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

[HI-TEC99]

Reading this thread seems to be one of the best ways of finding out what's going on. I noticed a day after someone posts some news here story's about it start appearing on the crypto news websites. It's almost as if their author's read the latest news in this thread, then write an article about it.

[spooderman]

Reading this thread seems to be one of the best ways of finding out what's going on. I noticed a day after someone posts some news here story's about it start appearing on the crypto news websites. It's almost as if their author's read the latest news in this thread, then write an article about it.

like what? i haven't noticed that tbh. tragically i think i've read about 75% of this entire thread.

[kurious]

I was wrong. It's gone up more than 5%. But hey, its up. I'm happy I was wrong. Lets see if there will be profit taking from the insiders?

Yep in a nimute - with 5,000 BTC on stamp.

Now imagine that $300 million....  And Just so you know - the 20 billion is based on ALL THE COINS at the current price.   But all the coins are NOT on the market.

They aren't  - a percentage is.  If 5,000 BTC can do that 5% move you didn't think possible - what do you think even the rumour of $300 million 'coming soon' would do? 

Plus volume is just noise a lot of the time - $300 million coming along to BUY is another story entirely....

[york780]

300 mln a week = 3 000 000 : 1183 = 2536 btc extra per week --> this means 8.6 % GROWTH EXTRA PER WEEK Ad people still saying that ETF isnt a big deal. ETF aproved = every holder with at least 5 btc is rich af.

[gentlemand]

Reading this thread seems to be one of the best ways of finding out what's going on. I noticed a day after someone posts some news here story's about it start appearing on the crypto news websites. It's almost as if their author's read the latest news in this thread, then write an article about it.

In general I find Reddit far, far more news savvy than here. There are often lengthy threads there on subjects that haven't even been mentioned anywhere on here yet. This one bit of news though won't be slipping by.

Plus volume is just noise a lot of the time - $300 million coming along to BUY is another story entirely....

Who came up with this figure and who are they? If it's 300 million going into ETFs then that's money that never sees this market. If it's 300 million of professional speculator money looking to join in, professional speculators don't initiate pumps. They prey on them.

[jhelyn]

First time that I've seen how fast it can fall and rise then fall again in a matter of hours.
Gosh I still bought at a higher price  
Gotta hold it for while  

[york780]

10 k at the end of the year. All non believers will be destroyed.

[GGALINff]

gotta think Winklevoss is handling initial demand for shares with their own BTC
I forget,  did it say in the filing the initial amount of shares?

[blockcha1n]

If the ETF gets approved what kind of immediate pop are we looking at, $100, $200, $300?

Back down the rabbit hole we go. 

[promomei]

10 k at the end of the year. All non believers will be destroyed.

when Btc hits 21 mil coins - maybe 10 but noooo 

[kurious]

Reading this thread seems to be one of the best ways of finding out what's going on. I noticed a day after someone posts some news here story's about it start appearing on the crypto news websites. It's almost as if their author's read the latest news in this thread, then write an article about it.

In general I find Reddit far, far more news savvy than here. There are often lengthy threads there on subjects that haven't even been mentioned anywhere on here yet. This one bit of news though won't be slipping by.

Plus volume is just noise a lot of the time - $300 million coming along to BUY is another story entirely....

Who came up with this figure and who are they? If it's 300 million going into ETFs then that's money that never sees this market. If it's 300 million of professional speculator money looking to join in, professional speculators don't initiate pumps. They prey on them.

I thought if that much money comes into the ETF they have to buy more BTC to balance the fund's assets with the underlying commodity

[GreekGeek]

to whoever did this flash up and down
thanx for all the cheap fiat
I will try to catch the knife on Monday

 

[gentlemand]

I thought if that much money comes into the ETF they have to buy more BTC to balance the fund's assets with the underlying commodity

They have shares in 108,000 coins to sell first. That's worth considerably more than $300 million. The day when they have to market buy will come but it could be a long time away yet, especially if the price keeps on rising.

[DieJohnny]

I thought if that much money comes into the ETF they have to buy more BTC to balance the fund's assets with the underlying commodity

They have shares in 108,000 coins to sell first. That's worth considerably more than $300 million. The day when they have to market buy will come but it could be a long time away yet, especially if the price keeps on rising.

How does this ETF work? I thought there are fixed shares backed by fixed coins so there is no pressure on the overall bitcoin market, just a way to own coins via a third party.

[gentlemand]

How does this ETF work? I thought there are fixed shares backed by fixed coins so there is no pressure on the overall bitcoin market, just a way to own coins via a third party.

That's the idea, but they have the option to buy more coins to back more shares if people want more. I assume that's one of the main reasons why they created Gemini.

I remember reading their original application where they went into the details of the exchange options. 'Well, there's Bitstamp in Slovenia, that isn't regulated. There's BTC-e in, um, somewhere, and no one knows who runs it. Err...'

There will of course be people selling their shares too. It's quite possible it'll always be a totally self contained market that never needs a Bitcoin market buy.

[BitcoinBA]

Hi guys,

What is the official source of information about ETF result?

How will you find out?

Thanks...

[HanvanBitcoin]

Hi guys,

What is the official source of information about ETF result?

How will you find out?

Thanks...

Im checking these:

https://twitter.com/sec_news

https://www.sec.gov/news/pressreleases

[Torque]

Above Gold again. For the third time this year. Ha. Hah. Hee..ha.. urm ...^ha

So HAH!

[PoolMinor]

I thought if that much money comes into the ETF they have to buy more BTC to balance the fund's assets with the underlying commodity

They have shares in 108,000 coins to sell first. That's worth considerably more than $300 million. The day when they have to market buy will come but it could be a long time away yet, especially if the price keeps on rising.

Math is hard.....
108,000 * $1200 = $129.6 million.


Edit:
http://www.wolframalpha.com/input/?i=108000*1200

[gentlemand]

Math is hard.....

Yes it is.