Film in de maak over Winklevoss-twins ‘Bitcoin miljardairs ...

CNBC grilling the Van Winklevoss twins as to whether or not Bitcoin was a bubble at $300

CNBC grilling the Van Winklevoss twins as to whether or not Bitcoin was a bubble at $300 submitted by BitcoinAllBot to BitcoinAll [link] [comments]

CNBC grilling the Van Winklevoss twins as to whether or not Bitcoin was a bubble at $300

submitted by BitcoinAllBot to BitcoinAllTV [link] [comments]

Hopium Time and My Bitcoin Bet

 
Take me directly to the official BITCOIN BET FOR THE VETS pledge page
 
Hello! Some of you may know me from the Daily Discussion thread here. I am an enthusiastic supporter of Bitcoin and also the author of Hopium Time (formerly Daily Hopium). Hopium Time is my effort to improve morale of the Bitcoin community during the dark times of current bear market we've been enduring. In my posts I make an effort to post good news and show parallels to previous Bitcoin bear markets to provide perspective when things look bleak.
 
I also like to make predictions. My core prediction is as follows:
 
The price of ONE BITCOIN will surpass $100,000 USD before May 1, 2021.
 
To illustrate my conviction on this prediction and to help my favorite charity, The Independence Fund, I have made it into a Bet. I’m calling it my Bitcoin Bet for the Vets (BBV). Please take a look at my post on this. I would really like this to grow into a nice donation to the charity which is very helpful to Veterans and their families. Hopefully some of you guys will pledge to match my Bet.
 
7/21/18 Revision to bet matching:
 
I will allow someone who pledges to match my bet to decide what percentage of my donation they will match (minimum of 5%). Please reply directly to the bet thread to make your honor bound irrevocable commitment to donate with me on May 1, 2021. I will include you on my public list of donors. Also, while I have pledged to donate enough to buy one track chair for the Vets even if I win the bet, you as a bet matcher, will be encouraged to do the same, but it is not required.
 
I will attempt to contact some of the leading Bitcoin bulls in the media (John McAfee, Tom Lee, Tim Draper etc.) and let you know in this thread if they plan to participate in my Bet or not. So you may want to check back on this thread from time to time for a status update.
 
Imagine the good we could do together if more people got involved. We can show the world how generous the crypto community can be. Good for the Vets and good for bitcoin. Everybody wins!
 
Follow me on my new Twitter @ThePhysicistBTC
 
I will maintain an archive of all my Hopium Time posts here, in case you are feeling a little down and need a quick reality check or pick-me-up. See below.
 
Hopium Time (Archive):
 
Bonus Feature #4: Learn Bitcoin/Blockchain for beginners series
Part 1 - Explain Bitcoin Like I’m Five
https://www.reddit.com/Bitcoin/comments/a0sghdaily_discussion_november_27_2018/eakmmpw
Part 2 - 4 TED Talks you should watch immediately if you want to understand bitcoin
https://www.reddit.com/Bitcoin/comments/a13uru/daily_discussion_november_28_2018/ean3m8j
Part 3 - Blockchain expert, Bettina Warburg, explains blockchain in five levels of difficulty
https://www.reddit.com/Bitcoin/comments/a1f2om/daily_discussion_november_29_2018/eapxc53
Part 4 - Bitcoin: What It Is And How It Works & Understand Bitcoin in 30 Minutes
https://www.reddit.com/Bitcoin/comments/a1q5qb/daily_discussion_november_30_2018/easfqbj
S02E26: Bitcoin in Venezuela
https://www.reddit.com/Bitcoin/comments/aa803q/daily_discussion_december_28_2018/ecrmdv1
Bonus Feature #5 - Wall Street Could Change The Game For Bitcoin Again
https://www.reddit.com/Bitcoin/comments/a8iryx/daily_discussion_december_22_2018/eccj73s
S02E25: The Road To Recovery - Part 2
https://www.reddit.com/Bitcoin/comments/a1f2om/daily_discussion_november_29_2018/ear7pc5
S02E24: The Untrue Hodler
https://www.reddit.com/Bitcoin/comments/9wxrh9/daily_discussion_november_14_2018/e9ongao
S02E23: VanEck-SolidX ETF (backed by physical bitcoin) has a good chance of SEC approval by March 2019
https://www.reddit.com/Bitcoin/comments/9ts5lx/daily_discussion_november_03_2018/e90bj3d
S02E22: Bakkt is really coming this December
https://www.reddit.com/Bitcoin/comments/9qbco3/daily_discussion_october_22_2018/e89qfo4
S02E21: The Flattening
https://www.reddit.com/Bitcoin/comments/9lkm1s/daily_discussion_october_05_2018/e77wzl3
Bonus Feature #3: Tim Draper Still Bullish!
https://www.reddit.com/Bitcoin/comments/9fqez2/daily_discussion_september_14_2018/e603fou
Bonus Feature #2: Overstock.com Will Sell Bitcoin in Q1 2019.
https://www.reddit.com/Bitcoin/comments/9fqez2/daily_discussion_september_14_2018/e5zujva
S02E20: The One, the Only, The Legend: u/americanpegasus
https://www.reddit.com/Bitcoin/comments/9f61w6/daily_discussion_september_12_2018/e5vvcxi
S02E19: The Foundation for Institutional Investment is Being Built Right Now
https://www.reddit.com/Bitcoin/comments/9evuxt/daily_discussion_september_11_2018/e5spu3t
S02E18: Universities are offering classes in crypto
https://www.reddit.com/Bitcoin/comments/9b7l22/daily_discussion_august_29_2018/e52jzn7
S02E17: Brexit Nightmare - Could be Bullish for Bitcoin
https://www.reddit.com/Bitcoin/comments/99vtlo/daily_discussion_august_24_2018/e4rlfwe
S02E16: Road to Recovery - Part 1
https://www.reddit.com/Bitcoin/comments/98ad0e/daily_discussion_august_18_2018/e4f8qim
S02E15: Conflicted Feelings and “The Bitcoin Face”
https://www.reddit.com/Bitcoin/comments/96wqvd/daily_discussion_august_13_2018/e458tdm
S02E14: The Perils of Human Emotions
https://www.reddit.com/Bitcoin/comments/965anc/daily_discussion_august_10_2018/e3z0z9e
S02E13: The Bitcoin Whisperer Has Spoken - Just Believe
https://www.reddit.com/Bitcoin/comments/95us72/daily_discussion_august_09_2018/e3x7i6o
S02E12: Don’t be scurred ;-)
https://www.reddit.com/Bitcoin/comments/959zjn/daily_discussion_august_07_2018/e3sn83a
S02E11: The Pain Will Come to an End
https://www.reddit.com/Bitcoin/comments/94qljj/daily_discussion_august_05_2018/e3nxab2
S02E10: Bakkt aims to allow you pay for your coffee at Starbucks with bitcoin (and more)
https://www.reddit.com/Bitcoin/comments/947zr6/daily_discussion_august_03_2018/e3jzxmb
S02E09: JUST HODL
https://www.reddit.com/Bitcoin/comments/93nbn7/daily_discussion_august_01_2018/e3g1b47
S02E08: Glenn Beck and Teeka Tiwari discuss whether the Bitcoin Bear Market is finally over
https://www.reddit.com/Bitcoin/comments/932hei/daily_discussion_july_30_2018/e3a9umr
S02E07: Mati Greenspan, Senior Analyst at eTore speaks
https://www.reddit.com/Bitcoin/comments/92tj24/daily_discussion_july_29_2018/e3g4jui
Bonus Feature #1: Possibility of CBOE ETF being approved by March 2019 or sooner
https://www.reddit.com/Bitcoin/comments/92awvq/daily_discussion_july_27_2018/e366316 - See this article also
S02E06: Bitcoin Comeback Could be for Real https://www.reddit.com/Bitcoin/comments/91fqkdaily_discussion_july_24_2018/e2y2xqn
S02E05: Different Take on Bitcoin Bubbles
https://www.reddit.com/Bitcoin/comments/90eemn/daily_discussion_july_20_2018/e2qzxcu
S02E04: Has Bitcoin bottomed?
https://www.reddit.com/Bitcoin/comments/9047lk/comment/e2ozyqc
S02E03: The Bet
https://www.reddit.com/Bitcoin/comments/8z9cx2/daily_discussion_july_16_2018/e2iiems
S02E02: ETFs
https://www.reddit.com/Bitcoin/comments/8ys014/daily_discussion_july_14_2018/e2ekotq
S02E01: Bitcoin Regret
https://www.reddit.com/Bitcoin/comments/8yie5daily_discussion_july_13_2018/e2cqeej
S01E34: I Accidentally Bought 11 BTC
https://www.reddit.com/Bitcoin/comments/8xn6s0/daily_discussion_july_10_2018/e24ee6h
S01E33: Crystal Balls
https://www.reddit.com/Bitcoin/comments/8x9um1/daily_discussion_july_09_2018/e22thya
S01E32: The Unthinkable
https://www.reddit.com/Bitcoin/comments/8x097x/daily_discussion_july_08_2018/e20h64v
S01E31: The Winklevoss Twins are Keepin Calm and HODLing On
https://www.reddit.com/Bitcoin/comments/8wrwpx/daily_discussion_july_07_2018/e1yjstw
S01E30: The Power of the Lightning Network
https://www.reddit.com/Bitcoin/comments/8wiku7/daily_discussion_july_06_2018/e1wi9am
S01E29: Will you make the right decision?
https://www.reddit.com/Bitcoin/comments/8w8zni/daily_discussion_july_05_2018/e1udryq
S01E28: Lets get it over 7k for some fireworks.
https://www.reddit.com/Bitcoin/comments/8w07u9/daily_discussion_july_04_2018/e1sggs5
S01E27: Major Bitcoin Crashes
https://www.reddit.com/Bitcoin/comments/8vqpjy/daily_discussion_july_03_2018/e1qumdi
S01E26: Bitcoin Bubbles
https://www.reddit.com/Bitcoin/comments/8vh6vf/daily_discussion_july_02_2018/e1ngux2
S01E25: What? Bitcoin died?
https://www.reddit.com/Bitcoin/comments/8v8qf8/daily_discussion_july_01_2018/e1m238s
S01E24: Parallels in time
https://www.reddit.com/Bitcoin/comments/8v0n1c/daily_discussion_june_30_2018/e1k33ur
S01E23: I have no choice but to sell off 8000 BTC
https://www.reddit.com/Bitcoin/comments/8urof2/daily_discussion_june_29_2018/e1hrk55
S01E22: CNBC Africa - Crypto Trader
https://www.reddit.com/Bitcoin/comments/8uhkxw/daily_discussion_june_28_2018/e1fm41w
S01E21: The Tide is Turning?
https://www.reddit.com/Bitcoin/comments/8u82mv/daily_discussion_june_27_2018/e1dfqqx
S01E20: The Panic Sellers Edition
https://www.reddit.com/Bitcoin/comments/8tyijb/daily_discussion_june_26_2018/e1bni1k
S01E19: Crash Troll
https://www.reddit.com/Bitcoin/comments/8tp0mc/daily_discussion_june_25_2018/e198ujy
S01E18: No hope for bitcoin?
https://www.reddit.com/Bitcoin/comments/8tgn5v/daily_discussion_june_24_2018/e17n6dt
S01E17: Optimism for 2nd half 2018
https://www.reddit.com/Bitcoin/comments/8t8qlq/daily_discussion_june_23_2018/e16g1lg
S01E16: People who bought at the ath of 266 then sold at 50
https://www.reddit.com/Bitcoin/comments/8szuvc/daily_discussion_june_22_2018/e155pr3
S01E15: The Truth
https://www.reddit.com/Bitcoin/comments/8sqc99/daily_discussion_june_21_2018/e12y46x
S01E14: Millionaire interest
https://www.reddit.com/Bitcoin/comments/8sgt75/daily_discussion_june_20_2018/e10q4d0
S01E13: Pep Talk time
https://www.reddit.com/Bitcoin/comments/8s7dvd/daily_discussion_june_19_2018/e0ypdrd
S01E12: HODLERS are people too
https://www.reddit.com/Bitcoin/comments/8s7dvd/daily_discussion_june_19_2018/e0ykk2v
S01E11: Square Cash App
https://www.reddit.com/Bitcoin/comments/8ry1gb/daily_discussion_june_18_2018/e0wdlxi
S01E10: Predictions, predictions
https://www.reddit.com/Bitcoin/comments/8rpvtt/daily_discussion_june_17_2018/e0tte6t
S01E09: Too expensive?
https://www.reddit.com/Bitcoin/comments/8ri7zp/daily_discussion_june_16_2018/e0rvb0z
S01E08: Aarrrrrrnoooooooold
https://www.reddit.com/Bitcoin/comments/8r9if9/daily_discussion_june_15_2018/e0qqezr
S01E07: Sinking Ship
https://www.reddit.com/Bitcoin/comments/8r9if9/daily_discussion_june_15_2018/e0pn5mc
S01E06: Delusional
https://www.reddit.com/Bitcoin/comments/8r0clm/daily_discussion_june_14_2018/e0otg3x
S01E05: Bitcoin Immortality and Log Chart
https://www.reddit.com/Bitcoin/comments/8qqy0i/daily_discussion_june_13_2018/e0mofn0
S01E04: Hal Finney
https://www.reddit.com/Bitcoin/comments/8qhgbl/daily_discussion_june_12_2018/e0kn24t
S01E03: You can make a difference.
https://www.reddit.com/Bitcoin/comments/8q822daily_discussion_june_11_2018/e0igv6m
S01E02: Being a Fudster - an Ageless Past-time
https://www.reddit.com/Bitcoin/comments/8pznhe/daily_discussion_june_10_2018/e0gngdz
S01E01: Are you ready for the drops?
https://www.reddit.com/Bitcoin/comments/8pznhe/daily_discussion_june_10_2018/e0fp7m6
The Pilot: 770 bitcoins
https://www.reddit.com/Bitcoin/comments/8k2sl0/daily_discussion_may_17_2018/dz4iawv
submitted by The-Physicist to Bitcoin [link] [comments]

