Some members have sent in questions. In response:
1) GBTC is the ETN that tracks the price of bitcoin. The correlation is not always 1:1 thus one may wish to buy bitcoin on a bitcoin exchange instead. How to do so is beyond the scope of this website. Google for instructions if you wish to do so.
2) The GBTC report is no different than any other report we send on stocks. When we send out a report, it is never a buy recommendation but merely what we are observing in real-time. A pocket pivot was observed on GBTC in yesterday's market action. Given the picture of where bitcoin stands, a report on GBTC was warranted.
3) GBTC has nothing to do with removal of trust / middle men. GBTC is merely a trading vehicle that tracks the price of bitcoin. The blockchain technology has the capability of doing this. If you wish to learn more, google keywords such as 'trust' 'bitcoin' 'blockchain' 'middle man'.
4) Decentralized exchanges (for stocks, goods, services, etc) are already in place via some cryptotechnology ICOs. They are embryonic, just as how the internet was new to the world back in the early to mid-1990s.
5) Cryptocurrencies/cryptotechnologies are beyond the scope of this site, at least for now. If you wish to learn more, a good place to start is www.coindesk.com, or just google keywords. When in doubt...
GBTC / Bitcoin Points
|Published:||31 Oct 2017 09:18 ET|
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