Bitcoin Billionaires: Who are the Winklevoss Twins ...

A question about wealth inequality in a bitcoin standard world.

We know today that there are (many?) people with vast sums of bitcoin. Some are public figures like the Winklevoss twins and Chamath, others are anonymous.
These folks in the upper echelons command a wealth of no less than several hundreds of thousands of bitcoin, each.
To be clear, I applaud them for seeing the opportunity early on, seizing it, and hodling.
But the question that sticks out to me, is this “healthy”? What do you think will be the pros and cons of this consequence? I understand that with a Pareto curve there must be wealth inequality, and I accept inequality for what it is. However, let’s assume that bitcoin becomes the world reserve currency in however many years and 1 single bitcoin holds value between 1 million to 10 million USD in equivalence to today’s purchasing power... is it insane that so much wealth is held by so few people?
It would make Bezos, Buffet, and Gates look like real small fries in comparison.
submitted by SpockSays to Bitcoin [link] [comments]

[ Bitcoin ] A question about wealth inequality in a bitcoin standard world.

Topic originally posted in Bitcoin by SpockSays [link]
We know today that there are (many?) people with vast sums of bitcoin. Some are public figures like the Winklevoss twins and Chamath, others are anonymous.
These folks in the upper echelons command a wealth of no less than several hundreds of thousands of bitcoin, each.
To be clear, I applaud them for seeing the opportunity early on, seizing it, and hodling.
But the question that sticks out to me, is this “healthy”? What do you think will be the pros and cons of this consequence? I understand that with a Pareto curve there must be wealth inequality, and I accept inequality for what it is. However, let’s assume that bitcoin becomes the world reserve currency in however many years and 1 single bitcoin holds value between 1 million to 10 million USD in equivalence to today’s purchasing power... is it insane that so much wealth is held by so few people?
It would make Bezos, Buffet, and Gates look like real small fries in comparison.
SpockSays your post has been copied because one or more comments in this topic have been removed. This copy will preserve unmoderated topic. If you would like to opt-out, please send a message using [this link].
[deleted comment]
submitted by anticensor_bot to u/anticensor_bot [link] [comments]

Quantitative Hardening, Gold With Wings, and Freedom Money (AudioVisual Bitcoin Art Collection)

Quantitative Hardening, Gold With Wings, and Freedom Money (AudioVisual Bitcoin Art Collection)

Quantitative Hardening, Gold With Wings & Freedom Money by Lucho Poletti
My AudioVisual Bitcoin Art Collection, a milestone release for my art career, drops today (Sep 3rd).
AudioVisual Bitcoin Art (Collection Preview) by Lucho Poletti
For the drop on Nifty Gateway, there will be a total of 6 different NFT's (non-fungible tokens) in the collection. For each of the 3 pieces, there will be one full-length (1/1 auction) and one shorter version of the "money shot" of each. All 6 tokens are in video format with audio tracks.

Details for each of the 6 NFT's:

1) Quantitative Hardening:
Full animation with audio effects (1:03) walking through the history of Bitcoin's Monetary policy with individual animations for the 4 key events: Bitcoin Genesis, First Halving, Second Halving, Third Halving.
https://preview.redd.it/uro7uqc9lxk51.png?width=1280&format=png&auto=webp&s=d72e8aa070a3158af89c505c75a273dd5908c56e
https://preview.redd.it/46bikiqclxk51.png?width=1642&format=png&auto=webp&s=c5a387d2ed0fff0b0d391bf35f355204d85c4500
https://preview.redd.it/tijhce5glxk51.png?width=1322&format=png&auto=webp&s=145869a4615a8c238c5c7bdf2209f32c63be7c52
https://preview.redd.it/34qf3sidlxk51.png?width=1674&format=png&auto=webp&s=cfbff94f4dcde49289d2e358b6eee60521a1c7f1
https://preview.redd.it/nupqh47yxuk51.png?width=2016&format=png&auto=webp&s=b0b14397ad1eec9f87be09336db37c4482c1e853
https://preview.redd.it/l0on7sk3lxk51.png?width=2128&format=png&auto=webp&s=5fce8a311085163bb6f109da98695a433a6a6ad0
Quantitative Hardening (Preview) by Lucho Poletti
Read the blog post on Quantitative Hardening for more info on this piece.
2) Gold With Wings:
Full animation with audio effects (1:37) focused on the narrative of bitcoin as a better version of gold with individual animations for 4 characteristics of money where Bitcoin Outshines Gold (with quotes and a tribute to each of the Winklevoss Twins): Verifiability, Portability, Divisibility, Scarcity.

https://preview.redd.it/lqit0u8plxk51.png?width=1680&format=png&auto=webp&s=0058c8838b982c8c39ea7abb520a343db56320bd
https://preview.redd.it/1dxbxy0qlxk51.png?width=1618&format=png&auto=webp&s=f71fbbbdd6f5b7a44f8c4914fc98e36c6286f5d3
https://preview.redd.it/jg83eg7olxk51.png?width=1756&format=png&auto=webp&s=596babc7292b6b818248620d7516c90cdf991538
https://preview.redd.it/9mdba68tlxk51.png?width=485&format=png&auto=webp&s=740ec26e03436fb18730bfcc961654d7c0759ab8

https://preview.redd.it/azfaadoaevk51.png?width=1698&format=png&auto=webp&s=e69e46e5ea647061d4e3a0f110e781a5aa318d62
https://preview.redd.it/snfpa6oaevk51.png?width=2088&format=png&auto=webp&s=612600b27dec08fd584d253692bbb97f4a9f6916
https://preview.redd.it/c728x5oaevk51.png?width=1126&format=png&auto=webp&s=f9d75e41f7653169680314d5f497b9ec5a7c4302
Gold With Wings (Preview) by Lucho Poletti
Read the blog post on Gold With Wings for more info on this piece.

