Topic: The Winkle Twins (Read 4235 times)

Hey doobadoo,

I discovered your great call to exit fully around $235. I see that you are still completely out.

I'm worried you might be taking too much risk this way?

I can follow your reasoning how bitcoin can be improved and how many are motivated by greed, and not by the fundamental freedom values bitcoin represents.

I once read a book about innovation within Sony or Philips and there the rule was followed that a new technology/product needs at least 7 advantages to be able to beat the established one, if it does not have this, then they wouldn't try to launch and market it as most users wouldn't find it worthwhile doing the switch and the tipping point for mass conversion would never be reached, ending up in a failure.

I'm often thinking this will be true for bitcoin too. I see you can point to some innovations but I'm thinking you'll need a lot more of them before you can get one of the ground that would actually motivate people enough to make the switch. Hence why I think that investing in bitcoin until then is wise. I wouldn't want me or you to be left behind.

What are your thoughts about this?

 

Maco's brother FTW...

I have a win brother, can I play the same role? NOT.

"Listen to what they say, they are open about it.  They don't really talk about what they will do to make  Bitcoin succeed as a system that will benefit their users.  They are talking about overcoming a regulatory challenge to shuffle paper and let people speculate on its future".

I think that's already more than most people do. Not all speculation is bad speculation. Without speculation, no liquid markets and increased interest. Don't confuse the Ponzi you know as the 'markets' for real capitalism.

I'm happy we have people who are sincerely interested in a free and open system of finance. While your suggestions might not have been given much credence whenever you posted them, I'm sure there are many other people here who aren't just interested in a get-rich quick scheme. There are enough developers and enthusiasts interested in the concept of cryptocurrencies for many of these drawbacks in the Bitcoin protocol to be addressed sooner rather than later. The problem is that the development process can take quite a while and most people who are working on their own projects don't like to divulge all their developments until they have working prototypes available. The ball has already started rolling. I expect a bright future for open source currencies.

Without bad investment good investment is impossible.   These are the same fallacious arguments made by defenders of the credit-bubble blowing schemes of central banks.   Without the cheap dumb money, good ideas would never come about.  

It is a complete fallacy.  By diverting money into get rich quickism bs schemes like pets.com many good ideas were never funded.  You fall into the trap of believing that credit bubble ACTUALLY expand resources.  That ponzi's draw in new investment dollars and make things happen.

Its all wrong.  Bad ideas and ponzi's shread and destroy good things.  The Winkle-cock twins see another angle to play to suck value from the productive without innovating or creating a dam thing.  Just like they did with facebook.  Love or hate the company, zuck built a product people like and use and benefit from in some way.  The Winkle-cocks cried foul b/c they thought the value was in the idea.  It wasn't, plenty of losers have good ideas.  They just don't have the creativity, work ethic, management skill and ability to martial the wherewithal to achieve the dream of the idea.  

Then there are the leaches like the Winkle-cocks, who use the courts and the scamish infrastructure of society to suck out value without producing a god dam thing.

Listen to what they say, they are open about it.  They don't really talk about what they will do to make  Bitcoin succeed as a system that will benefit their users.  They are talking about overcoming a regulatory challenge to shuffle paper and let people speculate on its future as oppose to helping to actually shape and contribute to that future.  They literally say they are looking to sell the idea of Bitcoin only, and make it easier for people to "buy-in" to the idea.

That make them leaches, not inventors or innovators, but why would you expect an old dog to learn new tricks?  First with Facebook, now with Bitcoin.  A leach is a leach.

Get rich quick folks are what make technology mainstream. Some get rich and most get burned, but the fact is without these idiots we wouldnt have things we do today. Look at the dot com bubble for example. People threw away millions in failed crappy online websites and companies that lost them all their money, but without them we wouldnt have the few sites that got it right. Long story short, we need everyone in the community because eventually they will be back and we might as well take their money now, if they dont wait it out.

