SecondMarket Starts First U.S. Trust for Bitcoin Virtual ...

Barry Silbert Talking SecondMarket Bitcoin Investment Trust - CNBC Squawk Box

Barry Silbert Talking SecondMarket Bitcoin Investment Trust - CNBC Squawk Box submitted by ConditionDelta to Bitcoin [link] [comments]

SecondMarket's Bitcoin Investment Trust puts bitcoin in IRAs - The Tell - MarketWatch

SecondMarket's Bitcoin Investment Trust puts bitcoin in IRAs - The Tell - MarketWatch submitted by bVector to NSL [link] [comments]

A talk about bitcoins with Jeremy Allaire (Circle), Barry Silbert (SecondMarket/Bitcoin Investment Trust)

A talk about bitcoins with Jeremy Allaire (Circle), Barry Silbert (SecondMarket/Bitcoin Investment Trust) submitted by plato14 to Bitcoin [link] [comments]

SecondMarket’s Bitcoin Investment Trust Amasses $61.1m in 3 Months

"The BIT, launched as a vehicle for institutional investors to get into bitcoin, stood at a $61.1m (67,300 BTC) net asset value on Friday.
Shares in the Trust edged along for around two weeks after its inception on 26th September. Following this, they began creeping up, before beginning their meteoric rise around 4th November.
The net asset value (NAV) per share peaked a month later, before falling back. In short, the NAV of the BIT has tracked bitcoin’s own price movements very closely.
Barry Silbert, CEO at SecondMarket, said that performance has exceeded his expectations."
http://www.coindesk.com/secondmarkets-bitcoin-investment-trust-amasses-61-1million-in-3-months/
submitted by georedd to Bitcoin [link] [comments]

Wrapping up the block size debate with voting | jl2012 at xbt.hk | Aug 04 2015

jl2012 at xbt.hk on Aug 04 2015:
As now we have some concrete proposals
(https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-July/009808.html),
I think we should wrap up the endless debate with voting by different
stakeholder groups.
Candidate proposals
Candidate proposals must be complete BIPs with reference implementation
which are ready to merge immediately. They must first go through the
usual peer review process and get approved by the developers in a
technical standpoint, without political or philosophical considerations.
Any fine tune of a candidate proposal may not become an independent
candidate, unless it introduces some “real” difference. “No change” is
also one of the voting options.
Voter groups
There will be several voter groups and their votes will be counted
independently. (The time frames mentioned below are just for example.)
Miners: miners of blocks with timestamp between 1 to 30 Sept 2015 are
eligible to vote. One block one vote. Miners will cast their votes by
signing with the bitcoin address in coinbase. If there are multiple
coinbase outputs, the vote is discounted by output value / total
coinbase output value.
Many well-known pools are reusing addresses and they may not need to
digitally sign their votes. In case there is any dispute, the digitally
signed vote will be counted.
Bitcoin holders: People with bitcoin in the UTXO at block 372500 (around
early September) are eligible to vote. The total “balance” of each
scriptPubKey is calculated and this is the weight of the vote. People
will cast their votes by digital signature.
Special output types:
Multi-sig: vote must be signed according to the setting of the
multi-sig.
P2SH: the serialized script must be provided
Publicly known private key: not eligible to vote
Non-standard script according to latest Bitcoin Core rules: not eligible
to vote in general. May be judged case-by-case
Developers: People with certain amount of contribution in the past year
in Bitcoin Core or other open sources wallet / alternative
implementations. One person one vote.
Exchanges: Centralized exchanges listed on Coindesk Bitcoin Index,
Winkdex, or NYSE Bitcoin index, with 30 days volume >100,000BTC are
invited. This includes Bitfinex, BTC China, BitStamp, BTC-E, itBit,
OKCoin, Huobi, Coinbase. Exchanges operated for at least 1 year with
100,000BTC 30-day volume may also apply to be a voter in this category.
One exchange one vote.
Merchants and service providers: This category includes all bitcoin
accepting business that is not centralized fiat-currency exchange, e.g.
virtual or physical stores, gambling sites, online wallet service,
payment processors like Bitpay, decentralized exchange like
Localbitcoin, ETF operators like Secondmarket Bitcoin Investment Trust.
They must directly process bitcoin without relying on third party. They
should process at least 100BTC in the last 30-days. One merchant one
vote.
Full nodes operators: People operating full nodes for at least 168 hours
(1 week) in July 2015 are eligible to vote, determined by the log of
Bitnodes. Time is set in the past to avoid manipulation. One IP address
one vote. Vote must be sent from the node’s IP address.
Voting system
Single transferable vote is applied.
(https://en.wikipedia.org/wiki/Single_transferable_vote). Voters are
required to rank their preference with “1”, “2”, “3”, etc, or use “N” to
indicate rejection of a candidate.
Vote counting starts with every voter’s first choice. The candidate with
fewest votes is eliminated and those votes are transferred according to
their second choice. This process repeats until only one candidate is
left, which is the most popular candidate. The result is presented as
the approval rate: final votes for the most popular candidate / all
valid votes
After the most popular candidate is determined, the whole counting
process is repeated by eliminating this candidate, which will find the
approval rate for the second most popular candidate. The process repeats
until all proposals are ranked with the approval rate calculated.
Interpretation of results:
It is possible that a candidate with lower ranking to have higher
approval rate. However, ranking is more important than the approval
rate, unless the difference in approval rate is really huge. 90% support
would be excellent; 70% is good; 50% is marginal; <50% is failed.
Technical issues:
Voting by the miners, developers, exchanges, and merchants are probably
the easiest. We need a trusted person to verify the voters’ identity by
email, website, or digital signature. The trusted person will collect
votes and publish the named votes so anyone could verify the results.
For full nodes, we need a trusted person to setup a website as an
interface to vote. The votes with IP address will be published.
For bitcoin holders, the workload could be very high and we may need
some automatic system to collect and count the votes. If people are
worrying about reduced security due to exposed raw public key, they
should move their bitcoin to a new address before voting.
Double voting: people are generally not allowed to change their mind
after voting, especially for anonymous voters like bitcoin holders and
solo miners. A double voting attempt from these classes will invalidate
all related votes.
Multiple identity: People may have multiple roles in the Bitcoin
ecology. I believe they should be allowed to vote in all applicable
categories since they are contributing more than other people.
original: http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/009887.html
submitted by bitcoin-devlist-bot to bitcoin_devlist [link] [comments]

