Really interesting news, if true. This could really spark an interesting discussion if you hadn't posted it in the gambling section.
Well don't take my word for it, I'm sure somebody will confirm it or will find some open to the unregistered public info about it. What's this got to do with Gambling section? |
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I am looking at the link that you provided and I do not see anything related to bitcoin or the project that you mentioned, can you provide a better link or where you saw that information?
You might need to sign up for the course. I only know it because I'm doing it. It's the final project developed over the whole course, and students get ranked by BTC raised and social media activity. I think there are even prizes to be won. Homework 3 out at the moment is the first part on building the basics for the site, so things will start ramping up soon. If noone else does ill post more details when I'm back at my PC. |
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Yes, I will buy all bitcoins I can now, thank you for that thread. By tomorrow the price will be over 9k  Haha. Yeah. I know a bit ridiculous ey. Doesn't really matter what you say on here no matter how legit. One thing I've noticed is that very few people if any on this forum actually are big traders so can't really influence the price. You'd hope they'd read it but I guess they get better info from somewhere than the tripe that is posted on here. Anyway my hype aside, I invite people to discuss this on its merits. |
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Well, I'm shocked that this hasn't been bigger news on the speculation forum, and I was hoping the price would drop a little before I brought it up, but Startup Engineering, a major online and on campus course run by Stanford University yes , the same one where all the kids got rich making facebook apps is running a course on how to build a Startup from the ground up. And guess what the major project is? A Bitcoin based Crowd Funding site!!!Think about it over 140,000 highly motivated independent entrepreneurs are learning how to build apps for bitcoin! Granted 90% will probably drop out, or have no interest in bitcoin.... But what about the remaining 10%?? 10% of 100k is still 14,000 entrepreneurs. Even if only 90% of those are failures or move onto better things This still leaves 1,400 of the most capable people on earth who are now building new things for bitcoin. An amazing number. At the very least we'll get a new crowdfunding site out of it that will trump anything out there at present. At best we could see a whole new bubble of innovation get spawned from this. Not to mention the crowdfunding site in itself will spawn innovation. I'm cancelling my sell orders. It's only up up up from here! http://startup.stanford.edu/ |
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500 Wall keeps coming and going, started at 78.7, see it now at 77.9
I hate those indecisive moving mini-walls. Somebody should just dump 500 coins into it already! not sure what this for.. to trick people into dumping and then suddenly get price down.. or to fake support to keep price up .. lol fascinating though Yeah it's kind of odd... Bot gone rogue? Maybe it's trying to encourage someone to dump into it, thus buying coins without driving the price up |
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The more and more I think about it, this ETF is great news for bitcoins.
If approved, this will give BTC real legitimacy, and become a major consumer of BTC.
BTC that makes it into the ETF is no longer being sold on Gox, and not in circulation.
It's like somebody coming in and buying up all the gold.
There will be less gold for the people who actually want to use it for legitimate purposes, or illegitimate purposes, and so the price will no doubt rocket up to a point where we're all doing transactions with mili BTC.
My thoughts.
The leading gold trust holds $39,851.9 M worth of gold, the leading silver trust $6,239.7 M. BTC is can be a store of value just like gold. Except it's much more than that. A crypto currency is a lot more useful / versatile than gold is in the 21st century.. BTC can be moved anywhere in the world instantly, whereas gold has to be carried.
If I had money in the gold trust, and bitcoin actually made it as an ETF why wouldn't I hedge my bets. After all it's just as scarce, and one day we probably will find a way to make gold cheaply.
Anyway I'd like to hear some scenarios with what could happen with this ETF, and how quickly people think it's likely to grow.
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Man this news is massive.. It's broken on so many major news outlets. It's been ages since any bitcoin news did that.
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The other question that pops into my mind is what if, what if the Winklevii don't have the BTC to back it.
Seems unlikely... but according to the press they only had $10Million back in April (during the bubble!)
That doesn't equate to 200k worth today.
If they didn't have more, doesn't that mean the trust's would need to buy BTC?
That would inevitably cause a price rally
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I dont actually belive this. But one could argue that goxxers will remove their bids and buy the etf if gox rallies, making the etf functionally the same as a gox dump.
Any price change on Gox is likely to be reflected in the ETF. Similarly if people want to buy on the ETF, they'll effectively end up buying from Gox. I think we'll see what the real deal is when NY wakes up. Personally I think this is the biggest news for BTC in a while, it opens it up to a whole new market, a market where people have serious coin |
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[ edit: did I miss something while being away from the forum for a while: would the OP be a known troller? ]
Yes. Look at his previous posts and you'll see. |
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Or you can see it as a pseudo-sell of 200k coins.
