Buy bitcoins on Nasdaq

[WaverleyStreet]

While I do agree that an ETF will help with hedging investments in bitcoin, it doesn't make the price more stable which is necessary for widespread adoption and a subsequent increase in the value. People on wallstreet are not going to invest in bitcoin just because it is packaged as an ETF. For them it would be tantamount to investing in penny stocks since the ETF itself doesnt bulster the underlying value of bitcoin and there is no metric for how bitcoin should be valued.

What?  There is no metric for how any commodity should be valued.  What is the metric for the correct price of gold?  

AU (Gold) metric is at least somewhat linked to BTCitcoin because it's involved with the manufacture of computer chips!HAAA

>>SEE HOW THAT WORKS!!!

[Mytche]

Now your 401k can invest in bitcoins,  retirement funds, every wall street trader...  this is opening floodgates.

Oh interesting.  I mentioned bitcoin to my retirement fund manager in January, and she looked at me like I was crazy (of course she'd never heard of it).  A lot has happened since then.  So I wonder if I asked her now if she'd be all over it?

I know you can hold physical gold in roth wouldn't it be possible to hold Bitcoin?

Not yet however if you can get the IRS to accept the premise and someone starts a trustee which handles physical Bitcoins in a manner similar to Bullion in theory it is possible.

I don't want to get to off topic, but what if you setup an IRA LLC?

[hmmmstrange]

Can't wait until I have my IRA full of bitcoins!

[clout]

While I do agree that an ETF will help with hedging investments in bitcoin, it doesn't make the price more stable which is necessary for widespread adoption and a subsequent increase in the value. People on wallstreet are not going to invest in bitcoin just because it is packaged as an ETF. For them it would be tantamount to investing in penny stocks since the ETF itself doesnt bulster the underlying value of bitcoin and there is no metric for how bitcoin should be valued.

What?  There is no metric for how any commodity should be valued.  What is the metric for the correct price of gold? 

Yeah no shit, but its bitcoin. Not gold. Gold is valued by a historical and global consensus. If you go anywhere in the world they will know and accept gold. The same can't be said about bitcoin. There's no reason to invest in bitcoin over gold for a normal investor. For bitcoin to gain the same notoriety that gold has, it has to be used by people first; in the way that gold was primarily used as medium of exchange and not solely a store of value as it is today. To package bitcoin as an ETF is premature because it misses the necessary steps for bitcoin adoption and development. People need to interact with bitcoin in person first not through a trading mechanism.

The "normal" investor has a much wider range of options to invest in and it's clear that they're looking for alternatives.  Look at the VIX for example, the average investor can speculate on volatility.  Something doesn't have to be tangible or have a long standing history in order for it to be investable by the masses.

yeah precisely investors have a wide range of options to invest, which is why they wouldn't put there money into bitcoin. honestly i am bitcoin enthusiast and I think that crypto currencies can actually change the global economy as we know it, but if i were a portfolio manager i wouldnt put money into bitcoin even if i were looking for alternative investments. there are so many other things you can invest in. in this stage we shouldnt be thinking of crypto currencies as investments we should be thinking of them as currencies that is where there inherent value comes from, its derived from the fact that they can and will progressively improve as mediums of exchange, transcendent modern banking systems.

[Mytche]

Now your 401k can invest in bitcoins,  retirement funds, every wall street trader...  this is opening floodgates.

Oh interesting.  I mentioned bitcoin to my retirement fund manager in January, and she looked at me like I was crazy (of course she'd never heard of it).  A lot has happened since then.  So I wonder if I asked her now if she'd be all over it?

I know you can hold physical gold in roth wouldn't it be possible to hold Bitcoin?

Not yet however if you can get the IRS to accept the premise and someone starts a trustee which handles physical Bitcoins in a manner similar to Bullion in theory it is possible.

I don't want to get to off topic, but what if you setup an IRA LLC?

did some reading and it looks like -- your statement is right "not yet" even in an IRA LLC

[vokain]

Can't wait until I have my IRA full of bitcoins!

Bitcoins are my IRA

[Foxpup]

Also known as how do you exit an illiquid market without destroying the price...

I don't think so, this is very expensive and time consuming way to sell their position.  It would be much cheaper and easier to arrange a series of private deals. 

It would not be cheaper. Simply selling that many coins will cause the price to crash, which is bad news for the seller. When you want to make a ton of money out of a multi-million dollar asset that can't easily be liquidated, an IPO is usually the standard "exit strategy", as difficult and time consuming as it may be.

