Thread: Is Bitcoin an imploding ponzi??...

This makes premium no sense to me. As I read the underlying value as of yesterday's close for Grayscale Litecoin Trust (LTCN) is $13 but the market price is $233. So a few people are willing to pay almost 18X the underlying value??? Put another way, someone could by almost 18 Lightcoin for the price of 1 LTCN share that holds 1 Lightcoin??

Maybe don't be that guy???

Market Price per Share*
At close as of 02/02/2021
$233.00

LTC Holdings per Share**
At close as of 02/02/2021
$13.00

https://grayscale.co/litecoin-trust/

GRAYSCALE LITECOIN TR LTC (LTCN) Interactive Stock Chart - Yahoo Finance

Many of their offerings appear to be open to accredited investors. I briefly read a message board post that the accredited investors are able to buy at NAV and I believe I read somewhere else they must hold from 6 to 12 months before being able to sell. Sorry as everyone knows I hate to read so somebody would have to actually read the offering documents to clarify.

In theory if someone could buy at NAV and short the shares of the same product in the open market they could lock in a significant risk free profit. Of course they would have to be able to hold the trade until the lock up expires and cover any short interest costs. Assuming they could even find the shares to borrow and sell short. Again this is something I have not explored beyond one message board so do your own due diligence.

The above is crazy and I have to think at some point all of these products will have to trade much closer to Net Asset Value.

https://grayscale.co/wp-content/uplo...2021-Final.pdf

Originally Posted by ribshaw 02/03/2021

This makes premium no sense to me. As I read the underlying value as of yesterday's close for Grayscale Litecoin Trust (LTCN) is $13 but the market price is $233. So a few people are willing to pay almost 18X the underlying value??? Put another way, someone could by almost 18 Lightcoin for the price of 1 LTCN share that holds 1 Lightcoin??

Maybe don't be that guy???

The above is crazy and I have to think at some point all of these products will have to trade much closer to Net Asset Value.

LTCN opened yesterday at $286 and traded as low as $143 today, down 46.84% for the week as I type. Would be bargain hunters grab a crayon; this is still 8X yesterday's holdings per share.



LTC Holdings per Share**
At close as of 03/24/2021
$17.57
Day Change 1.33%
https://grayscale.co/litecoin-trust/


The flagship product GBTC as of yesterday is at a discount of about 16% to holdings per share. Some people are screaming it's a bargain, only hindsight will tell.


Market Price per Share*
At close as of 03/24/2021
$44.98

Bitcoin Holdings per Share**
At close as of 03/24/2021
$52.51

Grayscale'''s Sonnenshein Addresses GBTC'''s Collapsing Premium - CoinDesk

1. Bitcoin could rise and the discount could close.
2. Bitcoin could fall and the discount could widen.
3. Bitcoin could rise and the discount could widen.
4. Bitcoin could fall and the discount could close.
5 The discount could remain steady despite what the price does.

In theory one could short BTC and buy GBTC locking in a profit of 16%. However, as we saw with LTCN there is no reason these products can't trade for exorbitant premiums. Bitcoin could swoon and GBTC could boom causing this seemingly risk free trade to blow up one's account ala Long Term Capital Management.


*It pays to know what and why you're getting into an investment. Don't ever let Wall Street hype, message board tripe, or drunk Santa babbling guide your investment decisions.

Grammy I got arrested Spring Breaking.

Originally Posted by Drayton Valley RCMP

Ask the caller a few personal questions that a real grandchild could answer but a scammer could not.
After you hang up, verify the story by calling the parents or other relatives of the “grandchild”.
Never wire money, sent gifts, or bitcoin to someone under uncertain conditions.

Drayton Valley RCMP warning public about the grandparents scam | rdnewsnow.com

In this case the caller overrode her credit card company's warning.

Originally Posted by Sabrina Barr

After revealing that she first spotted the scheme on an online advert, MoneySavingExpert.com founder Martin immediately interrupted her, warning people not to get tricked by online commercials claiming to be selling Bitcoin.

Read more: Martin Lewis tells caller she’s likely lost PS8,000 in online scam | Metro News

Here we go again.

Originally Posted by Samona Tweed

Who is Action Refund?

Action Refund is an Israeli-based company that is helping victims of online fraud. They are specialized for clients that lost money due to scams on the financial market – in binary options, Forex trading, CFDs, and cryptocurrency trading.

Action Refund Reviews – 2021 - Legal Reader

Originally Posted by Negative highlights Scamadviser

The owner of the website is using a service to hide their identity om WHOIS

According to Alexa this site has a low Alexa rank

This website is not optimized for search engines
High number of suspicious websites on this server

We found a negative association on Social Media


actionrefund.com Reviews | scam, legit or safe check | Scamadviser

This is her only article on this website as far as I can see and a very brief Google search yielded nothing more than a similarly named stylish ladies skirt/jacket combo.

Originally Posted by About

Samona Tweed is an online legal advocate providing legal advice to online users who have been victims of online scams. She works for a reputable company that aims to help online users get their money back due to all sorts of scams over the web, such as unscrupulous online purchases. Her passion for protecting fellow Millennial consumers prompted her to provide expert advice through guest posts. Samona has also been invited to do virtual counseling to online scam victims.

Samona Tweed, Author at Legal Reader

Guest Posting - Legal Reader


We only accept articles that are non-promotional (no “advertorials”), related to:

Consumer protection
Legal issues in business

Or not.