3) Freedom Money:
Full animation with audio effects (1:35) focused on bitcoin as a fundamental freedom for society with individual animations for 4 fundamental freedoms and their relation to bitcoin and bitcoin's history: Freedom of Speech, Press, Religion, and Money
https://preview.redd.it/9d7v0uqvlxk51.png?width=611&format=png&auto=webp&s=be3cf18f2336776eee2e811322b00851d19f01df
https://preview.redd.it/0q5eaxnwlxk51.png?width=616&format=png&auto=webp&s=478ee583e8a8f4582657a0290556db903b14a386
https://preview.redd.it/tm0a4w2xlxk51.png?width=774&format=png&auto=webp&s=fdd2bf7c83745134ec64883648a0f775689624e3

https://preview.redd.it/n1sfkssxlxk51.png?width=726&format=png&auto=webp&s=845792b6f02b6b0561f4982deaf943641fce6c7e
https://preview.redd.it/h8dgjyf6mxk51.png?width=623&format=png&auto=webp&s=5fb2c708852161f6f8b39ad29cb62c8e584fbd69
https://preview.redd.it/5v57gk45mxk51.png?width=932&format=png&auto=webp&s=834bdcf700d33dc3dac7031005bbf24832cd6661
Freedom Money (Preview) by Lucho Poletti
Read the blog post on Freedom Money for more info on this piece.

Freedom Money \"Money Shot\" Animation

Why did I title my milestone collection "AudioVisual Bitcoin Art"?

I will set the tone for my explanation here, with Merriam Webster's definition of "audiovisual": Definition of Audiovisual: designed to aid in learning or teaching by making use of both hearing and sight.
Since embarking on this mission to educate the masses about bitcoin using visual art, I have contemplated long and hard about how best to impact people with combinations of images and words.
I've studied the words and practices of experts in social psychology and propaganda from the likes of Gustave Le Bon, Edward Bernays, Friedrich Nietzsche, and others.
The voice of Gustave Le Bon, particularly seems to always ring in my head as I take particular creative decisions, at times when questioning whether or not a certain image may resonate with "the crowd"
"The imagination of the crowds … is impressed above all by images. … It is possible to evoke them through the judicious use of words and formulas*."*
So here is my formula:
3 pieces of art using the same structure, each with their own narrative, to propagate the base idea "bitcoin is better money" with different groups of people: 1) The fundamental/economically focused, 2) The risk averse/wealthy, and 3) individuals who highly value freedom.
4 key points for each of those narratives, animated with full audio tracks to create a more immersive viewing experience.
Repetition and Reinforcement of the over-arching phrases and easy-to-understand aspects of the entire message for each.
All 3 pieces will also be released on collector's edition prints via www.luchopoletti.com.
Each print will offer the audiovisual experience of the animation in an augmented reality layer via the artivive app.
submitted by HODL_CRYPTO to Bitcoin [link] [comments]

Bitcoin or Gold: Which Is More Bigly Yuge To Own?

