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Question: Sept. 21 Closing Price:
$0 - 3 (3.9%)
<$8,000 - 4 (5.3%)
$8,000-$8,500 - 1 (1.3%)
$8,500-$9,000 - 1 (1.3%)
$9,000-$9,500 - 2 (2.6%)
$9,500-$10,000 - 5 (6.6%)
$10,000-$10,500 - 13 (17.1%)
$10,500-$11,000 - 15 (19.7%)
$11,000-$11,500 - 16 (21.1%)
$11,500-$12,000 - 4 (5.3%)
>$12,000 - 7 (9.2%)
>$20,000 - 5 (6.6%)
Total Voters: 76

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21364474 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (106 posts by 21 users deleted.)
bad trader
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March 26, 2015, 08:47:11 PM

Do bears not read the news? Who in their right mind would sell right now?
Did you miss the memo? You always dump on good news!
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March 26, 2015, 08:47:24 PM

Do bears not read the news? Who in their right mind would sell right now?

one would sell to simply:

1/profit
2/load up moar lower
3/rince & repeat
luckygenough56
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March 26, 2015, 08:47:34 PM

dump this
sAt0sHiFanClub
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March 26, 2015, 08:48:42 PM

Holy crap $200 for 0.1 BTC... Buy they don't really mean anything without a seller.

It is gone, price crashed back to 500 $/BTC  Grin

From the 2014-09-30 financial statement on that page, I understand that now the fund is managed by Greyscale, and they no longer buy or sell bitcoins and no longer buy or sell shares for dollars (page 31+).  Instead, there a 1st level broker and a few 2nd level brokers (including those 4 listed on the page).  Those brokers can buy shares from Greyscale with bitcoins only, and will get bitcoins when they sell shares to Grayscale.  In other words, it is now the brokers and the investors who must buy and sell the bitcoins on exchanges; Greyscale will just keep them safely until they are redeemed or stolen.

My guess is that those bids are just the 2nd level brokers testing the system, and the bids are not being filled because the only authorized sellers are the same 2nd level brokers, and they have no shares to sell.  They must either buy some shares from Greyscale, or wait until some of the early BIT investors gives them their shares to sell.

I think you need to work on your reading comprehension.

what part did he get wrong?
empowering
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March 26, 2015, 08:49:02 PM

This DOOOM is too salty, bring me another.

Make it Shnappy.

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March 26, 2015, 08:49:09 PM

550$...
http://chineseposters.net/images/e15-478.jpg

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March 26, 2015, 08:49:48 PM

From the 2014-09-30 financial statement on that page, I understand that now the fund is managed by Greyscale, and they no longer buy or sell bitcoins and no longer buy or sell shares for dollars (page 31+).  Instead, there a 1st level broker and a few 2nd level brokers (including those 4 listed on the page).  Those brokers can buy shares from Greyscale with bitcoins only, and will get bitcoins when they sell shares to Grayscale.  In other words, it is now the brokers and the investors who must buy and sell the bitcoins on exchanges; Greyscale will just keep them safely until they are redeemed or stolen.

My guess is that those bids are just the 2nd level brokers testing the system, and the bids are not being filled because the only authorized sellers are the same 2nd level brokers, and they have no shares to sell.  They must either buy some shares from Greyscale, or wait until some of the early BIT investors gives them their shares to sell.

I think you need to work on your reading comprehension.

What did you understand from that?
hyphymikey
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March 26, 2015, 08:53:38 PM

Do bears not read the news? Who in their right mind would sell right now?

Never mind, someone picking up more shorts. Which is probably worse than selling at this point.
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March 26, 2015, 08:54:20 PM

*NLC crap*

Seriously WTF? Could we PLEASE persuade Theymos to bring back the newbie prison? My ignore list goes to DA MOON just by ignoring sockpuppets! Grin
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March 26, 2015, 08:56:27 PM

Do bears not read the news? Who in their right mind would sell right now?

Never mind, someone picking up more shorts. Which is probably worse than selling at this point.


 Roll Eyes

another bull tarp closing.

thank you bulls.
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March 26, 2015, 08:56:52 PM



http://commons.wikimedia.org/wiki/File:Antoine-Louis_Barye_-_Bull_Attacked_by_a_Bear_-_Walters_27106.jpg
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March 26, 2015, 08:58:01 PM

*NLC crap*

Seriously WTF? Could we PLEASE persuade Theymos to bring back the newbie prison? My ignore list goes to DA MOON just by ignoring sockpuppets! Grin

Do you not think that such a post just serves to further validate them? Learn to 'silently discard' as we say in the protocol world.
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1PwXK9TpmmaaqaZz2eqcLkPU2C1Fcva39G


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March 26, 2015, 08:58:49 PM

Coin
Explanation
ElectricMucus
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March 26, 2015, 08:59:15 PM




lulz
dakota neat
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March 26, 2015, 08:59:38 PM

i own nothing but bitcoin and i feel so damn good Cool
BITIsHere!!!!
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March 26, 2015, 09:01:22 PM

BITCOIN INVESTMENT TRUST IS HERE!

DID YOU BUY?
YES? GOOD!

TIME TO "SELL THE NEWS"!
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March 26, 2015, 09:10:44 PM

Wake me up when Bitcoin hit 200$ pr coin - I go to "bear"-sleep until then... (ps I have set the alarm.)
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March 26, 2015, 09:12:16 PM

this is pure speculation on my part, but in my eyes a new wave of sockpuppets is a clear indicator that things are normal in bitcoinland.

Not sure if moon is ahead, but this market has been going sideways for quite some time.
i don't know if i should read this as a stability sign, or something else, a calm period before the storm perhaps.

I bet some daytraders are not happy though.
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March 26, 2015, 09:15:17 PM

From the 2014-09-30 financial statement on that page, I understand that now the fund is managed by Greyscale, and they no longer buy or sell bitcoins and no longer buy or sell shares for dollars (page 31+).  Instead, there a 1st level broker and a few 2nd level brokers (including those 4 listed on the page).  Those brokers can buy shares from Greyscale with bitcoins only, and will get bitcoins when they sell shares to Grayscale.  In other words, it is now the brokers and the investors who must buy and sell the bitcoins on exchanges; Greyscale will just keep them safely until they are redeemed or stolen.

My guess is that those bids are just the 2nd level brokers testing the system, and the bids are not being filled because the only authorized sellers are the same 2nd level brokers, and they have no shares to sell.  They must either buy some shares from Greyscale, or wait until some of the early BIT investors gives them their shares to sell.

I think you need to work on your reading comprehension.

What did you understand from that?

Just about everything you said is wrong. You are right that Greyscale is managing the fund. Everything else is wrong.

Greyscale doesn't keep the Bitcoin safe, they exchange baskets of shares from the Bitcoin Investment Trust (BIT).

Basically, shares of GBTC are created by exchanging BIT for GBTC and destroyed by redeeming GBTC for BIT.

I'm not going to explain the entire document.


but where teh bitcoins??!
this suonds worst than MtGox's fractional reserves. Grin
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March 26, 2015, 09:16:04 PM

why are we discussing some fund that bought a lot of coins in 600 + range and is trying now to unload them to greater fools?

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