If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
1–10 of 16 posts
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#2Dont we know this by now?
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#3This seems to be inaccurate. The twins could choose to simply sell the private key in a private transaction. Assuming they didn't create one wallet with 50,000 bitcoin, they could even sell portions. This gets them paid AND puts the onus for moving the coins to a new address on the new owner. They could exit in 5 minutes if another billionaire wanted their coins bad enough.
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#4This seems to be inaccurate. The twins could choose to simply sell the private key in a private transaction. Assuming they didn't create one wallet with 50,000 bitcoin, they could even sell portions. This gets them paid AND puts the onus for moving the coins to a new address on the new owner. They could exit in 5 minutes if another billionaire wanted their coins bad enough.
> simply sell the private key in a private transaction
Then why not sell it three times to three separate parties? And also keep a copy of the key and engage in some spending from the wallet themselves?
I'm not saying that these particular people would engage in such trickery. But I would be very wary of any proposition to sell me bitcoins in an out-of-band transaction of this kind.
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#5Winklevosses
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#6It's the same with Bill Gates but nobody's doubting he's rich.
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#7Winklevosses
Winklevi
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#8Winklevosses
Didn't you see "The Social Network?" Winklevi! ;-)
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#9It's the same with Bill Gates but nobody's doubting he's rich.
No this is nothing like Bill Gates. He owns less than 2% of the shares.
http://www.zdnet.com/article/bill-gates-stake-in-microsoft-i...
Re: If Winklevoss tried to cash out, they’d probably crash the Bitcoin market
#10"Typical trading volumes across the major exchanges are only about $2 billion globally"
Sounds like they could just sell ~$20M everyday, which would account for only 1% of the daily trading volume. After ~50 days, they would have cashed out $1B.