Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21253989 times)
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JorgeStolfi
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September 03, 2014, 02:52:42 AM

It looks like GABI will not be like SMBIT.

SMBIT (for what I know) is supposed to just buy bitcoins when clients invest (buy SMBIT shares), and sell bitcoins when clients liquidate (sell the shares back to SMBIT).  Both operations use a fixed price of 0.1 BTC per share, converted to USD according to the market price at the time of the transaction (buy or liuidate), with fixed (non-trivial) fees.  Thus an SMBIt share is just a receipt for 0.1 BTC stored by SMBIT.

GABI looks more like "give us your money, we will invest it in a portfolio of bitcoin and bitcoin-related entrerprise and other things as well, as we see fit, buying and selling so as to increase our holdings and hence the value of your shares".  Is this interpretation correct?