@Samson Mow View quoted note →

Wow, Grayscale has lost over 14,000 BTC in their ETF in 3 trading days (619k to 605k). This BTC has to be dumped on the market. One would assume almost all of those proceeds would be moved to another Bitcoin ETF but hard to know and may be a drag on the market.

Lots of dollar/bitcoin price volatility, but this is the what is most important.

This is really important if you are concerned about the bitcoin price in the short run. Because of the ridiculous 1.5% management fee, there is going to be mass dumping of GBTC shares (which represent 600k+ bitcoin) and Grayscale as I understand it will then have to redeem large amounts of shares and sell the bitcoin representing those shares. My guess is most of the GBTC holders will buy bitcoin or another ETF with lower fees, but there may be a time lag and some GBTC holders may not invest back into bitcoin at all. View quoted note →

“Although bitcoin could go up to $20,000, it can go to $30,000. It’s on its way to zero — somewhere between zero and 200. It’s a utility token for criminals, terrorists, money launderers, tax evaders — they’ll always find some use for it. So it might not go all the way to zero. It’s clearly a bubble — it looks like the second biggest bubble in history after tulip mania.” Jim Rickards, December 2017

Has anyone heard anything from Nick Szabo? I always thought he was either Satoshi or in a group of folks who were Satoshi.