Can the Winklevoss twins actions be explained?

ThatDGuy

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Quote from: CoinBitPhrase on May 06, 2015, 09:27:13 PM

I believe they are in it for the long run, You see as bitcoin value increases their decision will look intelligent

This is the right answer, considering what 6 years has shown, holding for more than one year and through more than one bubble cycle before selling any seems like a good move. They also seem to be invested in the infrastructure, which all would have suffered if they pulled a large amount out during the bear trend.

BillyBobZorton

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Quote from: minerpumpkin on May 07, 2015, 06:32:49 AM

Quote from: oblivi on May 06, 2015, 09:19:33 PM

Quote from: minerpumpkin on May 06, 2015, 07:00:43 PM

Quote from: mrhelpful on May 06, 2015, 03:11:50 PM

I mean they understand fiats been dying, so the logical step is to create something that hedges that for them.

So not everything will be lost, if there was another bubble in itself. If we had a similar crisis on on our hands like back in 2008 more people be inclined to slolwy put things that retain value such as bitcoin, esp if they had the etf people be buying it like candy.

I don't think they necessarily believe FIAT is dying... I think to expect FIAT to die within the near- or even mid- or far-future is rather unrealistic. Why would that happen? It's merely the fact that they hope for even bigger returns, and can't even liquidate these amounts on regular exchanges, to begin with!

Winklevoss twins are realistic, they don't see BTC replacing FIAT, but they see it replacing the major electronic money transactors in the world, which would mean a marketcap higher than we can imagine if you do the calculations.

Yeah that's more about it, yes! I would be careful to expect BTC replacing VISA or anything, but it might just find its specific niche somewhere... Maybe remittance, maybe only being an asset very much like Gold. My bet is also on the backbone-technology/-protocol outcome.

Well, I think once people realize you can make worldwide instant transactions with ridiculous fees regardless you are moving 10 dollars or one million... people will stop using SEPA, and credit card transactions when you have BTC. I would use BTC all day daily if other people used BTC, the thing is, i've never seen anyone outside this forum using it.

minerpumpkin

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Quote from: oblivi on May 06, 2015, 09:19:33 PM

Quote from: minerpumpkin on May 06, 2015, 07:00:43 PM

Quote from: mrhelpful on May 06, 2015, 03:11:50 PM

I mean they understand fiats been dying, so the logical step is to create something that hedges that for them.

So not everything will be lost, if there was another bubble in itself. If we had a similar crisis on on our hands like back in 2008 more people be inclined to slolwy put things that retain value such as bitcoin, esp if they had the etf people be buying it like candy.

I don't think they necessarily believe FIAT is dying... I think to expect FIAT to die within the near- or even mid- or far-future is rather unrealistic. Why would that happen? It's merely the fact that they hope for even bigger returns, and can't even liquidate these amounts on regular exchanges, to begin with!

Winklevoss twins are realistic, they don't see BTC replacing FIAT, but they see it replacing the major electronic money transactors in the world, which would mean a marketcap higher than we can imagine if you do the calculations.

Yeah that's more about it, yes! I would be careful to expect BTC replacing VISA or anything, but it might just find its specific niche somewhere... Maybe remittance, maybe only being an asset very much like Gold. My bet is also on the backbone-technology/-protocol outcome.

CoinBitPhrase

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I believe they are in it for the long run, You see as bitcoin value increases their decision will look intelligent

oblivi

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Quote from: minerpumpkin on May 06, 2015, 07:00:43 PM

Quote from: mrhelpful on May 06, 2015, 03:11:50 PM

I mean they understand fiats been dying, so the logical step is to create something that hedges that for them.

So not everything will be lost, if there was another bubble in itself. If we had a similar crisis on on our hands like back in 2008 more people be inclined to slolwy put things that retain value such as bitcoin, esp if they had the etf people be buying it like candy.

I don't think they necessarily believe FIAT is dying... I think to expect FIAT to die within the near- or even mid- or far-future is rather unrealistic. Why would that happen? It's merely the fact that they hope for even bigger returns, and can't even liquidate these amounts on regular exchanges, to begin with!

