Alley
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Activity: 910
Merit: 1000
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May 05, 2015, 05:01:16 PM |
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Winklevii are probably foaming at the mouth after seeing these shares go for over double market value. Probably on the phone with the SEC right now lol.
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Paashaas
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Activity: 3569
Merit: 4708
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May 05, 2015, 05:04:47 PM |
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But Barry is the one that promised another bubble for the price so I'd think his GBTC would have something to do with it.
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windpath
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Activity: 1258
Merit: 1027
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May 05, 2015, 05:15:29 PM |
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But Barry is the one that promised another bubble for the price so I'd think his GBTC would have something to do with it.
Totally agree with Barry, in fact there will be several... But GBTC will not drive that bubble... COIN might... |
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gotmilk_
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May 05, 2015, 05:19:24 PM |
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Totally agree with Barry, in fact there will be several...
But GBTC will not drive that bubble... COIN might...
If first investors starts with arbitrage... GBTC can start it. |
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skivrmt
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May 05, 2015, 05:37:28 PM |
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Totally agree with Barry, in fact there will be several...
But GBTC will not drive that bubble... COIN might...
If first investors starts with arbitrage... GBTC can start it. Pretty crazy there's a $60 bid right now for 415 shares... |
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JorgeStolfi
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May 05, 2015, 06:32:31 PM |
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What if all people who are eligible to sell their shares have sold them?
From @jl2012's tabulation, I would think that almost all existing BIT shares are mature and could be sold by their owners. |
Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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Alley
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Activity: 910
Merit: 1000
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May 05, 2015, 06:32:48 PM |
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This just shows how undervalued bitcoin is. I guess miners and speculators are happy only getting $236 per coin. Rather then pulling there coins off the order books and letting the price go up.
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teek
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May 05, 2015, 06:51:30 PM |
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Lets see how it is in a week.. Any random altcoin generates more of everything just in the first hours, just saying.
Who knows maybe it'll catch up, but the notion that retail investors will be storming into this has been pretty much debunked now.
Sure but any random altcoin has basically infinite supply. It's just a matter of pumping and dumping that supply. Here we have the opposite problem. I see bids (way) over spot, no reasonable asks in site, any ask that even comes close to reasonable prices is immediately bought. If an ask for say 10,000 shares at $40 came up, i think it would be bought instantly and would be almost double spot.. Not sure why you think there isn't any interest, i'd say it says the opposite. |
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Wings1987
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May 05, 2015, 07:04:48 PM |
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Totally agree with Barry, in fact there will be several...
But GBTC will not drive that bubble... COIN might...
If first investors starts with arbitrage... GBTC can start it. Pretty crazy there's a $60 bid right now for 415 shares... High for the day was $94.86. Can anyone who has access to the entire order book tell us how many shares that was for? |
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teek
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May 05, 2015, 07:06:16 PM |
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Totally agree with Barry, in fact there will be several...
But GBTC will not drive that bubble... COIN might...
If first investors starts with arbitrage... GBTC can start it. Pretty crazy there's a $60 bid right now for 415 shares... High for the day was $94.86. Can anyone who has access to the entire order book tell us how many shares that was for? 100 @ 94.86$ however the actual high for the day is $175, 5 shares traded at $175 today. |
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Wings1987
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May 05, 2015, 07:17:48 PM |
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Totally agree with Barry, in fact there will be several...
But GBTC will not drive that bubble... COIN might...
If first investors starts with arbitrage... GBTC can start it. Pretty crazy there's a $60 bid right now for 415 shares... High for the day was $94.86. Can anyone who has access to the entire order book tell us how many shares that was for? 100 @ 94.86$ however the actual high for the day is $175, 5 shares traded at $175 today. That right. Only 100 share transactions or above are shown correct? |
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teek
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May 05, 2015, 07:19:25 PM |
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That right. Only 100 share transactions or above are shown correct?
Correct, odd lots aren't shown on the open/close/high but they do show up on the tape. |
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Natalia_AnatolioPAMM
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May 05, 2015, 07:44:09 PM |
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But Barry is the one that promised another bubble for the price so I'd think his GBTC would have something to do with it.
Barry knows what he's talking about |
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rocks
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Merit: 1000
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May 05, 2015, 08:02:26 PM |
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Winklevii are probably foaming at the mouth after seeing these shares go for over double market value. Probably on the phone with the SEC right now lol.
Well the twins should get off the pot and make this happen. They've been talking about it for what 2 years? If GBTC has been able to find an approval path, what is the holdup for COIN? Worse, it seems that other potential funds have taken a wait and see approach with COIN and decided to let them pave the way and follow. But if COIN does not execute that just stalls the market. The price action on GBTC is demonstrating the real investment potential that OTC markets could unlock. This needs to happen and faster. BTW, which brokers have people had success at least putting orders in? I have schwab and they are providing quotes, but are not offering trades yet. |
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prolixus
Newbie
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Activity: 18
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May 05, 2015, 08:32:17 PM |
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Winklevii are probably foaming at the mouth after seeing these shares go for over double market value. Probably on the phone with the SEC right now lol.