The SecondMarket / Bitcoin Investment Trust bidding syndicate for the US Marshals bitcoin auction was outbid on all blocks

The SecondMarket / Bitcoin Investment Trust bidding syndicate for the US Marshals bitcoin auction was outbid on all blocks submitted by Barbatos_ to Bitcoin [link] [comments]

SecondMarket releases Bitcoin Investment Trust (BIT) to accredited investors, 'derives its value solely from the price of bitcoin'

SecondMarket releases Bitcoin Investment Trust (BIT) to accredited investors, 'derives its value solely from the price of bitcoin' submitted by dreyzehner to Bitcoin [link] [comments]

SecondMarket users just got this email regarding Bitcoin Investment Trust (BIT)

I’m excited about today. Over the past two years I’ve become a big believer in bitcoin, the digital currency and transaction network. Friends, colleagues – honestly, anyone who would listen – have heard me describe the potential benefits of bitcoin. It could be this generation’s store of value, or a true global currency, or a better money transfer network. Or all three.
Or perhaps not. Bitcoin faces regulatory hurdles and widespread adoption concerns that make investing in bitcoin a very risky proposition. There is a real possibility that the price of bitcoin drops to zero. It is challenging to buy, store and secure bitcoin, and many investors simply don’t want to deal with the hassle of it. Yet there is an excitement about the prospects for bitcoin and we know some investors are looking to allocate a percentage of their portfolio to bitcoin.
That’s why I’m pleased to announce the launch of the Bitcoin Investment Trust (BIT), a private vehicle for institutional and accredited investors that is invested solely in bitcoin and derives its value from the price of bitcoin. Qualified investors gain exposure to the price movement of bitcoin without the challenges of buying, storing and safekeeping bitcoins. Alternative Currency Asset Management, LLC, a wholly-owned subsidiary of SecondMarket, is the sponsor of the fund.
SecondMarket has a long track record of making alternative assets more accessible to a broader group of investors. Our infrastructure enables streamlined capital raising, investor communication and periodic liquidity for private funds, so we believe a private, bitcoin-related fund is a perfect fit for the SecondMarket platform.
Bitcoin is clearly not for everyone. If you don’t know much about bitcoin, take a look at our education center and perhaps it’ll pique your interest. But if you’re an accredited investor interested in getting exposure to bitcoin, take a look at the materials and decide for yourself.
submitted by smokeyj to Bitcoin [link] [comments]

SecondMarket’s Bitcoin Investment Trust puts bitcoin in IRAs

SecondMarket’s Bitcoin Investment Trust puts bitcoin in IRAs submitted by runlizard to Bitcoin [link] [comments]

SEC to Bitcoin Investment Trust and SecondMarket: 'cease and desist'

submitted by knight222 to btc [link] [comments]

Bitcoin Investment Trust by SecondMarket

Bitcoin Investment Trust by SecondMarket submitted by sebicas to Bitcoin [link] [comments]

SEC to Bitcoin Investment Trust and SecondMarket: 'cease and desist'

