The Winklevii Strike Again to Corner the Bitcoin Market

Ok, so maybe not exactly corner the market but still; just when you thought the Bit coin saga couldn't get any weirder, our dear friends the Winklevii show up to make it even stranger. It isn't enough that they won a massive Facebook settlement and are attempting to be venture capitalists apparently. They claim to hold 1% (~$11million) of all bitcoins outstanding.

“People say it’s a Ponzi scheme, it’s a bubble,” said Cameron Winklevoss. “People really don’t want to take it seriously. At some point that narrative will shift to ‘virtual currencies are here to stay.’ We’re in the early days.”

“We have elected to put our money and faith in a mathematical framework that is free of politics and human error,” Tyler Winklevoss said.

Are they trying too hard, or is it just me? Is this really what the world has come too?

I mean come on guys, you couldn't find ANY better things to do with your money besides buying up bit coins? How hilarious will it be when someone hacks their accounts and they have to cry wolf again. Even better, apparently they took advantage of the recent sell off to buy more! In all fairness:

The Winklevosses expressed confidence that their bet is a good one. They bought in when Bitcoins cost less than $10 each, so it's probably one of their most high-margin investments. They believe there are at least a few other "early adopters" who have holdings as large as theirs, but it's hard to know for sure.

I wouldn't really be as down on these two if they didn't make it this easy or if they didn't take themselves so seriously. Problem is, they do. And they seem to be absolutely serious about this. Maybe this time they'll actually get in early on something.

 

Wow. You know its gotta be a fucking bubble if theyre getting in on it. Note that everyone is hot on that shit recently even though its trading in the mid 60s now. Bad time to get in. Maybe if they got in when it was in the 20s or so when it was being used mainly to launder drug money. But that may stand to make more questions about why they thought the market would explode.

“...all truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.” - Schopenhauer
 

Well this just shows that the Winklevii are gamblers. They are throwing money at an in-vogue product, based on total speculation, with no sign of an actual investment thesis, other than "virtual currencies are here to stay".

IMO, they are just throwing money around in the hopes that one idea sticks, makes them a 50x return, at which point they can say "told you so". All just an attempt to escape their current legacy which is a couple of athletic rich kids who made their worth suing someone who actual built something innovative.

 
milehigh:
Well this just shows that the Winklevii are gamblers. They are throwing money at an in-vogue product, based on total speculation, with no sign of an actual investment thesis, other than "virtual currencies are here to stay".

IMO, they are just throwing money around in the hopes that one idea sticks, makes them a 50x return, at which point they can say "told you so". All just an attempt to escape their current legacy which is a couple of athletic rich kids who made their worth suing someone who actual built something innovative.

To be fair, they are backing SumZero as well.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
milehigh:
All just an attempt to escape their current legacy which is a couple of athletic rich kids who made their worth suing someone who blatantly fucking ripped them off and took credit for building something innovative.
 

I think you're all a bunch of haters cause you missed on it and didn't / don't have the balls to get in. I am fresh grad student and have made 4.8 million dollars from it. Now I own a portfolio of various rental properties and will never ever work again in my life. Bitcoin changed my life. Should have put in more money when I got in, but anyway, it made me rich. My dream was to be an investment banker. Now I see it as a career for losers. By the way, I am sill very long on Bitcoin with coins I got for free. This is just the beginning.

 
advisers:
I think you're all a bunch of haters cause you missed on it and didn't / don't have the balls to get in. I am fresh grad student and have made 4.8 million dollars from it. Now I own a portfolio of various rental properties and will never ever work again in my life. Bitcoin changed my life. Should have put in more money when I got in, but anyway, it made me rich. My dream was to be an investment banker. Now I see it as a career for losers. By the way, I am sill very long on Bitcoin with coins I got for free. This is just the beginning.

Trolololololol

 
fryguy22:
advisers:
I think you're all a bunch of haters cause you missed on it and didn't / don't have the balls to get in. I am fresh grad student and have made 4.8 million dollars from it. Now I own a portfolio of various rental properties and will never ever work again in my life. Bitcoin changed my life. Should have put in more money when I got in, but anyway, it made me rich. My dream was to be an investment banker. Now I see it as a career for losers. By the way, I am sill very long on Bitcoin with coins I got for free. This is just the beginning.

Trolololololol

Money Never Sleeps? More like Money Never SUCKS amirite?!?!?!?
 
advisers:
I think you're all a bunch of haters cause you missed on it and didn't / don't have the balls to get in. I am fresh grad student and have made 4.8 million dollars from it. Now I own a portfolio of various rental properties and will never ever work again in my life. Bitcoin changed my life. Should have put in more money when I got in, but anyway, it made me rich. My dream was to be an investment banker. Now I see it as a career for losers. By the way, I am sill very long on Bitcoin with coins I got for free. This is just the beginning.

Do you have a newsletter I could subscribe to?

“...all truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.” - Schopenhauer
 

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