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801
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Economy / Speculation / Re: KncMiner XBT: 851 BTC traded at 235.26$
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on: May 18, 2015, 02:29:37 PM
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Looks like a big seller, most likely KNC, sat right at 9.73/XBT all day on the ask. Which pretty much capped the price. Interesting why they wouldn't try to get some sort of BTC premium like GBTC was getting.
Perhaps because arbitrage is possible with these notes, but not with BIT shares? |
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802
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Economy / Speculation / Re: KncMiner XBT: 851 BTC traded at 235.26$
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on: May 18, 2015, 01:28:25 PM
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Posted on another thread: The cool thing about this ETN is that there is no limit of "matured shares". The issuer buys more real bitcoin on exchanges if the players want more ETNs. No limits on either bid or ask side!
Is this correct? I though that I had seen mention of a maturation time for new notes, too. Perhaps only for redemption (give back notes to XBT Provider in exchange for the real BTC)? |
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803
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 18, 2015, 01:27:30 PM
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The cool thing about this ETN is that there is no limit of "matured shares". The issuer buys more real bitcoin on exchanges if the players want more ETNs. No limits on either bid or ask side!
Is this correct? I though that I had seen mention of a maturation time for new notes, too. Perhaps only for redemption (give back notes to XBT Provider in exchange for the real BTC)? |
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805
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 18, 2015, 07:59:12 AM
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Could it be possible that you guys are mixing up turnover with volume? Normaly the volume describes the amount of units traded. Turnover is measured in the underlying currency.
Hence 269111 SEK / 9,69 / 200 = 138 btc traded.
Please correct me if I am wrong...
Folks in the XBT Tracker One thread are saying the same thing. |
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809
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 17, 2015, 10:13:47 PM
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FDIC insured usd deposits  I would like to see officials from Coinbase, Circle, and ItBit state CLEARLY that EACH individual customer account is protected by FDIC insurance up to $250'000 FOR EACH CUSTOMER, against ANY SCREW-UP BY THE COMPANY. Reading Coinbase's FAQ, I concluded that it was only COINBASE'S account at their bank (where they keep their clients' USD balances) that was insured by the FDIC AGAINST FAILURE OF THE BANK, for 250'000 TOTAL. The news that I read about Circle and ItBit (including that law prof's article) are compatible with this less exciting (but far more likely) interpretation. |
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813
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 16, 2015, 06:18:16 PM
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Indeed, Sweden ETN (KNCminer) is same as the DigitalBTC (Australian bitcoin mining company Digital CC Limited) trading in Australian Securities Exchange, they are all just penny stocks like GBTC trying to dump as more ways as possible to cut losses, read this:
They are quite different actually. DigitalBTC/DigitalCC stock is equity, that is, tites of ownership of slices of the company. Their value depends in part on the company's assets, but mostly on the expected profits of the company in the near future. Only a small part of DigitalCC's assets is bitcoin; their future profits are supposed to come from mining revenue, trading fees, and sale of software products. Shares of "XBT Tracker One" (the official name of the fund, IIUC) are, like BIT shares, IOUs for a certain number of bitcoins (that shrinks every year, because of fees.). Their value should depend only on the market price of those bitcoins, with some spread due to their "safe & hygienic" packaging as ETNs. |
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814
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 16, 2015, 11:21:42 AM
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Does it have a ticker symbol yet? Comedy moment: I got this from the table of contents of their prospectus:
1. SAMMANFATTNING ................................... 3
2. RISKFAKTORER ...........ERROR! BOOKMARK NOT DEFINED.
3. ALLMÄN INFORMATION OM PROGRAMMET .............. 29
4. EMITTENTEN ...................................... 34
5. DOKUMENT FÖR VISNING AVSEENDE EMITTENTEN ........ 42
(The risks section actually begins on page 15.) |
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815
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 16, 2015, 03:53:16 AM
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The kind of stability that makes me cringe. How much time do i have to wait before this stupid coin gets mass adopted and me rich as a result of it ?  The price will not rise unless bitcoin becomes widely adopted. Bitcoin will not be widely adopted unless its price stabilizes. Hence, you need to find a way to keep the price constant while the price rises. Don't worry. There are dozens of startups with hundreds of millions of VC capital and hundreds of smart programmers working on that problem. They will surely find a way to do that. |
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817
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 15, 2015, 11:00:39 PM
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It's likely those BTC [ from the Factom IPO ] are gonna be dumped, at least that's what the Ethereum devs did with their pre-sale few months back:
Those bitcoins will be sold, almost certainly. A company that keeps its financial assets in BTC does not know the meaning of "accounting" or "financial planning". If a startup promises to do that, keep your money away from it. |
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818
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Economy / Speculation / Re: SecondMarket Bitcoin Investment Trust Observer
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on: May 15, 2015, 10:49:57 PM
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[ last updated 2015-05-21 ] Greyscale BIT shares (GBTC) daily trading summary:
! OTX ! OTX ! FRT ! FRT ! FRT ! FRT ! FRT ! FRT ! FRT !