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

SecondMarket Looks to Make Bitcoin Investment Trust Open to All Investors

SecondMarket Looks to Make Bitcoin Investment Trust Open to All Investors submitted by BTCNews to BTCNews [link] [comments]

SecondMarket / Bitcoin Investment Trust Loses Silkroad Auction

SecondMarket / Bitcoin Investment Trust Loses Silkroad Auction submitted by jamaniajo to Bitcoin [link] [comments]

SecondMarket’s Bitcoin Investment Trust Amasses $61.1m in Under 3 Months

SecondMarket’s Bitcoin Investment Trust Amasses $61.1m in Under 3 Months submitted by yyhhggt to Bitcoin [link] [comments]

SecondMarket launches Bitcoin Investment Trust, invests $2 million

SecondMarket launches Bitcoin Investment Trust, invests $2 million submitted by bitkeef to Bitcoin [link] [comments]

SecondMarket Launches A Bitcoin Investment Trust For Accredited Investors

SecondMarket Launches A Bitcoin Investment Trust For Accredited Investors submitted by isting to TechNewsToday [link] [comments]

SecondMarket CEO Barry Silbert Talks Vision for Bitcoin Investment Trust

SecondMarket CEO Barry Silbert Talks Vision for Bitcoin Investment Trust submitted by BTCNews to BTCNews [link] [comments]

Announcement: The SecondMarket / Bitcoin Investment Trust bidding syndicate for the US Marshals bitcoin auction was outbid on all blocks

Announcement: The SecondMarket / Bitcoin Investment Trust bidding syndicate for the US Marshals bitcoin auction was outbid on all blocks submitted by MuchBitcoin to MuchBitcoin [link] [comments]

SecondMarket Launches Bitcoin Investment Trust

SecondMarket Launches Bitcoin Investment Trust submitted by onbitcoin to Bitcoin [link] [comments]

SecondMarket Launches Bitcoin Investment Trust - Bitcoin Forum

submitted by bitcoinforum to Bitcoinforum [link] [comments]

Bitcoin Investment Trust Launches on SecondMarket

Bitcoin Investment Trust Launches on SecondMarket submitted by vbuterin to BitcoinMagazine [link] [comments]

How bitcoin investment trust (gbtc) works What Does Bitcoin investment trust bit - Marmoraria ... Investing in Bitcoin - Grayscale Bitcoin Trust & Its MASSIVE Holdings of Bitcoin Fascination About Bitcoin investment trust bit ... Bitcoin Investment Trust (OTCQX: GBTC)

The idea of a Bitcoin investment trust is simple. Such a fund makes investing in Bitcoins an acceptable and appropriate option for financial institutions like hedge funds or banks. The second reason is to help people invest in Bitcoins safely. For these purposes The Bitcoin Investment Trust was created. It was started by the Grayscale Company. Today SecondMarket, a platform where privately-held or growth-stage companies can raise capital, says it is now offering a new Bitcoin Investment Trust. It’s an open-ended fund […] SecondMarket, Inc. and Bitcoin Investment Trust (BIT) Settle Charges Relating to Unlawful Redemptions of BIT Shares during a Continuous Distribution. July 11, 2016 – The Securities and Exchange Commission today announced that SecondMarket, Inc., a New York broker-dealer registered with the Commission, and Bitcoin Investment Trust This evening, SecondMarket, took a further step into the Bitcoin space through announcing its new work with the Bitcoin Investment Trust (BIT), a private investment vehicle.The BIT is the first U.S.-based private investment vehicle to invest in bitcoin alone and received a $2 million seed investment from SecondMarket. The SEC filed an administrative proceeding today regarding a Cease & Desist instituted against SecondMarket and Bitcoin Investment Trust (BIT). The entire affair relates back to an event in 2013 ...

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How bitcoin investment trust (gbtc) works

You may know, the trading symbol #GBTC represents the #BitcoinInvestmentTrust (#BIT) investment vehicle, which is like an ETF for accredited investors to ind... https://rebrand.ly/rawealthpartners Join Now Getting The GBTC - Grayscale Bitcoin Trust - Bitcoin Investment Trust To Work, invest bitcoin Some investors des... Is the Grayscale Bitcoin or Ethereum Trust a Good Investment? (GBTC & ETHE) - Duration: 17:48. The Cryptoviser 2,969 views. 17:48. Is the Grayscale Bitcoin or Ethereum Trust a Good Investment? (GBTC & ETHE) - Duration: 17:48. The Cryptoviser 1,992 views. 17:48. (Grayscale Bitcoin Trust Overview) - Duration: 13:33. Bitcoin for Beginners 7,326 views. 13:33. ... Silver Bull Market Investment Strategies with John Feneck - Duration: 22:37.

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