Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Goodcat49 on May 10, 2018, 06:31:06 PM
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Bill Gates had claimed on a talk program arranged by CNBC that he would bet against bitcoin if he could. The co-founder of a crypto exchange, Tyler Winklevoss, responded to that statement on Twitter, explaining what Microsoft’s co-founder could do to short bitcoin.
"As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment," Gates said on CNBC's "Squawk Box" on Monday.
"I agree I would short it if there was an easy way to do it," he added.
Tyler Winklevoss together with his twin brother Cameron, who are notoriously known for suing Facebook, invested $11 million in the new financial technology in April 2013, when the price of bitcoin was $120 per each crypto coin. Nowadays their bitcoin assets are estimated to be worth upward $834 million if they have sold no virtual coins since.
While dealing with futures, traders make a bet on what the price of an asset will be in several months. A trader gains money if he sells a futures contract before a decline in a digital currency price. Such way of trading to benefit from a price drop is called shorting.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/tyler-winklevoss-explains-how-to-short-bitcoin/
(https://coinidol.com/upload/resize_cache/iblock/4a8/900_900_1/4a8cdfd098e16bd60f365c1c77760bc6.jpg)
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I find it pretty ironic that the upcoming elite is teaching the old elite how things should be done, and that while they very well know how to use futures or options to short Bitcoin and basically the entire crypto market.
I hope the one leading the next interview with Bill Gates to remind him of how he can actually short Bitcoin, and actually pressure him to say something about it. I would love to see what Bill's response to that is.
I'm quite sure that within 10 years the wealthiest individuals are no longer the basic billionaires that kept ruling the top lists for years, but will consist of crypto multi billionaires as well. It's only a matter of time.
Not sure if Warren Buffett and Munger will ever get to see that happen. Maybe it's better for them not to.