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The Winklevoss Twins LOVE Bitcoin, own 1% of all coins
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The Winklevoss Twins LOVE Bitcoin, own 1% of all coins

  #1 (permalink)
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The Winklevoss Twins LOVE Bitcoin, own 1% of all coins

Winklevoss Twins On Bitcoin - Business Insider

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Quoting 
Cameron and Tyler Winklevoss, famous for rattling legal sabers against Facebook, garnered some attention when they claimed to own 1% of all Bitcoins, the anonymous digital currency, earlier this year.
Speaking to Business Insider's executive editor Joe Weisenthal at IGNITION 2013, the twins laid out the reasons why they love Bitcoin.

In response to the criticism that Bitcoin is purely speculative, either Cameron or Tyler (we didn't catch which one) said that "people speculate in dollars too. This idea that people aren't betting when they hang on to a dollar is incorrect."

They also love the currency's transparency, explaining that "there is nothing predictable or transparent about the US dollar. No one has any idea what the Federal Reserve's going to do, how they operate."

Bitcoin, on the other hand, is fixed at 21 million coins that will come out incrementally and predictably over time.

"Bitcoin brings the promise of email to the finance sector. Now it's instant and effectively free to send money anywhere," the twins said.

The Winklevosses: Bitcoin worth 100 times more

 
 
 
 


Winklevoss Twins Say Bitcoin Market To Hit $400B, Urge Regulators Not To Push Innovation To China - Forbes


Quoting 
Winklevoss Twins Say Bitcoin Market To Hit $400B, Urge Regulators Not To Push Innovation To China

Winklevoss Twins Say Bitcoin Market To Hit $400B, Urge Regulators Not To Push Innovation To China

The bitcoin logo
The bitcoin logo (Photo credit: Wikipedia)

Speaking at the Dealbook conference in New York, the Winklevoss twins said they expect the Bitcoin market has the potential to reach a capitalization of $400 billion, while asking regulators not to push innovation out of the U.S. and into China.

“Today, [Bitcoin’s market cap] is at $4 billion,” Cameron Winklevoss told Andrew Ross Sorkin, “we believe [it could reach] $400 billion.” While the Winklevoss twins may be trying to sell their latest product, a coming ETF that will allow retail investors to tap into the world of virtual currencies, they have hit on a market niche that is growing in interest and popularity.

Back in April, reports put the Winklevoss’ Bitcoin stake at $11 million. Since then, the price of the virtual currency has tripled, even as one of the most active Bitcoin markets, Silk Road, has been shut down, they said. Asked about Bitcoin being both untraceable and used for illicit transactions, Tyler Winklevoss said “so is the U.S. dollar,” noting that one actually has to reveal their IP address when making a Bitcoin transaction, making traceable to a certain extent.

The Winklevoss twins, made famous for their involvement with Facebook, came into contact with the world of Bitcoin through a stranger when vacationing in Ibiza. After a little research, “we thought it was an incredible invention,” Tyler explained. Given the “buggy” nature of the global financial system, where monetary transfers and transactions go through major institutions, have high costs, and can take up to several days, Bitcoins allows for a more seamless, direct transfer of capital, they said.

The fact that it’s unregulated, that there is no “Bernanke of the Bitcoin Reserve” as Sorkin put it, is what gives the virtual currency credibility. Trust in “cryptology,” Tyler said.

Finally, they made it clear that Bitcoin isn’t going anywhere any time soon. If regulators choose to attempt to shut it down, they will only push innovation overseas, possibly to China where already companies like Baidu accept it.

Mike

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  #2 (permalink)
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The 'Winklevi' are yesterday's news!

No offense; but what kind of man would refer to himself/themself as a 'twin?'

These 'crew' punks couldn't carry my jockstrap in the gym and I'm 10+ years older than these two dipshits in 3K suits.

Money & clothes don't make the man (or the 'twins').

ihmo

peace

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  #3 (permalink)
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researcher247 View Post
No offense; but what kind of man would refer to himself/themself as a 'twin?'

A very rich man, who in this instance made a very good trade...

Mike

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  #4 (permalink)
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What they don't know is that Zuckerberg is about to launch ByteCoin, which is eight times more valuable than BitCoin

Know The Rules Well So You Can Break Them Effectively
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Big Mike View Post
A very rich man, who in this instance made a very good trade...

Mike

Probably a good Reward:Risk~~so touche BM!

: )

peace

p.s. Their appearance to me is somewhat Frankenstein's "Monster-ish"--but I wrote the same thing about John Kerry. I have issues!! lol

No worries

p.p.s. I bought Jan '14 QQQ puts on Friday and today's open. I will buy Jan '14 SPY puts on a break below today's rth lows (contingent).

I am also short TWTR and looking for 36.54-36.94 and then the original IPO gap challenge of $26.00 (cycle window is DOWN until 12/02).

This is (I anticipate) NON-Santa rally year--though my target in Feb. or March is 1810 SPX and then 1900 SPX on the nose.

I'll be buying gold in the 1st quarter or just after the winter holidays for an advance into '14

My method(s). Market geometry and esoterica--no trendlines, no 'common' indicators.

