coinableS
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April 28, 2015, 02:26:55 AM |
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I know this ETF isn't perfect and it's quite remarkable things have moved this far, but if these delays persist, it's a really less-than-perfect way to trade BTC. But it's not an ETF...
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gotmilk_
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April 28, 2015, 02:49:17 PM |
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Someone is buying 50k at 35$
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Patel
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Activity: 1321
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April 28, 2015, 02:49:55 PM |
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A bid for 5000 btc worth of shares at 350
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jerk
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April 28, 2015, 03:18:34 PM |
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this could get interesting if we get some asks!
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jl2012 (OP)
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April 28, 2015, 04:12:01 PM |
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A bid for 5000 btc worth of shares at 350
That's really interesting. I suppose bidders are required to have 100% USD on OTC Markets?
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Donation address: 374iXxS4BuqFHsEwwxUuH3nvJ69Y7Hqur3 (Bitcoin ONLY) LRDGENPLYrcTRssGoZrsCT1hngaH3BVkM4 (LTC) PGP: D3CC 1772 8600 5BB8 FF67 3294 C524 2A1A B393 6517
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criptix
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April 28, 2015, 04:23:32 PM |
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A bid for 5000 btc worth of shares at 350
^_+ JK Bears
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Biodom
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April 28, 2015, 04:25:01 PM |
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A bid for 5000 btc worth of shares at 350
That's really interesting. I suppose bidders are required to have 100% USD on OTC Markets? As GBTC is simply a 1/10 of a bitcoin held for more than 1 year, if such bid ($350) persists, it would indicate a 36% premium. Reason? i don't think that it will stand for long.
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JorgeStolfi
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April 28, 2015, 04:41:39 PM |
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A bid for 5000 btc worth of shares at 350
That's really interesting. I suppose bidders are required to have 100% USD on OTC Markets? As GBTC is simply a 1/10 of a bitcoin held for more than 1 year, if such bid ($350) persists, it would indicate a 36% premium. Reason? i don't think that it will stand for long. The idea is that IRAs can be put into BIT shares (with some indirection) but not into raw BTCs, so there is a potentially large market for the former that is not available for the latter. Also the supply of BIT shares is rather small and fixed because of the 12 months "maturation" period.
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Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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Kupsi
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9.9.2012: I predict that single digits... <- FAIL
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April 28, 2015, 05:08:10 PM |
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Also the supply of BIT shares is rather small and fixed because of the 12 months "maturation" period.
New BIT shares can be created tomorrow, sold to accredited investors, but they can't be sold on the OTC Market for the next 12 months.
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Alley
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April 28, 2015, 06:44:32 PM |
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That's a bid for 1.75 million. Just think when the true ETF COIN comes online and a bid like that comes in. They will have to buy 5000 bitcoins right off the open market to cover the shares.
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Patel
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April 28, 2015, 07:36:23 PM |
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That's a bid for 1.75 million. Just think when the true ETF COIN comes online and a bid like that comes in. They will have to buy 5000 bitcoins right off the open market to cover the shares.
I don't think the SEC would approve a bitcoin etf
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Chef Ramsay
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April 28, 2015, 09:20:30 PM |
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That's a bid for 1.75 million. Just think when the true ETF COIN comes online and a bid like that comes in. They will have to buy 5000 bitcoins right off the open market to cover the shares.
I don't think the SEC would approve a bitcoin etf I'm almost sure they will as I don't think that heavyweight attorney that specializes in this kind of thing has no influence/colleagues in the SEC nor would she take on a knowingly failed case just for extra money because she has a reputation to upkeep. We're not talking defense attorneys here. Wall Street hedge funds have invested in lots of garbage like mortgage-backed securities, derivatives and other worthless junk so they need something like Bitcoin in their portfolio to provide an upside to their valuations as well as something more to sell to their clients who don't want direct exposure to Bitcoin itself.
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pinky
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April 28, 2015, 09:43:57 PM |
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That's a bid for 1.75 million. Just think when the true ETF COIN comes online and a bid like that comes in. They will have to buy 5000 bitcoins right off the open market to cover the shares.