Note: Ryan Wilday and I just co-wrote this crypto article, and we thought you may find it interesting.
Recently, the Winklevoss twins (who founded the Gemini crypto exchange) coined Bitcoin as ‘Gold 2.0.’ To support their perspective, they cited Bitcoin’s scarcity, its fungibility and its portability as meeting or exceeding that of the yellow metal.
Greyscale Investments, the company that has brought crypto based trusts to the US OTC market, recently ran ads urging investors to drop gold as a relic of the past in favor of cryptocurrency, which is ‘secure’, borderless, and in their direct words, ‘actually has utility’.
It seems that there are more and more comparisons between Bitcoin and gold, but is one better to hold more so than the other? Well, to be honest, each has a different ultimate purpose for which each is better suited.
With gold and crypto starting to launch on their next bull run, we thought it would be fun to explore these questions. At the end of the day, we find each asset worth owning. And, for the libertarian minded, both assets provide “insurance” from inflationary fiat and the centralized banking system. Yet, each asset has their die-hard investors who view each asset as “the” asset to own, while they simultaneously look down at the other camp.
For example, ‘gold bug’s’ such as Peter Schiff decry Bitcoin as ‘not viable as money’, ‘not a store of value’, and ‘fool’s gold’. And, Bitcoin fans simply consider gold a cumbersome hunk of metal with a value based on tradition rather than utility.
As far as we are concerned, each camp has a point, which is why we feel that one should diversify into both asset classes for the same types of protections. You see, gold and bitcoin share values which are sought after by both groups of investors: separation from the centralized financial system, scarcity, security, portability, and fungibility. However, whereas Bitcoin may better serve investors with certain of these benefits, gold will serve investors better with others.
Separation from the System
In regards to separation from the centralized finance system of the world, Bitcoin and Gold are comparable. Both assets allow the holder to remain in control of their holdings, effectively becoming the bank for themselves. In that regard, holding either asset removes counterparty risk. Moreover, both allow for exchange between parties without intermediaries. And, finally, both are immune from the inflationary efforts of central banks.
Scarcity
All the gold ever mined is estimated at 190,000 tonnes and there is expected to be 54,000 tonnes in the ground. The current supply of Bitcoin is approaching 18 million and will never exceed 21 million. Furthermore, untold numbers of bitcoin are lost due to misplaced keys. Therefore, it is quite clear that both assets are scarce and finite, though one could certainly argue that Bitcoin is more so.
Security
The holders of both assets need to pay attention to security. For the gold holder, of course, security involves keeping gold away from prying hands. However, storage does become an issue the larger the holding, and involves additional costs. So, clearly, this is certainly one of the drawbacks of holding gold.
Yet, theft of cryptocurrency has been one of the biggest deterrents from adoption of crypto as a common asset class. Yet, with appropriate cyber security protections, one can keep their crypto secure. Given that it is not held in a physical location, there are no additional costs of storage. Moreover, as long as one doesn’t expose how they maintain their private keys, one is unlikely to experience a physical robbery attempt. (We created a quick document on crypto security here).
However, the Achilles heel of Bitcoin is that it requires the internet and electric grids to run properly. Should electricity become compromised for whatever the reason, I think it would be clear to understand how gold would become the more desirable of the two assets in this event.
Portability
I don’t think there is much of a question that Bitcoin wins hands down with respect to portability. Bitcoin is weightless and gold is over 19 grams per cubic centimeter. This is why so many Venezuelans reportedly ran to Bitcon to take capital out of the country. Doing so with gold is nearly impossible during such times of crisis.
Fungibility
Bitcoin and Gold are both fungible. However, Bitcoin is much more easily divided into smaller units down to 8 decimal places. At current price, one could theoretically exchange Bitcoin worth 1 /100 of a cent. Try doing that with gold. Since units of gold generally need to be rated for investment level purity, it is quite hard to exchange less than a 1/10th ounce of gold, or roughly $140 at today’s price.
Conclusion
Perhaps gold and crypto investors can find some common ground, as they each have similar benefits. The benefits that have traditionally led gold investors to hoard the yellow metal are not too different from those driving today’s Bitcoin buyers. Nonetheless, as we’ve shared, both are expected to embark on their next bull run. And, a disadvantage to owning one asset is often an advantage of owning other. Therefore, we believe both deserve a place in your portfolio for at least insurance purposes.
submitted by avigilburt to StockMarket [link] [comments]

ARCHIVE: I Am A Time Traveler From The Future, Here To Beg You To Stop What You Are Doing

the original post was just deleted a few minutes ago. (it was deleted around 7:45pm EST on March 8, 2019)

Wanted to be sure the original text was still visible. I copied / pasted this from the Internet Wayback Machine. Snapshot pasted below is from 9/11/2018: https://web.archive.org/web/20180911055950/https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

Original Post from u/Luka_Magnotta

I am a time-traveler from the future, here to beg you to stop what you are doing.

I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
submitted by Kinolva to Bitcoin [link] [comments]

A letter from the future about Bitcoin.

Well gee, this blew up.
Bitcoin should not be treated as an investment, it should be recognized as a speculative negative-sum game. The Bitcoin system currently consumes an estimated 3.6 billion dollar worth of electricity on an annualized basis, just to update the ledger that contains a record of everyone's transactions. This enormous consumption of electricity is indirectly paid for by people who invest their savings in Bitcoin, as a consequence, money is continually "leaking" from the system.
As a Bitcoin investor, you're paying for Chinese businesses to waste electricity by solving an abstract math problem that is designed to get continually more difficult. Besides ensuring that many people lose vast sums of money while a small minority of early adapters is enriched, Bitcoin causes tremendous ecological damage in an era when we should be focusing as a society on reducing our carbon emissions.
The Bitcoin developers responsible for updating the protocol appear to have no genuine intention to introduce code changes that reduce the ecological damage caused by Bitcoin mining, so my suggestion has to be to sell your Bitcoins, which indirectly has the effect of reducing the ecological damage caused by Bitcoin mining.
Theft and loss of coins are also enormous problems affecting Bitcoin, so although it is theoretically possible to store your coins in a safe manner, history has shown that a lot of people will simply lose their coins, further illustrating why Bitcoin is not a good investment option.
The other cryptocurrencies share most of Bitcoin's flaws (resource waste, no protection against theft or loss, vulnerable to market manipulation, etc), but most importantly, what sets cryptocurrencies apart from proper investments is that these coins don't produce anything. If you invest in a company, that company can use the money to deliver more products. If you buy, silver, gold, bitcoin or beanie babies, you're hoping someone else will come along one day and pay more money for it. History has shown that people who invest money in the stock market will generally end up witnessing much higher returns than people who buy gold.
With that said, I hope this story has entertained you and helped you recognize some of the problems our society would face if we ever witnessed widespread adaption of Bitcoin or similar digital currencies.
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
More: https://www.youtube.com/watch?v=SgrUEHe7CZY&t=3s
submitted by chapikla to u/chapikla [link] [comments]

