How the Winklevoss Twins Found Vindication in a Bitcoin Fortune

Post by pfisch » Tue, Dec 19, 2017, 11:16 PM UTC

WorldMaker wrote: post #24

felipeko wrote: post #15

Earlier quoted context omitted.

There's a difference about Gold's rarity and Bitcoin's. Gold is rare on its kind and rare on its abundance. It may be hard to mine more gold, but it's way harder to find another gold-like commodity. Bitcoin is only rare in the abundance sense. It is hard to mine more bitcoin, but it's pretty easy to find a (arguably better) substitute for what it does. I can agree with it being better (having more utility) than gold,…

Bitcoin definitely isn't rare in kind as we've already seen how relatively "easy" it is to fork. Could just fork Bitcoin infinitely as one way to deal with its supposed scarcity. Bitcoin isn't even rare in the abundance sense if you consider that how hard it is to mine new coins is merely a function of a mathematical curve that can be adjusted as a software change. Certainly any change to the mining difficulty and/or…

Post by oh_sigh » Tue, Dec 19, 2017, 11:17 PM UTC

tinkyada wrote: post #92

aiofgniaotnio wrote: post #65

A Bitcoin fortune on paper. It remains to be see if anyone will come out of this with real money. I'm sure they'll still be rich. But $1.65 billion rich? Probably not.

Plenty of people already have. Even if they come out with only 10% of the value of their holdings that is still a Huge return for what they initially put into it

Post by dcosson » Tue, Dec 19, 2017, 11:21 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 jzwinck » Tue, Dec 19, 2017, 11:23 PM UTC

dmoy wrote: post #83

pests wrote: post #69

Earlier quoted context omitted.

What? Fees are 0.1%. that's nothing compared to fees for regular stocks exchanges. I'm perfectly fine paying 10 cents for every $100 I trade.

What are the fees for regular stock exchanges?

Post by hyprCoin » Tue, Dec 19, 2017, 11:26 PM UTC

dahdum wrote: post #61

hyprCoin wrote: post #53

Earlier quoted context omitted.

I respectfully disagree with your conclusion. There isn't one company for internet searches and there isn't one provider for online video content. Why should there be just a handful of currencies? The natural state of a healthy ecosystem includes competition and variety.

75% of all searches are Google, 10% Baidu, and 8% Bing. Youtube represents the vast majority of online video content. Netflix the vast majority of on demand television. I only mean to say a handful will capture the vast majority of market share/cap.