Keep an eye out for August 10th! That'll be a big day for Bitcoin

TLDR; CBOE may have a good chance of getting the BTC ETF approved by the SEC. The SEC has until August 10th 16th to approve or Deny the application. If approved, Q1 of 2019 is when the ETF is expected to launch.
As most of you probably know the CBOE has filed to list BTC as an ETF with the SEC. What this means is that BTC will end up accessible to traditional investors and can be purchased on traditional investment platforms. It is very likely, in my opinion, that they will get the a-okay from the SEC to list BTC as an ETF.
Why do I say this? Well let's look at the history.
- In 2014 the Winklevoss Twins tried to file a BTC ETF with the SEC
- In 2016 we had SolidX that tried to file a BTC ETF with the SEC
- In 2017 we had the NYSE file for a BTC ETF with the SEC
- Also in 2017 we had the CBOE launch BTC futures
- Lastly, in June of this year we had the CBOE file for a BTC ETF with the SEC where the ETF is "being offered through the VanEck SolidX Bitcoin Trust - a joint venture between financial firms VanEck and SolidX"
So why haven't any of these ETF's seen the light of day? The answer can be explained by this refreshing piece of journalism "In March 2017, the US SEC claimed that the Winklevoss ETF proposal was rejected because Bitcoin, as a digital asset, was not regulated properly overseas without proper regulatory frameworks in place. The agency also noted that there lacks insurance around cryptocurrencies.".
So regulatory frameworks and insurance have been the two biggest obstacles in the way of the SEC approving the ETF. Luckily for us, cryptocurrency is a global affair and we're noticing more Anti-Money Laundering (AML) policies and standards of security. Additionally, overseas markets like Japan and South Korea arguably have better regulatory frameworks than the US, with Japan leading the G20 in creating an international standard for crypto regulation.". Unfortunately for the SEC, crypto is global and I have no doub that they are fully aware that slacking on crypto regulation and acceptance = losing out on billions of dollars - but more importantly losing global economic leverage. I have no doubt in my mind all countries which are late to the crypto game will find themselves becoming a 2nd world country, in a relative sense.
Anyhow, back to the CBOE and SEC. The CBOE is a company with a market cap of $11b. If, obviously rich and well connected, people of an $11b company, which has existed since 1973, decides that spending the time and energy to investigate, create, modify, and go through all legal and regulatory frameworks to file a BTC ETF with the SEC - where rejections have been hot since 2014 - They know what they're in for. This isn't some team of plebs working on some sort of maybe. This is a team of who knows how many professionals, for sure getting paid big bucks (and maybe even having their jobs on the line), cumulatively deciding that even though the SEC has rejected BTC ETF's in the past, their application may have a shot.
Why is the CBOE application different? Well, aside from the increased regulatory processes crypto has gone through, on a global dimension ; the CBOE has stated that their BTC ETF will be INSURED. That right there is a big deal! This means if the CBOE gets hacked, it isn't some Mt.Gox or bitgrail situation where people are out millions... That simply won't matter to ETF investors. I would also argue that running BTC futures without much of a hitch, will make things easier for the SEC to pass this CBOE BTC ETF (but that's just my opinion).
If/when this happens the ETF is expected to go live in the first quarter of 2019. I don't expect much to happen until then (at least in the Western Crypto space in which I am most familiar with). Lastly, the whole reason for this post is that August 10th of this year is the rumored date for the SEC to approve or deny the application August 16th is the date rumored for the SEC to make their decision , so that'll be a big day for BTC. The SEC states that they make a decision 45 days after a request.
What I am very curious about is that if the crypto market keeps moving upwards towards that date, the challenge will be trying to figure out if its us retail investors buying the rumors or if well connected individuals are buying the future news.
**If I am talking bs or made mistakes in this post please call me out on it. That's how we all learn. Thanks! **
Edit : I am wrong about August 10th. The date to look out for is August 16, according to this post
submitted by Tkldsphincter to CryptoCurrency [link] [comments]

The Earningsglobal Example

The Earningsglobal Example


https://preview.redd.it/ifxtmwlh2tv21.jpg?width=1833&format=pjpg&auto=webp&s=a1b536fb55d7f2e279f9318a129a1d408f9a2bef
I love the reality shown on cryptocurrency industry reports . My view is that many blogs are out there with a niche that can enlighten readers.
"A Bitcoin ETF can be likened to a normal ETF. The difference here is that the

underlying asset is the Bitcoin. With the Bitcoin ETF, you do not have to go

through the hassle of buying Bitcoin, storing it and securing it. All you need to

do is to purchase a Bitcoin ETF because it will be as though you are purchasing

Bitcoin itself. This is a lot easier than purchasing the coin.''

Again, it says, "However, as good as it sounds, it can only be put into use

when it becomes approved by the Securities and Exchange Commission, SEC.

In response to this, there are many exchanges which are now looking to be

listed or launched on USA’s financial instrument (the most anticipated of them

is the CBOE). Indeed, they are really waiting and hoping to be accepted on the

financial market. Some of these exchanges include the following: Winklevoss

twins Bitcoin ETF, CBOE which is backed by VanEck and SolidX Bitcoin ETF,

Coinbase, Direxion Bitcoin ETF, and so on''.