Winklevoss twins are realistic, they don't see BTC replacing FIAT, but they see it replacing the major electronic money transactors in the world, which would mean a marketcap higher than we can imagine if you do the calculations.

minerpumpkin

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Quote from: mrhelpful on May 06, 2015, 03:11:50 PM

I mean they understand fiats been dying, so the logical step is to create something that hedges that for them.

So not everything will be lost, if there was another bubble in itself. If we had a similar crisis on on our hands like back in 2008 more people be inclined to slolwy put things that retain value such as bitcoin, esp if they had the etf people be buying it like candy.

I don't think they necessarily believe FIAT is dying... I think to expect FIAT to die within the near- or even mid- or far-future is rather unrealistic. Why would that happen? It's merely the fact that they hope for even bigger returns, and can't even liquidate these amounts on regular exchanges, to begin with!

minerpumpkin

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Quote from: johnyj on May 05, 2015, 06:29:02 PM

Why xxx doesn't cash out his coins has become the standard Q&A Grin

Why don't central banks cash out their gold? They bought it at $35 per ounce and now it is $1200!

Because they got those gold so cheap, they don't have the urge to cash out extra reserves when they have enough money to spend

Also, they can't really do so because the missing liquidity is preventing them from even doing so. If some central bank sold even 1% of their Gold reserves, it would most likely kick the price of Gold into such as big dive that the remainder of their holdings would lose quite some of its value, as well!

mrhelpful

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I mean they understand fiats been dying, so the logical step is to create something that hedges that for them.

So not everything will be lost, if there was another bubble in itself. If we had a similar crisis on on our hands like back in 2008 more people be inclined to slolwy put things that retain value such as bitcoin, esp if they had the etf people be buying it like candy.

BillyBobZorton

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Quote from: johnyj on May 05, 2015, 06:29:02 PM

Why xxx doesn't cash out his coins has become the standard Q&A Grin

Why don't central banks cash out their gold? They bought it at $35 per ounce and now it is $1200!

Because they got those gold so cheap, they don't have the urge to cash out extra reserves when they have enough money to spend

People don't have education in long term vision. They are victims of a culture that always indoctrinates us into thinking long term and nothing else. Those will be the ones that will not retire thanks to Bitcoin in 10 years. Sad to see.

ElectricMucus

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Yes it can be explained with Unwarranted Self-Importance or in short USI. [NSFW]

Yeah I did that on purpose.

johnyj

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Beyond Imagination

Why xxx doesn't cash out his coins has become the standard Q&A Grin

Why don't central banks cash out their gold? They bought it at $35 per ounce and now it is $1200!

Because they got those gold so cheap, they don't have the urge to cash out extra reserves when they have enough money to spend

smoothie

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LEALANA Bitcoin Grim Reaper

Or maybe they just wanted to not hold fiat currency in large quantities and they see fiat as a dying method to hold value/wealth.

Dollars and euros are just a government decreed currency that "has" value because their issuing parties say they have value.

techgeek

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Quote from: tss on May 05, 2015, 03:17:22 PM

they are just like you and me. they don't have a magic crystal ball to see in to the future of bitcoin price. they do have 20/20 hindsight vision though, just like you.

yeah, but the huge difference is that they have $200 mill to blow, and we aint got anything lol.

They can afford risk while we cant, and while they are doing this its more of a science project to them. Also, they might not see the future price, but they can be ahead of the price movement at all levels if they ever get the etf finished and accepted.

tss

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they are just like you and me. they don't have a magic crystal ball to see in to the future of bitcoin price. they do have 20/20 hindsight vision though, just like you.

neurotypical

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Quote from: ensurance982 on May 05, 2015, 12:22:53 PM

Quote from: cellard on May 05, 2015, 11:52:04 AM

Quote from: necrita on May 05, 2015, 12:33:22 AM

When the winklevosses were prudent to make a wise investment in BTC in 2012, why did they not sell a large percentage in the great BTC rally of 2013?