Top 10 Richest People in the World, in Bitcoin

Bitcoin has been given the nickname “digital gold”. This is because of its characteristic as a store of wealth. Many big investors are resorting to Bitcoin as a good place to put their money. The reason for this is not just because it can be sustained, but also because of the high tendency of appreciation in value. Here we shall be considering the top 10 richest people in the world, in Bitcoin.
We will take a look at their net worth, and how much that amounts to in Bitcoin. We will also consider their primary business and a little bit of their history. How they started out in the Bitcoin ecosystem and what they have achieved so far will also enable us to understand more about them.
So, here is a list of the top 10 richest people in the world, in Bitcoin.
10. Matthew Roszark
Matthew Roszark is the founder of Tally Capital, and co-founder of Bloq. Roszark is widely known as the man who gave Richard Branson and Bill Clinton their first Bitcoins. Roszark made it early into the Bitcoin space and participated in the very first ICO in 2013. Although that wasn’t what it was called at the time.
Roszark has investments in 20 startups in the cryptocurrency ecosystem, some of which have gone ahead to do great things. Some of the startups that he invested in include Coinbase, Kraken and BTCC.
Roszark’s net worth is $1 billion, which amounts to 102,712.94 BTC (at the time of writing).
  1. Anthony Di Iorio
Anthony Di lorio is the founder of Jaxx and Decentral, and co-founder at Ethereum. Having studied a bit of economics and trying to find out the true essence of money after the recession of early 2000, Di lorio discovered Bitcoin and decided to explore. He started a Toronto Bitcoin-meetup, where he met his eventual co-founder of Ethereum, Vitalik Buterin.
Di lorio contributed his personal funds towards the coding of Ethereum, and has since been involved in a number of other crypto assets. Some of them include Qtum, VeChain and ZCash.
Di lorio is a serial investor who commits to projects at an early stage, then after levelling up, he pulls his funds and moves on to something new. His net worth of $1 billion is the equivalent of 102,712.93 BTC.
  1. Michael Novogratz
This CEO of Galaxy Digital is also popular in the field of macro hedge fund management. Novogratz started investing in cryptocurrencies in 2013 and two years later he left his position at Fortress Investment Group to focus on crypto.
In the cryptocurrency industry, Novogratz is known as a seasoned trader who believes that the crypto market as it is today is a bubble. According to him, his aim is to make as much money as possible from the bubble before it bursts.
Novogratz is worth $1 billion which is the equivalent of 102,712.92 BTC
  1. Cameron and Tyler Winklevoss
The Winklevoss twins arrived in the face of the public through the controversial law suit against Facebook for intellectual property theft. They eventually won the case and were paid $11 million in compensation.
With many Silicon Valley startups not wanting to get into Facebook’s black book, the twins seemed to not have where to invest their money. They were introduced to Bitcoin by Brooklyn-based investor David Azar in 2012, and found their new investment ecosystem.
Over the years, the astronomic rise in Bitcoin price has turned their $11 million investment to a $1 billion portfolio of 102,712.91 BTC.
  1. Matthew Mellon
Matthew Mellon’s money started as old money which he inherited from family sources. However, through his “crazy” investment approach, he has been able to build a fortune out of his family inheritance.
Having bought into Bitcoin some years ago, Mellon abandoned his early investments and sold his Bitcoins at some point. His attachment with the banking industry and the XRP feasibility attracted him to the coin.
Mellon spent $2 million to acquire XRP tokens a few years back. That investment has grown to $1 billion, in the equivalence of 102,712.90 BTC.
  1. Zhao Chaopeng
Zhao Chaopeng popularly known as CZ, is the founder of cryptocurrency exchange, Binance. Within one year of its launch, Binance became the largest cryptocurrency exchange in terms of volume.
The platform’s tokens were sold at a price of 10 cents during its ICO. At the time of writing, the price of the coin has risen to over $27 and CZ owns a huge volume of the coins.
In 2014, CZ sold his house in Shanghai, which was practically all he had, to go all out into Bitcoin. Today, his net worth is $1.3 billion, which is equivalent to 133,523.65 BTC.
  1. Brian Armstrong
Brian Armstrong is the CEO of Coinbase, the largest cryptocurrency exchange in America. Coinbase was founded in 2012, and is the most patronized cryptocurrency exchange in the US. The exchange has also expanded, and is now available in many countries of the world.
In 2018, the exchange embarked on a financing round that saw it raise $300 million, and the company is now valued at $8 billion.
Armstrong’s net worth stands at $1.3 billion, with equates to 133,523.64 BTC.
  1. Jihan Wu
Johan Wu is the co-founder of Bitmain, a China-based Bitcoin mining giant. Together with Micree Zhan Ketuan, they have grown Bitmain to become a household name in the industry, and the main supplier of ASIC-chip miners. Wu is also popular for his open support of Bitcoin Cash.
Wu is estimated to be worth up to $1.5 billion, which translates in Bitcoin to 154,065.75 BTC.
  1. Chris Larsen
Chris Larsen is the co-founder of Ripple, a company which was founded in 2012 with Jed McCaleb, the founder of Mt Gox.
Larsen is regarded as a self-made billionaire, with the bulk of his wealth coming from cryptocurrency enterprises. Ripple boasts many top end customers in its portfolio. Among the list includes Bank of America, Santander and Mitsubishi Financial.
Larsen’s net worth is estimated at $1.5 billion, which is equivalent to 154,065.74 BTC.
  1. Micree Zhan Ketuan
Zhan is the co-founder of Bitmain technologies. Bitmain is regarded as the biggest Bitcoin mining company in China. The company is also known to specialize in the sale of ASIC-chip miners.
Zhan is an electrical engineer by training and is the builder of the ASIC chips on the Bitmain hardware. He is an acclaimed self-made billionaire whose source of wealth is the manufacturing and sales of cryptocurrency mining chips.
Zhan’s net worth is estimated at $2.7 billion, which when converted to Bitcoin is 215,692.05 BTC.
Conclusion
The dominant investment industry concept is evolutionary. At different eras of existence, different industries have produced different money magnates. Serial investors at the same time have found ways of aligning with the prevailing markets as the times change.
With the advent of Bitcoin and blockchain technology, the digital assets ecosystem appears to be making a strong statement in the wealth sector. The number of self made billionaires within this sector is a testimony to the impact of this concept in today’s world.
The top 10 richest people in the world, in Bitcoin, parades some names that can stand side-by-side with money magnates of traditional industries. With more developments likely to emerge in the crypto ecosystem, it will not be surprising to see the number of crypto-made billionaire skyrocket in the near future.
https://medium.com/@4kingsocials/top-10-richest-people-in-the-world-in-bitcoin-94183268189b
submitted by OliAustin101 to CryptoNewsandTalk [link] [comments]

