intent. |
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Uhm, I think that is the point - an exchange-traded fund (ETF) that is tied solely to the price of Bitcoin. What were you expecting? Read up the thread. I was responding to jbreher. |
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nice find cheers for link what is your feeling about this etf? will it be allowed? will it be a flop? is that, if they get it through the system and get it listed it will be an enormous flop. I wonder how much of Zuckerberg's money they have jacked off between this and their BitInstant investment. ROFL |
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I don't get it. Who is fucked? The investors? The Winklevii? Those who do not invest? The SEC? The pinstriped bandits? Please clue me in. The Winkleiidouches. lol |
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This thread is funny to watch. You're all talking about the issue as if you have the ability to change Bitcoin. Those people exist on GitHub and the TBF forum. They communicate about the issues over there. Those people have stated, in no uncertain terms, that Bitcoin will not move away from the current PoW system. Unless you're all talking about a new coin that you're going to call Bitcoin then I'm confused about what's happening here.
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Read this and tell me if you believe Bitcoin will be a sound ETF investment for knowledgable players. 5. Finally, very new or very small ETFs sometimes trade inefficiently, resulting in wide spreads between their buy and sell prices or failure to track their benchmarks accurately. Wait for an ETF to gather at least $100 million in assets before you invest in it. #2 and #5 are about the only ones that really matter - crypto's are always a risky investment (at least right now). The risk/reward ratio is a factor, but trading volume is going to be what drives whether the big money gets involved. If COIN is only moving $100k per day in volume, none of the big boys are going to bother screwing with it. Agreed, 2 and 5 are the killers. Granted, I don't know too much about investments pushed by pinstriped bandits. However, my impression of the average ETF is that it contains a basket of multiple securities, no? If so, why would a single-security ETF (e.g. COIN) be affected by #5 at all? The effort required to track a single security (e.g. Bitcoin) should be trivial, and therefore very efficient, should it not? You're absolutely right and that's a good point. Classic ETFs are a bundle that together make up an investment category (like "technology") but it doesn't have to be that way. If someone can find a copy of the prospectus we can find out. |
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BitPay has done more than anyone else. Even the Microsoft news can be attributed to BitPay.
http://www.coinbuzz.com/2015/01/05/bitcoin-bowls-popular-success/More interestingly, BitPay payed for the sponsorship entirely in Bitcoin. ESPN immediately exchanged all of thew Bitcoin for US Dollars. BitPay, the top third-party payment provider, even sponsored a Bowl game, paying ESPN for the rights entirely in bitcoins, whereupon they immediately exchanged them bitcoins using a third-party payme... Wait a second! If this trend continues, next year we may witness the Fiesta/HashTrade Bowl and the LiquidHuluBits Bowl and the Netsolus/Nectarine Bowl, all on the same day to boot, preceded by the CoinWare Parade in front of the Miami Bitcoin Embassy bearing a block-long, two-story tall banner that reads: A noble spirit embiggens the smallest man. I don't even know what you're talking about Bruno? Can you be a little less cryptic and dumb it down for me? Do you mean: Because BitPay exchanges BTC for USD they aren't doing anything valuable for Bitcoin? Streamlining merchant acceptance of Bitcoin by performing a seamless exchange function is kind of what they do for a living. |
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their office is supposed to be in England not in Slovenia. The office rent is around of 3000-4000 euro/month because they are in 5 New Street Square, London. They wanted to be "trendy". I do not believe they have more than 2-3 employees for customer support and order processing(bank wires). They have 1 programmer + 7-8 "executives". I counted 7. The executive salaries must be BIG(over 10K per month). in summary, Bitstamp expenses should be around of 1 mil EURO per year due to their "executives" It's the registered office (London), it doesn't have to be their operational office, and probably isn't. Were did you get those 7 executives from? I only see 5 directors + 1 secretary (they don't have to be exec, and exec doesn't have to be official director). Exec's salary is just a guessing game. It could be zero, or minimal wage (if the exec is also a shareholder, in such case he'll get most through dividends), it could be performance-related salary etc. They'd have to be really stupid to sign up an exec for ridiculous fixed salary without tying it to performance. Do not forget the former Paypal exec. who come to Bitstamp last year. I am sure he is not paid with the minimal wage. He didn't leave Paypal for some pennies. Also, count the exec. trips. USA, Canada, whole Europe, Asia. These trips are not so cheap. I am sure all the exec.(even they are shareholders) had BIG salaries and not minimal wage. I'm not sure the "too big to fail" scenario works in this case. Execs lose their jobs all the time. The only difference between them and a regular Joe is that their CV helps them land somewhere else pretty quickly. correct but their exec are Arthur Britto, Daniel Wayne Morehead, Steve Waterhouse, Cto Damijan Merlak, Nejc Kodric Arthur Britto is founder: Ripple Labs too. So, Bistamp is related with Ripple. Daniel Wayne Morehead is Pantera Capital Management who lend Bistamp with 10 MIL. Same with Steve Waterhouse, founder: Ripple Labs , Pantera Capital Management. Cto Damijan Merlak, Nejc Kodric are the owners. Who will lose his job, the programmers? Big players throw their money in lots of directions hoping that one of them is the miracle investment that buys that island in the pacific they've had their eye on. Some of them fail and some of them make money. I'm not saying stamp won't bounce back. I just don't believe looking at the VC money source or employee roster matters as much as people think it does. |
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