It's widely speculated that they own 1% of coins in circulation. Which means during the rally their BTC holdings were worth at least $100 million. When their combined net worth is about $200 million why would they not sell out. It would have increased their net worth by 50% overnight.
Did the BTC market not have enough liquidity to make them whole, if they decided to cash out a percentage of their holdings?
There are people on the forums who were apparently able to cash out $1MM worth of BTC on finex.

They are here for the long run, they know we are still on the very, very early days, the expected Bitcoin marketcap for them is on the trillions, as it has the potential for defeating VISA and the rest of electronic payment combined, thats the goal and thats what everyone that is here for long term should strive for.

In my opinion, VISA has a completely different business model or function than Bitcoin. Bitcoin is a currency, and VISA is a specific payment system. VISA could even go as far as offering Bitcoin integration at some point! I don't think Bitcoin will replace, VISA, FIAT money, or anything!

It doesn't necessarly mean replacing, but beating them in terms of transaction volume (which could be done without replacing them, and in return BTC would be on the trillions, at like 350K a coin).

HI-TEC99

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A big reason for them not cashing out might be liquidity, but another could be limits on cash withdrawals. In 2013 BTC china and Mt Gox were the main exchanges where it was possible to dump a huge amount of Bitcoins. I think Mt Gox limited withdrawals to $1 million per year even before they started blocking cash withdrawals. I guess BTC china and all the other exchanges had limits on how much cash you could withdraw a year.

ensurance982

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Trust me!

Quote from: cellard on May 05, 2015, 11:52:04 AM

Quote from: necrita on May 05, 2015, 12:33:22 AM

When the winklevosses were prudent to make a wise investment in BTC in 2012, why did they not sell a large percentage in the great BTC rally of 2013?

It's widely speculated that they own 1% of coins in circulation. Which means during the rally their BTC holdings were worth at least $100 million. When their combined net worth is about $200 million why would they not sell out. It would have increased their net worth by 50% overnight.
Did the BTC market not have enough liquidity to make them whole, if they decided to cash out a percentage of their holdings?
There are people on the forums who were apparently able to cash out $1MM worth of BTC on finex.

They are here for the long run, they know we are still on the very, very early days, the expected Bitcoin marketcap for them is on the trillions, as it has the potential for defeating VISA and the rest of electronic payment combined, thats the goal and thats what everyone that is here for long term should strive for.

In my opinion, VISA has a completely different business model or function than Bitcoin. Bitcoin is a currency, and VISA is a specific payment system. VISA could even go as far as offering Bitcoin integration at some point! I don't think Bitcoin will replace, VISA, FIAT money, or anything!

jl2012

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Quote from: necrita on May 05, 2015, 12:33:22 AM

It's widely speculated that they own 1% of coins in circulation. Which means during the rally their BTC holdings were worth at least $100 million. When their combined net worth is about $200 million why would they not sell out. It would have increased their net worth by 50% overnight.

Why should they want to increase their net wealth, in terms of USD, by 50%?

cellard

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Quote from: necrita on May 05, 2015, 12:33:22 AM

When the winklevosses were prudent to make a wise investment in BTC in 2012, why did they not sell a large percentage in the great BTC rally of 2013?

It's widely speculated that they own 1% of coins in circulation. Which means during the rally their BTC holdings were worth at least $100 million. When their combined net worth is about $200 million why would they not sell out. It would have increased their net worth by 50% overnight.
Did the BTC market not have enough liquidity to make them whole, if they decided to cash out a percentage of their holdings?
There are people on the forums who were apparently able to cash out $1MM worth of BTC on finex.

They are here for the long run, they know we are still on the very, very early days, the expected Bitcoin marketcap for them is on the trillions, as it has the potential for defeating VISA and the rest of electronic payment combined, thats the goal and thats what everyone that is here for long term should strive for.

mrhelpful

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Being rich happens actually overnight, but the hindsight is whats left unsaid like putting in 11 years of hard work to build a company.

The variation of time length depends on what the type of business maybe, but that just only means they sold something existed to americans / everyone in general what existed but it in a nicer way.

Their actions are the same, since they see existing exchanges like bitstamp.

Topic: Can the Winklevoss twins actions be explained? (Read 2136 times)