Bitcoin blow as fund drops U.S. exchange application

#1

Post by uptown » Thu, Sep 28, 2017, 1:58 PM UTC

Bitcoin blow as fund drops U.S. exchange application
reuters.com

Re: Bitcoin blow as fund drops U.S. exchange application

#2

Post by nwah1 » Thu, Sep 28, 2017, 3:15 PM UTC

It says this fund is still traded at unofficial exchanges at prices a number of times higher than the value of the bitcoin it holds. The multiple layers of speculative mania involved in that boggles the mind.

Re: Bitcoin blow as fund drops U.S. exchange application

#3

Post by xutopia » Thu, Sep 28, 2017, 3:15 PM UTC

That's overstated. I can already exchange Bitcoin easily and it's the best return I have of all my funds.

Re: Bitcoin blow as fund drops U.S. exchange application

#4

Post by xbzbanna » Thu, Sep 28, 2017, 3:19 PM UTC

xutopia wrote: post #3

That's overstated. I can already exchange Bitcoin easily and it's the best return I have of all my funds.

It would generally be appropriate to say things like "was the best return" or "has been the best return" when describing past price appreciation. "Is the best return" could be reserved for something like a stable source of income.

Re: Bitcoin blow as fund drops U.S. exchange application

#5

Post by kobeya » Thu, Sep 28, 2017, 3:20 PM UTC

GBTC is a regulatory dodge that does not reliably track the price of bitcoin. As someone who wants a bitcoin ETF, I’m certain the SEC would not have approved the listing of GBTC and very confused as to why ICE (who should know better) ever thought they would.

Re: Bitcoin blow as fund drops U.S. exchange application

#6

Post by readhn » Thu, Sep 28, 2017, 3:27 PM UTC

RIP bitcoin. Current valuation is $4142.99 higher than it should be.. Im thinking we will get there within a couple of years. $1-2 seems about right per 1 BTC.

Re: Bitcoin blow as fund drops U.S. exchange application

#7

Post by chrisco255 » Thu, Sep 28, 2017, 3:28 PM UTC

readhn wrote: post #6

RIP bitcoin. Current valuation is $4142.99 higher than it should be.. Im thinking we will get there within a couple of years. $1-2 seems about right per 1 BTC.

Yeah...$20 million market cap seems reasonable... smh...

Re: Bitcoin blow as fund drops U.S. exchange application

#8

Post by ringaroundthetx » Thu, Sep 28, 2017, 3:29 PM UTC

xbzbanna wrote: post #4

xutopia wrote: post #3

That's overstated. I can already exchange Bitcoin easily and it's the best return I have of all my funds.

It would generally be appropriate to say things like "was the best return" or "has been the best return" when describing past price appreciation. "Is the best return" could be reserved for something like a stable source of income.

Many people earn income in bitcoin or cryptocurrency and would consider the US dollar the poor investment or purchase.

It is all a matter of perspective which simple wasn't apparent because there weren't options a decade ago.

Re: Bitcoin blow as fund drops U.S. exchange application

#9

Post by lolsal » Thu, Sep 28, 2017, 3:31 PM UTC

chrisco255 wrote: post #7

readhn wrote: post #6

RIP bitcoin. Current valuation is $4142.99 higher than it should be.. Im thinking we will get there within a couple of years. $1-2 seems about right per 1 BTC.

Yeah...$20 million market cap seems reasonable... smh...

What is "smh"?

Re: Bitcoin blow as fund drops U.S. exchange application

#10

Post by ringaroundthetx » Thu, Sep 28, 2017, 3:31 PM UTC

nwah1 wrote: post #2

It says this fund is still traded at unofficial exchanges at prices a number of times higher than the value of the bitcoin it holds. The multiple layers of speculative mania involved in that boggles the mind.

It trades on the OTC Bulletin Boards since 2014 or so, and is prime for getting easy exposure with IRA accounts simply because it can be accessed through normal brokerages.

Hasn't exactly been a bad bet for those people.