All of the buys below took place after this became an issue: | Date | NAV ($) | Net | Est | Est Net | Est New | Actual | | spaceholder | | Assets | Holding | Buying | Invest | Holding | | | (M$) | (XBT) | (XBT) | (M$) | (XBT) | Notes | | 26-Nov-14 | 36.37 | 49.96 | 134185 | 4555 | 1.70 | | | 25-Nov-14 | 37.52 | 49.79 | 129630 | 2123 | 0.82 | | | 18-Nov-14 | 37.21 | 48.56 | 127526 | 6335 | 2.42 | | | 11-Nov-14 | 35.77 | 44.36 | 121228 | 6837 | 2.51 | |
Those buys were discussed earlier. To me they look like a single entity investing ~6600 BTC per week. Maybe it knows something that we don't know. Yes, Jorge, I've read your unsubstantiated claim that you think it was single entity. More than once  Even if it was (hint: pure speculation), the point was whether anyone would be willing to buy in after the selling restriction. Apparently, someone was, to the tune of almost 8M USD. EDIT: Or maybe I didn't get your point. Mine was: more than the selling restrictions market cycles (and perhaps, insider information) seems to drive buying/selling. I think that's not pure speculation. It was almost the same USD amount for 4 consecutive Tuesdays (except the last one with Tuesday and Wednesday). It's logical to speculate that it was a single entity. As I said, they invest through BIT probably because they are institutional investors that are not allowed to store real bitcoin, or they have decided to hold more than a year and don't care about the selling restriction. |
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For the "SEC blocking withdrawals" rumor, I'm not saying it's impossible but it has never been reported by any credible source.
I find it hard to believe too, but there have been two confirmations, no denials, and @jamesg claims to have seen their newsletter. Perhaps I should ask Barry on twitter. Why would anyone lie about this? It doesn't "benefit" anyone per say. It is what it is. As another poster said, its not a letter you can copy and paste. No one has denied it for the simple reason it is true. If it is true, why isn't it reported by any credible source, such as Bloomberg, CNN, or even any bitcoin news portal like Coindesk? This rumor has been here for months. |
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OK, ignore the "disastrous performance" if you will. There is still the fees, failed promises, and (apparently) having to watch the share value drop without being able to take the money out. Now, remind me, what were the advantages of buying fund shares instead of buying bitcoins directly?
Your mother or grandmother can own Bitcoin without needing to read the forums for three weeks to figure out security. Not everyone who invests in Bitcoin has a horizon of 60 days to get rich. Well, seen from the outside, SMBIT is starting to look more risky than buying bitcoins at Bitstamp and keeping them there. At least, Bitstamp has no lock-in period and has a handy open market in-house. Investors who bought SMBIT shares in September 2013, at 13 $/share, and are firm believers in the long-range success of BTC, may not be bothered by those problems. But I am trying to imagine someone who invested in January at 90$, could have liquidated in July at 60$, but has been forced to hold and now sees the shares worth only 30$. I can't believe that all of those January investors are hold-at-any-cost types. I wonder if these "problems with the SEC" are blocking withdrawals also from the other funds (PBP, Exante, etc.) Some institutional investors may not be allowed to buy and store real bitcoin, just like they may not be allowed to buy and store real gold. If they want to invest in gold, they have to do it through "experts", like GLD. For the "SEC blocking withdrawals" rumor, I'm not saying it's impossible but it has never been reported by any credible source. |
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The 2nd market BIT is generally a very large whale. When the price is increasing their investors will buy more, causing additional upwards price pressure
Given the rumors that investors cannot liquidate even after the 6-month lock-in period (see previous posts), the disastrous performance of the fund this year, and the continuing lack of the long-overdue open market for their shares, I really do not see why someone would invest in this fund. Are you sure? Just a month ago, someone spent $10M in this fund I saw that, and I still can't see why someone would do it. Many people, like you, could't see why someone would buy bitcoin when it dropped from $32 to $2. They said bitcoin was a complete failure. Today, even with the "disastrous performance" in 2014, bitcoin is still 150x better than the $2 bottom. |
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The 2nd market BIT is generally a very large whale. When the price is increasing their investors will buy more, causing additional upwards price pressure
Given the rumors that investors cannot liquidate even after the 6-month lock-in period (see previous posts), the disastrous performance of the fund this year, and the continuing lack of the long-overdue open market for their shares, I really do not see why someone would invest in this fund. Are you sure? Just a month ago, someone spent $10M in this fund |
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5th amendment  to the filing this time I guess the juicy part was them outlining the shares to be sold. I wish the process would have a better time it will take the SEC to approve/disapprove So is it approved yet? I have no fucking clue, thanks to the vagueness of everything. Typical Wall Street If you read in the main sec.gov COIN page: Filing Date 2014-12-31 Accepted
2014-12-30 21:10:03Documents 14 So, I guess it is already accepted and they will work now to launch it. NO. It always says "accepted", e.g. the first submission: http://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/0001193125-13-279830-index.htm |
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Slight increase since last update
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if my math is right, I think there's a selling of approx $250k worth of BTC (a few hundreds at prevailing prices)
No, no real change since last update |
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 Will it form a triple bottom at around -1.5, or going to make a new low? It never goes below -1.5 in the past 3 years |
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Please go to the wall observer for off topic discussion
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Please go to the wall observer for off topic discussion
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bc.info is nothing but a fancy UI. It is never a reliable wallet |
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Bitcoin didn't make them 50x richer in 10 months so they close fund? Anyway, the secondmarket fund is still doing well |
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Unionpay has NEVER played any important role in the transfer of fiat to and from Chinese exchanges. Even if the news was true the impact would be small. |
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你在线的。问：为什么存比特币？
因为它是我所知道的人类第一次真正独立自主的掌握自己财产的形态。也是最便捷的。 黃金白銀也可以讓你獨立自主掌握你的財產, 只是沒這麼方便 |
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Data since Nov 2014 updated with new normalization factor
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