I recommend this website for the depth of research that can make you a better crypto trader.
submitted by oga120 to u/oga120 [link] [comments]

Bitcoin ETF

Over the past few months, there has been plenty of talk around the status of submitted Bitcoin ETF’s. For those that are unaware, an ETF stands for exchange traded fund and is a way to trade an asset or security on a regulated exchange.
At press time, there are currently two submitted ETF proposals. One is the Cboe VanEck proposal that has been around for months now. The other was published last week by Bitwise for the New York Stock Exchange. As of February 20th, the SEC will have 45 days to make a ruling on the pending ETFs.
In the past, we’ve seen several other attempts in setting up Bitcoin ETF’s fail. Most notably was the Winklevoss Twins attempt that was rejected in 2017 and again in 2018.
Matt Hougan, who’s involved with the Bitwise proposal went on to say to Coindesk, “A year ago there was maybe one qualified crypto custodian… and now there are half a dozen, and that number will go up from here.”
Why do Bitcoin ETF’s keep getting rejected?
There are a few reasons why Bitcoin ETF’s repeatedly get rejected. The largest one is the fear that Bitcoin markets are manipulated heavily. The SEC has even commented on Tether (USDT), and how it appears to prop the Bitcoin price up. Another reason Bitcoin ETF’s have been rejected is due to it being unclear where the official Bitcoin price at any given time is determined.
The VanEck proposal is attempting to form this from price action on large over the counter (OTC) trades, while Bitwise plans to use the average of high volume exchanges. Depending on the SEC’s preferences, it’s possible one gets rejected while the other gets accepted.
Why do Bitcoin ETF’s matter?
In Bitcoin’s case, an ETF would allow users to own Bitcoin without having to deal with storage. Too often we see uneducated cryptocurrency holders lose their funds on centralized exchanges from hacks and other careless mistakes. By simplifying the process, the door is opened for thousands of new cryptocurrency holders.
Conclusion
Regardless of which cryptocurrencies you support, the introduction of a Bitcoin ETF would bring an enormous amount of mainstream adoption. The SEC has until April 5th to decide, so keep an eye out for the ruling.
Do you think a Bitcoin ETF will finally be accepted? Let us know in the comments below.
submitted by Cedexofficial to u/Cedexofficial [link] [comments]

Hopium Time and my Bitcoin Bet for the Vets (to support The Independence Fund charity for our wounded heroes).

 
Take me directly to the official BITCOIN BET FOR THE VETS pledge page - (Bet thread is Now Archived - scroll down - you can make your pledge in this this thread instead).
 
Hello! Some of you may know me from the Daily Discussion thread here. I am an enthusiastic supporter of Bitcoin and also the author of Hopium Time (formerly Daily Hopium). Hopium Time is my effort to improve morale of the Bitcoin community during the dark times of current bear market we've been enduring. In my posts I make an effort to post good news and show parallels to previous Bitcoin bear markets to provide perspective when things look bleak (Edit 5/11/19: Not looking bleak anymore. Time for a bull market! ).
 
I also like to make predictions. My core prediction is as follows:
 
The price of ONE BITCOIN will surpass $100,000 USD before May 1, 2021.
 
To illustrate my conviction on this prediction and to help my favorite charity, The Independence Fund, on July 16, 2018, I made it into a Bet. I call it my Bitcoin Bet for the Vets (BBV). Please take a look at my post (Now archived) on this. I would really like this to grow into a nice donation to the charity which is very helpful to Veterans and their families. Hopefully some of you guys will pledge to match my Bet. You can respond with your official bet pledge right in this thread (since my old thread has been archived).
 
7/21/18 Revision to bet matching:
 
I will allow someone who pledges to match my bet to decide what percentage of my donation they will match (minimum of 5%). Please reply directly to the bet thread to make your honor bound irrevocable commitment to donate with me on May 1, 2021. I will include you on my public list of donors. Also, while I have pledged to donate enough to buy one track chair for the Vets even if I win the bet, you as a bet matcher, will be encouraged to do the same, but it is not required.
 
Unfortunately, so far my efforts to contact some of the leading Bitcoin bulls in the media (John McAfee, Tom Lee, Tim Draper etc.) have mostly failed. Only Tom Lee responded that “If this is for the Vets, I’m in”.
 
Imagine the good we could do together if more people got involved. We can show the world how generous the crypto community can be. Good for the Vets and good for bitcoin. Everybody wins! Thanks for reading this.
 
Follow me on my new Twitter @ThePhysicistBTC
 
I will maintain an archive of all my Hopium Time posts here, in case you are feeling a little down and need a quick reality check or pick-me-up. See below.
 
Hopium Time (Archive):
   
