GBTC Bitcoin Investment Trust Observer

[Zangelbert Bingledack]

https://blockchain.info/address/15c2N528gELxafSDZyKgJeVBYujtpH8cx4

Is this their address? And why was most of it just moved?

[jl2012]

https://blockchain.info/address/15c2N528gELxafSDZyKgJeVBYujtpH8cx4

Is this their address? And why was most of it just moved?

obviously not. This address has been in use since 2012

[bitcodo]

Not good with paint, but I guess you get my point.

[Apostata]

Not good with paint, but I guess you get my point.

Is QKOS related to second market?

[jl2012]

OP updated. BIT bought 3000XBT yesterday

[Zangelbert Bingledack]

[600watt]

the timing is big with this one...

respect, mr silbert.

[True___Blue]

So wtf is an XBT and how is it influencing the price of BTC?

[600watt]

So wtf is an XBT and how is it influencing the price of BTC?

XBT = BTC   

just different naming

[True___Blue]

So wtf is an XBT and how is it influencing the price of BTC?

XBT = BTC   

just different naming

oh, then it makes more sense.  I don't see the point of buying "shares" of Secondmarket when you could buy actual bitcoin, but whatever works.

[drnick]

oh, then it makes more sense.  I don't see the point of buying "shares" of Secondmarket when you could buy actual bitcoin, but whatever works.

I think buying shares opens it up to tax-free retirement accounts.

[Apostata]

Anyone know how they calculate Net Asset Value? On the site it says it explained in th private placement memorandum, which you need an account to see.

Typically with ETFs the net asset value is equal to the total value of the fund divided by the number of outstanding and issued shares.  Second Market bitcoin invenstment trust issue shares called "BIT's", and 1 BIT share is equal to .1 BTC.  Therefore the fund has 590,140 shares issued and outstanding, with total value of $41.9 million, with a $71 NAV

[Zangelbert Bingledack]

Max Keiser interviews Second Market's Barry Silbert:

http://www.youtube.com/watch?v=V5azCsoadoc&t=13m5s


He says he bought in years ago. I wonder if he's another of the Bitcoin rich.

[mccoyspace]

Max Keiser interviews Second Market's Barry Silbert:

http://www.youtube.com/watch?v=V5azCsoadoc&t=13m5s


He says he bought in years ago. I wonder if he's another of the Bitcoin rich.

I think he is just one of the merely rich.

[jl2012]

OP updated. 1kXBT bought on 25 Nov.

[BitChick]

So wtf is an XBT and how is it influencing the price of BTC?

XBT = BTC    

just different naming

Any reason for the X and removal of the C?  Just curious.  

[jl2012]

So wtf is an XBT and how is it influencing the price of BTC?

XBT = BTC    

just different naming

Any reason for the X and removal of the C?  Just curious.  

http://en.wikipedia.org/wiki/ISO_4217

X means non-sovereign currency. And XBC is already occupied

It is not offical ISO4217 code yet, but xe.com has adopted XBT as the code for bitcoin: http://www.xe.com/currency/xbt-bitcoin

[600watt]

silbert bought 60k btc in 60 days?


wow.

all miners do 3600 a day. when halving comes around that will shrink to 1800 per day. we all remember what happened after the last halving.


we need a new word:

to silberting

when one buys a massive amount of bitcoin so regurlaly, that it acts almost like a halving.


"barry is silbertingin´again"    

[Zangelbert Bingledack]

[Kaiji]

For the economically illiterate, what is secondmarket? How can you sell shares in bitcoin? Is it an investment in a mining company?