wachtwoord
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Activity: 2324
Merit: 1125
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May 17, 2014, 02:10:54 AM |
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I'm at a loss for words. This is just incredible. Shameful. USA, get your shit together. Exactly. Have we become China yet or what? Since when hedge funds are suppose to invest in super safe securities and how it is their bank business what Second Market invests in? Sounds almost like April Fool's news  This is a direct consequence of the retarded monopoly created by the state through banking licenses. |
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Bitcoin_is_here_to_stay
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May 17, 2014, 05:13:33 AM |
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I'm at a loss for words. This is just incredible. Shameful. USA, get your shit together. Exactly. Have we become China yet or what? Since when hedge funds are suppose to invest in super safe securities and how it is their bank business what Second Market invests in? Sounds almost like April Fool's news This is a direct consequence of the retarded monopoly created by the state through banking licenses. I do not think it will have much impact on Second Market - they will just move their account to another bank - but this is really strange and surprising. |
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TERA
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May 17, 2014, 08:32:44 AM |
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Wait.. I think I'm seeing a pattern here: Banks don't like bitcoin. What a shocker.
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Biodom
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Activity: 3738
Merit: 3844
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May 17, 2014, 09:52:52 PM |
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I'm at a loss for words. This is just incredible. Shameful. USA, get your shit together. Exactly. Have we become China yet or what? Since when hedge funds are suppose to invest in super safe securities and how it is their bank business what Second Market invests in? Sounds almost like April Fool's news Yes, they were perfectly happy to invest in CDOs that had, incidentally, triple A ratings. |
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tupelo
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Activity: 99
Merit: 10
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May 17, 2014, 10:11:45 PM |
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One would assume that the technology and concept of bitcoin was hardly more exertive to assess than some of the more complex products like CDOs that have been re-bundled for the millionth time.
I think things like control might be more of a factor.
With complex CDOs one could argue, that there was an incentive to sell, buy, rebundle and sell again as much as possible to people that were not able to assess the tremendous risks, blinded simply by the sheer complexity of the product. But then again, the tinfoilhat sometimes leads one to assume high intelligence where there is only greed.
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Bitcoin_is_here_to_stay
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May 17, 2014, 10:20:11 PM |
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Wait.. I think I'm seeing a pattern here: Banks don't like bitcoin. What a shocker.
That is not the point. Bank closing institutional customer's account because they do not "like" their perfectly legal investment is very surprising to me. Unless there is more to the story and the account was closed for more/other reasons? |
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JorgeStolfi
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May 17, 2014, 11:18:43 PM |
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That is not the point. Bank closing institutional customer's account because they do not "like" their perfectly legal investment is very surprising to me. Unless there is more to the story and the account was closed for more/other reasons?
IIRC a Japanese bank closed MtGOX's account too, not clear why. And an Australian bank closed the accounts of Australian bitcoin exchanges. This old article (Nov/2013) may be relevant: http://www.forbes.com/sites/kashmirhill/2013/11/15/bitcoin-companies-and-entrepreneurs-cant-get-bank-accounts/Could be simply "why are we serving a customer whose business is to undercut our business." Could be the popular perception that "bitcoin is the currency of illegal drugs, weapons, and pedophiles." Could be that the BIT's legal status is murky. What is their legal nature and strcuture? Does SecondMarket hold the bitcoins themselves, or are they a proxy for some other company? |
Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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BitAddict
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Activity: 1190
Merit: 1001
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May 22, 2014, 12:33:04 AM |
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Any update?
Do they have an alternative bank account? Are they still buying and selling?
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bitcoinsrus
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May 22, 2014, 12:37:22 AM |
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Any update?
Do they have an alternative bank account? Are they still buying and selling?
I have not read anything yet. Many people here think they might get somewhere in the summer (mid August-ish). They seem to be decent guys that have owned up to what they have (100k btc) and what they plan to do with it (Possibly selling 5 shares to 1 bitcoin). Hopefully they get it soon. |
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jl2012 (OP)
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Activity: 1792
Merit: 1092
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May 22, 2014, 03:03:31 AM |
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Updated. No real action since last update
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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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thezerg
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Activity: 1246
Merit: 1010
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May 22, 2014, 03:11:39 AM |
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Updated. No real action since last update
I'm actually happy to learn that yesterday's jump was not second market... |
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N12
Donator
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Activity: 1610
Merit: 1010
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May 22, 2014, 03:15:58 AM |
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Updated. No real action since last update
I'm actually happy to learn that yesterday's jump was not second market... I'm not. It's concerning that they are no longer accumulating. |
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dropt
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Activity: 1512
Merit: 1000
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May 22, 2014, 03:46:25 AM |
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Updated. No real action since last update
I'm actually happy to learn that yesterday's jump was not second market... I'm not. It's concerning that they are no longer accumulating. Did they not just lose a bank? Might be holding out until they re-establish. |
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zoinky
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May 22, 2014, 05:19:52 AM |
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Updated. No real action since last update
I'm actually happy to learn that yesterday's jump was not second market... I'm not. It's concerning that they are no longer accumulating. I find it be more concerning if they seemed to be the only group accumulating. |
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nioc
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Activity: 1624
Merit: 1008
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May 22, 2014, 05:31:08 AM |
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Wait till Thursday's reporting  |
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JorgeStolfi
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May 22, 2014, 05:35:01 AM |
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I'm not. It's concerning that they are no longer accumulating.
I find it be more concerning if they seemed to be the only group accumulating. There is another fund, IIRC called Pantera Bitcoin Partners (PBP). Fortress had invested in bitcoins, and got a red stain for that in their quarterly report. So they gave the botcoins to Pantera in exchange for shares of Pantera Management, the company that manages the PBP. Like SecondMarket, Pantera Management will make some money from fees, no matter what happens to the BTC price. That's what I recall. |
Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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jl2012 (OP)
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Activity: 1792
Merit: 1092
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May 23, 2014, 01:03:24 AM |
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Wait till Thursday's reporting No action again |
Donation address: 374iXxS4BuqFHsEwwxUuH3nvJ69Y7Hqur3 (Bitcoin ONLY)
LRDGENPLYrcTRssGoZrsCT1hngaH3BVkM4 (LTC)
PGP: D3CC 1772 8600 5BB8 FF67 3294 C524 2A1A B393 6517
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N12
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Activity: 1610
Merit: 1010
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May 23, 2014, 01:04:44 AM |
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Wait till Thursday's reporting No action again This has got to be because of their bank account. It's unusual. |
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gotmilk_
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May 23, 2014, 11:58:02 AM |
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Wait till Thursday's reporting No action again This has got to be because of their bank account. It's unusual. They probably have more accounts? At least I would expect that... But need to say, it's strange that they are not buying. |
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gog1
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May 23, 2014, 01:48:30 PM |
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don't think they bought any on Thurs
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