S03E06: BITCOIN HAS SURPASSED $12,000!!! BULL MARKET IS CONFIRMED! https://www.reddit.com/Bitcoin/comments/c547um/daily_discussion_june_25_2019/es2e8ds?utm_source=share&utm_medium=web2x
S03E05: Analyst: Facebook’s Libra Could Introduce Billions of People to Bitcoin; Will It Help Fuel the Next Rally? https://www.reddit.com/Bitcoin/comments/c1z0kt/daily_discussion_june_18_2019/eriiofy?utm_source=share&utm_medium=web2x
S03E04: Pay your AT&T bill with bitcoin https://www.reddit.com/Bitcoin/comments/brzscj/daily_discussion_may_23_2019/eokb2rk?utm_source=share&utm_medium=web2x
S03E03: Bitcoin Comes to Whole Foods, Major Retailers in Coup for Digital Currency https://www.reddit.com/Bitcoin/comments/bo05s6/daily_discussion_may_13_2019/ene364f?utm_source=share&utm_medium=web2x
S03E02: The Bitcoin is back over $7,000! Edition https://www.reddit.com/Bitcoin/comments/bn99py/daily_discussion_may_11_2019/en64kme?utm_source=share&utm_medium=web2x
S03E01: Road to Recovery - Part 3 https://www.reddit.com/Bitcoin/comments/bjrxzi/daily_discussion_may_02_2019/emd80um?utm_source=share&utm_medium=web2x
Bonus Feature #6 - Tim Draper Predicts Crypto Will Rule, Only Criminals Will Use Cash in Five Years https://www.reddit.com/Bitcoin/comments/asl92s/daily_discussion_february_20_2019/egxl7qz?utm_source=share&utm_medium=web2x
S02E29: SEC Commissioner Says Bitcoin ETF Will Be Approved ‘Eventually’ https://www.reddit.com/Bitcoin/comments/aodzzp/daily_discussion_february_08_2019/eg225eo
S02E28: Buy Bitcoin at the Grocery Store - Coinstar rollout coming soon https://www.reddit.com/Bitcoin/comments/ah7vp2/daily_discussion_january_18_2019/eeea84o
S02E27: Bitwise Bitcoin ETF Trust
https://www.reddit.com/Bitcoin/comments/aeglci/daily_discussion_january_10_2019/edqvhl4
S02E26: Bitcoin in Venezuela
https://www.reddit.com/Bitcoin/comments/aa803q/daily_discussion_december_28_2018/ecrmdv1
Bonus Feature #5 - Wall Street Could Change The Game For Bitcoin Again
https://www.reddit.com/Bitcoin/comments/a8iryx/daily_discussion_december_22_2018/eccj73s
Bonus Feature #4: Learn Bitcoin/Blockchain for beginners series
Part 1 - Explain Bitcoin Like I’m Five
https://www.reddit.com/Bitcoin/comments/a0sghdaily_discussion_november_27_2018/eakmmpw
Part 2 - 4 TED Talks you should watch immediately if you want to understand bitcoin
https://www.reddit.com/Bitcoin/comments/a13uru/daily_discussion_november_28_2018/ean3m8j
Part 3 - Blockchain expert, Bettina Warburg, explains blockchain in five levels of difficulty
https://www.reddit.com/Bitcoin/comments/a1f2om/daily_discussion_november_29_2018/eapxc53
Part 4 - Bitcoin: What It Is And How It Works
https://www.reddit.com/Bitcoin/comments/a1q5qb/comment/edu5bn6/
S02E25: The Road To Recovery - Part 2
https://www.reddit.com/Bitcoin/comments/a1f2om/daily_discussion_november_29_2018/ear7pc5
S02E24: The Untrue Hodler
https://www.reddit.com/Bitcoin/comments/9wxrh9/daily_discussion_november_14_2018/e9ongao
S02E23: VanEck-SolidX ETF (backed by physical bitcoin) has a good chance of SEC approval by March 2019
https://www.reddit.com/Bitcoin/comments/9ts5lx/daily_discussion_november_03_2018/e90bj3d
S02E22: Bakkt is really coming this December [Update: This has been delayed until sometime in 1st Q 2019 due to government shutdown]
https://www.reddit.com/Bitcoin/comments/9qbco3/daily_discussion_october_22_2018/e89qfo4
S02E21: The Flattening
https://www.reddit.com/Bitcoin/comments/9lkm1s/daily_discussion_october_05_2018/e77wzl3
Bonus Feature #3: Tim Draper Still Bullish!
https://www.reddit.com/Bitcoin/comments/9fqez2/daily_discussion_september_14_2018/e603fou
Bonus Feature #2: Overstock.com Will Sell Bitcoin in Q1 2019.
https://www.reddit.com/Bitcoin/comments/9fqez2/daily_discussion_september_14_2018/e5zujva
S02E20: The One, the Only, The Legend: u/americanpegasus
https://www.reddit.com/Bitcoin/comments/9f61w6/daily_discussion_september_12_2018/e5vvcxi
S02E19: The Foundation for Institutional Investment is Being Built Right Now
https://www.reddit.com/Bitcoin/comments/9evuxt/daily_discussion_september_11_2018/e5spu3t
S02E18: Universities are offering classes in crypto
https://www.reddit.com/Bitcoin/comments/9b7l22/daily_discussion_august_29_2018/e52jzn7
S02E17: Brexit Nightmare - Could be Bullish for Bitcoin
https://www.reddit.com/Bitcoin/comments/99vtlo/daily_discussion_august_24_2018/e4rlfwe
S02E16: Road to Recovery - Part 1
https://www.reddit.com/Bitcoin/comments/98ad0e/daily_discussion_august_18_2018/e4f8qim
S02E15: Conflicted Feelings and “The Bitcoin Face”
https://www.reddit.com/Bitcoin/comments/96wqvd/daily_discussion_august_13_2018/e458tdm
S02E14: The Perils of Human Emotions
https://www.reddit.com/Bitcoin/comments/965anc/daily_discussion_august_10_2018/e3z0z9e
S02E13: The Bitcoin Whisperer Has Spoken - Just Believe
https://www.reddit.com/Bitcoin/comments/95us72/daily_discussion_august_09_2018/e3x7i6o
S02E12: Don’t be scurred ;-)
https://www.reddit.com/Bitcoin/comments/959zjn/daily_discussion_august_07_2018/e3sn83a
S02E11: The Pain Will Come to an End
https://www.reddit.com/Bitcoin/comments/94qljj/daily_discussion_august_05_2018/e3nxab2
S02E10: Bakkt aims to allow you pay for your coffee at Starbucks with bitcoin (and more)
https://www.reddit.com/Bitcoin/comments/947zr6/daily_discussion_august_03_2018/e3jzxmb
S02E09: JUST HODL
https://www.reddit.com/Bitcoin/comments/93nbn7/daily_discussion_august_01_2018/e3g1b47
S02E08: Glenn Beck and Teeka Tiwari discuss whether the Bitcoin Bear Market is finally over
https://www.reddit.com/Bitcoin/comments/932hei/daily_discussion_july_30_2018/e3a9umr
S02E07: Mati Greenspan, Senior Analyst at eTore speaks
https://www.reddit.com/Bitcoin/comments/92tj24/daily_discussion_july_29_2018/e3g4jui
Bonus Feature #1: Possibility of CBOE ETF being approved by March 2019 or sooner
https://www.reddit.com/Bitcoin/comments/92awvq/daily_discussion_july_27_2018/e366316 - See this article also
S02E06: Bitcoin Comeback Could be for Real https://www.reddit.com/Bitcoin/comments/91fqkdaily_discussion_july_24_2018/e2y2xqn
S02E05: Different Take on Bitcoin Bubbles
https://www.reddit.com/Bitcoin/comments/90eemn/daily_discussion_july_20_2018/e2qzxcu
S02E04: Has Bitcoin bottomed?
https://www.reddit.com/Bitcoin/comments/9047lk/comment/e2ozyqc
S02E03: The Bet
https://www.reddit.com/Bitcoin/comments/8z9cx2/daily_discussion_july_16_2018/e2iiems
S02E02: ETFs
https://www.reddit.com/Bitcoin/comments/8ys014/daily_discussion_july_14_2018/e2ekotq
S02E01: Bitcoin Regret
https://www.reddit.com/Bitcoin/comments/8yie5daily_discussion_july_13_2018/e2cqeej
S01E34: I Accidentally Bought 11 BTC
https://www.reddit.com/Bitcoin/comments/8xn6s0/daily_discussion_july_10_2018/e24ee6h
S01E33: Crystal Balls
https://www.reddit.com/Bitcoin/comments/8x9um1/daily_discussion_july_09_2018/e22thya
S01E32: The Unthinkable
https://www.reddit.com/Bitcoin/comments/8x097x/daily_discussion_july_08_2018/e20h64v
S01E31: The Winklevoss Twins are Keepin Calm and HODLing On
https://www.reddit.com/Bitcoin/comments/8wrwpx/daily_discussion_july_07_2018/e1yjstw
S01E30: The Power of the Lightning Network
https://www.reddit.com/Bitcoin/comments/8wiku7/daily_discussion_july_06_2018/e1wi9am
S01E29: Will you make the right decision?
https://www.reddit.com/Bitcoin/comments/8w8zni/daily_discussion_july_05_2018/e1udryq
S01E28: Lets get it over 7k for some fireworks.
https://www.reddit.com/Bitcoin/comments/8w07u9/daily_discussion_july_04_2018/e1sggs5
S01E27: Major Bitcoin Crashes
https://www.reddit.com/Bitcoin/comments/8vqpjy/daily_discussion_july_03_2018/e1qumdi
S01E26: Bitcoin Bubbles
https://www.reddit.com/Bitcoin/comments/8vh6vf/daily_discussion_july_02_2018/e1ngux2
S01E25: What? Bitcoin died?
https://www.reddit.com/Bitcoin/comments/8v8qf8/daily_discussion_july_01_2018/e1m238s
S01E24: Parallels in time
https://www.reddit.com/Bitcoin/comments/8v0n1c/daily_discussion_june_30_2018/e1k33ur
S01E23: I have no choice but to sell off 8000 BTC
https://www.reddit.com/Bitcoin/comments/8urof2/daily_discussion_june_29_2018/e1hrk55
S01E22: CNBC Africa - Crypto Trader
https://www.reddit.com/Bitcoin/comments/8uhkxw/daily_discussion_june_28_2018/e1fm41w
S01E21: The Tide is Turning?
https://www.reddit.com/Bitcoin/comments/8u82mv/daily_discussion_june_27_2018/e1dfqqx
S01E20: The Panic Sellers Edition
https://www.reddit.com/Bitcoin/comments/8tyijb/daily_discussion_june_26_2018/e1bni1k
S01E19: Crash Troll
https://www.reddit.com/Bitcoin/comments/8tp0mc/daily_discussion_june_25_2018/e198ujy
S01E18: No hope for bitcoin?
https://www.reddit.com/Bitcoin/comments/8tgn5v/daily_discussion_june_24_2018/e17n6dt
S01E17: Optimism for 2nd half 2018
https://www.reddit.com/Bitcoin/comments/8t8qlq/daily_discussion_june_23_2018/e16g1lg
S01E16: People who bought at the ath of 266 then sold at 50
https://www.reddit.com/Bitcoin/comments/8szuvc/daily_discussion_june_22_2018/e155pr3
S01E15: The Truth
https://www.reddit.com/Bitcoin/comments/8sqc99/daily_discussion_june_21_2018/e12y46x
S01E14: Millionaire interest
https://www.reddit.com/Bitcoin/comments/8sgt75/daily_discussion_june_20_2018/e10q4d0
S01E13: Pep Talk time
https://www.reddit.com/Bitcoin/comments/8s7dvd/daily_discussion_june_19_2018/e0ypdrd
S01E12: HODLERS are people too
https://www.reddit.com/Bitcoin/comments/8s7dvd/daily_discussion_june_19_2018/e0ykk2v
S01E11: Square Cash App
https://www.reddit.com/Bitcoin/comments/8ry1gb/daily_discussion_june_18_2018/e0wdlxi
S01E10: Predictions, predictions
https://www.reddit.com/Bitcoin/comments/8rpvtt/daily_discussion_june_17_2018/e0tte6t
S01E09: Too expensive?
https://www.reddit.com/Bitcoin/comments/8ri7zp/daily_discussion_june_16_2018/e0rvb0z
S01E08: Aarrrrrrnoooooooold
https://www.reddit.com/Bitcoin/comments/8r9if9/daily_discussion_june_15_2018/e0qqezr
S01E07: Sinking Ship
https://www.reddit.com/Bitcoin/comments/8r9if9/daily_discussion_june_15_2018/e0pn5mc
S01E06: Delusional
https://www.reddit.com/Bitcoin/comments/8r0clm/daily_discussion_june_14_2018/e0otg3x
S01E05: Bitcoin Immortality and Log Chart
https://www.reddit.com/Bitcoin/comments/8qqy0i/daily_discussion_june_13_2018/e0mofn0
S01E04: Hal Finney
https://www.reddit.com/Bitcoin/comments/8qhgbl/daily_discussion_june_12_2018/e0kn24t
S01E03: You can make a difference.
https://www.reddit.com/Bitcoin/comments/8q822daily_discussion_june_11_2018/e0igv6m
S01E02: Being a Fudster - an Ageless Past-time
https://www.reddit.com/Bitcoin/comments/8pznhe/daily_discussion_june_10_2018/e0gngdz
S01E01: Are you ready for the drops?
https://www.reddit.com/Bitcoin/comments/8pznhe/daily_discussion_june_10_2018/e0fp7m6
The Pilot: 770 bitcoins
https://www.reddit.com/Bitcoin/comments/8k2sl0/daily_discussion_may_17_2018/dz4iawv
submitted by The-Physicist to Bitcoin [link] [comments]

Bitcoin ETF- the holy grail?

Bitcoin ETF- the holy grail?

What is an ETF?

ETF stands for exchange traded fund, which is basically a security that tracks some underlying assets (for example equities, bonds or commodities). The issuer of the ETF takes custody of the underlying assets it tracks and then issues a number of shares that represent ownership. These shares can be easily traded (like stocks) and therefore remove a lot of barriers for investors who are willing to invest in this particular asset.

If an ETF-issuer wants to create new shares, they turn to an authorized participant (AP). An AP is someone who is responsible for purchasing the underlying assets an ETF wants to hold. APs require a license from the ETF provider and then buys the underlying asset on behalf of the ETF-issuer. Subsequently, the AP sends these freshly purchased assets to the ETF-issuer and then ETF provider sends shares of the fund back to the AP. The value of these shares is equal to the assets the ETF provider just received.
The redeeming process works in the opposite direction: AP sends ETF shares it wants to redeem to the ETF provider, which then
returns the underlying assets back to the AP.

There are times when the price of the ETC can become higher than the price of its underlying assets, or net asset value (NAV). Then the ETF is said to be trading at a premium. If the ETF is trading below NAV it is called trading at a discount. The AP arbitrages premiums and discounts to keep the market price tightly coupled to the NAV.

What is the benefit of an BTC ETF?

The shares of an ETF can easily be obtained and traded and lowers the barrier of entry for investors. With Bitcoin, these barriers are buying the asset and, most of all, safe storage of the asset. A BTC ETF enables technologically inexperienced investors to profit from BTC price movement without going through the hassle of securing their private keys. Hedge funds, pension funds, and 401ks can easily invest in this ETF, so we expect a lot of new capital to flow in Bitcoin. Increased capital inflow decreases volatility and therefore making BTC more stable.

What types of Bitcoin ETFs are proposed?

There are two types of Bitcoin ETF proposals:
ETFs that Physically Hold Bitcoin (VanEck & SolidX ETF)
ETFs that Purchase Bitcoin Derivatives (ProShares, GraniteShares, Direxion)
ETFs that physically hold Bitcoin

This type of ETF owns the underlying asset it tracks. Every share is backed by the real deal.

Pros:
low transaction costs
tracks the performance of the underlying asset directly
high liquidity

Contras:
counterparty risk (custody of the asset)
ETFs can only be traded through specific daytimes where the BTC market is open 24 hours

ETFs that purchase Bitcoin derivatives
The second kind of ETF does not actually hold any Bitcoin. Instead, the ETF tries to mimic the performance of Bitcoin by trading Bitcoin futures, options, swaps, money market instruments.