Well perhaps. But at least they're not dumping them onto Gox. I don't think they just suddenly decided to turn bear onto BTC. They must have been planning this from the start. In practical terms it can only push the price up |
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Man I keep ignoring / unignoring you. I know whatever you're going to say is rubbish, but sometimes I can't help but look.
We need a more powerful ignore function!!
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So overall this is an incredibly good thing right?
The buying behaviour of the trust is likely to inflate the price of BTC, without really doing anything that could negatively affect it.
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Man this news is breaking hard.. Getting some major coverage now.
I'd say the biggest positive news for bitcoin in months!!!
Some of the biggest news in fact, compared with the nonsense FUD news like California sues bitcoin foundation. Seems like a joke
I reckon we'll be back at 100+ soon.
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After all it's effectively stating that the opening price of BTC is $100.45 no?
This could be a sneaky way to cap the price while they buy up more BTC
No. The s-1 indicates the quoted price used was solely for the purpose of paying the registration fee. If approved by regulators and an exchange shares will be priced at the current exchange rate. I mean say BTC price falls 30% over the next six months you really think institutional investors are going to buy millions of USD worth of BTC paying a 35% to 40% premium over face value? aha, thanks for clarifying. Perhaps you can explain how the trust will buy new BTC. Say my retirement fund allocates 1% of it's high risk package to BTC. That would no doubt increase the price of the winkelvii stock above the market price of BTC, how do they compensate for that? |
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It is not doubt that most people come to BTC is because they think they can get rich on it.(Based on fiats) if the liquidity methods are restricted, which part makes you think 100 millions of USD will be put in ? and the video is prior than MTGOX issues its restriction on the withdraw. Well if the winklevii twins thing happens there will suddenly be no liquidity problems (for investors). That problem will be solved, and suddenly there will be a whole bunch of institutions (not just people) drawn to BTC, because they think it could make their investors rich. They sell their BTC as a trust fund, and that looks like nothing to do with our coins...if they got approve,then it is mean people who buying their coins can instantly cash in or out...but it will be a good mile stone for sure, because it may replace MT.GOX as a new price index.... I will be more than happy , I hate people in MT.GOX, especially those speculators, they look like playing a game like who get sold first and who buy back at lowest, again and again ,those guys creating volatility and destroying the faith of long term investors, and scary potential investors. Well I think it has everything to do with us and Mt. Gox because as I understand it the trust will buy more coins? At the end of the day those coins have to come from somewhere, and until something better comes along Gox no doubt will be one of its sources. |
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It is not doubt that most people come to BTC is because they think they can get rich on it.(Based on fiats) if the liquidity methods are restricted, which part makes you think 100 millions of USD will be put in ? and the video is prior than MTGOX issues its restriction on the withdraw. Well if the winklevii twins thing happens there will suddenly be no liquidity problems (for investors). That problem will be solved, and suddenly there will be a whole bunch of institutions (not just people) drawn to BTC, because they think it could make their investors rich. Seriously, if I ran a retirement fund. I'd be crazy to not put at least some BTC in the basket (at least for the high risk options). The potential longterm potential upside is huge, and it's only the long term that you care about when you're retiring right? BTC certainly is part of my retirement strategy... Shit no doubt some people have already retired off it. |
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It is not doubt that most people come to BTC is because they think they can get rich on it.(Based on fiats) if the liquidity methods are restricted, which part makes you think 100 millions of USD will be put in ? and the video is prior than MTGOX issues its restriction on the withdraw. Well if the winklevii twins thing happens there will suddenly be no liquidity problems (for investors). That problem will be solved, and suddenly there will be a whole bunch of institutions (not just people) drawn to BTC, because they think it could make their investors rich. |
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You know what, I agree with everyone that the price has been going down.. The charts don't lie, do they.
The real question for me is, when is the price going to start going up.
It could be any time.
That's what really scares me.
88 could be the bottom, and then I decide to sell because it suddenly blips to 93...
Except it's not 93, it jumps to 97... Well that's too high right, too high to buy back.
Then for some reason it keeps going, 110, 115.
Prices that seem ludicrous and a massive loss to be taken if the price comes back to 88 as I was previously expecting it to..
The way I see it BTC isn't going away overnight (hopefully), and the upside is the most radical thing about BTC, not the downside.
Unless the exchanges shut down, with the new interest in BTC, I don't think we're ever going back below 50 so the question is how close can we get before another rally starts?
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