Tuesday, December 17, 2013

Cameron Winklevoss: Bitcoin Might Hit $40,000 Per Coin

One half of the identical duo that Mark Zuckerberg took to the cleaners is out with a new comment on Bitcoin.

"Small bull case scenario for Bitcoin is a 400 billion USD dollar market cap, so 40,000 USD a coin, but I believe it could be much larger. When this will happen, if it happens, I don't know, but if it happens, it will probably happen much faster than anyone imagines," wrote Cameron Winklevoss on Reddit.

This is what I wrote about the twins in May:
I'm at the Bitcoin 2013 conference in San Jose, California. The Winklevoss twins spoke last night at the conference. They are major Bitcoin owners. They come across as pretty decent preppie guys. The type you wouldn't mind going to a baseball game with or having a drink with, but their presentation on why bitcoins are here to stay was unimpressive.

Their presentation, and I am not exaggerating, came down to this:

1.Gandhi said that first they ignore you, then they laugh at you, then they fight you, then you win, therefore Bitcoin will succeed.

2. There was a guy who thought the automobile would never replace the horse, therefore Bitcoin will succeed.

End of presentation.


  1. Slight diversion (which of course you don't have to post as a response here):

    Colorado Shooter “Opinionated Socialist” and “Keynesian”

  2. The depth and breadth of their presentation reminds me of PowerPoint consultants and marketing hacks whom I encountered when working in telecoms, first at a big carrier and later at small web hosting firm.

  3. None dare call it talking your book.

  4. Zuckerberg can take me to the cleaners anytime if I could get the settlement that the twins received. :)

  5. They may not be very articulate but their bitcoin investment is up about $60,000,000.00

  6. The latest iteration of snake oil salesmen. Both points of the presentation are seriously flawed.

    1. "Gandhi said that first they ignore you, then they laugh at you, then they fight you, then you win."

    Describing the stages of a winning strategy of nonviolent activism. There is no record of Gandhi saying this. A close variant of the quotation first appears in a 1918 US trade union address by Nicholas Klein.
    Source: Wikipedia

    2. "There was a guy who thought the automobile would never replace the horse."

    It hasn't. "The evolution of the horse occurred over a period of 50 million years, transforming the small, dog-sized, forest-dwelling Eohippus into the modern horse.
    Source: Wikipedia

    The horse will be here long after the automobile is all but forgotten say another 50 million years...