Bitcoin Investment Trust (GBTC)

John9999 said:
I understand the risks on this asset,,,,but it still looks attractive to me. today at close GBTC is up and BTC is down... I am sure there are many days that are the opposite. I just really like that right thru my IB account I can buy/sell. A big name we all trust with IB. No weirdo "wallets" or no name exchanges ready to shut down or be hacked... like the Mt Goxin 2014 and Trade Hill in 2012... Trade Hill shut down over a measly $100,000 dispute...and there are many more examples of the BTC exchanges being hacked and shutting down
More...

So you would like it if you woke up tomorrow and you were long GBTC and it was down 50% while BTC is up 10%? This thing gaps more then peak electricity prices during the month of August in TX. You have no way to manage risk. Your odds are much greater at the local blackjack table in Vegas.
 
Yes, you can find a borrow on GBTC. Any broker that cathers to short sellers should have it. I'm short it against BTC
 
Maverick74 said:
So you would like it if you woke up tomorrow and you were long GBTC and it was down 50% while BTC is up 10%? This thing gaps more then peak electricity prices during the month of August in TX. You have no way to manage risk. Your odds are much greater at the local blackjack table in Vegas.
More...

This for me is a buy and hold. I will not be trading it... hell, some big time guru came out today and predicted BTC goes to $1,000,000... I do not care about a big gap... I am not putting my life savings at this, if I lose it won't affect me much... but if this continues to go and go it could be life changing...

I guess everyone has to weigh out their own risks and make their own decision.

for me.. this BTC Trust is good for now until the CME or such offers some other way
 
John9999 said:
This for me is a buy and hold. I will not be trading it... hell, some big time guru came out today and predicted BTC goes to $1,000,000... I do not care about a big gap... I am not putting my life savings at this, if I lose it won't affect me much... but if this continues to go and go it could be life changing...

I guess everyone has to weigh out their own risks and make their own decision.

for me.. this BTC Trust is good for now until the CME or such offers some other way
More...

So let me ask it this way....how would you feel if 3 years from now BTC went to 1,000,000 but GBTC went to zero? Could you live with that?
 
well... of course I would feel horrible.... but I just feel uncomfortable putting my money with the "wallets" and the no-name exchanges.... so is there a more secure option that I should consider??? I am open minded to ideas
 
John9999 said:
well... of course I would feel horrible.... but I just feel uncomfortable putting my money with the "wallets" and the no-name exchanges.... so is there a more secure option that I should consider??? I am open minded to ideas
More...

Most people store their private keys on a zip drive and keep that drive disconnected from the internet. There is no way then that your keys can be hacked. You can only be hacked if you leave your private keys on the exchange.

But aside from that, the futures will be a better alternative but you will want to buy as far out as you can to minimize your rolls. Each settlement will be in cash at the BRR settlement price. So there could be some roll costs over time. Probably not a big deal if you think it's going to 100k or higher.
 
thankx Maverick... I know there's no way to really know... but realistically when will Futures be available? by April 2018? sooner, later?
 
You must log in or register to reply here.
Back
Top