Look at the volume on Finex, Jeez. Slight bit of buying volume on Stamp too by the looks of it. Coinbase pretty flat as per usual. Anybody neutral want to predict what the next move will be, up or down? We are reaching a tipping point one way or another. |
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I have a question about GBTC: If you buy a share, can you convert it to real bitcoin? (Maybe it sounds stupid, but I think it's important and not obvious because of this trend with "advanced trading assets" and other shit talk) EDIT: And I support "The List" 100%! That's what I believe too. That if you actually buy a share you actually buy the equivalent BTC amount. I don't have an account there, but I believe there should be an option to get your BTCs out if you'd like... 1 share doesn't continually represent .1 BTC, as there are fees. You can redeem in baskets of 100 shares (though I saw in one place that the "Authorized Participant" is not accepted redemption requests right now). Do we know what these fee's are? |
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Why would that happen? The halving means that there will be only 1800 BTC per day to be mined rather than 3600. Many miners will have to stop mining, starting with those with smaller efficiency (hashes per dollar of electricty and other recurrent costs). It is not clear whether these miners will be small or large. My guess is that mining will become more centralized, and more China-based.
The price of bitcoin has halved 2-3 times since the ATH. In terms of mining profitability, effect of price halving and reward halving are just the same, since miners are paying bills in fiat. Therefore, a planned reward halving should not have a very dramatic effect on the hashing power (see what happened after the first halving in 2012). Also, price is expected to raise after halving due to decreased supply, which will compensate at least part of the loss of reward halving.
I have seen a proposal by an Israeli mathematician to change the way miners get their blocks from pools, that he claims willo reduce the risk of centralization by letting individual miners choose which transactions to include in a block. Perhaps.
There is that "21" company that apparently intends to put mining chips inside domestic equipment. Let's see...
Probably you are staying in the speculation forum for too long. We already have that for a long time. It is called "getblocktemplate", the BIP22 and 23. At least the Eligius pool supports GBT. https://github.com/bitcoin/bips/blob/master/bip-0022.mediawikihttps://github.com/bitcoin/bips/blob/master/bip-0023.mediawikiAs a professor in computer science with academic interest in bitcoin only, I suggest you spend more time in the technical forum rather than the wall observer. I as well as others have directed him to other more technically appropriate area's in the past to no avail. |
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Lets see what happens. Either bitcoin is very underpriced or GBTC users are happy to pay a heavy premium. Dumping into the opening on a Chinese exchange shows the degree of desperation from bears - yes you will have to cover your positions  Both are true. GBTC is the only option for some classes of funds (so heavy premium), and bitcoin is underpriced. This is a decent arbitrage opportunity. If someone is really serious about buying BTC, I bet they would be able to buy them on a regular exchange or from some mining company in bulk, even if they preferred an ETF. I know about the advantages and ease of use for people who are already active in that sector, but I don't know if this really warrants a markup of over 55%... This is quite steep! There's a weird chicken-and-egg thing here. Could be wrong, buuuut: a) Assessed market value without publicly tradable funds: $238.82. b) Assessed market value WITH publicly tradable funds: $420.00 ($42 sale price of GBTC x 10 shares = 1 BTC) As soon as the orders placed COULD become filled, the market shifted from a) to b), revaluating it. That is the most optimistic explanation. We're in one of those rare instances where supply or demand is severely pinched. Most actors don't know how to respond...until a trend emerges. Success is far from guaranteed here, but this day ACTUALLY coming can't hurt the bullish scenario in my view. The key IMHO is on the red lined text. I consider the GBTC the first "crystal clear" way for someone to get BTCs and not worrying about losing their money. This would take others to imitate or get passed by by businesses/initiatives like this. I've yelled much too long about the "dark" non-ledgered bitcoin transactions on almost ALL of the exchanges. This has to end. The price will definitely find its way - thats how free market works. For the 1st time, I'm happy an "exchange" is starting its business. The BIT skipped the lengthy SEC registration process by taking a shortcut approved by the Financial Industry Regulatory Authority (FINRA). Without SEC registration, the BIT can’t formally be considered as an Exchange Traded Fund (ETF), but other funds are seeking SEC approval for listing on the NYSE or Nasdaq. The Winklevoss twins are planning a Bitcoin Exchange Traded Fund (ETF), the Winklevoss Bitcoin Trust ETF, which will be available to investors on NASDAQ with the ticker COIN. https://bitcoinmagazine.com/19760/bitcoin-investment-trust-bit-goes-live-ticker-gbtc/ |
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I have three data points to support this now, but I am still not certain.
I bought 1 share of GBTC at $46. That is not represented on the price chart (Ameritrade).
I then bought 100 at $42. That appears as the ATH.
A few minutes ago, I sold 1 share at $69.
I also sold 7 more at $133.7
I was so excited, sure it would now appear on the chart.
I received the cash - the transaction is done - and I believe it is the ATH ever set in a market.
But it does not show on the price chart. The GBTC listing still shows 100 for sale, even though my order is now for 93 shares (7 sold).
I think there is something about 100 share limits (maybe somewhere in between 1 and 100) causing them to not get pushed through or updated, or some minimum order filter for charts.
I'm surprised BTCS (the only other Bitcoin stock) has not really moved in either direction yet.
For now the volume is low and the hopefull anticipation may be reflected in the price. |
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money which the bitcoin holders have put into the system, and expect to get back from it --- I've put dollars into bitcoin but I don't expect to get back dollars. I expect to get back goods and services. It does not matter. If you buy 1 BTC today, the only way you will get 240$ worth of goods tomorrow is if tomorrow's new investors, after buying all the 3600 coins that will be issued tomorrow, will also buy from BitPay the 1 BTC that you spent on said goods. In time we will look back at the plentiful availability of these "new" subsidy coins. As time goes by those coin's will be harder to come by. Hopefully merchants will continue to free up the coins they get from purchases and into the hands of those with understanding of how to resourcefully utilize this technology. |
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Price up into the 240's.
Shorts slowly covering.
Going to plan. Thanks for your money tarmi.
lol tarmitard is online but says no word  Speculation thread, make a call. Win and Lose With Dignity and Honor, when you win, you do not brag or gloat about it. When you lose, you accept it with grace. However temporary it may be. |
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Build it and they will come.
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snip
every single one of these people needs putting down!! aka - euthanised aka - culled I am sure bulls feel the same way about bears. |
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Very quiet here now. Are you busy buying or just not paying attention mates?
Those who are shorting should be worried. Numnumnumers. Ahuh. |
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