Pros:
no worrying of custody of BTC, since these types of ETF don't hold BTC directly

Contras:
approximating the performance of Bitcoin
active management risk
active management cost
margin call risk
leveraged trading risk
rollover risk
ETFs that are holding physically Bitcoin are far superior to the derivatives-based one. And I expect the first type to havesignificant higher chances of approval. BTC-futures are only a few months old and I cannot imagine that the SEC will approve an
ETF that tracks these highly speculative and brand new derivatives as underlying.

Requirements of the SEC

The U.S.- Securities and Exchange Commission (SEC) has certain requirements for an ETF to be approved:
Custody solutions
immune to manipulation
sufficient liquidity
coorect valuation of the NAV

Current situation

All derivatives-backed ETFs were rejected by the SEC on August 23. These ETFs were filed by ProShares and Direxion.
The decision came down to the risk of market manipulation & fraud. The SEC can only approve an ETF that is designed to
prevent fraudulent and manipulative acts and practices. The Winklevoss ETF (backed by the underlying asset) was rejected
earlier this month. The main argument for rejection was the fact that the price determination of the NAV would only happen
on the Gemini exchange (which is owned by the Winklevoss twins). The only remaining big proposal is the ETF from
VanEck & SolidX which backed by the CBOE (Chicago Board of Options).

The VanEck & SolidEck ETF proposal backed by the CBOE

This proposal is vastly superior to prior ETF proposals and addresses most of the concerns the SEC has expressed when rejecting prior ETF applications. Reasons are:
holds physical BTC
backed by the CBOE, which is a very serious institution
shares are big (25 BTC = 1 share), this excludes retail investors
Involved parties:
Fund: SolidX Bitcoin Shares.
FileExchange: CBOE BZX Exchange.
Trust/Fund IssueBTC Custodian: VanEck SolidX Bitcoin Trust.
Trust’s SponsoManager: SolidX Management.
Trust’s Administrator & Cash Custodian: BNY Mellon.
Marketing Agent: Foreside Fund Services.
Marketing: Van Eck Securities Corp.

Comparison with a Gold ETF

The SEC approved the streetTRACKS Gold Shares ETP even though the spot gold market were largely unregulated.
On March 28, 2003, the first gold-backed ETF, developed by ETF Securities, was launched. It trades on the Australian stock exchange as the ETFS Physical GoldGOLD, +0.06% with assets under management at about $602 million.
“We can certainly track the growth of gold ETFs since their invention, and see how investor interest in gold has growth significantly,” said Will Rhind, managing director of U.S. operations for ETF Securities. Globally, there are now 143 gold ETFs available, with the latest data showing assets under management at roughly $132 billion, he said.
In the first few years after the first Gold ETF was introduced, the Gold price rose by over 600%. The ETF lowered the barrier
of entry for many investors.

Final deadline

The Sec can postpone the final decision until 21. February 2019 and we expect them to do so. The developement of Bitcoin markets made big leaps forward since the filing for the Winklevoss ETF, for example we have now very advanced custody solutions
(from Coinbase for example) and with increasing liquidtiy volatility decrease.


submitted by MICH3R to swissborg [link] [comments]

SEC’s Meeting with of SolidX, VanEck, and CBOE Paves the Way for a Bitcoin ETF

The race to launch the first Bitcoin exchange-traded fund (ETF) seems close to a happy ending. Although it is difficult to determine a date, many analysts have expressed an optimistic view of the situation after analyzing the latest developments in this area.
The SEC has acquired a bad image within the ecosystem of users and traders of cryptocurrencies after denying all the Bitcoin ETFs that had been presented. The most famous case was that of Gemini -the Exchange owned by the Winklevoss twins – while the last denied Bitcoin ETF was that of VanEck. https://ethereumworldnews.com/sec-meeting-solidx-vaneck-cboe-bitcoin-etf/
submitted by ewasegun to Connecty [link] [comments]

Is Bitcoin Taking over from Gold?

Is Bitcoin Taking over from Gold?
Bitcoin has been seeing more transaction volume than gold despite the serious hit it took in 2018.
This event has been happening consistently since the second quarter of 2017 after the world’s first cryptocurrency hit ‘parity’ with the price of an ounce of gold in spring of last year.
One notable point is that despite the serious hit Bitcoin took in 2018, it’s still outperforming the precious metal by a factor of two.
In less than ten years, Bitcoin is already used in the digital age more than the precious metal that has been the de facto store of value for thousands of years.
Gold and the world’s largest cryptocurrency have been commonly compared with each other. John Pfeffer, serial entrepreneur and partner at Pfeffer Capital, said earlier this year that Bitcoin is the first viable replacement for gold.
https://preview.redd.it/wncxy57r37h11.png?width=650&format=png&auto=webp&s=291529dd8119a1eb535e8ee6a135b05130fcdd7b
The famous Winklevoss twins also made a strong statement in late 2017, saying:
“Taking bitcoin in isolation… we believe bitcoin disrupts gold. We think it’s a better gold, if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it’s better than scarce… it’s more portable, its fungible, it’s more durable. It sort of equals a better gold across the board.”
The director of VanEck/MVIS also spoke highly of the cryptocurrency compared to gold, noting that:
“Gold today has around $7 trillion outstanding. If you take, say, 5 to 10% — I’ll let everyone do the math — bitcoin has upside.”
Meanwhile, at press time, it is reported that the top 20 cryptocurrencies but Ethereum Classic are trading in the green. Bitcoin (BTC) $6511.74 +0.33% is experiencing a slight recovery after downing under $6,000 earlier in the week.
submitted by xTRMED1 to iholding [link] [comments]

