[2018-05-10] Tyler Winklevoss Explains Bill Gates How to Short Bitcoin in a Twit

stompix

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Quote from: Vladdirescu87 on May 10, 2018, 11:30:53 AM

Tyler Winklevoss Explains Bill Gates How to Short Bitcoin in a Twitter Post

Bill Gates had claimed on a talk program arranged by CNBC that he would bet against bitcoin if he could. The co-founder of a crypto exchange, Tyler Winklevoss, responded to that statement on Twitter, explaining what Microsoft’s co-founder could do to short bitcoin.

Well, wasn't this nice from him....
Looking at the price, he should have kept his mouth shut. Or his hands tied Grin

Quote from: bbc.reporter on May 11, 2018, 07:15:08 PM

@1Referee. Not even if it serves Bill Gates and his friends' self interests? I reckon he and the other billionaire bitcoin haters have a hidden agenda that wants to kill bitcoin and subserve their own cryptocoin solution.

And why would they want this? Bill Gates is not interested in business for a long time, he spends more than he tries to earn. Unlike most of the other billionaires he probably has close to zero interest in starting something new.

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Quote from: bbc.reporter on May 11, 2018, 07:15:08 PM

@1Referee. Not even if it serves Bill Gates and his friends' self interests? I reckon he and the other billionaire bitcoin haters have a hidden agenda that wants to kill bitcoin and subserve their own cryptocoin solution.

Bill Gates knows how everything works when it comes to peer to peer applications, and he is well aware of the fact that it's impossible to dismantle Bitcoin. Instead of wasting their time and effort on something that doesn't yield anything of significance, they are better off working out their own plans (which I am sure aren't crypto related). It's not that Bitcoin is forming a threat to any of them. If they want they can hop in and enjoy the ride up, but it's just not their interest.

The problem with their harsh statements is that they are basically forced to comment on something they don't like or care about. If you ask the majority of the hardcore Bitcoiners what they think about altcoins, they will very likely tell you that they don't care about redundant garbage, and that they will become worthless at some point. CNBC and all the other mainstream media channels are looking for sensation, and they know what questions they need to come up with in order to spice things up.

bbc.reporter

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@1Referee. Not even if it serves Bill Gates and his friends' self interests? I reckon he and the other billionaire bitcoin haters have a hidden agenda that wants to kill bitcoin and subserve their own cryptocoin solution.

1Referee

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Quote from: bbc.reporter on May 10, 2018, 08:53:17 PM

But again, he is also a very close, personal friend of Warren Buffet hehehe. Maybe Warren's influence caused the change of heart.

No one is capable of influencing someone being worth $90 billion and 1000x smarter than Warren Buffett.

Bill Gates changed the world with Microsoft in his own way, added value to how we use the internet, applications, etc. What did Warren Buffett do? He just entered and left markets on time, which is great for him personally, and Berkshire's shareholders, but hasn't been of any sort of value for the world itself. Buffet knows that his time has come to an end, and that must hurt, especially with how he has been wrong on Bitcoin for many years.

Also, Berkshire Hathaway has quite a large stake in Goldman Sachs, and if they really didn't like Bitcoin, they and their other co-shareholders have enough saying to at least make things more difficult for Goldman Sachs. All these old farts are nothing more than a bunch of hypocrites; they act like they hate Bitcoin, but don't have problems with Goldman Sachs becoming more valuable due to their stakes in the crypto world. Cheesy

Munger said Bitcoin is rat poison, and he is absolutely right. Bitcoin is the rat poison exterminating rats called banks and governments.

ArticMine

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I am sure there are many who are interested in taking the long side of the short. The best way to squeeze a Bitcoin short to the wall is to take delivery of the Bitcoin, and wait.

... but where to store the wallet.dat? This may be an option, https://puri.sm/products/ especially since the short would be held by non other than Bill Gates. Hardware that is especially designed for GNU / Linux running Pure OS. Pure OS is considered 100% Libre by the FSF. https://www.fsf.org/news/fsf-adds-pureos-to-list-of-endorsed-gnu-linux-distributions-1

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Quote from: darkangel11 on May 10, 2018, 01:36:53 PM

So if you're not producing anything, you can't go up in price. No product - no value. How does a domain gain value before it's even associated with a site? There are addresses that haven't been used, but they are already valuable and they aren't tangible, you 're simply buying a contract that makes you the owner for a limited time.
I was expecting Gates to be smarter, but that was before he opened his mouth.

But he really is smarter than that. He is a tech guy, he knows what bitcoin is and its potential for financial disruption. He had a few interviews where said highly of bitcoin as our generation's tour de force.

But again, he is also a very close, personal friend of Warren Buffet hehehe. Maybe Warren's influence caused the change of heart.

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The fact that he is saying that he would short BTC if there was a easy way makes me think that there is a hidden agenda or just for some reason he is telling something else rather than his honest opinion.
Because I do not believe for moment that he does not know that there is an easy way to short it.

BitHodler

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I find it pretty ironic that the upcoming elite is teaching the old elite how things should be done, and that while they very well know how to use futures or options to short Bitcoin and basically the entire crypto market.

I hope the one leading the next interview with Bill Gates to remind him of how he can actually short Bitcoin, and actually pressure him to say something about it. I would love to see what Bill's response to that is.

I'm quite sure that within 10 years the wealthiest individuals are no longer the basic billionaires that kept ruling the top lists for years, but will consist of crypto multi billionaires as well. It's only a matter of time.

Not sure if Warren Buffett and Munger will ever get to see that happen. Maybe it's better for them not to. Cheesy

richardsNY

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Quote from: darkangel11 on May 10, 2018, 01:36:53 PM

I was expecting Gates to be smarter, but that was before he opened his mouth.

Bill is just trolling. He perfectly understands what's going on and how institutions short his own Microsoft when the time is there. Most of this happens through CBOE and CME, and let them have hyped up their Bitcoin future openings last year. It's impossible for him to have missed that. On top of that, he said he sold the Bitcoins he once had, so if he knows how that works, then finding out how to short something through the aforementioned platforms is even easier. Another thing is that he made a fool of himself by stating that he would short Bitcoin with the insane wealth he accounts for. He can better go long on Microsoft and have his wealth shoot up with a few hundred million, which is far more worthwhile (not that he really need it anyway).

darkangel11

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Don't let others control your BTC -> self custody

So if you're not producing anything, you can't go up in price. No product - no value. How does a domain gain value before it's even associated with a site? There are addresses that haven't been used, but they are already valuable and they aren't tangible, you 're simply buying a contract that makes you the owner for a limited time.
I was expecting Gates to be smarter, but that was before he opened his mouth.

Vladdirescu87

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Tyler Winklevoss Explains Bill Gates How to Short Bitcoin in a Twitter Post

Bill Gates had claimed on a talk program arranged by CNBC that he would bet against bitcoin if he could. The co-founder of a crypto exchange, Tyler Winklevoss, responded to that statement on Twitter, explaining what Microsoft’s co-founder could do to short bitcoin.

"As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment," Gates said on CNBC's "Squawk Box" on Monday.
"I agree I would short it if there was an easy way to do it," he added.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/tyler-winklevoss-explains-how-to-short-bitcoin/

Topic: [2018-05-10] Tyler Winklevoss Explains Bill Gates How to Short Bitcoin in a Twit (Read 159 times)