
If Winklevoss tried to cash out, they’d probably crash the Bitcoin market - matchcohnn
https://www.inverse.com/article/39576-the-winklevoss-twins-would-probably-struggle-to-cash-their-bitcoin-billion
======
Idontrmbrlogin
This seems to be inaccurate. The twins could choose to simply sell the private
key in a private transaction. Assuming they didn't create one wallet with
50,000 bitcoin, they could even sell portions. This gets them paid AND puts
the onus for moving the coins to a new address on the new owner. They could
exit in 5 minutes if another billionaire wanted their coins bad enough.

~~~
mac01021
> simply sell the private key in a private transaction

Then why not sell it three times to three separate parties? And also keep a
copy of the key and engage in some spending from the wallet themselves?

I'm not saying that these particular people would engage in such trickery. But
I would be very wary of any proposition to sell me bitcoins in an out-of-band
transaction of this kind.

~~~
Idontrmbrlogin
Agreed, not saying it is smart but it IS possible.

------
whack
_" Typical trading volumes across the major exchanges are only about $2
billion globally"_

Sounds like they could just sell ~$20M everyday, which would account for only
1% of the daily trading volume. After ~50 days, they would have cashed out
$1B.

~~~
ThrustVectoring
That depends on how much of the daily trading volume is wash trading. Bitfinex
can just decide to give a couple accounts a pile of USDT on margin and self-
trade to stir up a sense of FOMO and convince folks to buy in. It's pretty
much free to do if you run the exchange.

------
arisAlexis
Same with buffet

------
pmdulaney
Winklevosses

~~~
ralph0
Didn't you see "The Social Network?" Winklevi! ;-)

~~~
pmdulaney
Touche (with an accent aigu) -- I had forgotten that. But I knew SOME kind of
plural was called for.

------
ct0
Dont we know this by now?

------
tinus_hn
It's the same with Bill Gates but nobody's doubting he's rich.

~~~
r0fl
No this is nothing like Bill Gates. He owns less than 2% of the shares.

[http://www.zdnet.com/article/bill-gates-stake-in-
microsoft-i...](http://www.zdnet.com/article/bill-gates-stake-in-microsoft-is-
now-just-1-3-percent/)

~~~
regulation_d
So, what percent of the BTC market cap do the the Winklevoss twins own? I
haven't seen anything suggesting that they own more than 1%.