The wilkelvoss are trying to make bitcoin legit according to esquire magazine

Every idea needs a face, even if the faces are illusory simplifications. The country you get is the president you get. The Yankees you get is the shortstop you get. Apple needed Jobs. ISIS needs al-Baghdadi. The moon shot belongs to Bezos. There's nothing under the Facebook sun that doesn't come back to Zuckerberg.
But there is, as yet, no face behind the bitcoin curtain. It's the currency you've heard about but haven't been able to understand. Still to this day nobody knows who created it. For most people, it has something to do with programmable cash and algorithms and the deep space of mathematics, but it also has something to do with heroin and barbiturates and the sex trade and bankruptcies, too. It has no face because it doesn't seem tangible or real. We might align it with an anarchist's riot mask or a highly conceptualized question mark, but those images truncate its reality. Certain economists say it's as important as the birth of the Internet, that it's like discovering ice. Others are sure that it's doomed to melt. In the political sphere, it is the darling of the cypherpunks and libertarians. When they're not busy ignoring it, it scares the living shit out of the big banks and credit-card companies.
ADVERTISEMENT - CONTINUE READING BELOW
It sparked to life in 2008—when all the financial world prepared for itself the articulate noose—and it knocked on the door like some inconvenient relative arriving at the dinner party in muddy shoes and a knit hat. Fierce ideological battles are currently being waged among the people who own and shepherd the currency. Some shout, Ponzi scheme. Some shout, Gold dust. Bitcoin alone is worth billions of dollars, but the computational structure behind it—its blockchain and its sidechains—could become the absolute underpinning of the world's financial structure for decades to come.
What bitcoin has needed for years is a face to legitimize it, sanitize it, make it palpable to all the naysayers. But it has no Larry Ellison, no Elon Musk, no noticeable visionaries either with or without the truth. There's a lot of ideology at stake. A lot of principle and dogma and creed. And an awful lot of cash, too.
At 6:00 on a Wednesday winter morning, three months after launching Gemini, their bitcoin exchange, Tyler and Cameron Winklevoss step out onto Broadway in New York, wearing the same make of sneakers, the same type of shorts, their baseball caps turned backward. They don't quite fall into the absolute caricature of twindom: They wear different-colored tops. Still, it's difficult to tell them apart, where Tyler ends and Cameron begins. Their faces are sculpted from another era, as if they had stepped from the ruin of one of Gatsby's parties. Their eyes are quick and seldom land on anything for long. Now thirty-four, there is something boyishly earnest about them as they jog down Prince Street, braiding in and out of each other, taking turns talking, as if they were working in shifts, drafting off each other.
Forget, for a moment, the four things the Winklevosses are most known for: suing Mark Zuckerberg, their portrayal in The Social Network, rowing in the Beijing Olympics, and their overwhelming public twinness. Because the Winklevoss brothers are betting just about everything—including their past—on a fifth thing: They want to shake the soul of money out.
At the deep end of their lives, they are athletes. Rowers. Full stop. And the thing about rowing—which might also be the thing about bitcoin—is that it's just about impossible to get your brain around its complexity. Everyone thinks you're going to a picnic. They have this notion you're out catching butterflies. They might ask you if you've got your little boater's hat ready. But it's not like that at all. You're fifteen years old. You rise in the dark. You drag your carcass along the railroad tracks before dawn. The boathouse keys are cold to the touch. You undo the ropes. You carry a shell down to the river. The carbon fiber rips at your hands. You place the boat in the water. You slip the oars in the locks. You wait for your coach. Nothing more than a thumb of light in the sky. It's still cold and the river stinks. That heron hasn't moved since yesterday. You hear Coach's voice before you see him. On you go, lads. You start at a dead sprint. The left rib's a little sore, but you don't say a thing. You are all power and no weight. The first push-to-pull in the water is a ripping surprise. From the legs first. Through the whole body. The arc. Atomic balance. A calm waiting for the burst. Your chest burns, your thighs scald, your brain blanks. It feels as if your rib cage might shatter. You are stillness exploding. You catch the water almost without breaking the surface. Coach says something about the pole vault. You like him. You really do. That brogue of his. Lads this, lads that. Fire. Stamina. Pain. After two dozen strokes, it already feels like you're hitting the wall. All that glycogen gone. Nobody knows. Nobody. They can't even pronounce it. Rowing. Ro-wing. Roh-ing. You push again, then pull. You feel as if you are breaking branch after branch off the bottom of your feet. You don't rock. You don't jolt. Keep it steady. Left, right, left, right. The heron stays still. This river. You see it every day. Nothing behind you. Everything in front. You cross the line. You know the exact tree. Your chest explodes. Your knees are trembling. This is the way the world will end, not with a whimper but a bang. You lean over the side of the boat. Up it comes, the breakfast you almost didn't have. A sign of respect to the river. You lay back. Ah, blue sky. Some cloud. Some gray. Do it again, lads. Yes, sir. You row so hard you puke it up once more. And here comes the heron, it's moving now, over the water, here it comes, look at that thing glide.
ADVERTISEMENT - CONTINUE READING BELOW
The Winklevoss twins in the men's pair final during the 2008 Beijing Olympic Games. GETTY There's plenty of gin and beer and whiskey in the Harrison Room in downtown Manhattan, but the Winklevoss brothers sip Coca-Cola. The room, one of many in the newly renovated Pier A restaurant, is all mahogany and lamplight. It is, in essence, a floating bar, jutting four hundred feet out into the Hudson River. From the window you can see the Statue of Liberty. It feels entirely like their sort of room, a Jazz Age expectation hovering around their initial appearance—tall, imposing, the hair mannered, the collars of their shirts slightly tilted—but then they just slide into their seats, tentative, polite, even introverted.
They came here by subway early on a Friday evening, and they lean back in their seats, a little wary, their eyes busy—as if they want to look beyond the rehearsal of their words.
They had the curse of privilege, but, as they're keen to note, a curse that was earned. Their father worked to pay his way at a tiny college in backwoods Pennsylvania coal country. He escaped the small mining town and made it all the way to a professorship at Wharton. He founded his own company and eventually created the comfortable upper-middle-class family that came with it. They were raised in Greenwich, Connecticut, the most housebroken town on the planet. They might have looked like the others in their ZIP code, and dressed like them, spoke like them, but they didn't quite feel like them. Some nagging feeling—close to anger, close to fear—lodged itself beneath their shoulders, not quite a chip but an ache. They wanted Harvard but weren't quite sure what could get them there. "You have to be basically the best in the world at something if you're coming from Greenwich," says Tyler. "Otherwise it's like, great, you have a 1600 SAT, you and ten thousand others, so what?"
The rowing was a means to an end, but there was also something about the boat that they felt allowed another balance between them. They pulled their way through high school, Cameron on the port-side oar, Tyler on the starboard. They got to Harvard. The Square was theirs. They rowed their way to the national championships—twice. They went to Oxford. They competed in the Beijing Olympics. They sucked up the smog. They came in sixth place. The cameras loved them. Girls, too. They were so American, sandy-haired, blue-eyed, they could have been cast in a John Cougar Mellencamp song.
It might all have been so clean-cut and whitebread except for the fact that—at one of the turns in the river—they got involved in the most public brawl in the whole of the Internet's nascent history.
They don't talk about it much anymore, but they know that it still defines them, not so much in their own minds but in the minds of others. The story seems simple on one level, but nothing is ever simple, not even simplification. Theirs was the original idea for the first social network, Harvard Connection. They hired Mark Zuckerberg to build it. Instead he went off and created Facebook. They sued him. They settled for $65 million. It was a world of public spats and private anguish. Rumors and recriminations. A few years later, dusty old pre-Facebook text messages were leaked online by Silicon Alley Insider: "Yeah, I'm going to fuck them," wrote Zuckerberg to a friend. "Probably in the ear." The twins got their money, but then they believed they were duped again by an unfairly low evaluation of their stock. They began a second round of lawsuits for $180 million. There was even talk about the Supreme Court. It reeked of opportunism. But they wouldn't let it go. In interviews, they came across as insolent and splenetic, tossing their rattles out of the pram. It wasn't about the money, they said at the time, it was about fairness, reality, justice. Most people thought it was about some further agile fuckery, this time in Zuckerberg's ear.
There are many ways to tell the story, but perhaps the most penetrating version is that they weren't screwed so much by Zuckerberg as they were by their eventual portrayal in the film version of their lives. They appeared querulous and sulky, exactly the type of characters that America, peeling off the third-degree burns of the great recession, needed to hate. While the rest of the country worried about mounting debt and vanishing jobs, they were out there drinking champagne from, at the very least, Manolo stilettos. The truth would never get in the way of a good story. In Aaron Sorkin's world, and on just about every Web site, the blueblood trust-fund boys got what was coming to them. And the best thing now was for them to take their Facebook money and turn the corner, quickly, away, down toward whatever river would whisk them away.
Armie Hammer brilliantly portrayed them as the bluest of bloods in The Social Network. When the twins are questioned about those times now, they lean back a little in their seats, as if they've just lost a long race, a little perplexed that they came off as the victims of Hollywood's ability to throw an image, while the whole rip-roaring regatta still goes on behind them. "They put us in a box," says Cameron, "caricatured to a point where we didn't really exist." He glances around the bar, drums his finger against the glass. "That's fair enough. I understand that impulse." They smart a little when they hear Zuckerberg's name. "I don't think Mark liked being called an asshole," says Tyler, with a flick of bluster in his eyes, but then he catches himself. "You know, maybe Mark doesn't care. He's a bit of a statesman now, out there connecting the world. I have nothing against him. He's a smart guy."
These are men who've been taught, or have finally taught themselves, to tell their story rather than be told by it. But underneath the calm—just like underneath the boat—one can sense the churn.
They say the word—ath-letes—as if it were a country where pain is the passport. One of the things the brothers mention over and over again is that you can spontaneously crack a rib while rowing, just from the sheer exertion of the muscles hauling on the rib cage.
Along came bitcoin.
At its most elemental, bitcoin is a virtual currency. It's the sort of thing a five-year-old can understand—It's just e-cash, Mom—until he reaches eighteen and he begins to question the deep future of what money really means. It is a currency without government. It doesn't need a banker. It doesn't need a bank. It doesn't even need a brick to be built upon. Its supporters say that it bypasses the Man. It is less than a decade old and it has already come through its own Wild West, a story rooted in uncharted digital territory, up from the dust, an evening redness in the arithmetical West.
These are men who've been taught, or have finally taught themselves, to tell their story rather than be told by it. Bitcoin appeared in 2008—westward ho!—a little dot on the horizon of the Internet. It was the brainchild of a computer scientist named Satoshi Nakamoto. The first sting in the tale is that—to this very day—nobody knows who Nakamoto is, where he lives, or how much of his own invention he actually owns. He could be Californian, he could be Australian, he could even be a European conglomerate, but it doesn't really matter, since what he created was a cryptographic system that is borderless and supposedly unbreakable.
In the beginning the currency was ridiculed and scorned. It was money created from ones and zeros. You either bought it or you had to "mine" for it. If you were mining, your computer was your shovel. Any nerd could do it. You keyed your way in. By using your computer to help check and confirm the bitcoin transactions of others, you made coin. Everyone in this together. The computer heated up and mined, down down down, into the mathematical ground, lifting up numbers, making and breaking camp every hour or so until you had your saddlebags full of virtual coin. It all seemed a bit of a lark at first. No sheriff, no deputy, no central bank. The only saloon was a geeky chat room where a few dozen bitcoiners gathered to chew data.
Lest we forget, money was filthy in 2008.
The collapse was coming. The banks were shorting out. The real estate market was a confederacy of dunces. Bernie Madoff's shadow loomed. Occupy was on the horizon. And all those Wall Street yahoos were beginning to squirm.
Along came bitcoin like some Jesse James of the financial imagination. It was the biggest disruption of money since coins. Here was an idea that could revolutionize the financial world. A communal articulation of a new era. Fuck American Express. Fuck Western Union. Fuck Visa. Fuck the Fed. Fuck the Treasury. Fuck the deregulated thievery of the twenty-first century.
To the earliest settlers, bitcoin suggested a moral way out. It was a money created from the ground up, a currency of the people, by the people, for the people, with all government control extinguished. It was built on a solid base of blockchain technology where everyone participated in the protection of the code. It attracted anarchists, libertarians, whistle-blowers, cypherpunks, economists, extropians, geeks, upstairs, downstairs, left-wing, right-wing. Sure, it could be used by businesses and corporations, but it could also be used by poor people and immigrants to send money home, instantly, honestly, anonymously, without charge, with a click of the keyboard. Everyone in the world had access to your transaction, but nobody had to know your name. It bypassed the suits. All you needed to move money was a phone or a computer. It was freedom of economic action, a sort of anarchy at its democratic best, no rulers, just rules.
Bitcoin, to the original explorers, was a safe pass through the government-occupied valleys: Those assholes were up there in the hills, but they didn't have any scopes on their rifles, and besides, bitcoin went through in communal wagons at night.
Ordinary punters took a shot. Businesses, too. You could buy silk ties in Paris without any extra bank charges. You could protect your money in Buenos Aires without fear of a government grab.
The Winklevoss twins leave the U.S. Court of Appeals in 2011, after appearing in court to ask that the previous settlement case against Facebook be voided. GETTY But freedom can corrupt as surely as power. It was soon the currency that paid for everything illegal under the sun, the go-to money of the darknet. The westward ho! became the outlaw territory of Silk Road and beyond. Heroin through the mail. Cocaine at your doorstep. Child porn at a click. What better way for terrorists to ship money across the world than through a network of anonymous computers? Hezbollah, the Taliban, the Mexican cartels. In Central America, kidnappers began demanding ransom in bitcoin—there was no need for the cash to be stashed under a park bench anymore. Now everything could travel down the wire. Grab, gag, and collect. Uranium could be paid for in bitcoin. People, too. The sex trade was turned on: It was a perfect currency for Madame X. For the online gambling sites, bitcoin was pure jackpot.
For a while, things got very shady indeed. Over a couple years, the rate pinballed between $10 and $1,200 per bitcoin, causing massive waves and troughs of online panic and greed. (In recent times, it has begun to stabilize between $350 and $450.) In 2014, it was revealed that hackers had gotten into the hot wallet of Mt. Gox, a bitcoin exchange based in Tokyo. A total of 850,000 coins were "lost," at an estimated value of almost half a billion dollars. The founder of Silk Road, Ross William Ulbricht (known as "Dread Pirate Roberts"), got himself a four-by-six room in a federal penitentiary for life, not to mention pending charges for murder-for-hire in Maryland.
Everyone thought that bitcoin was the problem. The fact of the matter was, as it so often is, human nature was the problem. Money means desire. Desire means temptation. Temptation means that people get hurt.
During the first Gold Rush in the late 1840s, the belief was that all you needed was a pan and a decent pair of boots and a good dose of nerve and you could go out and make yourself a riverbed millionaire. Even Jack London later fell for the lure of it alongside thousands of others: the western test of manhood and the promise of wealth. What they soon found out was that a single egg could cost twenty-five of today's dollars, a pound of coffee went for a hundred, and a night in a whorehouse could set you back $6,000.
A few miners hit pay dirt, but what most ended up with for their troubles was a busted body and a nasty dose of syphilis.
The gold was discovered on the property of John Sutter in Sacramento, but the one who made the real cash was a neighboring merchant, Samuel Brannan. When Brannan heard the news of the gold nuggets, he bought up all the pickaxes and shovels he could find, filled a quinine bottle with gold dust, and went to San Francisco. Word went around like a prayer in a flash flood: gold gold gold. Brannan didn't wildcat for gold himself, but at the peak of the rush he was flogging $5,000 worth of shovels a day—that's $155,000 today—and went on to become the wealthiest man in California, alongside the Wells Fargo crew, Levi Strauss, and the Studebaker family, who sold wheelbarrows.
If you comb back through the Winklevoss family, you will find a great-grandfather and a great-great-grandfather who knew a thing or two about digging: They worked side by side in the coal mines of Pennsylvania. They didn't go west and they didn't get rich, but maybe the lesson became part of their DNA: Sometimes it's the man who sells the shovels who ends up hitting gold.
Like it or not—and many people don't like it—the Winklevoss brothers are shaping up to be the Samuel Brannans of the bitcoin world.
