How the Winklevoss Twins Found Vindication in a Bitcoin Fortune

Post by wyager » Tue, Dec 19, 2017, 11:55 PM UTC

sytelus wrote: post #74

TheBiv wrote: post #3

>> They said they might look at selling when the value of all the Bitcoin in circulation approaches the value of all gold in the world — some $7 trillion or $8 trillion compared with the $310 billion value of all Bitcoin on Tuesday — given that they think Bitcoin is set to replace gold as a rare commodity. But then Tyler Winklevoss questioned even that, pointing out the ways that he believes Bitcoin is better than go…

That's quite a balony. - Both are in fixed quantity so none is more rare than other. - Gold has practical use in industry which puts lower bound on its value. BTC has no lower bound. - Gold is exchangeable virtually in any country and any culture regardless of how technologically advanced that society is. - Thousands of years of history has proven that humans have almost natural lust for this shiny metal and it gets…

Post by asymmetric » Tue, Dec 19, 2017, 11:59 PM UTC

gomox wrote: post #58

mlevental wrote: post #49

can someone tell me something i've been wondering for a couple days now (considering taking the plunge and toying around with bitcoin): how fast can you execute trades on coinbase/gdax? obviously i'm asking if i could experiment with hft-esque strategies. is that possible or the clearing time too long? note: on a very small scale (like ~100$ total "aum")

There are already open source implementation of arbitrage/hft style trading bots on GitHub. This a market with a large population of software engineers. Exchanges have open APIs that you can use for trading. They execute pretty much instantly.

Post by 15155 » Wed, Dec 20, 2017, 12:03 AM UTC

akhatri_aus wrote: post #110

pingec wrote: post #95

Earlier quoted context omitted.

One disadvantage of gold I can think of is you cannot hide it in your head.

You can hide the keys to it in your head. You can store it in a passworded safe.

Post by jstanley » Wed, Dec 20, 2017, 12:07 AM UTC

stevenj wrote: post #80

I think the Winklevoss twins were rightly ridiculed for thinking they invented Facebook. However, they've made two prescient bets and deserve credit for those: (1) Getting Facebook stock instead of cash as part of their legal settlement; (2) Not only seeing bitcoin's future potential, but investing in it and sticking with it. While the final result on the second one is still TBD, they deserve credit for investing in…

Post by rubicon33 » Wed, Dec 20, 2017, 12:09 AM UTC

stevenj wrote: post #80

I think the Winklevoss twins were rightly ridiculed for thinking they invented Facebook. However, they've made two prescient bets and deserve credit for those: (1) Getting Facebook stock instead of cash as part of their legal settlement; (2) Not only seeing bitcoin's future potential, but investing in it and sticking with it. While the final result on the second one is still TBD, they deserve credit for investing in…