Well the twins should get off the pot and make this happen. They've been talking about it for what 2 years? If GBTC has been able to find an approval path, what is the holdup for COIN? Worse, it seems that other potential funds have taken a wait and see approach with COIN and decided to let them pave the way and follow. But if COIN does not execute that just stalls the market. The price action on GBTC is demonstrating the real investment potential that OTC markets could unlock. This needs to happen and faster. BTW, which brokers have people had success at least putting orders in? I have schwab and they are providing quotes, but are not offering trades yet. Actually GBTC has taken a path that doesn't require approval. They're claiming an exemption from securities regulation under Reg D which means they're only allowed to take funds directly from accredited investors and the reason the shares are subject to a restricted period. The holdup for COIN is entirely on SEC's part. The commission has the authority to simply not grant approval for as long as it wants to. |
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Mayer Amschel
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May 05, 2015, 08:35:32 PM |
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Well i hope that it rises again, i just bought quite a large bag...
HODL
- Mayer Amschel
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rocks
Legendary
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Activity: 1153
Merit: 1000
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May 05, 2015, 09:13:59 PM |
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Winklevii are probably foaming at the mouth after seeing these shares go for over double market value. Probably on the phone with the SEC right now lol.
Well the twins should get off the pot and make this happen. They've been talking about it for what 2 years? If GBTC has been able to find an approval path, what is the holdup for COIN? Worse, it seems that other potential funds have taken a wait and see approach with COIN and decided to let them pave the way and follow. But if COIN does not execute that just stalls the market. The price action on GBTC is demonstrating the real investment potential that OTC markets could unlock. This needs to happen and faster. BTW, which brokers have people had success at least putting orders in? I have schwab and they are providing quotes, but are not offering trades yet. Actually GBTC has taken a path that doesn't require approval. They're claiming an exemption from securities regulation under Reg D which means they're only allowed to take funds directly from accredited investors and the reason the shares are subject to a restricted period. The holdup for COIN is entirely on SEC's part. The commission has the authority to simply not grant approval for as long as it wants to. Thanks for the explanation, if this is the case then the SEC policy doesn't seem to make a lot of sense. After accredited investors purchase shares and hold for 1-year, they are now selling those shares to non-accredited investors on the OTC market. Which means that non-accredited investors are buying the fund in the end. The only difference for GBTC is that only accredited investors can initiate the creation of shares, but anyone can trade them. If I'm understanding this correctly is seems absurd. |
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megadeth
Sr. Member
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Activity: 289
Merit: 252
bagholder since 2013
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May 05, 2015, 09:21:44 PM |
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We'll know if the COIN ETF is likely to be approved when insiders orchestrate a massive dump for their buddies to get in.
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bagholder since 2013
My sig space is not for sale.
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ImI
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Activity: 1946
Merit: 1019
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May 05, 2015, 09:25:51 PM |
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I expect approval together with the Bitlicence which is expected end of may as Lawsky declared.
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Biodom
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Activity: 3934
Merit: 4457
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May 05, 2015, 10:21:41 PM |
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Winklevii are probably foaming at the mouth after seeing these shares go for over double market value. Probably on the phone with the SEC right now lol.
Well the twins should get off the pot and make this happen. They've been talking about it for what 2 years? If GBTC has been able to find an approval path, what is the holdup for COIN? Worse, it seems that other potential funds have taken a wait and see approach with COIN and decided to let them pave the way and follow. But if COIN does not execute that just stalls the market. The price action on GBTC is demonstrating the real investment potential that OTC markets could unlock. This needs to happen and faster. BTW, which brokers have people had success at least putting orders in? I have schwab and they are providing quotes, but are not offering trades yet. Actually GBTC has taken a path that doesn't require approval. They're claiming an exemption from securities regulation under Reg D which means they're only allowed to take funds directly from accredited investors and the reason the shares are subject to a restricted period. The holdup for COIN is entirely on SEC's part. The commission has the authority to simply not grant approval for as long as it wants to. Thanks for the explanation, if this is the case then the SEC policy doesn't seem to make a lot of sense. After accredited investors purchase shares and hold for 1-year, they are now selling those shares to non-accredited investors on the OTC market. Which means that non-accredited investors are buying the fund in the end. The only difference for GBTC is that only accredited investors can initiate the creation of shares, but anyone can trade them. If I'm understanding this correctly is seems absurd. GBTC price does not demonstrate any investment potential, it is just a perversion of free markets. GBTC has no value beside bitcoin and as such, it should be worth $23.5, NOT $55, OR bitcoin should be worth ~$550. Conclusion: GBTC at $55 (with bitcoin at $235) is an abomination. At least GLD ETF generally follows the the underlying commodity price (even with some discount due to fees) |
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