
The Winklevoss twins are now Bitcoin billionaires - aaronbrethorst
https://www.theverge.com/2017/12/4/16732952/winklevoss-twins-bitcoin-billionaires-surge
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TAForObvReasons
Related discussion from a day ago:
[https://news.ycombinator.com/item?id=15836087](https://news.ycombinator.com/item?id=15836087)

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SirensOfTitan
Good for them. The other thread here on this was filled with people
complaining about how lucky the Winklevii were here. Most success scenarios
I'm aware of are heavily driven by chance. People tend to attribute success to
luck whenever they don't think it was deserved (it's a very "what the thinker
thinks, the prover proves" type of arrangement). In this case, I find attempts
to discredit these guys as quite absurd. They took an early plunge into a
technology they found had potential and built one of the finest exchanges for
it (Gemini).

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hprotagonist
as my investment banker grandfather was keen to drill into me very early, the
proper ending to this sentence is “[...] when they sell.”

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pen2l
Oh yeah, I learned this lesson this month.

My stock holdings doubled in a relatively short time a few weeks ago... and
then this last week (and now today) they came back down. I'm slowly learning
the lesson that for nearly most people speculative investing is a waste of
time and money. I'm now going to be deleting all of my apps where I "check"
things like I check the news when I wake up every morning, will now just peak
in every other month or so.

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Nokinside
Can anyone give an credible estimate of the net currency flow between bitcoins
and conventional Forex market? (no investments in mining)

By all means be Bitcoin fan, but unless you can answer my question, you know
nothing.

Every time the market sell side , the BTC value drops like a stone. Bitcoin
has large market liquidity risk and Winklevoss brothers have liquidity
problem. Bitcoin markets don't seem to have any resiliencey and breath. There
are no controls for market manipulation.

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scalesolved
I cannot answer your question but BTC comprises $191 billion market cap out of
$342 billion market cap of all crypto currencies. Perhaps they'll diversify
into other coins, withdraw to Fiat via this too.

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Nokinside
Market liquidity problem means that they can't diversify easily. Any large
withdraw would collapse the price.

That's why I was asking the question. Market cap can be billions or trillion,
especially in manipulated markets, but if you can't withdraw your money with
that price it was not real value.

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Bishonen88
Looking forward to a similar article in 10 years:

"The Winklevoss twins are not Bitcoin bankrupts"

/s

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JustAnotherPat
One day only about 1 bitcoin (worth 1 trillion) will be actually tradable.
Everyone else will be holding.

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learnstats2
Meritocracy in action.

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meri_dian
They took the risk, gambled on Bitcoin when others were too afraid to. They
were rewarded for their gamble. Seems fair to me.

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learnstats2
Sure, and how did they have the money to gamble (sic) on Bitcoin?

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meri_dian
They were entrepreneurial enough to get entangled with Zuckerberg and
Facebook.

And to do that they had to be at Harvard at the right time, which involved
being born in the right circumstances of course.

