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

[JorgeStolfi]

i thought BIT would open up a market for BIT shares, were people could buy and sell BIT, which should track bitcoin prices closely because its backed by bitcoin.

No, on their site they explicitly warn prospective investors that such a market for BIT shares is not in their plans, and none may develop. 

I understand that "liquidity" for an investment fund means just what I described, the investor can take money out from the fund (at the current share price) and give up his shares.  Am I wrong?

[barbs]

Greetings from my latest journey to S-E-Asia.
A full Bitcoin sponsored trip(shorting profits  )stuffed with a huge package of Acid bought with BTC.   
I just wanted to let you know that i´m still bullish about BTC after i talked to the local bulls over here,
altough it might take a few days until they will fully attack.





If you could please pump it to about 900$ that would be awesome

See you soon

Aaaand it's gone

[ShroomsKit_Disgrace]

Greetings from my latest journey to S-E-Asia.
A full Bitcoin sponsored trip(shorting profits  )stuffed with a huge package of Acid bought with BTC.   
I just wanted to let you know that i´m still bullish about BTC after i talked to the local bulls over here,
altough it might take a few days until they will fully attack.





If you could please pump it to about 900$ that would be awesome

See you soon

That is simply HILARIOUS. Fonzie, the PermaBull is a real person!

[dreamspark]

My understanding was the fund was constructed in the way Jorge describes where the investment fund can 'buy' the shares off its investors. This means that If the fund has the capital they can pay it from their fiat reserves but if not they would have to sell some BTC. May be wrong as others seem to think its more of BIT stock.

[barbs]

Btw while btc is bleeding in the street - love these posts by people who sold off to bagholders flashing cash and mansions.

So much for the dream between you guys and karplese I don't know who to thank more ;-)

[dreamspark]

Greetings from my latest journey to S-E-Asia.
A full Bitcoin sponsored trip(shorting profits  )stuffed with a huge package of Acid bought with BTC.   
I just wanted to let you know that i´m still bullish about BTC after i talked to the local bulls over here,
altough it might take a few days until they will fully attack.





If you could please pump it to about 900$ that would be awesome

See you soon

Indonesia??

[dreamspark]

Btw while btc is bleeding in the street - love these posts by people who sold off to bagholders flashing cash and mansions.

So much for the dream between you guys and karplese I don't know who to thank more ;-)

Why? If Fonzie is in indonesia which I think he is then what hes holding is worth aless than £100. But also if he is LTCVictim then he has a shit load of cash from LTC not BTC? Also if your referring to Risto in regards to the mansion he had made a lot of money from precious metals prior to BTC and its not as impressive pre photoshop 

[fonzie]

Malaysia, Cambodia, Indonesia

Right now Molucca - Ambon

 

I have nothing to do with the missing plane altough i flought with the same airline.

[jl2012]

That's completely nonsense. BIT is 100% backed by real BTC. If a customer wants to liquidate their BIT share, BIT will just sell the bitcoin at market price.

That has nothing to do with the issue.

What that "100% backed in BTC" promise means is that, for each share held by investors, BIT will keep 0.1 BTC in its posession.  It does not mean that BIT must sell those BTC when the investor liquidates; if BIT has cash reserves, it can just pay the investor from those and keep the corresponding BTCs as reserve instead. That would not violate the "100% backed by BTC" promise to other investors, on the contrary.

(The whole point of the trust is to insulate the investors from the BTC trading that BIT must do to honor BIT's part of the contract.)

I don't think so, because they do not have other source of USD. All USD from investors (with fee deducted) were spent on buying real BTC. Therefore, they have to sell the BTC if investors request for USD simply because they shouldn't have extra USD to pay

 Even if they have surplus in USD, paying out USD without selling BTC is equivalent to BIT itself investing in BTC. If they really want to do so, they can buy BTC from the open market at any time.

[adamstgBit]

[seleme]

Looks like another exchange did a runner.

Coinex.pw

[dreamspark]

Malaysia, Cambodia, Indonesia

Right now Molucca - Ambon

 

I have nothing to do with the missing plane altough i flought with the same airline.

Nice, I like Cambodia but always seem to find myself drawn to Laos the few times Ive been to SEA.

[Walsoraj]

Less than 11 mil bid sum on stamp...

Single digits by Friday 

[dreamspark]

Looks like another exchange did a runner.

Coinex.pw

"Security Issue" would have thought they would update their customers at some point in the last two days.

[barbs]

I like this wall. Going all in.

 

[adamstgBit]

were did the wall go?     

[barbs]

Sold!!!!! At 609, 500$ commission to bitstamp- holla

[dreamspark]

were did the wall go?     

It got eaten in a 540 sell.

[adamstgBit]

I like this wall. Going all in.

 

Sold!!!!! At 609, 500$ commission to bitstamp- holla

bitcoin is doomed.

[barbs]

Haha it wasn't me.. Wish I had that kind of money.