Who is the richest Bitcoin owner?

Technically, Bitcoin was worth less than 10 cents per bitcoin upon its inception in 2009. The cryptocurrency has risen steadily since then and is now worth around $6000 per Bitcoin. This is the most remarkable appreciation of the value and has created many millionaires over the last eight years.
Here are the top ten people/institutions that held a large amount of Bitcoins over time:
1. Satoshi Nakamoto
The creator of Bitcoin, who hides behind the moniker Satoshi Nakamoto, remains the major holder of bitcoins. The number of bitcoins that Nakamoto owns today is estimated at around 1.1 million, based on the early mining that he did. This is the equivalent of about $6 billion at today’s exchange rate of 1BTC to 6,098 USD. At least Nakamoto has never touched most of his bitcoins, and neither converted them into real-world currencies nor used them for any other purpose. If he were to sell his entire stash, the value of Bitcoin could plummet in an instant.
2. Bulgaria
Bulgaria is currently sitting on one of the biggest stashes of Bitcoin in the world. How did the European nation come into the possession of this enormous sum of money? A crackdown on organized crime by the Bulgarian law enforcement in May 2017 resulted in the seizure of a stash of 213,519 Bitcoins, enough to pay off a quarter of the country’s national debt.
According to Bulgarian authorities, the criminals used their technical prowess to circumvent taxes. As of June 2018, the virtual coins would be worth more than $1.2 billion. The Bulgarian government has declined to comment on the status of the coins.
3. BitFinex
BitFinex, a crypto exchange, has one of the largest bitcoin wallets with 163,133.38 BTC that are worth approximately $1 billion at the current price of $6,098.24 per bitcoin. The coins are believed to be kept in a cold wallet to protect them from cyber hacks, unauthorized access and other vulnerabilities that a system connected to the internet is prone to.
4. The FBI
The FBI is one of the largest renowned holders of Bitcoin. In September 2013, they brought down Silk Road, the infamous dark web drug bazaar, and seized 144,000 Bitcoin owned by the site’s operator Ross Ulbricht, better known as, “Dread Pirate Roberts”. Ulbricht made critical blunders that allowed investigators to locate the site and link him to it. Users of Silk Road are said to have traded around 9.5 million bitcoins since Ulbricht launched the site in 2011. Even thought the FBI sold a large amount of their Bitcoin holdings or even all, the FBI worth mentioned as they had a fortune in Bitcoin at some point. A large portion of the Bitcoins seized and sold went to Barry Silbert.
5. The Winklevoss Twins
Tyler Winklevoss and Cameron Winklevoss were among the first Bitcoin billionaires. The duo had first gained popularity when they sued the Facebook C.E.O. Mark Zuckerberg for allegedly stealing the idea of creating Facebook from them. They were contacted by Zuckerberg to develop the ConnectU site, which was to become Facebook later on.
They used $11 million of the $65 million cash compensation they received from the legal dispute with Zuckerberg to purchase 1.5 million Bitcoins in 2013. Back then, one Bitcoin traded at $120. That investment has increased more than 20000% since then.
The twins allegedly own around 1 percent of all Bitcoin in circulation. Their combined net worth is approximately 400 million. They created the Windex, funded several bitcoin-related ventures and invested $1.5 million in BitInstant.
6. Garvin Andresen
Although bitcoin is the brainchild of Satoshi Nakamoto, Garvin Andresen is credited as the person who made it what it is today. Garvin is one of the people who has been suspected to be Satoshi, a claim he denies. Rather, he says that he had a close relationship with the anonymous cryptographer for many years. The real Satoshi Nakamoto picked him as his successor in late 2010. Garvin became the chief developer of the open source code that determines how Bitcoin operates – and whether it can survive. He was once paid over $200,000 in Bitcoin by the Bitcoin Foundation for his contributions. He had already cashed out multiple times.
7. Roger Ver
Roger Ver, otherwise known as Bitcoin Jesus, is one of the first Bitcoin billionaires and believed to hold or held at least 100,000 bitcoins. The renowned libertarian allegedly dropped out of college to focus on his bitcoin-related projects. Unlike other crypto billionaires out there who are throwing their cash in the typical private Islands or luxury jets, Ver’s dream is to establish his own libertarian nation where every individual is the absolute owner of their own life and are free to do whatever they wish with their person or property. The controversial bitcoin evangelist renounced his U.S. citizenship in 2014 and relocated permanently to a small Caribbean Island.
8. Barry Silbert
Silbert is a venture capitalist and founder of Digital Currency Group. He was an early adopter of Bitcoin. He purportedly walked away with an eye-watering 48,000 Bitcoins in an auction held by the U.S. Marshals Service in 2014. The US government had confiscated much of the crypto coins from Ross Ulbricht, the alleged operator of the dark web marketplace for drugs and other illegal products. Bitcoin was then worth $350, which means Silbert’s coins have skyrocketed in value from $16.8 million to $288 million.
9. Charlie Shrem
Charlie Shrem is no doubt one of the most controversial Bitcoin millionaires. He invested in a large quantity of Bitcoin in the early days of the cryptocurrency. Shrem was also an active member of the Bitcoin Foundation and founded BitInstant when he was just 22 years old. By the end of December 2014, Shrem had been found guilty of money laundering and received a two-year prison sentence. After his release from federal custody, he unveiled a startup called Intellisys Capital, a company that sells investment portfolios in blockchain companies.
10. Tony Gallippi
A famous business magnate Tony Gallippi is also believed to be one of the big holders of bitcoins. He is the brain behind BitPay, one of the most popular Bitcoin payment service providers in the world. The company was launched in May 2011 and processes over one million dollars per day. Bitpay is also one of the companies to sign contracts with major companies including Microsoft, Dell, TigerDirect, and Newegg. By 2014, the company had employed approximately 100 people.
Conclusion
It is estimated that the top 1000 bitcoin addresses own approximately 35% of the total bitcoin in circulation. There are also thousands of individuals who hold large stashes of bitcoin but have chosen to remain anonymous.
submitted by alifkhalil469 to BtcNewz [link] [comments]

