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Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

money.cnn.com

91–100 of 153 posts

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#91
post #73

Earlier quoted context omitted.

Do you have any data that prove me wrong?

Do you have any data that prove you right?

I think that believing people are not criminals is the less extra ordinary case, considering how few people are criminals in the first place.

There would have be something extraordinary about bitcoin or the way it was represented to society at large that attracted criminals.

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#92
post #73

Earlier quoted context omitted.

Do you have any data that prove me wrong?

Do you have any data that prove you right?

No, actually, I don't. I was just expressing an opinion backed up by my own evaluation of Bitcoin's strengths. User chc responded with such incredulity that I thought he might have some information I don't.

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#93
post #92

Earlier quoted context omitted.

Do you have any data that prove you right?

No, actually, I don't. I was just expressing an opinion backed up by my own evaluation of Bitcoin's strengths. User chc responded with such incredulity that I thought he might have some information I don't.

Ok. Just wondering. I actually have neither opinion nor data on the subject.

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#94
post #92

Earlier quoted context omitted.

Do you have any data that prove you right?

No, actually, I don't. I was just expressing an opinion backed up by my own evaluation of Bitcoin's strengths. User chc responded with such incredulity that I thought he might have some information I don't.

[deleted]

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#95
post #10

> [Novogratz] recalls that Buterin, ... showed up late, which struck him as shocking -- and a bit ballsy. He figured it was worth paying attention to Buterin. The lesson is to be impolite? I think I saw this in an episode of Silicon Valley.

He was late to a private party at some billionaire's home, right? Perhaps there's some other context, but that doesn't seem particularly rude or ballsy, unless this was like a 4 person "party".

A "dinner party" suggests the latter. Regardless, Novogratz was "shocked".

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#96
post #78
post #10

> [Novogratz] recalls that Buterin, ... showed up late, which struck him as shocking -- and a bit ballsy. He figured it was worth paying attention to Buterin. The lesson is to be impolite? I think I saw this in an episode of Silicon Valley.

You can tell Buterin is really smart (and focused) within a few minutes of talking to him about Ethereum. He showed up a few minutes late to an event I helped coordinate. Given his personality, I just assumed he had been off somewhere lost in his thoughts or finishing some critical task; it would never cross my mind that he took the event less seriously or meant to be impolite.

That's how I'd take it, but the author reports that Novogratz saw it differently.

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#97
post #79

The people in this thread hating on crypto are missing the point. Complaining that you can't go into CVS and buy something with Bitcoin right now is like complaining that all you can do with the Internet is send "electronic mail", which nobody reads, in 1990, or like complaining that Facebook is nothing but a glorified campus directory in 2006. The truth is, you can't buy things with Bitcoin at CVS because the techno…

You are right, its an investment, because you are investing in commodity. With its limitations and the insistence of being fully de-centralized (which is in reality is not, due to the consolidation of mining power and nodes etc) and its upper ceiling of quantity, it will never be an actual daily used currency. All the hacks and heists of millions in coins in conjunction with people who have no business in building exchange sites and such doing so, will not help this cause along at all. There is a reason banking and other finance markets are regulated and backed. People just tend to focus too much on the negatives around those entities.

Something else on the same technology is a different story though.

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#98
post #49

The actual quote is "Ten percent of my net worth is in this space ", said at the "Blockchain Disruption" forum [1]. A reasonable interpretation would be that 10% of his money is in blockchain companies . [1] http://www.hbscny.org/s/1738/cc/index2.aspx?sid=1738&gid=4&p...

He has a stake in Bitstamp (an exchange) and, from the sound of it, one or two other blockchain companies (he seems to have a close relationship with Joe Lubin, the founder of ConsenSys so they are very likely Ethereum-based startups). The rest is assumed to be invested in the currencies themselves. I was at the panel discussion and he seems wayyyy more excited about Ethereum - I wouldn't be surprised if he held more…

Then he is going to get rekt. As the DAO debacle demonstrated, the attack surface is utterly baroque, and governance is for shite. Buterin literally said "Turing completeness is a red herring". Smartest thing I ever heard him say.

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#99

Earlier quoted context omitted.

Especially when your and their opinions on taxable assets differ.

Oppressive governments are essentially the only good reason to use bitcoin, since the usual financial system is far more efficient at storing and transmitting money. He's either evading taxes or speculating.

My bank charges $40 + 2% forex spread for a wire transfer to Thailand. With Bitcoin I actually come out at a small profit. Bitcoin is way better at consumer level international transfers than banks.

Re: Billionaire Mike Novogratz says 10% of his money is in Bitcoin and Ether

#100
post #71
post #26

Earlier quoted context omitted.

In my neighborhood there are bars that accept Bitcoin. I've paid several dinners with my Android BTC wallet. Quite convenient in a city where you usually can only pay with cash...

Quick question - from someone who hasn't looked at bitcion since it was between 10c and $5 - since your transaction doesn't clear until the block propagates how they handle double spends?

Double spends are overwhelmingly a theoretical issue. Credit card fraud, on the other hand, is pandemic.
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