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Wednesday , 22 October 2014

Some of the best Bitcoin teachings provided by the Winklevoss twins

> at Cinema Gaumont Marignan on October 3, 2010 in Paris, France.

Tyler and Cameron Winklevoss. If you don’t know these names by now, you must have been living under a rock these last years. The twins, who are connected to the beginning of Facebook, are two of the most well-known modern entrepreneurs and Bitcoin investors in the world.

Besides being Olympic rowers, the Winklevii recently tried to fund their own Bitcoin exchange-traded fund (ETF). And let’s not forget about the fact that they own one percent of all the Bitcoins in the world. So who’s best to provide some wisdom pearls to all the Bitcoiners out there? Let’s remember some of the best sentences said by Cameron and Tyler about cryptocurrency.

Tyler Winklevoss

olympics_2008_mug_shot_tyler

There’s never been a broken or cracked Bitcoin, so they’re good for durability! I’ve lost many dollars in the laundry.

With Bitcoin there are no bail-ins like in Cyprus.

With storage of Bitcoin, there’s no cost or space requirement. I only have so much room in my mattress, so when it comes to storing more money, that becomes a problem.

We want to reach [with their ETF] anyone who can’t get exposure to Bitcoin — such as pension funds — or anyone who doesn’t want to go through the hassle of buying or physically storing it, such as mainstream retail investors. The best metaphor is to compare it to gold. How many people actually directly buy and hold gold bars? The gold ETCs [exchange-traded commodities] made it possible for investors to do that indirectly.

It’s easy to see why a lot of people are talking about Bitcoin as a digital gold, or a gold 2.0.

We’re not sure if he [Satoshi Nakamoto] does exist. He, she or they left voluminous body of work. He seemed frustrated with a system that crashed. You don’t need to know who he is, you don’t need to trust him to do business with him.

Bitcoin can be divided to the 1/100th million, so I can use Bitcoin to donate a penny to the Salvation Army.

[With Bitcoin] You can shoot money across the Internet free and instantly.

Cameron Winklevoss

Cameron_Winklevoss_at_the_2008_Beijing_Olympics_-_20080817

You can store your Bitcoin in your head with a 12-character password, it’s called the Brain Wallet!

The United States could regulate it and clamp down but doesn’t mean it couldn’t work everywhere else in the world. Maybe you couldn’t own it, but how could they prove it?

Argentina people really love Bitcoin because they like to hop over the fence and trade their pesos for U.S. dollars in Uruguay.

To shut down Bitcoin, you’d have to shut down the internet.

The next step for Bitcoin is becoming the currency of a country.