Nine months after being portrayed in The Social Network, the Winklevoss twins were back out on the water at the World Rowing Cup. CHRISTOPHER LEE/GETTY They heard about it first poolside in Ibiza, Spain. Later it would play into the idea of ease and privilege: umbrella drinks and girls in bikinis. But if the creation myth was going to be flippant, the talk was serious. "I'd say we were cautious, but we were definitely intrigued," says Cameron. They went back home to New York and began to read. There was something about it that got under their skin. "We knew that money had been so broken and inefficient for years," says Tyler, "so bitcoin appealed to us right away."
They speak in braided sentences, catching each other, reassuring themselves, tightening each other's ideas. They don't quite want to say that bitcoin looked like something that might be redemptive—after all, they, like everyone else, were looking to make money, lots of it, Olympic-sized amounts—but they say that it did strike an idealistic chord inside them. They certainly wouldn't be cozying up to the anarchists anytime soon, but this was a global currency that, despite its uncertainties, seemed to present a solution to some of the world's more pressing problems. "It was borderless, instantaneous, irreversible, decentralized, with virtually no transaction costs," says Tyler. It could possibly cut the banks out, and it might even take the knees out from under the credit-card companies. Not only that, but the price, at just under ten dollars per coin, was in their estimation low, very low. They began to snap it up.
They were aware, even at the beginning, that they might, once again, be called Johnny-come-latelys, just hopping blithely on the bandwagon—it was 2012, already four years into the birth of the currency—but they went ahead anyway, power ten. Within a short time they'd spent $11 million buying up a whopping 1 percent of the world's bitcoin, a position they kept up as more bitcoins were mined, making their 1 percent holding today worth about $66 million.
But bitcoin was flammable. The brothers felt the burn quickly. Their next significant investment came later that year, when they gave $1.5 million in venture funding to a nascent exchange called BitInstant. Within a year the CEO was arrested for laundering drug money through the exchange.
So what were a pair of smart, clean-cut Olympic rowers doing hanging around the edges of something so apparently shady, and what, if anything, were they going to do about it?
They mightn't have thought of it this way, but there was something of the sheriff striding into town, the one with the swagger and the scar, glancing up at the balconies as he comes down Main Street, all tumbleweeds and broken pianos. This place was a dump in most people's eyes, but the sheriff glimpsed his last best shot at finally getting the respect he thinks he deserves.
The money shot: A good stroke will catch the water almost without breaking its seal. You stir without rippling. Your silence is sinewy. There's muscle in that calm. The violence catches underneath, thrusts the boat along. Stroke after stroke. Just keep going. Today's truth dies tomorrow. What you have to do is elemental enough. You row without looking behind you. You keep the others in front of you. As long as you can see what they're doing, it's all in your hands. You are there to out-pain them. Doesn't matter who they are, where they come from, how they got here. Know your enemy through yourself. Push through toward pull. Find the still point of this pain. Cut a melody in the disk of your flesh. The only terror comes when they pass you—if they ever pass you.
There are no suits or ties, but there is a white hum in the offices of Gemini in the Flatiron District. The air feels as if it has been brushed clean. There is something so everywhereabout the place. Ergonomic chairs. iPhone portals. Rows of flickering computers. Not so much a hush around the room as a quiet expectation. Eight, nine people. Programmers, analysts, assistants. Other employees—teammates, they call them—dialing in from Portland, Oregon, and beyond.
The brothers fire up the room when they walk inside. A fist-pump here, a shoulder touch there. At the same time, there is something almost shy about them. Apart, they seem like casual visitors to the space they inhabit. It is when they're together that they feel fully shaped. One can't imagine them being apart from each other for very long.
The Winklevoss twins speak onstage at Bitcoin! Let's Cut Through the Noise Already at SXSW in 2016. GETTY They move from desk to desk. The price goes up, the price goes down. The phones ring. The e-mails beep. Customer-service calls. Questions about fees. Inquiries about tax structures.
Gemini was started in late 2015 as a next-generation bitcoin exchange. It is not the first such exchange in the world by any means, but it is one of the most watched. The company is designed with ordinary investors in mind, maybe a hedge fund, maybe a bank: all those people who used to be confused or even terrified by the word bitcoin. It is insured. It is clean. What's so fascinating about this venture is that the brothers are risking themselves by trying to eliminate risk: keeping the boat steady and exploding through it at the same time.
It is when they're together that they feel fully shaped. One can't imagine them being apart from each other for very long. For the past couple years, the Winklevosses have worked closely with just about every compliance agency imaginable. They ticked off all the regulatory boxes. Essentially they wanted to ease all the Debting Thomases. They put regulatory frameworks in place. Security and bankability and insurance were their highest objectives. Nobody was going to be able to blow open the safe. They wanted to soothe all the appetites for risk. They told Bitcoin Magazine they were asking for "permission, not forgiveness."
This is where bitcoin can become normal—that is, if you want bitcoin to be normal.
Just a mile or two down the road, in Soho, a half dozen bitcoiners gather at a meetup. The room is scruffy, small, boxy. A half mannequin is propped on a table, a scarf draped around it. It's the sort of place that twenty years ago would have been full of cigarette smoke. There's a bit of Allen Ginsberg here, a touch of Emma Goldman, a lot of Zuccotti Park. The wine is free and the talk is loose. These are the true believers. They see bitcoin in its clearest possible philosophical terms—the frictionless currency of the people, changing the way people move money around the world, bypassing the banks, disrupting the status quo.
A comedy show is being run out in the backyard. A scruffy young man wanders in and out, announcing over and over again that he is half-baked. A well-dressed Asian girl sidles up to the bar. She looks like she's just stepped out of an NYU business class. She's interested in discovering what bitcoin is. She is regaled by a series of convivial answers. The bartender tells her that bitcoin is a remaking of the prevailing power structures. The girl asks for another glass of wine. The bartender adds that bitcoin is democracy, pure and straight. She nods and tells him that the wine tastes like cooking oil. He laughs and says it wasn't bought with bitcoin. "I don't get it," she says. And so the evening goes, presided over by Margaux Avedisian, who describes herself as the queen of bitcoin. Avedisian, a digital-currency consultant of Armenian descent, is involved in several high-level bitcoin projects. She has appeared in documentaries and on numerous panels. She is smart, sassy, articulate.
When the talk turns to the Winklevoss brothers, the bar turns dark. Someone, somewhere, reaches up to take all the oxygen out of the air. Avedisian leans forward on the counter, her eyes shining, delightful, raged.
"The Winklevii are not the face of bitcoin," she says. "They're jokes. They don't know what they're saying. Nobody in our community respects them. They're so one-note. If you look at their exchange, they have no real volume, they never will. They keep throwing money at different things. Nobody cares. They're not part of us. They're just hangers-on."
"Ah, they're just assholes," the bartender chimes in.
"What they want to do," says Avedisian, "is lobotomize bitcoin, make it into something entirely vapid. They have no clue."
The Asian girl leaves without drinking her third glass of free wine. She's got a totter in her step. She doesn't quite get the future of money, but then again maybe very few in the world do.
Giving testimony on bitcoin licensing before the New York State Department of Financial Services in 2014. LUCAS JACKSON/REUTERS The future of money might look like this: You're standing on Oxford Street in London in winter. You think about how you want to get to Charing Cross Road. The thought triggers itself through electrical signals into the chip embedded in your wrist. Within a moment, a driverless car pulls up on the sensor-equipped road. The door opens. You hop in. The car says hello. You tell it to shut up. It does. It already knows where you want to go. It turns onto Regent Street. You think,A little more air-conditioning, please. The vents blow. You think, Go a little faster, please. The pace picks up. You think, This traffic is too heavy, use Quick(TM). The car swings down Glasshouse Street. You think, Pay the car in front to get out of my way. It does. You think, Unlock access to a shortcut. The car turns down Sherwood Street to Shaftsbury Avenue. You pull in to Charing Cross. You hop out. The car says goodbye. You tell it to shut up again. You run for the train and the computer chip in your wrist pays for the quiet-car ticket for the way home.
All of these transactions—the air-conditioning, the pace, the shortcut, the bribe to get out of the way, the quick lanes, the ride itself, the train, maybe even the "shut up"—will cost money. As far as crypto-currency enthusiasts think, it will be paid for without coins, without phones, without glass screens, just the money coming in and going out of your preprogrammed wallet embedded beneath your skin.
The Winklevosses are betting that the money will be bitcoin. And that those coins will flow through high-end, corporate-run exchanges like Gemini rather than smoky SoHo dives.
Cameron leans across a table in a New York diner, the sort of place where you might want to polish your fork just in case, and says: "The future is here, it's just not evenly distributed yet." He can't remember whom the quote belongs to, but he freely acknowledges that it's not his own. Theirs is a truculent but generous intelligence, capable of surprise and turn at the oddest of moments. They talk meditation, they talk economics, they talk Van Halen, they talk, yes, William Gibson, but everything comes around again to bitcoin.
"The key to all this is that people aren't even going to know that they're using bitcoin," says Tyler. "It's going to be there, but it's not going to be exposed to the end user. Bitcoin is going to be the rails that underpin our payment systems. It's just like an IP address. We don't log on to a series of numbers, 115.425.5 or whatever. No, we log on to Google.com. In the same way, bitcoin is going to be disguised. There will be a body kit that makes it user-friendly. That's what makes bitcoin a kick-ass currency."
Any fool can send a billion dollars across the world—as long as they have it, of course—but it's virtually impossible to send a quarter unless you stick it in an envelope and pay forty-nine cents for a stamp. It's one of the great ironies of our antiquated money system. And yet the quark of the financial world is essentially the small denomination. What bitcoin promises is that it will enable people and businesses to send money in just about any denomination to one another, anywhere in the world, for next to nothing. A public address, a private key, a click of the mouse, and the money is gone.
A Bitcoin conference in New York City in 2014. GETTY This matters. This matters a lot. Credit-card companies can't do this. Neither can the big banks under their current systems. But Marie-Louise on the corner of Libertador Avenue can. And so can Pat Murphy in his Limerick housing estate. So can Mark Andreessen and Bill Gates and Laurene Powell Jobs. Anyone can do it, anywhere in the world, at virtually no charge.
You can do it, in fact, from your phone in a diner in New York. But the whole time they are there—over identical California omelettes that they order with an ironic shrug—they never once open their phones. They come across more like the talkative guys who might buy you a drink at the sports bar than the petulants ordering bottle service in the VIP corner. The older they get, the more comfortable they seem in their contradictions: the competition, the ease; the fame, the quiet; the gamble, the sure thing.
Bitcoin is what might eventually make them among the richest men in America. And yet. There is always a yet. What seems indisputable about the future of money, to the Winklevosses and other bitcoin adherents, is that the technology that underpins bitcoin—the blockchain—will become one of the fundamental tenets of how we deal with the world of finance. Blockchain is the core computer code. It's open source and peer to peer—in other words, it's free and open to you and me. Every single bitcoin transaction ever made goes to an open public ledger. It would take an unprecedented 51 percent attack—where one entity would come to control more than half of the computing power used to mine bitcoin—for hackers to undo it. The blockchain is maintained by computers all around the world, and its future sidechains will create systems that deal with contracts and stock and other payments. These sidechains could very well be the foundation of the new global economy for the big banks, the credit-card companies, and even government itself.
"It's boundless," says Cameron.
This is what the brothers are counting on—and what might eventually make them among the richest men in America.
And yet. There is always a yet.
When you delve into the world of bitcoin, it gets deeper, darker, more mysterious all the time. Why has its creator remained anonymous? Why did he drop off the face of the earth? How much of it does he own himself? Will banks and corporations try to bring the currency down? Why are there really only five developers with full "commit access" to the code (not the Winklevosses, by the way)? Who is really in charge of the currency's governance?
Perhaps the most pressing issue at hand is that of scaling, which has caused what amounts to a civil war among followers. A maximum block size of one megabyte has been imposed on the chain, sort of like a built-in artificial dampener to keep bitcoin punk rock. That's not nearly enough capacity for the number of transactions that would take place in future visions. In years to come, there could be massive backlogs and outages that could create instant financial panic. Bitcoin's most influential leaders are haggling over what will happen. Will bitcoin maintain its decentralized status, or will it go legit and open up to infinite transactions? And if it goes legit, where's the punk?
The issues are ongoing—and they might very well take bitcoin down, but the Winklevosses don't think so. They have seen internal disputes before. They've refrained from taking a public stance mostly because they know that there are a lot of other very smart people in bitcoin who are aware that crisis often builds consensus. "We're in this for the long haul," says Tyler. "We're the first batter in the first inning."
GILLIAN LAUB The waiter comes across and asks them, bizarrely, if they're twins. They nod politely. Who was born first? They've heard it a million times and their answer is always the same: Neither of them—they were born cesarean. Cameron looks older, says the waiter. Tyler grins. Normally it's the other way around, says Cameron, grinning back. Do you ever fight? asks the waiter. Every now and then, they say. But not over this, not over the future.
Heraclitus was wrong. You can, in fact, step in the same river twice. In the beginning you went to the shed. No electricity there, no heat, just a giant tub where you simulated the river. You could only do eleven strokes. But there was something about the repetition, the difference, even the monotony, that hooked you. After a while it wasn't an abandoned shed anymore. College gyms, national training centers. Bigger buildings. High ceilings. AC. Doctors and trainers. Monitors hooked up to your heart, your head, your blood. Six foot five, but even then you were not as tall as the other guys. You liked the notion of underdog. Everyone called you the opposite. The rich kids. The privileged ones. To hell with that. They don't know us, who we are, where we came from. Some of the biggest chips rest on the shoulders of those with the least to lose. Six foot five times two makes just about thirteen feet. You sit in the erg and you stare ahead. Day in, day out. One thousand strokes, two thousand. You work with the very best. You even train with the Navy SEALs. It touches that American part of you. The sentiment, the false optimism. When the oil fields are burning, you even think, I'll go there with them. But you stay in the boat. You want that other flag rising. That's what you aim for. You don't win but you get close. Afterward there are planes, galas, regattas, magazine spreads, but you always come back to that early river. The cold. The fierceness. The heron. Like it or not, you're never going to get off the water—that's just the fact of the matter, it's always going to be there. Hard to admit it, but once you were wrong. You got out of the boat and you haggled over who made it. You lost that one, hard. You might lose this one, too, but then again it just might be the original arc that you're stepping toward. So you return, then. You rise before dark. You drag your carcass along Broadway before dawn.
All the rich men in the world want to get shot into outer space. Richard Branson. Jeff Bezos. Elon Musk. The new explorers. To get the hell out of here and see if they—and maybe we—can exist somewhere else for a while. It's the story of the century. We want to know if the pocket of the universe can be turned inside out. We're either going to bring all the detritus of the world upward with us or we're going to find a brand-new way to exist. The cynical say that it's just another form of colonization—they're probably right, but then again maybe it's our only way out.
The Winklevosses have booked their tickets—numbers 700 and 701—on Branson's Virgin Galactic. Although they go virtually everywhere together, the twins want to go on different flights because of the risk involved: Now that they're in their mid-thirties, they can finally see death, or at least its rumor. It's a boy's adventure, but it's also the outer edge of possibility. It cost a quarter of a million dollars per seat, and they paid for it, yes, in bitcoin.
Of course, up until recently, the original space flights all splashed down into the sea. One of the ships that hauled the Gemini space capsule out of the water in 1965 was the Intrepid aircraft carrier.
The Winklevosses no longer pull their boat up the river. Instead they often run five miles along the Hudson to the Intrepid and back. The destroyer has been parked along Manhattan's West Side for almost as long as they have been alive. It's now a museum. The brothers like the boat, its presence, its symbolism: Intrepid, Gemini, the space shot.
They ease into the run.
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Billionaire on Bitcoin: Winklevoss Twins - YouTube Story Of First Bitcoin Billionaire Winklevoss twins Winklevoss Twins Explain Bitcoin Winklevoss Twins Invest in Bitcoin Winklevoss twins become first bitcoin billionaire