Ya man, the Twins need various exemptions which they are unlikely to get.

Many people use radical political philosophies as a Road to Power and Wealth...
Even on a small scale = having 1,000 Twitter followers like some 4th string porn starlet.

Well, they started buying at $8 - $9... I don't know if that's when the bulk of their purchase was made, but I'd say they're doing alright.

A LOT of people had the facebook idea.  Friendster, Bebo, Myspace...so many others.  Fact is, Zuckerberg figured out how to build the community and attract users better than the rest.  The Winkle-cock jerks think they deserved a cut of the dough because they talked the idea over with Zuck, and maybe designed a layout or two. 

These guys are punching well above their weight.  I hope they buckle and dump this fucker down to $2.  Maybe then we can work on a better crypto currency, after we flush out the get rich quick folks.

Winklevoss Twins are running a pump and dump.   In the interview they said its so much easier to get some one interested in bitcoin than it is to explain to them how to use it.   They see that as a flaw they are fixing with the etf.  They want to make btc like gold.  THEIR WORDs.  Keep in mind now one uses gold for commerce.  Clearly they don't care about the true goal of the project of creating an alternate currency/payment system that is superior and controlled directly by the community of users as opposed to the government and powerful banking cartels.  Thats what makes the blockchain not only worth TRILLIONs, but also improves humanity with a free people's money the Government & Friends can't use to exploit us.  The etf, make it like gold route will only make the blockchain worth some Billions.

The don't care about creating a reliable currency and unit of account for people living in oppressive 3rd world regimes, so that people and work and trade and feed their families without the terror of having their national currency constantly becoming worthless in their hands.  See Zimbabwe...iran...venuzuela

Now thats fine for you if you are in the camp that bot a few grand under 100 and when it goes to 10,000 and now you quit your job and retire.  But its not what i'm here for.

I pray this etf thing flops and never gets approved.

More and more I am starting to understand why satoshi got PO'd and left this community.   Most of you folks here are just buying up BTC hoping for it to shoot up so you can get rich.  Well good for you.  But what if this incessant focus on making btc work is blinding us away from building something better.

All the alt currency attempts (with maybe namecoin as an exception) are really low grade forks, designed as pump and dumps.  Shame on us.  By now we should have launched a 2.0 cryptocurrency that solved the blockchain bloat problem, and moved to a better more efficient record keeping system.

If i had the technical chops, I'd do it, but i don't.  A while ago I posted a few ideas for a better cryto, and got very little interest.  Every one is hell bent on taking bitcoin all the way regardless of whether its the best we can come up with.   I think even satoshi is surprised people are still pushing this system so aggressively whilst no one is genuinely doing a 2.0...

I've cashed out completely.  I guess i just woke up to the idea that there is a better way to do this, and will wait for the better system to invest in this concept again.

Hey does anyone know if the Winklevoss Twins bought huge amounts of bitcoins before this big drop in price? I wonder how do they stand now.

LOL. What the heck?

the winklevoss twins are a pretteh cool guy who dont afraid of anything

They're inviting the process of legally defining Bitcoin. This is how I see it at this point. Not only are they inviting it, they're guiding it. This is why I see this is a potentially detrimental set of circumstances.

You are totally out of touch, I'm sorry.

If they actually own 1% of outstanding BTCs as rumored then they are idiots, with the kind of money they have they should be able to invest in the REAL value, currency exchanges, payment services and other forms of infrastructure that are always the real cash cows and which if diversified into any possible BTC successor will be immune to lose of value as coins fluctuate relative to the dollar or each other.   Investing in the coins themselves is a suckers bet and only profitable if you can manipulate the market which they can't do from that sized position.

They have the resources and all the legal means to get their project launched. Which will benefit the growing bitcoin community.

And there's a bet on it!

http://betsofbitco.in/item?id=1685

The Winklevoss Bitcoin Trust will be approved by the SEC within 6 months.

Better the way they are doing it then dumping them on an exchange somewhere though.