The Litepresence Report on Cryptocurrency

[PaulConventionWV]

Guess not, just yoyo-ing instead. I was thinking w/ the looming showdown over the Marshall's coin auction that something like this wouldn't stand. Would be nice to finally be out of the woods for a change. Things feel a little differently this time.

You never really know. I'm still holding.

[Dianne]

I'm still all in with litecoin waiting for the presence moon

[FSP-Rebel]

It's been speculated that the latest couple of rises in the Bitcoin / USD market are simply "pumps and dumps". This looks unlikely to be the case to me...

The longest range measure of buying / selling momentum, the 1-Week MACD, is now in the process of crossing to the upside. This is now the 3rd completion of a corrective price movement there's been in the last year for the 1-week chart. Each such movement has exhibited successively less selling momentum than the previous one, with this last one being absolutely minimal.

Combined with the huge amount of industrial development that Bitcoin has seen during the last months, it's difficult to conclude anything other than that the market is now in a highly oversold condition and will soon start to re-couple with growth in fundamentals.

Thought this was an analysis I saw worth sharing. Comments or critiques?

[PaulConventionWV]

I'm still all in with litecoin waiting for the presence moon

The presence moon doesn't seem to be present.

[PaulConventionWV]

Thought this was an analysis I saw worth sharing. Comments or critiques?

Where did it come from?

[muh_roads]

It's interesting looking at btc-e versus btcchina on the 15m. Less players on btc-e breeds more nervous nellies and volatility. All of the doji everywhere is kinda funny.

I wonder if it is proper to equate it to time travel. btc-e versus btcchina is like looking at Bitcoin volume 2-3 years ago versus today.

[champion_thedrinker]

Big auction this week. I wasn't following the charts very closely for the last couple auctions. I am assuming cheaper coins soon, just wondering what kind of track some of you guys think the price will ride and for how long/steep?

[muh_roads]

Big auction this week. I wasn't following the charts very closely for the last couple auctions. I am assuming cheaper coins soon, just wondering what kind of track some of you guys think the price will ride and for how long/steep?

They were both positive in the past.

The first auction after close that was won by Tim Draper took the price from 400's to almost 700. It was that big leg up in the middle of the geometry last summer.

The second auction after close took the price from 320 to higher than 450. (edit: I may be confusing this rally with the SR2.0 takedown rally)

[presence]

Bitcoin Investment Trust Gets Finra’s OK to Become Public Bitcoin Fund

http://www.wsj.com/articles/bitcoin-investment-trust-gets-finras-ok-to-become-public-bitcoin-fund-1425242094

[presence]

Somebody is pumping Bitfinex with a 1000 BTC guassian stacked on the buy margin. Some mighty sexy mighty badass botwork

[amonasro]

Somebody is pumping Bitfinex with a 1000 BTC guassian stacked on the buy margin. Some mighty sexy mighty badass botwork

You know you're a crypto trading nerd when you throw around terms like "gaussian stacked buy orders". Admittedly, I had to look that one up

[RonPaulIsGreat]

Next stop 34K BTC!

[muh_roads]

Next stop 34K BTC!

If that news brings buys, realistically, probably a new leg up to 1900-2000 BTC/CNY

Currently 1630

[muh_roads]

Bitcoin Investment Trust Gets Finra’s OK to Become Public Bitcoin Fund

http://www.wsj.com/articles/bitcoin-...und-1425242094

They are really dragging their feet on the Winklevoss fund. I wanna see COIN on Nasdaq.

So will we see BIT on Nasdaq? How will Barry's be listed? His is more of a mutual fund?

[presence]

Bitcoin Investment Trust Gets Finra’s OK to Become Public Bitcoin Fund

http://www.wsj.com/articles/bitcoin-...und-1425242094

$#@! a bunch of web magazine paywalls:




Bitcoin Investment Trust Gets Finra’s OK to Become Public Bitcoin Fund
Fund has been racing against rival offering from Cameron and Tyler Winklevoss
Michael J. Casey
Updated March 1, 2015 5:04 p.m. ET


Barry Silbert’s Bitcoin Investment Trust is poised to become the first publicly traded bitcoin fund, with approval and assignment of a ticker symbol by the financial industry’s main self-regulatory body paving the way for trading on an electronic platform operated by OTC Markets Group .

The BIT, which was first launched in 2013 as a private fund for accredited investors with annual incomes greater than $200,000 or assets of more than $1 million, has been racing against a rival offering by twins Cameron and Tyler Winklevoss, best known for their lawsuit against Facebook Inc. Chief Executive Mark Zuckerberg .

While the competing Winklevoss Bitcoin Trust is going through a lengthy Securities and Exchange Commission process to register a formal exchange-traded fund, the BIT has taken a backdoor route to public listing. By exploiting a rule that allows holders of a private fund to sell their shares publicly after a 12-month lockup period and completing a less arduous approval process with the Financial Industry Regulatory Authority, some of those long-held shares in BIT should soon be available to investors of any income or wealth bracket. The BIT is sponsored by Grayscale Investments, a unit of Mr. Silbert’s Digital Currency Group, which he established last year to hold the digital currency interests of his broker-dealer SecondMarket Inc.

