Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[ChartBuddy]

Coin
Explanation

[JorgeStolfi]

Stockholm, SWEDEN (April 28, 2014) - XBT Provider AB (publ) announced today the authorization of Bitcoin Tracker One, the first bitcoin-based security available on a regulated exchange. XBT Provider is launching this financial instrument to meet the needs of investors' growing appetite for exposure to Bitcoin prices.

Looks like the Monday we were waiting for is here. CCMF?

http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201504290300HUGIN___EUPRX____HUG1916185-1

Does it have a ticker symbol yet?

Comedy moment: I got this from the table of contents of their prospectus: 

1.   SAMMANFATTNING ................................... 3
2.   RISKFAKTORER ...........ERROR! BOOKMARK NOT DEFINED.
3.   ALLMÄN INFORMATION OM PROGRAMMET   .............. 29
4.   EMITTENTEN ...................................... 34
5.   DOKUMENT FÖR VISNING AVSEENDE EMITTENTEN ........ 42

(The risks section actually begins on page 15.)

[LFC_Bitcoin]

Stockholm, SWEDEN (April 28, 2014) - XBT Provider AB (publ) announced today the authorization of Bitcoin Tracker One, the first bitcoin-based security available on a regulated exchange. XBT Provider is launching this financial instrument to meet the needs of investors' growing appetite for exposure to Bitcoin prices.

Looks like the Monday we were waiting for is here. CCMF?

http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201504290300HUGIN___EUPRX____HUG1916185-1

Edit:
More links courtesy of gotmilk from another thread.

http://www.xbtprovider.com/lang_en
http://www.kncminer.com/
http://www.nasdaqomxnordic.com/

Could be bullish?
Let's hope something can positively effect the price, Lord knows we could do with some help.
Any ideas if this will give us a decent pump?
Fingers crossed hey.

[gentlemand]

Any ideas if this will give us a decent pump?

Pumps are fleeting and are doomed to deflate. Trickles that turn into torrents are far more compelling. This and GBTC have just started with one of those irritating drips that you can never find until it's too late.

[Stevenirving]

Sideways action is killing me. Come on weekend something

[phoenix1]

Any ideas if this will give us a decent pump?

Given that this is backed by KnC, I would imagine that the demand will initially be met with their own mined coins. TBH this look to me simply like an alternative route for them to sell those coins, or rather fee-incurring paper proxies of them. Quite a smart move really, particularly for them  
If there is genuine decent demand for the product going forward, clearly that would be bullish and would necessitate buying more coins on exchange.

But the news is already out there and should be more or less priced in so I am expecting very little impact from it, unless it is an overwhelming instant success or another damp squib.

TBH, I'm leaning towards the latter ...

[ChartBuddy]

Coin
Explanation

[phoenix1]

I doubt KNC has enough coins if only small % of the money, which is used for hedging gets into. Also question is if KNC will offload their holdings at those prices.

What money you are referring to here ? <confused>

[Fatman3001]

Any ideas if this will give us a decent pump?

Given that this is backed by KnC, I would imagine that the demand will initially be met with their own mined coins. TBH this look to me simply like an alternative route for them to sell those coins, or rather fee-incurring paper proxies of them. Quite a smart move really, particularly for them  
If there is genuine decent demand for the product going forward, clearly that would be bullish and would necessitate buying more coins on exchange.

But the news is already out there and should be more or less priced in so I am expecting very little impact from it, unless it is an overwhelming instant success or another damp squib.

TBH, I'm leaning towards the latter ...

I doubt KNC has enough coins if only small % of the money, which is used for hedging gets into. Also question is if KNC will offload their holdings at those prices.

KnC has had between 5-15% of the network for the last two years, so they've earned a couple of hundred thousand coins. But they have a lot of investors who must be getting twitchy, so holding the coins forever probably isn't an option. If people trust them enough to actually buy these notes it's a brilliant way to sell some coins at a premium.

[gentlemand]

KnC has had between 5-15% of the network for the last two years, so they've earned a couple of hundred thousand coins. But they have a lot of investors who must be getting twitchy, so holding the coins forever probably isn't an option. If people trust them enough to actually buy these notes it's a brilliant way to sell some coins at a premium.

By the sounds of it, people who were denied refunds on miners that were previously used, broken or never arrived count among their unwitting 'investors'.

[ImI]

Afaik KNC dumped most of their coins as soon as they were mined and were one of the many reasons for the bearmarket imo.

[phoenix1]

KnC has had between 5-15% of the network for the last two years, so they've earned a couple of hundred thousand coins. But they have a lot of investors who must be getting twitchy, so holding the coins forever probably isn't an option. If people trust them enough to actually buy these notes it's a brilliant way to sell some coins at a premium.

Thanks for the numbers. I knew they had a lot, but not this much. IIRC they have also stated previously that they are in this for FIAT profits, not BTC, so I suspect a lot of them have already been dumped too.
Yes, there is the trust issue with KnC - certainly a couple of dark clouds lurking there

So it seems they could plausibly meet a significant demand if they chose to, and create a 'closed-loop' business model where they sell on (at a profit) a paper proxy for what they mine, charge a management fee and take no risk on price. Sounds like the kind of business an investor would like, rather than one that is purely specualting on the price of BTC.

[Fatman3001]

KnC has had between 5-15% of the network for the last two years, so they've earned a couple of hundred thousand coins. But they have a lot of investors who must be getting twitchy, so holding the coins forever probably isn't an option. If people trust them enough to actually buy these notes it's a brilliant way to sell some coins at a premium.

By the sounds of it, people who were denied refunds on miners that were previously used, broken or never arrived count among their unwitting 'investors'.

While they were screwing their customers they had several successful investment rounds resulting in  tens of millions each.

[ChartBuddy]

Coin
Explanation

[inca]

Any ideas if this will give us a decent pump?

Given that this is backed by KnC, I would imagine that the demand will initially be met with their own mined coins. TBH this look to me simply like an alternative route for them to sell those coins, or rather fee-incurring paper proxies of them. Quite a smart move really, particularly for them  
If there is genuine decent demand for the product going forward, clearly that would be bullish and would necessitate buying more coins on exchange.

But the news is already out there and should be more or less priced in so I am expecting very little impact from it, unless it is an overwhelming instant success or another damp squib.

TBH, I'm leaning towards the latter ...

News is rarely priced in.

[phoenix1]

I doubt KNC has enough coins if only small % of the money, which is used for hedging gets into. Also question is if KNC will offload their holdings at those prices.

What money you are referring to here ? <confused>

Investors in stocks, etfs... are used to hedge? They want to have wide portfolio and shares from XBT Provider can get part of this. Not saying there will be rush into, just speculating

Oh ... that money   
Peronally I would have called it diversification rather than hedging but that's kinda splitting hairs 

[YourMother]

No pump before the Sweden's Nasdaq addition of BTC

Damn, i wouldn't wanna be a leveraged bull right now. It's comin'...

[Stevenirving]

The anticipation on what is happening tomorrow should give some pump today.
I believe we will get to ~241 on that speculation alone.

[Ezmoneyezlife]

No pump before the Sweden's Nasdaq addition of BTC

Damn, i wouldn't wanna be a leveraged bull right now. It's comin'...

Who cares about some tiny exchange in a tiny country? Only ETF and stock markets collapse may create another bubble for btc but before that USMS has 40k btc waiting to be sold before the end of june as they promised, so sub 200$ is coming pretty soon.

[ChartBuddy]

Coin
Explanation