gentlemand
Legendary
 Offline
Activity: 2590
Merit: 3014
Welt Am Draht
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March 10, 2017, 03:16:12 PM |
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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. |
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jhelyn
Newbie
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Activity: 31
Merit: 0
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March 10, 2017, 03:21:42 PM |
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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  |
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york780
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March 10, 2017, 03:23:35 PM |
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10 k at the end of the year. All non believers will be destroyed.
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GGALINff
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March 10, 2017, 03:24:08 PM |
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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?
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blockcha1n
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March 10, 2017, 03:25:15 PM |
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If the ETF gets approved what kind of immediate pop are we looking at, $100, $200, $300?
Back down the rabbit hole we go.  |
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promomei
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March 10, 2017, 03:26:29 PM |
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10 k at the end of the year. All non believers will be destroyed.
when Btc hits 21 mil coins - maybe 10 but noooo  |
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kurious
Legendary
Offline
Activity: 2590
Merit: 1643
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March 10, 2017, 03:28:48 PM |
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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 |
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GreekGeek
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March 10, 2017, 03:29:51 PM |
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to whoever did this flash up and down thanx for all the cheap fiat I will try to catch the knife on Monday  |
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gentlemand
Legendary
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Activity: 2590
Merit: 3014
Welt Am Draht
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March 10, 2017, 03:30:44 PM |
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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. |
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DieJohnny
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Activity: 1639
Merit: 1006
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March 10, 2017, 03:34:01 PM |
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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. |
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gentlemand
Legendary
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Activity: 2590
Merit: 3014
Welt Am Draht
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March 10, 2017, 03:40:26 PM |
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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. |
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BitcoinBA
Member
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Activity: 74
Merit: 10
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March 10, 2017, 04:07:29 PM |
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Hi guys,
What is the official source of information about ETF result?
How will you find out?
Thanks...
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Torque
Legendary
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Activity: 3598
Merit: 5069
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March 10, 2017, 04:18:18 PM |
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Above Gold again. For the third time this year. Ha. Hah. Hee..ha.. urm ...ha
So HAH!
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PoolMinor
Legendary
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Activity: 1843
Merit: 1338
XXXVII Fnord is toast without bread
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March 10, 2017, 04:20:27 PM |
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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 |
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gentlemand
Legendary
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Activity: 2590
Merit: 3014
Welt Am Draht
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March 10, 2017, 04:22:22 PM |
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Math is hard.....
Yes it is. |
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JimboToronto
Legendary
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Activity: 4032
Merit: 4569
You're never too old to think young.
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March 10, 2017, 04:36:56 PM |
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Good morning Bitcoinland. I see things haven't changed much since I went back to bed... $1226USD (Bitcoinaverage). It's gone back to pretty much sideways after the crazy spikes up and down 3 hours ago. I haven't mentioned coffee in months but I think I need a cup now. This could be a long day.  |
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HanvanBitcoin
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March 10, 2017, 04:39:06 PM |
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Good morning Bitcoinland. I see things haven't changed much since I went back to bed... $1226USD (Bitcoinaverage). It's gone back to pretty much sideways after the crazy spikes up and down 3 hours ago. I haven't mentioned coffee in months but I think I need a cup now. This could be a long day.  |
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JimboToronto
Legendary
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Activity: 4032
Merit: 4569
You're never too old to think young.
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March 10, 2017, 04:46:57 PM |
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Thanks. It must be a lucky mug... the price rose $15 while I was putting the pot on.  |
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GGALINff
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March 10, 2017, 04:47:28 PM |
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GBTC premium just spiked down
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