Australia's first listed Bitcoin company

Discussion in 'Digital Currencies' started by whinfell, Mar 13, 2014.

  1. whinfell

    whinfell Well-Known Member Silver Stacker

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    I wasn't sure whether to post this in the Stocks & Derivatives section, or here! :)

    Motley Fool article: http://www.fool.com.au/2014/03/13/australias-first-listed-bitcoin-company/


    AFR article: http://www.afr.com/p/technology/digitalbtc_becomes_first_bitcoin_FP9S763rHKb54z5libdPXP
     
    whinfell, Mar 13, 2014
    #1
  2. trew

    trew Active Member Silver Stacker

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    Anyone here heard of this bitcoin operation - "Digital CC" or DigitalBTC ?
    Anyone use their 'trading desk' ?



    I wrote a much longer post but then realised this thread is in the public domain and this discussion is about a listed company so I had a cut most of it out.
     
    trew, Mar 13, 2014
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  3. BiGs

    BiGs Active Member

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    Probably a good intra day stock to trade, for the punters. Expect a heap of volatility when the plebs pile in.
     
    BiGs, Mar 13, 2014
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  4. Earthjade

    Earthjade Member

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    I'm perplexed at this one.
    It's like bringing a third party into a BTC transaction - you have the extra factor of "management" adding or subtracting to your indirect exposure to Bitcoin.
    Buying stocks in this company would be like saying:

    "Look, the regulatory uncertainty around Bitcoin isn't enough for me. I also need to add in the business uncertainty of a new start up into the mix when I invest my money."

    * When Bitcoin prices go up, there's a chance this stock will crash because, well, just because. Their tech could **** up, they could make bad decisions, people might not care to buy the stock, some government law screws up their plans...
    * When Bitcoin prices go down, there is a 100% chance the stock will go down just because they're tied to Bitcoin.

    Look at the YTD chart for Bitcoin Shop Inc:

    https://www.google.com/finance?cid=16240854

    ^ Graph looks a lot like the launching of a new alt coin, doesn't it?
    Pump and duuuump.
     
    Earthjade, Mar 13, 2014
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  5. trew

    trew Active Member Silver Stacker

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    Well MEJ up 108% today, so the punters are jumping all over this one.
     
    trew, Mar 14, 2014
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  6. Earthjade

    Earthjade Member

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    Of course. This is the pump phase.
    Clench your butt cheeks for the inevitable dump.
     
    Earthjade, Mar 14, 2014
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  7. alor

    alor Well-Known Member Silver Stacker

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    is there an option to bet on the demise of their ceo ?? :)
     
    alor, Mar 14, 2014
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  8. heartastack

    heartastack Well-Known Member Silver Stacker

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    Derivatives!
     
    heartastack, Mar 14, 2014
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  9. trew

    trew Active Member Silver Stacker

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    It's quite standard practice really.

    During the late 90s dotcom boom, lots of zombie listed exploration companies suddenly became dotcom companies.
    Then lots of zombie dotcom companies suddenly became iron ore explorers during the recent iron ore boom.

    Shareholder mining is quite a lucrative business.


    But I'm sure in this case the directors will only be looking after the shareholder's best interests :).
    I mean who wouldn't want this guy as an executive chairman ?


    [​IMG]
     
    trew, Mar 14, 2014
    #9

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