Buy bitcoins on Nasdaq

[RandyFolds]

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

The beautiful thing with bitcoin is that you may never need to liquidate them, you just simply spend them if the acceptance is enough wide, means only money inflow, no outflow

i agree that's why i collect every kind of "coin" i can get>> get it?LOL

>>NICEEEEE

Nice to see reason simply oozing through these forums. You do realize the Winklevii have investments in other Bitcoin businesses, they will not shoot themselves in the foot and compromise their investment.

Warren B and friends sey no like bitcoin pumpjobbers~ he say = Rat Poison

>>DO YOU NEED A LINK???*MUST SEE!*

Do you need a lesson in typing? Why is everything you write bolded? Is it just that. fucking. important?

[johnyj]

Warren B and friends sey no like bitcoin pumpjobbers~ he say ~> BTC = Rat Poison

>>DO YOU NEED A LINK???*MUST SEE!*

Exactly, Rat = Banks

[Inedible]

If I'm reading the filing correctly, this is essentially an ETF with BTC as a base asset. So, if this gets approved and listed, everyone will be able to buy bitcoins in any amount through their favorite broker. Institutional investors into BTC, anyone?

Trust investors will be also able to convert this instrument into underlying BTC in 10K increments. Again, this gives a clean and easy access to BTC for institutional investors.

And for every additional 50K units the trust issues, it has to buy 10K BTC on the open market. 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.

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!!!

Your crazy.. 

His crazy indeed...

[DeathAndTaxes]

Nice to see reason simply oozing through these forums. You do realize the Winklevii have investments in other Bitcoin businesses, they will not shoot themselves in the foot and compromise their investment.

Take a look at his posting history and then just click ignore.  It is nonsensical rants using broken giberish in every thread.

[Inedible]

Take a look at his posting history and then just click ignore.  It is nonsensical rants using broken giberish in every thread.

English might not be their first language.

Nonsense might be though.

[WaverleyStreet]

" Take a look at his posting history " >>

yes it i did the math on that one a few days ago= it would take a speed reader over 2 weeks(no sleep) to pull that one off!!LMFAO!!

>>WALL STREET LOVEEEEEE!!LOL!!!

[SamS]

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

The beautiful thing with bitcoin is that you may never need to liquidate them, you just simply spend them if the acceptance is enough wide, means only money inflow, no outflow

i agree that's why i collect every kind of "coin" i can get>> get it?LOL

>>NICEEEEE

Nice to see reason simply oozing through these forums. You do realize the Winklevii have investments in other Bitcoin businesses, they will not shoot themselves in the foot and compromise their investment.

It just depends on where they think they will make the greatest return and what their exit strategy is. By selling out in an IPO at market through a securities offering, they get 100% out with no slippage -- other than the offering cost which might actually be priced in as well. It's quite smart if they can get it funded and represents an enormous return on investment for them.

Their other public Bitcoin investments are substantially smaller than their "currency" profits and so they get to take money off the table and continue to play for free. They're not flooding the market with Bitcoins either -- rather the opposite in fact. And of course, like the fund in Malta, they provide a way for traders to hedge their positions by shorting the EFT.

This all seems quite reasonable to me and doesn't involve shooting anyone in the foot.

[atomium]

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?

[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.

[DeathAndTaxes]

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?

Not weeks.  Months if lucky but a year is probably more realistic.  Knowing regulators years (as in plural) would be bad but not impossible.  There is no standard time a lot depends on if regulators have questions and how quickly those questions are answered to their satisfaction, with Bitcoin and this ETF being a "first of its kind" that could mean a lot of back and forth.  Once regulators approve it, they need to find an exchange to list it.  The IPO of a major company (think facebook) can take 2-3 years.  ETFs are simpler and should be quicker, but anyone thinking "fast" is measured in days or weeks will be disappointed.

[DeathAndTaxes]

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? 

[MJGrae]

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?

Nothing happens fast when you bring in the regulators. And this certainly won't be fast due to its peculiar nature and untested ground. Expect it to take quite some time. (Months, perhaps even years. No one can say because this is such a novel concept for us all)

[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.

[DeathAndTaxes]

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. 

[Mytche]

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. 

[atomium]

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?

Not weeks.  Months if lucky but a year is probably more realistic.  Knowing regulators years (as in plural) would be bad but not impossible.  There is no standard time a lot depends on if regulators have questions and how quickly those questions are answered to their satisfaction, with Bitcoin and this ETF being a "first of its kind" that could mean a lot of back and forth.  Once regulators approve it, they need to find an exchange to list it.  The IPO of a major company (think facebook) can take 2-3 years.  ETFs are simpler and should be quicker, but anyone thinking "fast" is measured in days or weeks will be disappointed.

thanks for the answer! Hopefully it wont take years and just a couple months

[CurbsideProphet]

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.

[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?

[WaverleyStreet]

"Nothing happens fast when you bring in the regulators."

have you ever heard of a trading halt of a security~that 'ish can happen fast i'm still holding several securities that have been halted!LOL

>>WHY THIS HAPPENS EVERY TIME DOAHHH!!!

[DeathAndTaxes]

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.