The creation of a publicly traded bitcoin investment vehicle is seen as an important milestone for the digital currency’s bid for mainstream acceptance. Bitcoin advocates hope that regulated instruments will encourage a wider investment base as investors will no longer need to own bitcoin directly, which can expose them to hacking risks. Those same enthusiasts hope that more liquid trading will help smooth bitcoin’s notoriously volatile price and thus make the digital currency more appealing for online payments and value transfers.

Neither Tyler nor Cameron Winklevoss was immediately available for comment. In the past they have argued that their offering will be superior to the Digital Currency Group’s because investors will want the full imprimatur of the SEC before buying an ETF-like vehicle. Without SEC approval, Mr. Silbert’s fund can’t be formally classified as an ETF, but once existing shares are offered publicly it will function very much like one.

As of Sunday, BIT shares were being cited under the temporary ticker symbol BTCV on OTC Markets’ “pink sheets” site, which includes over-the-counter offerings from companies with limited information disclosure. Price quotes are being supplied by Merriman Capital, which has been given a 30-day exclusive status to function as the fund’s initial market maker.

Mr. Silbert said Finra granted its request for a permanent ticker symbol, GBTC, and that “is expected to be effective shortly.” He said Grayscale is also separately “working through the approval process to enable the BIT’s shares to be quoted under the Alternative Reporting Standards on OTCQX, the top marketplace operated by OTC Markets Group.” That top-tier marketplace holds issuers to significantly higher standards of disclosure than is required for its pink sheet listings.

It is unclear how much secondary trading there will be in the BIT’s publicly listed shares. Any new shares, which are generated whenever Grayscale purchases bitcoins, can be sold only to wealthy, accredited investors. The size of the secondary market float will depend on how many early investors take advantage of the expiry of the lockup period to sell.

In a statement, the Digital Currency Group said, “Although we have been assigned a ticker symbol, no assurances can be given as to when or if such trading will commence, or that an active public secondary market for BIT shares will develop or be maintained.”
Many investors who purchased their shares at the BIT’s launch in the fall of 2013, when bitcoin’s price was around $100, have an incentive to sell. Even though bitcoin’s price is well down from its peak around $1,150 in early December of that year, at the current $247 price quoted by news site Coindesk, those early investors have a chance to realize a healthy profit. The Digital Currency Group is also allowed to offer a limited amount of its proprietary shares to the public, which would encourage the development of the secondary market.

Each share of BIT is worth approximately one-tenth of a bitcoin. As of Friday, the trust’s net asset value stood at $24.43 per share.

[muh_roads]

$#@! a bunch of web magazine paywalls:




Bitcoin Investment Trust Gets Finra’s OK to Become Public Bitcoin Fund
Fund has been racing against rival offering from Cameron and Tyler Winklevoss
Michael J. Casey
Updated March 1, 2015 5:04 p.m. ET


Barry Silbert’s Bitcoin Investment Trust is poised to become the first publicly traded bitcoin fund, with approval and assignment of a ticker symbol by the financial industry’s main self-regulatory body paving the way for trading on an electronic platform operated by OTC Markets Group .

The BIT, which was first launched in 2013 as a private fund for accredited investors with annual incomes greater than $200,000 or assets of more than $1 million, has been racing against a rival offering by twins Cameron and Tyler Winklevoss, best known for their lawsuit against Facebook Inc. Chief Executive Mark Zuckerberg .

While the competing Winklevoss Bitcoin Trust is going through a lengthy Securities and Exchange Commission process to register a formal exchange-traded fund, the BIT has taken a backdoor route to public listing. By exploiting a rule that allows holders of a private fund to sell their shares publicly after a 12-month lockup period and completing a less arduous approval process with the Financial Industry Regulatory Authority, some of those long-held shares in BIT should soon be available to investors of any income or wealth bracket. The BIT is sponsored by Grayscale Investments, a unit of Mr. Silbert’s Digital Currency Group, which he established last year to hold the digital currency interests of his broker-dealer SecondMarket Inc.

The creation of a publicly traded bitcoin investment vehicle is seen as an important milestone for the digital currency’s bid for mainstream acceptance. Bitcoin advocates hope that regulated instruments will encourage a wider investment base as investors will no longer need to own bitcoin directly, which can expose them to hacking risks. Those same enthusiasts hope that more liquid trading will help smooth bitcoin’s notoriously volatile price and thus make the digital currency more appealing for online payments and value transfers.

Neither Tyler nor Cameron Winklevoss was immediately available for comment. In the past they have argued that their offering will be superior to the Digital Currency Group’s because investors will want the full imprimatur of the SEC before buying an ETF-like vehicle. Without SEC approval, Mr. Silbert’s fund can’t be formally classified as an ETF, but once existing shares are offered publicly it will function very much like one.