Where's @greenr and why did @GaryD vanish (I know why, j/k).

Same reason @researcher247 didn't post for a long time and now somewhat infrequently.

Busy busy busy.

later... : )

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researcher247 View Post

Where's @greenr and why did @GaryD vanish (I know why, j/k).

Same reason @researcher247 didn't post for a long time and now somewhat infrequently.

Busy busy busy.

later... : )

I did not vanish, though I nearly got banned. I think @Big Mike may still be upset with me, but I hope he either understands, or will, that it was a shift. Major shift.

I have withdrawn to a solitary life of trading and occasional drivel, and living again.

@greenr became a mini-banker, and is probably becoming the master trader that he was destined to be.

Glad to see you, email me sometime.

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@Garyd

Yea G,

I will email you sometime.

We'll chat on Skype when you are in chill mode.

I have some nutrition news for you.

peace

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Winklevoss Twins to List Bitcoin Fund on Nasdaq

Winklevoss Twins to List Bitcoin Fund on Nasdaq

Can't wait to short this financial product, preferably with the use of some options to mitigate the inherent volatility of bit coins


New York Times Article:

Despite cautions and hesitations among regulators about investing in virtual currency, the Winklevoss twins are inching closer to creating the first publicly traded Bitcoin fund.

On Thursday, Cameron and Tyler Winklevoss, the brothers most widely known for their legal battles with Facebook’s co-founder, Mark Zuckerberg, disclosed in a regulatory filing that they had chosen to list their Bitcoin exchange-traded fund, the Winklevoss Bitcoin Trust, on the Nasdaq stock exchange.

The move comes one day after the Securities and Exchange Commission issued a warning to investors about Bitcoin, saying that it created new “concerns” for investors. Federal agencies have been scrambling to figure out how to regulate Bitcoin since the collapse this year of Mt. Gox, one of the most prominent exchanges for buying and selling the virtual currency.

“A new product, technology, or innovation – such as Bitcoin – has the potential to give rise both to frauds and high-risk investment opportunities,” the S.E.C. said in an alert posted to its website.

“The fact that the S.E.C. has allowed the S-1 to progress this far is an indication that it may actually happen,” said Gil Luria, an analyst with Wedbush Securities who has studied Bitcoin, referring to the S.E.C. regulatory filing.

The Winklevoss brothers, who have emerged as two (or perhaps one) of the most public faces of Bitcoin, first applied to create the exchange-traded fund, called the Winklevoss Bitcoin trust, last summer. The goal is to provide investors of any size with an easy way to bet on the future price of Bitcoin, the volatile virtual currency that has gained momentum over the past several years.

They have invested in Bitcoin companies, including the exchange BitInstant, and at one point owned more than $64 million of virtual currency itself. In February, the twins started the Winkdex, their own index to measure the price of Bitcoin, to work in conjunction with their proposed Bitcoin E.T.F.

According to the Winkdex, a single Bitcoin was worth $443 on Thursday afternoon. Coindesk, a more widely cited index, pegged the figure at $437.

The Winklevoss’s proposed fund would buy one Bitcoin for every five shares. The company the two operate, Math-Based Asset Services, would be in charge of storing the fund’s Bitcoin holdings. The company has not yet decided how much its management fee will be.

A single Bitcoin was worth only a few cents when it first appeared online in 2009, largely backed by a small number of technology enthusiasts and cryptocurrency hobbyists. The wider adoption by both consumers and technology entrepreneurs helped the price skyrocket to more than $1,000 at one point last year.

But until recently, investors had few options for speculating on that price change. The currency, which can be bought and sold among users or “unlocked” by solving complicated mathematical riddles, has no central regulator or bank. Buying Bitcoins also comes with the hassle of storing Bitcoins, which can involve physically securing a virtual “key.”

But the Winklevoss twins want to give investors an easier way into the market. Like SPDR, the widely used gold E.T.F., for example, investors would be able to invest in Bitcoin without having to actually buy and store the virtual currency.

“Our goal with this whole thing was to make it as similar to the gold E.T.F. as possible,” Cameron Winklevoss said in an interview. “We’re trying to reduce the friction of purchasing Bitcoin and securing it.”

But Mr. Luria sees Bitcoin’s wide price fluctuations as a risk for investors. Bitcoin isn’t the only commodity that trades 24 hours a day, but it does have wilder price shifts than many other assets.

“The price could decrease tremendously after the market closes, and you won’t be able to do anything about it,” Mr. Luria said.

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  #9 (permalink)
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ETF

I am a bit coins addict and have followed them for some time. The twins seem to be a bright bunch and I think the ETF will do quite well. The price targets for bitcoins are all over the place. But I think $1250+(Year-end) is a good price target.
Regards,
Brian

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  #10 (permalink)
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Yeah Magiklair, I agree they are pretty switched on guys but the danger with what they are doing is that it goes against the key spirit of bitcoin in that it introduces intermediation when none is required.

If they get it right then the good news for bitcoin fans like me is that it will massively legitimise bitcoin in the wider community. That can only be good, especially if it happens before the bankers convince the regulators to do what they can to kill it.

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