If you own 3000 or more Bitcoin, Wall Street wants your advice

[Bostonbitcoin]

You should provide verification.
How can we be sure you are not just someone attempting to steal bitcoins ?
3000 bitcoins is a lot of money.

Done thanks, my name is Bruce Fenton

[1715506771]

1715506771

[1715506771]

1715506771

[1715506771]

1715506771

[minerpart]

For BTC to have anything close to a real and significant market cap then it needs to be easy for people to buy using vehicles they understand.

That would assist yes but it's not essential as you would suggest. BTC is not just an asset class it's also a currency, and widely adopted currencies do not need investment vehicles to support their use and value.

What BTC really needs is price stability. It needs market-makers, and if your proposed vehicle would directly help in a small way to prevent 15+% swings over a day then it's to be encouraged. As market-cap grows the average daily range should fall in percentage terms but that shouldn't just be an unintentional consequence of a larger market.

[Bostonbitcoin]

Any other ideas?

http://bitcoin-assets.com/

Otherwise be aware than most people here (and it's much worse on reddit) do not understand finance and generally invest in blatant scams or crap that lose 90% of their value. You might want to find people who do NOT invest in Bitcoin securities.

Thanks, with this we need 10-20,000 BTC for critical mass for it to work.  I can either try to convince some Wall St, players to buy those coins then participate or I can find holders of coins who see value in the plan.

[superduh]

i'd actually prefer if bitcoins kind of did away with wall st. feelings on here are mixed but i think wall st should "burn to the ground" and rebuild elsewhere, less corrupt.

[sparky999]

hv you messaged rpietila? he is one of the biggest bitcoin traders in the world, tends to hang out in the economics sub-forum.

[Bostonbitcoin]

i'd actually prefer if bitcoins kind of did away with wall st. feelings on here are mixed but i think wall st should "burn to the ground" and rebuild elsewhere, less corrupt.

A surprisingly large number of people say that.

There are many aspects that many of us on "the inside" do not like -- such as bailouts and the government regulations which benefit the large players.

There are also many good things about Wall St. -- the Internet and our world would look very different if not for the VC investment and later public offerings of companies like Google, Amazon etc.

When we are talking about Bitcoin which now has one fortieth the market cap of a single large company of the thousands of companies on Wall St - I think it's much more realistic to make change from within the system....typically this is always how disruptive technologies have worked -- alongside old tech.

This is one reason, with my project, I'm looking t have it run, managed, funded and operated by Bitcoin leaders and using Bitcoin.

[Bogart]

The most potentially profitable game going on in the BTC world currently seems to be making and selling mining hardware.

There is a certain mining hardware company in California whose name rhymes with Cash Last that has working silicon, but is in dire need of a financial bailout at this very moment.

If they were to receive a sudden infusion of cash right now, they could be in a position to cover their current liabilities that now threaten to destroy them, and go on to become a successful and highly profitable mining hardware company.

Unfortunately for all involved, I doubt that you and your investment partners can move quickly enough to pull this off.

[KeyserSozeMC]

I'll tweet your topic here: https://twitter.com/ThisWeeksCoin

I don't guarantee if You'll get any response, but, if so, I'll be glad.

Good luck with your quest

[DPoS]

Actually, why not call up Mt Gox?  They seem to be dry on the outflow so a cash infusion there would be great to bring their outflows back up which would lower their fake hostage price.


And then once you get your coins, you can start moving them out unless Mt Gox has restrictions on that.


If not, you might do well just trying to get ~100 coins each from the 'old money' crowd since that will be seen more as helping grow the market and stabilize the price than a lame cashout.

There is a distant early warning from the Mt Gox price shouting the need for more funds like this but more details of HOW your fund will operate will be needed to really get interest into it.   It seems like you are trying to partner up with a few big players and perhaps offer them some stake in the game (and risk) to create what you are doing

[Atruk]

Any other ideas?

http://bitcoin-assets.com/

Otherwise be aware than most people here (and it's much worse on reddit) do not understand finance and generally invest in blatant scams or crap that lose 90% of their value. You might want to find people who do NOT invest in Bitcoin securities.

Thanks, with this we need 10-20,000 BTC for critical mass for it to work.  I can either try to convince some Wall St, players to buy those coins then participate or I can find holders of coins who see value in the plan.

You'd probably have an easier path with the first option.

[Atruk]

A semi serious proposal.

Offer a cloud hashing service, at the bargain price of $20 Gh/s for one year paid in BTC only.  (Half of the current scams offerings!)