r/Bitcoin recap - September 2018

Hi Bitcoiners!
I’m back with the 21st monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in September 2018
submitted by SamWouters to Bitcoin [link] [comments]

6 Cognitive Biases Aiding Bitcoin's Adoption

Six cognitive biases are aiding Bitcoin's global adoption:

Let’s explore each of them.

Lindy rule: The longer an idea has been around without being falsified, the longer its future life expectancy.
The longer Bitcoin exists, the longer it is likely to continue to exist. Economist and author Nouriel Roubini calls this the "Lindy rule", which applies to books, technologies, and ideas. Bitcoin has existed for 10 years. Every day it exists, every day it is more likely to keep existing. And the longer it exists, the more likely it is to be valued as a reliable store of wealth.
Availability cascade: The more people hear about something, the more likely people believe it to be true.
Bitcoin's word of mouth is remarkable. Blowhards like Anthony Pompliano and the Winklevoss twins are preaching Bitcoin's story on Twitter, CNBC, and CNN. The more often people hear about Bitcoin's potential, the more they believe it to be true. This is called the Availability cascade. You hear about something a lot so you start to believe it.
Donald Trump knows this, which is why he repeats the same points over and over and over and over and over again. The same principle applies to local news -- if you watch reports about local murders and fires every night, you’re likely to believe we live in an unsafe world (even though that is not the case statistically).
FOMO: Fear of missing out.
Each bull run creates a new crop of wealthy individuals, who make way too much money and catalyze the next wave of word of mouth. Our society is infatuated with get rich quick stories like lottery jackpot winners. In the future, I imagine local news stories about neighborhood "Bitcoin millionaires!" who will make their whole community jealous enough that they too decide to buy into Bitcoin. Sadly, I think this aspect of Bitcoin brings out the worst in people. Money, money, money. It kills culture.
While this phenomena is local in nature, Bitcoin's reach is global. Anyone in the world can buy it. The total addressable market size is literally planet earth. Someone in Caracas can buy it. So can someone in East Hampton. That makes for a gigantic market opportunity that is still barely tapped.
Endowment effect: Caring more about things that you own.
As FOMO grows, access to acquiring Bitcoin is becoming easier. There are hundreds (or thousands?) of companies building products in the ecosystem. With Coinbase or Square Cash, it literally takes 3 clicks to buy Bitcoin. It's almost too easy to buy it.
Other onramps exist too. With Lolli, you earn Bitcoin when shopping. I wouldn't be surprised if we see more cryptogaming companies like Satoshi Games creating the next Candy Crush, but rewarding players with Bitcoin.
And when you own it, you're more incentivized to root for it. That's the Endowment effect. In a famous study by Daniel Kahneman, participants who are given a coffee mug will sell it for $7. Participants who are offered to buy a mug only offer $3. People value things they already own more than things they don’t own. The moment you own some Bitcoin, start to think it’s worth more than others who don’t own it.
Anchoring: When you are influenced by an initial piece of information that anchors your decision making.
Bitcoin maximalists talk about the price going "to the moon". For some, that means $100K price target by 2021 (10x what it is today). To others, it's $1 million. While these prices are merely predictions, the public's beliefs have already been anchored to an astronomical future price of the cryptocurrency.
And what’s the thinking behind those predictions? Gold's market cap is $7 trillion; Bitcoin's market cap is $300Bn. The logic is that when Bitcoin becomes accepted as "digital gold" and a digital store of wealth, it's market cap will enter the stratosphere of gold’s market cap. So gold, really, is the anchor.
Social proof: If other people are doing it (or saying it), it must be correct.
The smartest money in the world is invested in Bitcoin. Andreessen Horowitz has a dedicated crypto fund. Square has a crypto division. Peter Thiel and Naval Ravikant were early investors. The social proof has been growing, creating the feeling that you're investing alongside the greats.

