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241  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 07, 2014, 12:30:40 PM
Not sure how new this is, but coingecko.com has a variety of interesting metrics by which you can sort altcoin rankings.

This one use various source code activity to rank coins by "developer."  Monero is #4  https://www.coingecko.com/en?sort_by=developer_score

Monero is also top 10 on "total" and "liquidity."

Does not do so well on "Community", but it looks like that score is based primarily on reddit, facebook and twitter.  It does not seem to track bitcointalk.org (let alone the fine rpietila specific threads).  No doubt this is due to increased complexity of monitoring discussions on bitcointalk generally, and the even further complexity of tracking the reputation of posters on bitcointalk.org.

Still, some interesting measures.

PS - doesn't seem to sort well on chrome, had to use explorer to get that working.
242  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: July 29, 2014, 08:07:17 PM


It comes basically down to the question if they're only selling Bitcoin they actually do have. Is that even allowed to sell more Bitcoin than they actually own in this case?

Someone correct me if I'm wrong but I beleive that they are only able to offer as much as they own. This is why I made the point about how they aren't going to be putting up their own coins so all etf coins will have to be bought from the general market.

The trust is going to hold bitcoin equal to the value of the ETF securities it issues, less expenses.  

The way the trust will do this is there will be "Authorized Participants" who will interact with the trust.  The trust will offer ETF securities to the Authorized participants in exchange for bitcoin.  The minimum transaction is a "basket" equal to 10,000 bitcoin and 50,000 ETF shares.  So each ETF share will be worth .2 bitcoin.

There will be "Seed Baskets" whereby one or more Authorized Participants will commit to exchanging bitcoin for ETF shares at a certain amount.  This is essentially the "IPO" of the ETF.  The Authorized Participants will then make those ETF shares available for trading on the Nasdaq.  

Pursuant to the Agreement, the bitcoin the trust receives may only be: "(1) held by the Trust, (2) transferred to Authorized Participants in connection with the redemption of Baskets; (3) transferred to pay the Sponsor’s Fee; or (4) transferred as needed to pay the Trust’s expenses not assumed by the Sponsor."  http://www.sec.gov/Archives/edgar/data/1579346/000119312514257706/d721187ds1a.htm

So other than expenses, and (2) above, the trust will hold the bitcoin.

What is (2) above?  (2) is a reference to another way the Authorized Participants are different than retail investors in the ETF.  In addition to "creating" new ETF shares by tendering bitcoin, they may tender ETF shares (again, with same minimum basket size) to the fund in exchange for bitcoin.  

The ability of Authorized Participants to create and redeem ETF shares, in exchange for bitcoin is what manages the supply and demand of shares after the initial transaction.  The goal is that the ETF share price is relatively close to the Net Asset Value ("NAV") per share of ETF (equal to the the value of bitcoin held less expenses).  If the ETF price is above the NAV, then Authorized Participants will sell more bitcoin to the trust, and more ETF shares will be issued, which will increase the supply and push the price back close to the NAV.  And vice versa if NAV is above the ETF.  Or at least that is the goal.

This is the same process for many ETFs that are backed by an asset, including gold.  However, not all asset-based ETFs are backed by the asset, others may be based on derivatives designed to track gold prices.  And then, of course, there are many other derivative transactions related to gold or other assets that may or may not be backed by gold.  This is why the total notional value of gold ETFs and other securities may exceed the total value of gold in existence.

TLDR: Winklevoss fund will be backed by bitcoin.  Many asset based ETF, including gold ones, are also back by the asset.  Others aren't, which is why the total notional "paper" amount of gold that is traded may exceed the amount of physical gold in existence.
243  Alternate cryptocurrencies / Altcoin Discussion / Re: -> Monero Community Hall of Fame <- on: July 23, 2014, 01:14:04 AM
Made another 100XMR contribution, sent confirmation info to Fluffy.

244  Alternate cryptocurrencies / Altcoin Discussion / Re: [XMR] rpietila Monero Economics thread on: July 23, 2014, 12:54:11 AM
Any ideas around the stake of the dev team as a whole?

Obviously tough to get a big share with XMR but I know some of them like TacoTime got some really cheap early buys.

Glad that the community is supporting those guys committing time to the project.

We all got some early mining or buying done, but we also sold to cover costs early on. I'm quite fine with being transparent, and we've occasionally spoken amongst ourselves about our respective "stash" (although the "make our stash worth more" context has been notably lacking). Including myself, I would guess that we collectively have substantially less than 50 000 XMR, probably closer to 30 000 XMR between the 7 of us.

Well, that comment is a perfect excuse to donate another 100XMR to the development fund in accordance with the Monero Community Hall of Fame (https://bitcointalk.org/index.php?topic=700400.0). 

Thanks greatly to all the developers.
245  Alternate cryptocurrencies / Altcoin Discussion / Re: -> Monero Community Hall of Fame <- on: July 21, 2014, 07:41:11 PM
Thanks for the explanation.  And yes, it was sent from an exchange.
246  Alternate cryptocurrencies / Altcoin Discussion / Re: -> Monero Community Hall of Fame <- on: July 21, 2014, 06:28:38 PM
Made a 100XMR contribution just now, payment ID 54b284e5c7d5f560df46bd11f2a10793579a73bdf4684af5f83e79edaa4f7c0c.

By the way, if I search for that payment ID on monerochain:

http://monerochain.info/tx/f122e633da0a0e4fac3b0f1c2a33c5d515e3d91e474710c16db1239d21fe67af

It lists the amount as 148.68, not 100.

Anyone know why that is?
247  Alternate cryptocurrencies / Altcoin Discussion / Re: -> Monero Community Hall of Fame <- on: July 21, 2014, 05:33:03 PM
Made a 100XMR contribution just now, payment ID 54b284e5c7d5f560df46bd11f2a10793579a73bdf4684af5f83e79edaa4f7c0c.
248  Alternate cryptocurrencies / Altcoin Discussion / Re: -> Monero Community Hall of Fame <- on: July 21, 2014, 12:47:21 AM
In the original thread, Risto noted:

"I think honor is enough for kyu grades. For Dan levels, you should contact the treasurer in advance and he will give you something that resembles a satoshimessage (or whatever that identifies you)."

So what is the process now for Dan levels, and who is the treasurer?
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