GBTC Bitcoin Investment Trust Observer

[BitAddict]

Any update for the last six days?
I'm really curious

[jl2012]

Any update for the last six days?
I'm really curious

Updated. Around 200XBT bought since last update

I stop update usually because nothing interesting happened

[BitAddict]

Any update for the last six days?
I'm really curious

Updated. Around 200XBT bought since last update

I stop update usually because nothing interesting happened

Thanks a lot!
Market seems to be sleeping before deciding where to move.

[jzcjca00]

Thanks for being so on top of this. This is one of the most useful thread's in the speculation sub-forum.

I think this is the single most important thread in all of bitcointalk.org.  While there are hundreds of threads predicting rising prices, this one gives real data on Wall Street adoption.  Keep up the great work!

[TERA]

Is SecondMarket contacting Mtgox liquidator?

[Melbustus]

Thanks for being so on top of this. This is one of the most useful thread's in the speculation sub-forum.

I think this is the single most important thread in all of bitcointalk.org.  While there are hundreds of threads predicting rising prices, this one gives real data on Wall Street adoption.  Keep up the great work!

Agree that this is one of the most important non-technical/dev threads on this board. But it's not yet quite an indicator of Wall St. interest; at least not full-on institutional interest/behavior. The SecondMarket Trust is open to accredited investors. Most of those are simply going to be reasonably well-off *individuals*.

The reason why I think this thread is so important is because those individuals are likely more connected and more savvy than most investors. Likely more savvy than most institutional investors due to having no encumbrances on their money (quarterly reports, position sizing, SEC considerations, etc). And as a sidenote: on some of the most bearish days in this spec sub-forum filled with (presumed) teenagers ranting about Gox and/or China, the BIT posted some of its biggest buys ever...

[Bitcoin_is_here_to_stay]

They bought ~1,473 BTC today (April 24th).

[seleme]

I guess that's what you call an accumulation. These guys are just adding coins..

[Melbustus]

Do they release any info on how many clients they have?

[njcarlos]

They've been buying into the 1000s haven't they? God they must be taking massive losses. Wouldn't be surprised if they're the ones with these fake walls trying to inflate the depths for quick dumps.

[gotmilk_]

They've been buying into the 1000s haven't they? God they must be taking massive losses. Wouldn't be surprised if they're the ones with these fake walls trying to inflate the depths for quick dumps.

Try harder...

[SlipperySlope]

They've been buying into the 1000s haven't they? God they must be taking massive losses. Wouldn't be surprised if they're the ones with these fake walls trying to inflate the depths for quick dumps.

They solicit coin off-exchange too. I have an account set up for 25 bitcion minimum sale and purchase with one of their VPs. I read somewhere the rumor that they solicit bitcoin from BitPay, whose bitcoin-accepting vendors may immediately sell bitcoin for dollars.

[wachtwoord]

I guess that's what you call an accumulation. These guys are just adding coins..

Of course they are, prices are very depressed, that's when intelligent people buy. People with more money are generally more intelligent (overall, of course not everyone).

[Bitcoin_is_here_to_stay]

Virtually no change: 16 BTC sold, most likely rounding error (Friday April 25th).

[JorgeStolfi]

They've been buying into the 1000s haven't they? God they must be taking massive losses. Wouldn't be surprised if they're the ones with these fake walls trying to inflate the depths for quick dumps.

SecondMarket will not lose any money, no matter what the price does.  When an investor gives them money for N shares, they buy N/10 bitcoins at the current market price.  When the investor liquidates those N shares, they sell the N/10 bitcoins at current market price and give him that money.

If the price went down in the meantime, the investor takes the loss; if it went up, he takes the profit.  In any case, SecondMarket skims off the entry, maintenance, and exit fees.

SecondMarket could make even more money if they had a private source that would sell them bitcoins below market price. That difference in price would be their extra profit.

[wachtwoord]

SecondMarket could make even more money if they had a private source that would sell them bitcoins below market price. That difference in price would be their extra profit.

They do.

[Ronan-]

SecondMarket could make even more money if they had a private source that would sell them bitcoins below market price. That difference in price would be their extra profit.

They do.

How do we know this?

[thezerg]

SecondMarket could make even more money if they had a private source that would sell them bitcoins below market price. That difference in price would be their extra profit.

They do.

How do we know this?

For one thing, you can call them up and buy/sell to them in 25BTC minimum lots.  However, I think these channels are low volume right now simply because SecondMarket purchasing is loosely correlated with rises in the exchanges.  And I'm guessing that bitpay isn't doing 1K btc per day right now... less spending more hoarding during the slump I would guess.

[wachtwoord]

SecondMarket could make even more money if they had a private source that would sell them bitcoins below market price. That difference in price would be their extra profit.

They do.

How do we know this?

"SecondMarket Will Open Up Private Bitcoin Fund to All Investors" http://www.coindesk.com/secondmarket-will-open-private-bitcoin-fund-investors/

[ElectricMucus]

SecondMarket will not lose any money, no matter what the price does.  

yeah...  

Wasn't that was true of mtgox too?