I don't think the SEC would approve a bitcoin etf I'm almost sure they will as I don't think that heavyweight attorney that specializes in this kind of thing has no influence/colleagues in the SEC nor would she take on a knowingly failed case just for extra money because she has a reputation to upkeep. We're not talking defense attorneys here. Wall Street hedge funds have invested in lots of garbage like mortgage-backed securities, derivatives and other worthless junk so they need something like Bitcoin in their portfolio to provide an upside to their valuations as well as something more to sell to their clients who don't want direct exposure to Bitcoin itself. If big boys (NY banks) want it, they will have it, else forget about it.
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marcus_of_augustus
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Eadem mutata resurgo
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April 28, 2015, 09:45:32 PM |
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That's a bid for 1.75 million. Just think when the true ETF COIN comes online and a bid like that comes in. They will have to buy 5000 bitcoins right off the open market to cover the shares.
I don't think the SEC would approve a bitcoin etf .... it's a done deal.
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Patel
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Activity: 1321
Merit: 1007
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April 29, 2015, 12:12:50 AM |
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That's a bid for 1.75 million. Just think when the true ETF COIN comes online and a bid like that comes in. They will have to buy 5000 bitcoins right off the open market to cover the shares.
I don't think the SEC would approve a bitcoin etf .... it's a done deal. why do you say that?
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minerpumpkin
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April 29, 2015, 12:35:21 AM |
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That's a bid for 1.75 million. Just think when the true ETF COIN comes online and a bid like that comes in. They will have to buy 5000 bitcoins right off the open market to cover the shares.
I don't think the SEC would approve a bitcoin etf I'm almost sure they will as I don't think that heavyweight attorney that specializes in this kind of thing has no influence/colleagues in the SEC nor would she take on a knowingly failed case just for extra money because she has a reputation to upkeep. We're not talking defense attorneys here. Wall Street hedge funds have invested in lots of garbage like mortgage-backed securities, derivatives and other worthless junk so they need something like Bitcoin in their portfolio to provide an upside to their valuations as well as something more to sell to their clients who don't want direct exposure to Bitcoin itself. Yup, I also think that the Coin ETF will go live at some point. Right now it's still too early to really anticipate and predict what's going to happen when it does, but it just could get really really interesting, like - big time. I also love Bitcoin, but I think it's also too early to praise it as the best thing since bread came sliced. Even though other financial products may be worse...
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I should have gotten into Bitcoin back in 1992...
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Cconvert2G36
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April 29, 2015, 01:09:25 AM |
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Updated(!) Puma Capital, LLC 100 38.00 Canaccord Genuity Inc 100 37.50 Citadel Securities 100 36.00 KCG Americas LLC 100 35.55 Maxim Group LLC 50000 35.00 Wedbush Securities Inc 100 31.50 Cantor Fitzgerald & Co 100 25.00 Merriman Curhan Ford & Co 100 20.00
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minerpumpkin
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April 29, 2015, 01:28:05 AM |
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Updated(!) Puma Capital, LLC 100 38.00 Canaccord Genuity Inc 100 37.50 Citadel Securities 100 36.00 KCG Americas LLC 100 35.55 Maxim Group LLC 50000 35.00 Wedbush Securities Inc 100 31.50 Cantor Fitzgerald & Co 100 25.00 Merriman Curhan Ford & Co 100 20.00
Wow! So people outbid Maxim, already? Unfortunately 'only' with bids of 100 shares. Still, this is really impressive... I still can't really wrap my head around why they would pay this much of a premium. It can't solely be the convenience of buying using an ETF, can it? I mean, if they really wanted to get their hand on some BTCs, they surely would jump through the hoops of a regular BTC exchange.
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I should have gotten into Bitcoin back in 1992...
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Alley
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April 29, 2015, 01:41:46 AM |
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This is probably the only way to invest there clients 401k and IRA retirement money in bitcoin. I cant just withdraw money out ok my IRA and buy bitcoin. But i can choose where my money is invested without penalty. And that way is pre tax.
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