[cypherdoc]

Just thought of this...

This will force the regulators hands in making a decision no?

They will have to define it as some kind of asset at the least.

Good bad or otherwise we will know soon what bitcoin is or isn't

forcing them to make a decision as to exactly what THEY think Bitcoin is will only be good.  why?  b/c it will paint them into a corner which they won't be able to get out of and which Bitcoin will then route around. 

they currently are getting away with calling Bitcoin whatever they want at this point in the name of regulating it every which way.

[clout]

While I do agree that an ETF will help with hedging investments in bitcoin, it doesn't make the price more stable which is necessary for widespread adoption and a subsequent increase in the value. People on wallstreet are not going to invest in bitcoin just because it is packaged as an ETF. For them it would be tantamount to investing in penny stocks since the ETF itself doesnt bulster the underlying value of bitcoin and there is no metric for how bitcoin should be valued.

What?  There is no metric for how any commodity should be valued.  What is the metric for the correct price of gold?  

Yeah no shit, but its bitcoin. Not gold. Gold is valued by a historical and global consensus. If you go anywhere in the world they will know and accept gold. The same can't be said about bitcoin. There's no reason to invest in bitcoin over gold for a normal investor. For bitcoin to gain the same notoriety that gold has, it has to be used by people first; in the way that gold was primarily used as medium of exchange and not solely a store of value as it is today. To package bitcoin as an ETF is premature because it misses the necessary steps for bitcoin adoption and development. People need to interact with bitcoin in person first not through a trading mechanism.

Well I would argue that Bitcoin is accepted more place than gold.  Let me know where I can buy a domain name with Gold.  Still since you are clinging to the value as a medium of exchange which has nothing to do with proper price (your claim) lets use copper instead.

What is the metric for the proper price of copper.  Is copper properly priced right now according to your magical pricing metric.  If not then how/why are there copper financial instruments.  Without knowing what the proper price is nobody would buy it, hence there is absolutely no volume on any copper instruments.  Er wait yes there is.  

i dont think you understand how commodities are traded. copper is completely different than gold and bitcoin. gold isnt like most comodities because it doesnt really have an industrial use, only 10% of it is used in such a way. the price of gold is based on historical prices of gold in the context of the global econonomy. the historical price trends are used to predict future prices of gold, from which the current price is derived. there are mechanisms to valuing gold. you essentially value gold based on how you believe other people will perceive the importance of gold compared to other investments.

copper on the other hand is valued by its current and future industrial usage. its pretty easy to evaluate that.

bitcoin is like gold, in so far as it is a safe haven when other stores of value loose their value. this is why the price went up with the cyprus crisis, which is comparable to the price of gold going on a steady upward trend after the global economic crisis of 2008. the problem with valuing bitcoin is that you dont know how people are going to perceive its future value nor do you even know if they will adopt it as a currency.

bitcoin is not the same as commodities.  

also bitcoin is not accepted more places than gold, thats a completely fallacious statement

[QuestionAuthority]

Are there mods working here anymore? I really wanted to read this thread but its polluted with garbage. It's like looking at an ignore wall with the occasional post!

@DnT

You mentioned that different agencies will likely define Bitcoin in different ways and I agree with you. What do you think the correct definition, or should I say most favorable definition, of Bitcoin is and do you see a way of presenting that definition to different departments (like a letter campaign) to help speed along the correct legal perception of Bitcoin?

[WaverleyStreet]

While I do agree that an ETF will help with hedging investments in bitcoin, it doesn't make the price more stable which is necessary for widespread adoption and a subsequent increase in the value. People on wallstreet are not going to invest in bitcoin just because it is packaged as an ETF. For them it would be tantamount to investing in penny stocks since the ETF itself doesnt bulster the underlying value of bitcoin and there is no metric for how bitcoin should be valued.

What?  There is no metric for how any commodity should be valued.  What is the metric for the correct price of gold?  

Yeah no shit, but its bitcoin. Not gold. Gold is valued by a historical and global consensus. If you go anywhere in the world they will know and accept gold. The same can't be said about bitcoin. There's no reason to invest in bitcoin over gold for a normal investor. For bitcoin to gain the same notoriety that gold has, it has to be used by people first; in the way that gold was primarily used as medium of exchange and not solely a store of value as it is today. To package bitcoin as an ETF is premature because it misses the necessary steps for bitcoin adoption and development. People need to interact with bitcoin in person first not through a trading mechanism.

