

Winklevoss twins expect first quarter debut of Bitcoin exchange - jvoorhis
http://www.reuters.com/article/2015/01/26/us-winklevoss-exchange-idUSKBN0KZ2N220150126

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kirse
That last quote in the "article" (PR release) is far more informative than the
rest of the words combined. Welcome to phase 2 of their strategy to infuse
artificial confidence in Bitcoin so they can cash out of the $11 mill in BC
that have been stagnating since they purchased them back in 2013. Winkdex was
phase 1.

I mean, I get it, one doesn't need an Econ degree from Harvard to connect the
dots on this scheme that adds absolutely zero value to the world at large.
There has to be some sort of Wall Street Wheel-of-pump-and-dump in
finance/econ rings where they spin to decide which "investment vehicle" they
want to use to transfer money from retail investors into their pockets.

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beaner
If they wanted out why wouldn't they just sell it on the open market?

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SeoxyS
Selling $11M in bitcoin on the open market would likely crash the market.
According to blockchain.info, the average day sees about ~7M USD of bitcoin
traded. Not to mention any of the negative signaling if people got wind of the
sale.

~~~
beaner
Obviously they would not sell it all at once. If you're speculating they'd put
many months of effort into an ETF, there's no reason they couldn't
alternatively spread their sells out over many months, meaning it'd account
for only a fraction of the volume.

Making an ETF just to cash out doesn't make sense.

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statoshi
If you read the ETF S1 filings you'll see that they plan on charging fees to
maintain accounts for investors. It will be an ongoing profitable operation to
run, not just a one-time cashout.

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hammeiam
Beat to the punch yet again

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jacquesm
Well, then let's wait until then to report the debut. This hype over nothing
is dumb.

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jonas21
Next step: sue Coinbase for stealing the idea of creating a US-based Bitcoin
exchange.

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codemac
Let's hope it's not HTTP & JSON

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rememberlenny
[https://exchange.coinbase.com/](https://exchange.coinbase.com/)

