Winklevoss twins: Bitcoin will be bigger than Facebook #bitcoin #facebook - page 3.

jonald_fyookball

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Quote from: ijmolder93 on May 20, 2014, 12:45:37 PM

Quote from: jonald_fyookball on May 20, 2014, 12:38:48 PM

Quote from: ijmolder93 on May 20, 2014, 12:37:02 PM

Quote from: jonald_fyookball on May 20, 2014, 12:17:35 PM

There are few people with "decent amount of coins" compared to general population, so everyone with decent amount of coins CAN get rich.

While I would love for this to happen, the likely-hood that 1 bitcoin would reach something like $10,000 seems way too high. I know you can buy them in bits, but who would buy 1 bitcoin for $10,000?

thats like saying who would pay $600 to one just one share of apple?

Thats a pretty good example, but yes and no? Doesn't apple pay you dividends? Bitcoin doesn't pay dividends just for holding them, you can make a little if the price goes up, or lose a little if the price goes down. Same with the stock, you can lose a little if the price goes down or gain if it goes up, but in the middle you are earnings small amounts from dividends. Im really just curious I don't have vast knowledge of stocks.

Bitcoin doesn't pay dividends but that's irrelevant.

We're talking about price being "too high".

Since one can buy in any fraction, I don't see the high price
being an issue except for a psychological issue, and even
that can be overcome by quoting prices in millibits as
some exchanges already do.

ijmolder93

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Quote from: jonald_fyookball on May 20, 2014, 12:38:48 PM

Quote from: ijmolder93 on May 20, 2014, 12:37:02 PM

Quote from: jonald_fyookball on May 20, 2014, 12:17:35 PM

There are few people with "decent amount of coins" compared to general population, so everyone with decent amount of coins CAN get rich.

While I would love for this to happen, the likely-hood that 1 bitcoin would reach something like $10,000 seems way too high. I know you can buy them in bits, but who would buy 1 bitcoin for $10,000?

thats like saying who would pay $600 to one just one share of apple?

Thats a pretty good example, but yes and no? Doesn't apple pay you dividends? Bitcoin doesn't pay dividends just for holding them, you can make a little if the price goes up, or lose a little if the price goes down. Same with the stock, you can lose a little if the price goes down or gain if it goes up, but in the middle you are earnings small amounts from dividends. Im really just curious I don't have vast knowledge of stocks.

jonald_fyookball

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Quote from: ijmolder93 on May 20, 2014, 12:37:02 PM

Quote from: jonald_fyookball on May 20, 2014, 12:17:35 PM

There are few people with "decent amount of coins" compared to general population, so everyone with decent amount of coins CAN get rich.

While I would love for this to happen, the likely-hood that 1 bitcoin would reach something like $10,000 seems way too high. I know you can buy them in bits, but who would buy 1 bitcoin for $10,000?

thats like saying who would pay $600 to one just one share of apple?

ijmolder93

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Quote from: jonald_fyookball on May 20, 2014, 12:17:35 PM

There are few people with "decent amount of coins" compared to general population, so everyone with decent amount of coins CAN get rich.

While I would love for this to happen, the likely-hood that 1 bitcoin would reach something like $10,000 seems way too high. I know you can buy them in bits, but who would buy 1 bitcoin for $10,000?

jonald_fyookball

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Quote from: ijmolder93 on May 20, 2014, 12:15:51 PM

The reason it wont get that high is because everyone with a decent amount of coins would be rich. It could happen though if the value of the dollar heavily decreases, but then everything will become more expensive to compensate anyway.

There are few people with "decent amount of coins" compared to general population, so everyone with decent amount of coins CAN get rich.

ijmolder93

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The reason it wont get that high is because everyone with a decent amount of coins would be rich. It could happen though if the value of the dollar heavily decreases, but then everything will become more expensive to compensate anyway.

bryant.coleman

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Quote from: nkocevar on May 19, 2014, 10:38:47 AM

Just think of how rich these guys will be when the price of bitcoin skyrockets again. They own 1% of all bitcoins. Imagine a bitcoin market cap of 10 trillion USD. They would have 100 Billion dollars. And also think of the power they would have over the currency exchange price.

Hmm... they don't own 1% of the Bitcoins. They are having a total of BTC100,000 in their ETF. The Winkelwii don't own 100% of the ETF. Part of it is owned by others.

jonald_fyookball

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Quote from: nkocevar on May 19, 2014, 10:38:47 AM

Just think of how rich these guys will be when the price of bitcoin skyrockets again. They own 1% of all bitcoins. Imagine a bitcoin market cap of 10 trillion USD. They would have 100 Billion dollars. And also think of the power they would have over the currency exchange price.