The "normal" investor has a much wider range of options to invest in and it's clear that they're looking for alternatives.  Look at the VIX for example, the average investor can speculate on volatility.  Something doesn't have to be tangible or have a long standing history in order for it to be investable by the masses.

yeah precisely investors have a wide range of options to invest, which is why they wouldn't put there money into bitcoin. honestly i am bitcoin enthusiast and I think that crypto currencies can actually change the global economy as we know it, but if i were a portfolio manager i wouldnt put money into bitcoin even if i were looking for alternative investments. there are so many other things you can invest in. in this stage we shouldnt be thinking of crypto currencies as investments we should be thinking of them as currencies that is where there inherent value comes from, its derived from the fact that they can and will progressively improve as mediums of exchange, transcendent modern banking systems.

yeah reel talk- we looked at BTC as being a wildly speculative buy@$10 pps i was dding mostly inspired to buy cheap drugs to flip somehow but the quality sucked and ravers nowadaze with those damn new police type testing kits = game 0ver!

>>WTF!!!LOL

[johnyj]

From numbers, they actually own 200,000 bitcoins, seems that all their coins went into this IPO

[BitTrade]

yes i will modding that board for sure will be like so much fun Erics' funny money at work!!LOL

>>LOVE IN IT!!!!****FREAKING AWESOME LINK BRUDDA!!!!!!

Eric V. and friends are controlling somewhere around half of all BTC -Bitcoins ever produced so he has many to get rid of that's why it's backdoor reboot command executed via satoshi himself!!!LOL

>>WTF!!!

Bitcoin promoters are just like the geek version of pennystock cults with all the hype, pumping and lack of integrity!!LOL

>>WTF!!!

Can someone ban this guy?  Or at least disable his "bold" function?

[WaverleyStreet]

" copper is completely different than gold and bitcoin. gold isnt like most comodities because it doesnt really have an industrial use, only 10% of it is used in such a way. the price of gold is based on historical prices of gold in the context of the global econonomy. the historical price trends are used to predict future prices of gold, from which the current price is derived. there are mechanisms to valuing gold. you essentially value gold based on how you believe other people will perceive the importance of gold compared to other investments.

copper on the other hand is valued by its current and future industrial usage. its pretty easy to evaluate that. "



====>


Aztecs worked with both gold, copper and other precious metals-also they believed mushroom spores came from outer space..,,wait before i go in deep~if you are interested you might read this!!!LOL

http://www.scribd.com/doc/2815953/Refining-Precious-Metal-Wastes-C-M-Hoke


>>>HAVE FUN MELTING YOUR FACE OFF!!!

[btceic]

does anyone know how long it will take the SEC to approve this and have them traded publicly? Is this done fast or does it take weeks/months?

go read up on the siriusxm fiasco, took them years to approve that effn merger.

[vokain]

does anyone know how long it will take the SEC to approve this and have them traded publicly? Is this done fast or does it take weeks/months?

go read up on the siriusxm fiasco, took them years to approve that effn merger.

Did it take them years to approve because it was a fiasco, or vice versa

[btceic]

does anyone know how long it will take the SEC to approve this and have them traded publicly? Is this done fast or does it take weeks/months?

go read up on the siriusxm fiasco, took them years to approve that effn merger.

Did it take them years to approve because it was a fiasco, or vice versa

it took them years to approve it because the sec and the doj are a joke.

[shibaji]

Pretty hilarious - I wonder how they are going to keep the regulatory filings up to date, and what sort of growth they project.

[Luckybit]

...Once this works, resulting demand for BTC will be absolutely unimaginable for anyone involved in BTC trading right now. 260 usd/btc bubble top? We haven't seen nothing yet, mark my words.

I agree. Once BTC gets more mainstream to these big money investors.. $260 will seem like 'back in the days when it was only $260'

$2600 is more like what we will see once the institutional investors get in.

[SoylentCreek]

...Once this works, resulting demand for BTC will be absolutely unimaginable for anyone involved in BTC trading right now. 260 usd/btc bubble top? We haven't seen nothing yet, mark my words.

I agree. Once BTC gets more mainstream to these big money investors.. $260 will seem like 'back in the days when it was only $260'

$2600 is more like what we will see once the institutional investors get in.

No! That's not how we do it. $260,000 per coin!