The Winklevoss twins are the subject of Ben Mezrich’s new book, Bitcoin Billionaires. / Getty Images My journey to Bitcoin Billionaires began more than 11 years ago, with a strange little email ... Na de uitspraak werd er een schikking getroffen van $ 65 miljoen dollar. In het boek ‘Bitcoin Billionaires’ zet de reis van gebroeders Winklevoss voort, van het winnen van de rechtszaak in 2011 tot aan het investeren van $ 11 miljoen in Bitcoin (BTC) in 2013 en het worden van ’s werelds eerste crypto-miljardairs. Fast forward to the end of 2017, the year Bitcoin became mainstream and incredibly valuable. By the start of 2018, one Bitcoin was worth about $14,000 — making the Winklevoss twins Bitcoin billionaires. In the first months of 2018, it slid back to $6,000 to $7,000 a coin, a precipitous fall but still an impressive return on their investment. The Winklevoss Twins — Cameron and Tyler — are teaming with Greg Silverman’s Stampede Ventures on a feature film adaptation of “Bitcoin Billionaires,” the 2019 book by Ben Mezrich. As bitcoin dipped below US$10,000 on Wednesday, it extended a rout that has sliced US$443 million from the net worth of each of the Winklevoss Twins, leaving them with US$739 million apiece – at ...

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Billionaire on Bitcoin: Winklevoss Twins - YouTube

http://bit.ly/Join-BitClubNetwork Winklevoss Twins, Cameron and Tyler Explain Bitcoin! This video is about how the Winklevoss twins have become Billionaires. Guys share this video as much as you can. Do subscribe for regular updates and more awesome videos. By Everything Interesting ... Bitcoin Billionaires - Winklevoss Twins Hit First Milestone - Duration: 7:25. Altcoin Buzz 13,629 views. 7:25. Bitcoin Will One Day Be Worth 40 Times Price It Is Now: Gemini Exchange's Cameron ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Ben Mezrich joins CNBC's "Closing Bell" to discuss his new book "Bitcoin Billionaires."

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