Yeah but at 10 trillion market cap, we will all be rich too if we have any coins. 1 btc will be worth almost a million bucks.

greenlion

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Quote from: Divinespark on May 20, 2014, 09:46:13 AM

The twins are talking their book
Pure and simple
Which is not to say they are wrong

One man's "talking your book" is another man's "skin in the game".

Divinespark

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The twins are talking their book
Pure and simple
Which is not to say they are wrong

TaunSew

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Bitcoin isn't even that liquid yet, though. What could they do if they had billions in Bitcoin? Nothing really.

I thought it was well known that the twins were going to create some Bitcoin fund and sucker naive babyboomers to give them cash in hand. The twins walk away with $Fiat in hand and the holders get a currency which might die or be replaced by an alt within 40 years.

Ron~Popeil

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There has been a lot of positive news this week. I am thinking we could actually see another big rise this summer.

Phinnaeus Gage

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Bitcoin: An Idea Worth Spending

Quote from: Crindon on May 19, 2014, 12:18:22 PM

The Winklevoss really know what is going on. They are really after a form of revenge on Facebook or at least a revenge on that lost deal.

So that is why Facebook let KnC use that helicopter hanger next door at The Node Pole to build their mega-pharm having fully functional bitcoin miners hashing away.

Quote

"Everybody was shocked at the magnitude of loss, but when you look, the writing was really on the wall for a long time”. Tyler and other active investors avoided the whole mess altogether, he explains, because they stopped using Gox when it became too slow to withdraw money.

While everybody had problems withdrawing, the Windklevosses and other active deep-pocket investors bailed on Mt Coxs. That explains the warnings they and them investors espoused to us via all those forum posts and news releases. BRB, while I go hunt just ONE of said down. BTW, to conduct said search, which keywords should I use? Roll Eyes

greenlion

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Quote from: moriartybitcoin on May 19, 2014, 11:58:35 AM

I'm not sure I even understand why the Winklevoss's would compare Bitcoin to Facebook. The two share no similarities at all. Compare it to Paypal, or e-gold, or Liberty Reserve or even USD .. but not Facebook.

Network effect is the similarity.

greenlion

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Quote from: IIOII on May 19, 2014, 10:56:34 AM

Facebook use is already declining in many industrialized countries. FB does not have a convincing use case other than socializing and entertainment. It's not real innovation (social networking already existed a long time before) but a fad and will die quickly when it fails stay hip in the younger age groups (which is already happening).

Bitcoin is revolutionary technology with countless use cases in world economy.

So the odds are clearly in favor of Bitcoin.

This is true, Facebook is just the end of the evolutionary line of something that started with Makeoutclub.

Crindon

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The Winklevoss really know what is going on. They are really after a form of revenge on Facebook or at least a revenge on that lost deal.

moriartybitcoin

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I'm not sure I even understand why the Winklevoss's would compare Bitcoin to Facebook. The two share no similarities at all. Compare it to Paypal, or e-gold, or Liberty Reserve or even USD .. but not Facebook.

coindozer7

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Wiklevoss Twins are trying to revenge and slap back to Zuckerberg and Facebook since they lost the trial few years ago.
Bitcoin will become big but it will take some time to Bitcoin to get bigger than Facebook.
I can see the chance that to happen since they own 1% of the whole Bitcoin supply.

BADecker

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Quote from: nkocevar on May 19, 2014, 10:38:47 AM

Just think of how rich these guys will be when the price of bitcoin skyrockets again. They own 1% of all bitcoins. Imagine a bitcoin market cap of 10 trillion USD. They would have 100 Billion dollars. And also think of the power they would have over the currency exchange price.

Bitcoin isn't attached to anything. That is, you can't "redeem" bitcoins for anything like you could redeem dollars for gold or silver in the past.

There are methods for attaching bitcoins to specific material items so that they are redeemable by trading them for the actual item. Counterparty and Mastercoin are two methods that come extremely close to redeemable currencies, even though the idea of both of these is simply to use the blockchain, through the use of bitcoin, as the security method for their protocols.

The blockchain idea is a tremendous technology. When the combining of it with the idea of redeemable items comes about, there will no longer be any desire for the dollar, or for fiat currencies. Bitcoin, itself, may fall by the wayside... except for the use of its blockchain, that is.

IIOII

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Facebook use is already declining in many industrialized countries. FB does not have a convincing use case other than socializing and entertainment. It's not real innovation (social networking already existed a long time before) but a fad and will die quickly when it fails stay hip in the younger age groups (which is already happening).

Bitcoin is revolutionary technology with countless use cases in world economy.

So the odds are clearly in favor of Bitcoin.

Topic: Winklevoss twins: Bitcoin will be bigger than Facebook #bitcoin #facebook - page 3. (Read 4119 times)