The world's richest man tells bitcoin is cool! but people are still selling!

[cuddaloreappu]

http://www.bloomberg.com/video/bill-gates-bitcoin-is-exciting-because-it-s-cheap-dQ4qHV4~TLSnUIuIRfZBVA.html

and how do you decide to sell and make bitcoin go down 2% even after watching this!

What else more or who else is required to give you confidence?

YOU NEED GOD TO COME DOWN AND EXPLAIN HOW BITCOIN IS GOOD?

[BittBurger]

1)   Bill Gates says Bitcoin is cool, but you can also copy it and make your own.

2)  Intelligent Bitcoiners only notice the 2nd half of that sentence, and feel sad.

3)  General consumer public hears:  "Bitcoin is interesting.  Great.  I still have no reason to use it.  What else is on the news?"

4)  As general consumer public still has no incentive to use Bitcoin, BTC price doesn't change.

-B-

[franky1]

lol

seems the OP is glued to the crappy exchanges that only do small amounts of day trading and even smaller amounts of bank account movements, yet tries to make it sound like bitcoins true value and concept is dying.

hmmm.. ill leave him to research more

imagine 2 grassy fields.. one field full of many dozens of cows and the other field with only a couple sheep.. right now your looking at the sheep field and shouting that the meat industry is doomed (your looking in the wrong direction)

[Grand_Voyageur]

Please don't start duplicated threads about the same news when one already exist! Use the search box first!.

https://bitcointalk.org/index.php?topic=808358.0

To Admins & Mods: Can We merge the two threads in a single one?

[btckold24]

the bottom line is until btc can be obtained very easily - Easy fast ATM's  in all cities, it will never go mainstream and always stay volatile.

[chopstick]

Too bad bill gates is evil. He supports eugenics programs. Also,  his vaccination  foundation was in the village where ebola first broke out. Coincidence? I think not!

[toleng]

http://www.bloomberg.com/video/bill-gates-bitcoin-is-exciting-because-it-s-cheap-dQ4qHV4~TLSnUIuIRfZBVA.html

and how do you decide to sell and make bitcoin go down 2% even after watching this!

What else more or who else is required to give you confidence?

YOU NEED GOD TO COME DOWN AND EXPLAIN HOW BITCOIN IS GOOD?

There is natural supply from the miners so this selling pressure will likely not go away as a result of this news.

Also he is likely not actively buying bitcoin but rather is interested in the idea

[Itsumo]

Too bad bill gates is evil. He supports eugenics programs. Also,  his vaccination  foundation was in the village where ebola first broke out. Coincidence? I think not!

Hmmmm I smell something fishy here. Bill Gates wants some piece of bitcoin action huh.

[cryptonikus]

maybe people got scared of BTC because Bill Gates started to approve it. He is not very, popular around people that are following his politics. Only noobs thinks he is cool, because he is rich a gives money to charity LOL

[Beliathon]

Intelligent Bitcoiners only notice the 2nd half of that sentence, and feel sad.

Bitcoin's primary source of value is the magnitude of its network.

Just like Facebook and Verizon, this is not something that can be duplicated without a time-travel device. But I guess if we're going to pretend time doesn't exist, yes, you can "make your own".

But thanks for telling us what "intelligent bitcoiners" think, dipshit.

[R2D221]

Too bad bill gates is evil. He supports eugenics programs. Also,  his vaccination  foundation was in the village where ebola first broke out. Coincidence? I think not!

Correlation does NOT imply causation.

So, if you ask “Coincidence?”, I think yes!

[LiteCoinGuy]

out of fiat 

[galbros]

Yes, it would have been a lot more helpful if he had used some of his pocket change to buy 1 million USD worth of bitcoin and THEN said what a great deal it was.  Gates buying bitcoin would have been an awesome headline.

Oh well....

[RickDick]

So many logical fallacies...

[ofortuna]

If you're Bill Gates, everything is cheap.

[Prez]

I think bitcoin isn't truly needed and people get bored dealing with the frustrations that come along with it.

With that said I'm still holding a little for the "just in case" scenario.

[chopstick]

Too bad bill gates is evil. He supports eugenics programs. Also,  his vaccination  foundation was in the village where ebola first broke out. Coincidence? I think not!

Correlation does NOT imply causation.

So, if you ask “Coincidence?”, I think yes!

Bill Gates is a supporter of eugenics and population control for poor people, I don't think it's out of the question.

[Window2Wall]

Yes, it would have been a lot more helpful if he had used some of his pocket change to buy 1 million USD worth of bitcoin and THEN said what a great deal it was.  Gates buying bitcoin would have been an awesome headline.

Oh well....

Bill Gates's net worth is just under $80 billion. The market cap of bitcoin today is just under $8 billion and the majority of the bitcoin held is held by people who likely have no interest in selling.

The minimum that someone should invest in something is ~1% of your net worth, otherwise even excellent returns on such investment would do next to nothing to your overall investment performance. Gates would need to buy ~10% of the mined bitcoin which, due to the illiquid state of bitcoin markets would be very expensive (he would experience a lot of slippage) making it not worth it for him.

Him buying bitcoin even at the beginning of 2013 would make 0 sense for Gates because he would need to buy more then all of the bitcoin mined at the time (based on the then current market cap of bitcoin) in order to buy 1% worth of his net worth of bitcoin.

The only situation that I can see Gates buying bitcoin would be if he were to buy Satachi's bitcoin when he decides to sell

[R2D221]

Bill Gates is a supporter of eugenics and population control for poor people, I don't think it's out of the question.

Yes, but for such a claim you need proof, and we (should) assume everyone is innocent unless proven otherwise.

[mczarnek]

Actually what he said is that digital money is the future but it's not going to be future of money because it protects consumers identities too much.. or rather has too many privacy features built in.