As of Sunday, BIT shares were being cited under the temporary ticker symbol BTCV on OTC Markets’ “pink sheets” site, which includes over-the-counter offerings from companies with limited information disclosure. Price quotes are being supplied by Merriman Capital, which has been given a 30-day exclusive status to function as the fund’s initial market maker.

Mr. Silbert said Finra granted its request for a permanent ticker symbol, GBTC, and that “is expected to be effective shortly.” He said Grayscale is also separately “working through the approval process to enable the BIT’s shares to be quoted under the Alternative Reporting Standards on OTCQX, the top marketplace operated by OTC Markets Group.” That top-tier marketplace holds issuers to significantly higher standards of disclosure than is required for its pink sheet listings.

It is unclear how much secondary trading there will be in the BIT’s publicly listed shares. Any new shares, which are generated whenever Grayscale purchases bitcoins, can be sold only to wealthy, accredited investors. The size of the secondary market float will depend on how many early investors take advantage of the expiry of the lockup period to sell.

In a statement, the Digital Currency Group said, “Although we have been assigned a ticker symbol, no assurances can be given as to when or if such trading will commence, or that an active public secondary market for BIT shares will develop or be maintained.”
Many investors who purchased their shares at the BIT’s launch in the fall of 2013, when bitcoin’s price was around $100, have an incentive to sell. Even though bitcoin’s price is well down from its peak around $1,150 in early December of that year, at the current $247 price quoted by news site Coindesk, those early investors have a chance to realize a healthy profit. The Digital Currency Group is also allowed to offer a limited amount of its proprietary shares to the public, which would encourage the development of the secondary market.

Each share of BIT is worth approximately one-tenth of a bitcoin. As of Friday, the trust’s net asset value stood at $24.43 per share.

[fatjohn]

Presence, did badger already go bull?

[presence]

Presence, did badger already go bull?

Yes holding BTC. Logging 450 hour panic hold against short trading unless major turn down.

[presence]

Honey Badger Bare Bones (no fancy logic) vs Apple Stock:

[muh_roads]

The way tradewave connects to coinsetter is weird. It's like going thru the front door. It wants your username and password instead of the API.

Sucks that it doesn't use the API, therefore my new member discount is $100 instead of $500

[muh_roads]

The symbol will be GBTC.

[presence]

The way tradewave connects to coinsetter is weird. It's like going thru the front door. It wants your username and password instead of the API.

Sucks that it doesn't use the API, therefore my new member discount is $100 instead of $500

Contact coinsetter support. In my experience, they will make that right. I have an open line to the Jaron Lukasiewicz (CEO) if you have issues; send me email or pm and I'll forward.

[zeMan]

I'm feeling like this could be the start of a new bull market. If we break the longterm downtrend line in log scale, Wall Street bubble is on!

Hope you all got in long ago, probably too risky now.

https://www.tradingview.com/v/cO3KhRYh/

[PaulConventionWV]

I'm feeling like this could be the start of a new bull market. If we break the longterm downtrend line in log scale, Wall Street bubble is on!

Hope you all got in long ago.

https://www.tradingview.com/v/cO3KhRYh/

I'm not entirely convinced yet, but I am holding long for now since $260. If we run up really quickly (parabolic) into the $300s, then I'll start selling. After that, I'm expecting a retrace kind of like the last one and then we'll see if it pushes lower after that or makes another run and confirms the bull market.

[fatjohn]

I hope it goes to infinity.

If it goes to infinity, I probably stand to make infinity money.

[presence]

Contact coinsetter support. In my experience, they will make that right. I have an open line to the Jaron Lukasiewicz (CEO) if you have issues; send me email or pm and I'll forward.

hmmm... second thought on that... I'm noticing all the ads are no longer $500 for automated traders and $100 for everyone else... they just say $100 for automated traders now.

Seems you might have missed the boat.

[zeMan]

I sent the email for the 500$ offer when they were still offering it, and he wrote me back today basically saying "sorry, its $100 now" even though that $500 ad was still up when I sent the email. I call bull$#@!, I went through all the trouble of getting registered, signed up for tradewave paid membership, etc, so whatever. I guess I won't be trading on that exchange. Crap liquidity anyway.

[Dianne]

I am so fed up with crypto's .. I swear no one knows chit about them. I'm just holding in fiat, gonna buy btc if it drops a bit again and move to wallet; then never opening this thread again lol.

[presence]

I sent the email for the 500$ offer when they were still offering it, and he wrote me back today basically saying "sorry, its $100 now" even though that $500 ad was still up when I sent the email. I call bull$#@!, I went through all the trouble of getting registered, signed up for tradewave paid membership, etc, so whatever. I guess I won't be trading on that exchange. Crap liquidity anyway.

sucks. I do know up until a few days ago; and all last month, people were getting the $500 account credit.

[presence]

I am so fed up with crypto's .. I swear no one knows chit about them. I'm just holding in fiat

That sucks too. I'm still mostly in LTC and I'll hold that position long. The rest BTC; honeybadger is logging 425 hour panic hold; which means most short trading decision classes are shut down.