The Winkle Twins

[Chaoskampf]

What do you guys think of them? What's their angle? It's my opinion that they're not the simple Bitcoin evangelist/enthusiasts that they portray themselves to be. What I do know is that they're interested in a regulated Bitcoin, and especially after their recent SEC filing, I've been running through a number of theories as to what their ultimate goal might be in all of this. I'm interested to see what you guys think.

[Breen2543]

They just invest about $20,000,000 in BTC I believe. I hope they can make progress with this as it would surely make the price of BitCoin rise. On the other hand, if it goes that far, then banks and government gets involved... hmmm, I dont know

[spiral_mind]

What do you guys think of them? What's their angle? It's my opinion that they're not the simple Bitcoin evangelist/enthusiasts that they portray themselves to be. What I do know is that they're interested in a regulated Bitcoin, and especially after their recent SEC filing, I've been running through a number of theories as to what their ultimate goal might be in all of this. I'm interested to see what you guys think.

If you read the articles they state they will charge an undisclosed fee for their new instrument.

I think they want to make money.


/thread

[Rippyzippers]

Because clinging to Bitcoin is the only way for them to get in front of a camera or do an interview to feel important, because nobody else gives a fuck about them

[BitDreams]

Because when they lost their idea they went out and found a bigger and better one. Time will tell.

[Breen2543]

Ether way, its another outlet for Bitcoin into the mainstream, which is good.

[mgio]

People don't like thm because of that movie. They fail to realize it was nt a documentary; it was a MOVIE.

The winkleface twins are taking a huge risk with this bitcoin ETF, but if it succeeds it could make them a lot of money and be HUGE for bitcoin. This could easily be the best thing to happen to bitcoin in 2013.

[ABitBack]

People don't like thm because of that movie. They fail to realize it was nt a documentary; it was a MOVIE.

The winkleface twins are taking a huge risk with this bitcoin ETF, but if it succeeds it could make them a lot of money and be HUGE for bitcoin. This could easily be the best thing to happen to bitcoin in 2013.

Yeah based on a true story. I do think they portray themselves as a bit desperate though and that they have put all their eggs in one basket.

[SuperBroHeroFella]

/tinfoil mode

They have a kind of credibility for being elite and rich and are used by the world banks as a test drive into bitcoin. Then somehow they fuck shit up and they will be the news icon for how bitcoin is not worth it so the sheeples are scared back into their wonderful grass planes of fiat.

OR

They are so mad at all their people for making fun of their broken fb project and go for bitcoin as the last refuge.

[b!z]

Tldr: they want to be the bank of bitcoin

[bitcats]

The Twinkle Wins   

[N12]

It's because they want to dump their 200k BTC on the unsuspecting public.

[Chaoskampf]

One of my suspicions is that they want to be the head of a new and centralized Bitcoin that they hope to create. Their role in driving the legitimization (through regulation) of the currency in some hope of making it accessible to the masses might just be a front for putting it under their ultimate control. That's just one theory I've had...

[doom309]

they have publicly stated that regulation would be good for bitcoin

now its announced theyre aiming to create a bitcoin derivative for wall st, the bitcoin etf

we arent hearing anything from them on how to develop the bitcoin economy, improve merchant takeup, kickstart the thousands of new and drawingboard bitcoin businesses out there, or how to get african people and so forth into the scene ...

so im guessing their only concern is their own investment bottom line, which is fine and understandable, but ...

also confirms 95% of this community is being left behind, its every man/woman for him/herself !!

 

[Nagle]

It's because they want to dump their 200k BTC on the unsuspecting public.

Right. They bought a large number of Bitcoins. Now they want to unload them. But how? Mt. Gox isn't paying out USD to traders who sell, and nobody with $20 million would trust it to Mt. Gox. Tradehill probably doesn't have the volume to sell that many without crashing the market.  By creating an exchange-traded fund, and funding the initial offering with their Bitcoins, they have a vehicle for dumping 200k BTC.

[N12]

It's because they want to dump their 200k BTC on the unsuspecting public.

Right. They bought a large number of Bitcoins. Now they want to unload them. But how? Mt. Gox isn't paying out USD to traders who sell, and nobody with $20 million would trust it to Mt. Gox. Tradehill probably doesn't have the volume to sell that many without crashing the market.  By creating an exchange-traded fund, and funding the initial offering with their Bitcoins, they have a vehicle for dumping 200k BTC.

Nagle, it's you! Missing you over at the speculation forum. What would you say is the Bitcoin endgame at this point?

[SimplyBTC]

They are in it to make money. Don't judge them by the film. They appear to be successfull business men who are ruthless sometimes but that's how they make money. I don't like them personally but their investment and interest in bitcoin is probably a good thing until they sell their stock!

[AliceWonder]

They are in it to make money. Don't judge them by the film. They appear to be successfull business men who are ruthless sometimes but that's how they make money. I don't like them personally but their investment and interest in bitcoin is probably a good thing until they sell their stock!

Yes, I suspect they have pump and dump planned, but not all at once and not for awhile.
They'll let it grow and pump and sell some off and then let what's left grow etc.

That's what the who nasdaq thing is about.

[vokain]

It's because they want to dump their 200k BTC on the unsuspecting public.

Right. They bought a large number of Bitcoins. Now they want to unload them. But how? Mt. Gox isn't paying out USD to traders who sell, and nobody with $20 million would trust it to Mt. Gox. Tradehill probably doesn't have the volume to sell that many without crashing the market.  By creating an exchange-traded fund, and funding the initial offering with their Bitcoins, they have a vehicle for dumping 200k BTC.

Nagle, it's you! Missing you over at the speculation forum. What would you say is the Bitcoin endgame at this point?

If this is true they would've done this earlier. They bought at a very cheap price. When they announced months after purchasing, their 1% stake was worth $11M

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

they're in this for the long haul. They understand if bitcoin is to succeed, it must get into the hands of as many people as they can, in a way only people like them can.

see:

Another issue is the total amount of bitcoins they control,  if they do not increase it,  and money keeps pouring in (and they allow for physical deliver as most ETF's do)  then you now will see bitcoins worth 100k each or more.  

Not only are they going to be 'selling their bitcoins' to the investors ,  they will be making money on the transactions for life for 'managing' the fund.

You think mining fees are outrageous,  these guys just made the most powerful ASIC miner in history.    Every single transaction on that fund they will be making a profit from.

[cr1776]

I agree they seem to be in it for the long haul.  An ETF is a very positive because it opens up the BTC market to anyone with a brokerage account that has access to US markets.  It makes it easy for someone's mom or aunt or sister or son to buy "just a few bitcoins, just in case."  The costs involved setting up an ETF are not insignificant (I would think in the 6-7 figure USD range given the legal, regulator etc hurdles) and it seems as if this would be an expensive way to liquidate their positions.

Whatever the cost of their investment and relative to their other holdings their BTC portion is small percentage-wise (even now) and they do not seem stupid enough to cash out something that has a lot of potential for something that they do not need now.  Would you cash out a few percent of your portfolio if it had a huge appreciation potential and you didn't need it?

 

they're in this for the long haul. They understand if bitcoin is to succeed, it must get into the hands of as many people as they can, in a way only people like them can.

see:

Another issue is the total amount of bitcoins they control,  if they do not increase it,  and money keeps pouring in (and they allow for physical deliver as most ETF's do)  then you now will see bitcoins worth 100k each or more.  

Not only are they going to be 'selling their bitcoins' to the investors ,  they will be making money on the transactions for life for 'managing' the fund.

You think mining fees are outrageous,  these guys just made the most powerful ASIC miner in history.    Every single transaction on that fund they will be making a profit from.