So...what's the biggest risk to Bitcoin’s adoption?

They're not rooted in psychological biases, but worth mentioning what I see as two risks:
1) Governments will try to squash it. Bitcoin threatens fiat currency if citizens can pay for things "outside the system". Some countries will ban it.. This, to me, is the existential risk: If the countries around the world decide that internet money independent of national governments and central banks is illegal.
On the flipside, we'll probably see other weaker governments embrace Bitcoin and other cryptocurrencies. Maybe even ditch their own weak currency in favor of a globally valued Bitcoin. So perhaps Bitcoin will be legal tender in some countries and illegal in others.
2) Who the fudge is Satoshi? It's mind boggling that millions of people have adopted a currency created by a mysterious identity. That's some biblical shit right there. What if Satoshi has the master code and shuts it all down one day? I get it, the blockchain is immutable. But I'm still uncomfortable with his lack of identify. Show your face!

So where do we go from here?

At times, it feels like this is all an experiment that very well could fail.
Other times, it feels like we’re in very first stage of a century-long transition to digital currency. There’s too much excitement too soon.
But lately, bitcoin’s adoption feels inevitable. It has momentum, brain power, money, a passionate community, and a bunch of cognitive biases willing it into existence.
We'll probably look back on this period the same way we look at buying up domain names 20 years ago. It will look obvious in hindsight. Another bias.

See original post here: https://cofounder.substack.com/p/-human-psychology-is-pumping-bitcoin
submitted by kubeans to btc [link] [comments]