Buy April hashrate at $3 Gh/s.

Cover the 3 month gap with the BTC you collect.  Keep the rest for your 10 000 BTC project, and next year you have a free mine giving further BTC revenue.

Why the fuck does everything have to be mining.

[mpattison]

I have a hard believing that an Investment Firm CEO struggles with his/her use of periods at the end of sentences.
Yes, I know it's a forum and all, but I work an 8-4 job in an office and I take my writing style home with me.

[Bostonbitcoin]

A semi serious proposal.

Offer a cloud hashing service, at the bargain price of $20 Gh/s for one year paid in BTC only.  (Half of the current scams offerings!)

Buy April hashrate at $3 Gh/s.

Cover the 3 month gap with the BTC you collect.  Keep the rest for your 10 000 BTC project, and next year you have a free mine giving further BTC revenue.

I think that would add an extra layer of complexity.   This is straightforward for people to get BTC assets into a BTC backed public vehicle.

[Praeconium]

A semi serious proposal.

Offer a cloud hashing service, at the bargain price of $20 Gh/s for one year paid in BTC only.  (Half of the current scams offerings!)

Buy April hashrate at $3 Gh/s.

Cover the 3 month gap with the BTC you collect.  Keep the rest for your 10 000 BTC project, and next year you have a free mine giving further BTC revenue.

I think that would add an extra layer of complexity.   This is straightforward for people to get BTC assets into a BTC backed public vehicle.

Its a decent proposal actually.

Ok, and what is exactly the point of this BTC backed public vehicle? You will have 100,000 BTC pool based on which You will issue new securities?

The gain for those who put coins in pool in needs to be a return in some form and should be greater than simple return on bitcoin since they already have that and for those who invest there needs to be a possibility of return as well. Where exactly are these returns coming from if actual owners are gaining regular return of bitcoin appriciation?

Unless You do frictional based current-world-finance allowing people to actually invest a lot more than the worth of the pool? And then trading those.

Large holders are in it for ideology as much as for profit I think and there needs to be a compelling idea of how will bitcoins work in favor of someone while they are holding on to them.

Please explain a little bit, there are so many cool ideas flowing openly I doubt that no one has thought of what You've offering, its more about execution I suppose.

My proposal, let Wall Street provide liquidity around the globe so that people have instant access to markets from their bank accounts and tighten spreads, I think that would be much more beneficial while certainly lucrative. Currently so many people are paying premium in terms of money and time for being able to exchange coins, while Wall Street could provide it with a single margin account maybe..

You should also check the idea of colored coins https://bitcointalk.org/index.php?topic=106373.0 and maybe get behind it with big guns cause its future of trading.

[cp1]

My advice is don't trust wall street.

[Minor Miner]

I do not mean to be a jerk off here, but I do not think you worked at MS.  It is likely from your experience summary posted above, that you worked at Dean Witter as a retail broker, smiling and dialing, and received MS cards when they acquired DWD.
Nothing wrong with that, BUT if you built up a book of business of 4.5B, you would have been moved to MS' private client services making several million per year (just like Jim Cramer at Goldman, Sachs when he came out of HBS into GS' PCS group before he started a hedge fund flipping IPOs and trading up a storm).  Somehow, I do not think so.
If you had the backing to buy (which you do not), 10,000 bitcoins, you could make about 4 phone calls and have them in a simple block trade.
I call BS.
You are probably looking for cheap "locates" so you can long/short trade this thing and not risk getting your ass handed to you when there is a squeeze and you cannot deliver the "physical".

[Bostonbitcoin]

I do not mean to be a jerk off here,

The amount of assuming that anonymous people on the Internet will do never ceases to amaze me.

[Bostonbitcoin]

I think I moved 4.5B in trades through my etrade account between 1996 and 2001.   

Another internet detective.  Yep, you've got it all figured out.

[Minor Miner]

I do not mean to be a jerk off here,

The amount of assuming that anonymous people on the Internet will do never ceases to amaze me.

The attempts at freeloading off others by people with BS credentials that is so prevalent in America is indicative of where the country is headed.
Guess my "assuming" was pretty bang on.
If you had actually worked at MS on the equities floor for even a summer internship, your skin would be a lot thicker.

[Bostonbitcoin]

My skin is plenty thick but the level of ignorance that people have to assume things without basis never ceases to amaze me.   BTW -- what's your real name and credentials/ LinkedIn etc?