Date ! UpS_LO ! UpS_HI ! UpS_LO ! UpS_HI ! VSHR ! VBTC ! VUSD ! UpS ! UpB ! OBS
-----------+--------+--------+--------+--------+--------+--------+------------+-----------+----------+----------
2015-05-04 | 37.98 | 42.00 | . | 200.00 | 765 | 76.5 | . | . | . | (*0)(*1)
2015-05-05 | 55.00 | 94.86 | 50.00 | 175.00 | 435 | 43.5 | 32198.00 | 74.01839 | 740.1839 | (*0)
2015-05-06 | . | . | 65.00 | 68.00 | 125 | 12.5 | 8268.50 | 66.14800 | 661.4800 | (*0)
2015-05-07 | 40.00 | 66.00 | 40.00 | 86.00 | 2844 | 284.4 | 163651.00 | 57.54255 | 575.4255 |
2015-05-08 | 49.00 | 59.00 | 49.00 | 59.00 | 14807 | 1480.7 | 750019.70 | 50.65305 | 506.5305 |
2015-05-11 | 50.00 | 57.95 | 49.50 | 57.95 | 2756 | 275.6 | 143247.34 | 51.97654 | 519.7654 |
2015-05-12 | 49.00 | 50.01 | 49.00 | 52.25 | 2286 | 228.6 | 113299.25 | 49.56223 | 495.6223 |
2015-05-13 | 49.00 | 49.00 | 49.00 | 50.00 | 327 | 32.7 | 16113.10 | 49.27554 | 492.7554 |
2015-05-14 | 44.00 | 49.00 | 44.00 | 49.95 | 20894 | 2089.4 | 1004923.74 | 48.09628 | 480.9628 | (*2)
2015-05-15 | 38.00 | 45.00 | 38.00 | 45.00 | 2320 | 232.0 | 97444.35 | 42.00188 | 420.0188 |
2015-05-18 | 27.15 | 38.00 | 27.15 | 38.00 | 4950 | 495.0 | 158115.83 | 31.94259 | 319.4259 |
2015-05-19 | 27.90 | 29.50 | 27.89 | 29.90 | 4308 | 430.8 | 122327.92 | 28.39552 | 283.9552 |
2015-05-20 | 29.25 | 32.25 | 29.25 | 32.25 | 4859 | 485.9 | 148652.00 | 30.59313 | 305.9313 |
2015-05-21 | 30.50 | 32.00 | 30.50 | 32.00 | 2882 | 288.2 | 90663.50 | 31.45854 | 314.5854 |
"OTX" data from the GBTC quote page at OTCQX. "FRT" data from the Freerealtime site, except those flagged (*0) and (*1) (see below). UpS_LO = Lowest price (USD/share) in the specified day. UpS_HI = Highest price (USD/share) in that day. VSHR = Number of shares traded in that day. VBTC = Number of BTC equivalent to those shares (ignoring fees) = VSHR*10. VUSD = Trade volume in USD (sum over all trades of num of shares times price per share). UpS = Average price in day (USD/share) = VUSD/VSHR. UpB = Implied bitcoin price (USD/BTC) = VUSD*10/VSHR. OBSERVATIONS: (*0) The "FRT" price range for this entry was obtained from this post. (*1) For 2015-05-04, the values of UpS_LO, VSHR, VUSD, and UpS could not be determined; the value of VSHR was taken from the OTCQX page. (*2) The summary pages at OTCQX and FreeRealTime.com say VSHR = 19894, but adding the FreeRealTime list of trades we get 20894 (1000 more). The VSHR value given above is the latter. There were 2 trades near the end of the day; perhaps one was undoing the other? |
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820
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 15, 2015, 11:48:29 AM
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The catch is that you must give the bitcoins to Grayscale, they will give you fresh BIT shares, and you must keep them for 1 year before you can sell them on the OTCQX market. Good luck...
Dont forget that for $50m in bitcoin, you must give them $100m. Just to feel 'comfortable'. Yeah, that will work. Actually, if Grayscale gets $50m worth of bitcoin, it will return shares that maybe stand for $48m worth of bitcoins. But only SecondMarket can do that. So I suppose that SecondMarket will charge you $100m, buy $50m worth of bitcoin, do the above, and give you $98m worth of shares that stand for only $48m worth of bitcoin. Capishe now why bitcoin ventures get so many millions from VC investors? |
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