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Subject:  Re: OT-Bitcoin Date:  11/9/2017  8:30 PM
Author:  idoun Number:  268392 of 279138

Anyone who would consider GBTC needs to be aware of 2 factors: there is a huge markup from the price of BTC. So for anyone who can, it makes more sense to buy BTC directly.

Secondly, they have no insurance! If the BTC that GBTC is holding is stolen in a hack, or if they simply did not maintain proper backups, or if there is a phishing attack, etc, then there is going to be no recourse.

But that is the same for anyone who trusts an exchange (eg, coinbase), to hold BTC on their behalf. As far as I know, the exchanges have no insurance.
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