Well, I am all out, for good this time

[twiifm]

I think you made a wise move op.

[jasonjm]

down more than 10% since i bailed out.

I really think we will see bitcoin under $100 before winkels ETF

if winklevoss ETF is not approved, I think we see under $10 by 2016

mark this thread

[Morecoin Freeman]

Putting everything in perspective OP must have sold near the bottom this time.

[Morecoin Freeman]

Maybe it is a matter of preference but from my risk/reward perspective selling at ~$200 is not the right decision.
With bitcoin hype at an all time low and $0 being the absolute bottom we literally can't go that much lower.

[jasonjm]

Maybe it is a matter of preference but from my risk/reward perspective selling at ~$200 is not the right decision.
With bitcoin hype at an all time low and $0 being the absolute bottom we literally can't go that much lower.

$0 being the bottom might not bother you, or others on this board, but it bothers me greatly.

[tss]

2) the winklevoss ETF fund is just too much of a risk for me to try hold bitcoin through. if this thing gets denied, bitcoin will flash crash. That winklevoss ETF is the pie in the sky everyone is hoping for so they can dump their coins onto the general public. If it doesn't get approved, a lot of people will dump anyways. The fact that since mtgox there are just more and more bitcoin scams is not good for the pending ETF approval in my opinion.

i don't see how the etf will affect any pricing.  all the twins want is to create their fund.  they wont be buying more coin.. just selling shares of their own to the public on nasdaq.  please correct me if i am mistaken.

[jasonjm]

you are gravely mistaken

the fund was the vehicle with which the whales (like the winkles) were going to dump their bitcoins onto the general public.

right now if you need to sell 100 000 bitcoins you will destroy the price.

but with wallstreet money flowing in, you could easily dump 5 000 a day and still have BTC price fly upwards.

if that ETF is not approved, a LOT of holders are going to see their golden goose slaughtered, and cut and run immediately.

my prediction? if winkle ETF is denied, within 7 days bitcoin price drops at least 50% from day of denial, within 30 days 75%

bitcoin now down almost 20% from where i cut and ran, like a girl flapping my arms, screaming the sky is falling.

[ramkumar]

i don't think wallstreet or microsoft will invest in bitcoin 

[jasonjm]

wall street will not invest in bitcoin

nor will microsoft

I never said that so I agree with you.

what i said is if that winkle ETF went live, average joe will try a little bitcoin, it will move up, then the MOMO stock chasers will pile on, the faster it moved up, the more it would be chased, and we all know when bitcoin moves up it flies, as there is no liquidity. So it would have the potential to rocket ship once listed on Nasdaq.

[twiifm]

wall street will not invest in bitcoin

nor will microsoft

I never said that so I agree with you.

what i said is if that winkle ETF went live, average joe will try a little bitcoin, it will move up, then the MOMO stock chasers will pile on, the faster it moved up, the more it would be chased, and we all know when bitcoin moves up it flies, as there is no liquidity. So it would have the potential to rocket ship once listed on Nasdaq.

very arrogant to call others "average joe".  If ETF went live the pro traders will hop on the short wagon and short the f**K out of bitcoin.  That you can be sure.  Wall Street is infested w sharks not derp derp traders typical of bitcoin

[jasonjm]

anyone who buys their first bitcoin through an ETF this late in the game is 100% average joe, whether you like the term or not. Because it offends you, I will now refer to them as late adopters.

second, if you ever watched a new ETF launch, especially a low float one like winkle would be, it is usually difficult to obtain the shares to short, so even if the pros would love to short, they usually have to wait until an options market is established on the new security.

third, you cannot short more than the float, so if people are buying like crazy, the price can explode as you get a short squeeze, making it go even higher than it normally would.

and finally yes if bitcoin skyrocketed, the bigger wall street sharks would come out and eventually destroy it, but my guess is not before it has that one moon shot.