What do the Winklevoss brothers believe? Bitcoin price forecast and the future of cryptocurrencies
While cryptanalysts are trying to predict the bitcoin exchange rate and other cryptocurrencies, the twin brothers Cameron and Tyler Winklevoss, known in the world of digital assets, held a session answering questions from users of the Reddit platform, where they expressed their opinion on the prospects of cryptocurrencies.
The Winklevoss brothers, co-founders of the cryptocurrency exchange Gemini, who first learned about bitcoin in 2012, saw great potential in it. Having bought $11 million worth of bitcoins (in 2013 that was about 1% of this cryptocurrency's volume), they became the world's first official bitcoin billionaires by December 2017.
Despite the drop in BTC from its peak of $20,000 to $3,000 to $4,000 or $4,000, Cameron and Tyler Winklevoss still believe that bitcoin is better than gold and remain one of the biggest investors in cryptocurrencies. Surely, not only crypto-enthusiasts, but also the most hardened skeptics should listen to their opinion.
How much will bitcoin be worth?
In response to this question, Tyler Winklevoss said that over time, despite all the problems with digital assets, their opinion on the continued growth of bitcoin's value remains unchanged.
The brothers firmly believe that bitcoin is much better than gold and, after a while, the capitalization BTC will be greater than the capitalization of gold.
What will be the cryptocurrency revolution?
The Winklevoss brothers believe that the cryptocurrency revolution is impossible without changing the Internet itself, which should be based on full openness and decentralization. Only in such an Internet will cryptocurrencies acquire the functions that are impossible for traditional money.
The brothers compare cryptocurrency in the new Internet to the work of e-mail, which functions 24/7/365. This will make it possible to send and receive payments to any addressee anywhere in the world almost free of charge and instantly. To better understand the analogy, the Winklevosses suggest imagining an email that only works Monday through Friday from 9 a.m. to 5 p.m., and some letters users will have to wait for 3-5 days.
When will bitcoin ETFs be approved?
According to Cameron, they are well aware of all the doubts and concerns of the U.S. Securities and Exchange Commission in terms of market oversight. Nevertheless, the brothers are not going to give up on the bitcoin-ETF project. In order to convince the SEC, the following measures are being taken:
- rules of conduct on the market for the regulation of relations have been developed and are in the process of being implemented;
- to monitor Gemini, the brothers have partnered with Nasdaq, making it possible to use their SMARTS technology to monitor the market;
- an internal team has been created to monitor the market in order to identify fraudulent transactions and market manipulation;
- a self-regulatory organization specializing in virtual commodity exchanges is in the process of creation.
https://mr-trader.com/inter/bitkoin-etf-i-sec-diskussiya-eshhe-vperedi
What is bitcoin best suited for - for exchange or accumulation?
Given the current properties of the flagship cryptocurrency, Tyler tends to consider bitcoin a good means of accumulation. At the same time, according to the brothers, this excludes the possibility of using it as a good means of exchange, which is similar to the situation with gold.
However, the Winklevosses do not consider this issue large enough to discuss. More important and urgent for the cryptocurrency sphere is the issue of decentralization.
How do they feel about the collapse in the value of cryptocurrencies?
The brothers don't see the fall in the cryptocurrency market in 2018 as any serious problem. Tyler, by way of example. bitcoin to dollar chart shows that from the very beginning the price of BTC moved only upwards. According to the brothers' statements, they are not interested in the short term, they believe in the long game and play the long game.
Why was Gemini Dollar created?
Gemini Dollar was created specifically to implement the U.S. dollar in the blockchain, and acts as a stabelcoin. It can be used for monetary transactions. However, its main purpose is not to compete with existing payment and banking systems, but to provide a new future.
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