Top 10 Richest People in the World, in Bitcoin

Bitcoin has been given the nickname “digital gold”. This is because of its characteristic as a store of wealth. Many big investors are resorting to Bitcoin as a good place to put their money. The reason for this is not just because it can be sustained, but also because of the high tendency of appreciation in value. Here we shall be considering the top 10 richest people in the world, in Bitcoin.
We will take a look at their net worth, and how much that amounts to in Bitcoin. We will also consider their primary business and a little bit of their history. How they started out in the Bitcoin ecosystem and what they have achieved so far will also enable us to understand more about them.
So, here is a list of the top 10 richest people in the world, in Bitcoin.
10. Matthew Roszark
Matthew Roszark is the founder of Tally Capital, and co-founder of Bloq. Roszark is widely known as the man who gave Richard Branson and Bill Clinton their first Bitcoins. Roszark made it early into the Bitcoin space and participated in the very first ICO in 2013. Although that wasn’t what it was called at the time.
Roszark has investments in 20 startups in the cryptocurrency ecosystem, some of which have gone ahead to do great things. Some of the startups that he invested in include Coinbase, Kraken and BTCC.
Roszark’s net worth is $1 billion, which amounts to 102,712.94 BTC (at the time of writing).
  1. Anthony Di Iorio
Anthony Di lorio is the founder of Jaxx and Decentral, and co-founder at Ethereum. Having studied a bit of economics and trying to find out the true essence of money after the recession of early 2000, Di lorio discovered Bitcoin and decided to explore. He started a Toronto Bitcoin-meetup, where he met his eventual co-founder of Ethereum, Vitalik Buterin.
Di lorio contributed his personal funds towards the coding of Ethereum, and has since been involved in a number of other crypto assets. Some of them include Qtum, VeChain and ZCash.
Di lorio is a serial investor who commits to projects at an early stage, then after levelling up, he pulls his funds and moves on to something new. His net worth of $1 billion is the equivalent of 102,712.93 BTC.
  1. Michael Novogratz
This CEO of Galaxy Digital is also popular in the field of macro hedge fund management. Novogratz started investing in cryptocurrencies in 2013 and two years later he left his position at Fortress Investment Group to focus on crypto.
In the cryptocurrency industry, Novogratz is known as a seasoned trader who believes that the crypto market as it is today is a bubble. According to him, his aim is to make as much money as possible from the bubble before it bursts.
Novogratz is worth $1 billion which is the equivalent of 102,712.92 BTC
  1. Cameron and Tyler Winklevoss
The Winklevoss twins arrived in the face of the public through the controversial law suit against Facebook for intellectual property theft. They eventually won the case and were paid $11 million in compensation.
With many Silicon Valley startups not wanting to get into Facebook’s black book, the twins seemed to not have where to invest their money. They were introduced to Bitcoin by Brooklyn-based investor David Azar in 2012, and found their new investment ecosystem.
Over the years, the astronomic rise in Bitcoin price has turned their $11 million investment to a $1 billion portfolio of 102,712.91 BTC.
  1. Matthew Mellon
Matthew Mellon’s money started as old money which he inherited from family sources. However, through his “crazy” investment approach, he has been able to build a fortune out of his family inheritance.
Having bought into Bitcoin some years ago, Mellon abandoned his early investments and sold his Bitcoins at some point. His attachment with the banking industry and the XRP feasibility attracted him to the coin.
Mellon spent $2 million to acquire XRP tokens a few years back. That investment has grown to $1 billion, in the equivalence of 102,712.90 BTC.
  1. Zhao Chaopeng
Zhao Chaopeng popularly known as CZ, is the founder of cryptocurrency exchange, Binance. Within one year of its launch, Binance became the largest cryptocurrency exchange in terms of volume.
The platform’s tokens were sold at a price of 10 cents during its ICO. At the time of writing, the price of the coin has risen to over $27 and CZ owns a huge volume of the coins.
In 2014, CZ sold his house in Shanghai, which was practically all he had, to go all out into Bitcoin. Today, his net worth is $1.3 billion, which is equivalent to 133,523.65 BTC.
  1. Brian Armstrong
Brian Armstrong is the CEO of Coinbase, the largest cryptocurrency exchange in America. Coinbase was founded in 2012, and is the most patronized cryptocurrency exchange in the US. The exchange has also expanded, and is now available in many countries of the world.
In 2018, the exchange embarked on a financing round that saw it raise $300 million, and the company is now valued at $8 billion.
Armstrong’s net worth stands at $1.3 billion, with equates to 133,523.64 BTC.
  1. Jihan Wu
Johan Wu is the co-founder of Bitmain, a China-based Bitcoin mining giant. Together with Micree Zhan Ketuan, they have grown Bitmain to become a household name in the industry, and the main supplier of ASIC-chip miners. Wu is also popular for his open support of Bitcoin Cash.
Wu is estimated to be worth up to $1.5 billion, which translates in Bitcoin to 154,065.75 BTC.
  1. Chris Larsen
Chris Larsen is the co-founder of Ripple, a company which was founded in 2012 with Jed McCaleb, the founder of Mt Gox.
Larsen is regarded as a self-made billionaire, with the bulk of his wealth coming from cryptocurrency enterprises. Ripple boasts many top end customers in its portfolio. Among the list includes Bank of America, Santander and Mitsubishi Financial.
Larsen’s net worth is estimated at $1.5 billion, which is equivalent to 154,065.74 BTC.
  1. Micree Zhan Ketuan
Zhan is the co-founder of Bitmain technologies. Bitmain is regarded as the biggest Bitcoin mining company in China. The company is also known to specialize in the sale of ASIC-chip miners.
Zhan is an electrical engineer by training and is the builder of the ASIC chips on the Bitmain hardware. He is an acclaimed self-made billionaire whose source of wealth is the manufacturing and sales of cryptocurrency mining chips.
Zhan’s net worth is estimated at $2.7 billion, which when converted to Bitcoin is 215,692.05 BTC.
Conclusion
The dominant investment industry concept is evolutionary. At different eras of existence, different industries have produced different money magnates. Serial investors at the same time have found ways of aligning with the prevailing markets as the times change.
With the advent of Bitcoin and blockchain technology, the digital assets ecosystem appears to be making a strong statement in the wealth sector. The number of self made billionaires within this sector is a testimony to the impact of this concept in today’s world.
The top 10 richest people in the world, in Bitcoin, parades some names that can stand side-by-side with money magnates of traditional industries. With more developments likely to emerge in the crypto ecosystem, it will not be surprising to see the number of crypto-made billionaire skyrocket in the near future.
https://medium.com/@4kingsocials/top-10-richest-people-in-the-world-in-bitcoin-94183268189b
submitted by OliAustin101 to CryptocurrencyToday [link] [comments]

What is a Crypto Whale?

What is a Crypto Whale?

https://preview.redd.it/jv9oy1vzeri31.jpg?width=760&format=pjpg&auto=webp&s=e85ca2df1302612693702df0288290361195f86e
Crypto Whales. Yes, you read that correctly. You might be wondering what a crypto whale is…
A crypto whale is a colloquial term used to describe “large market players” in the cryptocurrency markets. If you imagine the analogy of the ocean, and we’re all happily swimming around. As an average Joe investor, we only have small sums of money available to us, and we’d be considered the “little fish” investors.
Whereas Crypto Whales are individuals or institutions with large sums/volumes of crypto assets. A Crypto Whale may hold large volumes of multiple cryptocurrencies or only a single cryptocurrency. You can, therefore, have Bitcoin Whales, Ethereum Whales, XRP Whales, EOS Whales, Litecoin Whales, Cardano Whales, Bitcoin Cash Whales, etc.
The oceanic analogy is appropriate as people talk about market waves and refer to small market rallies as feeding frenzies etc.
They are so-called Crypto Whales because if/when they sell a large amount of cryptocurrency it can cause a sudden drop in price as the relatively illiquid market cannot absorb such large sell orders, especially in a bear market. This can create a dip in the market charts, or a “wave” in the market, just as real whales make waves when they jump above the surface. Both illustratively in the cryptocurrency price charts as well as emotionally as people suffer a wave of panic when prices drop. Some weak hands will also sell their cryptocurrency holdings during the large sell-offs further contributing to the crypto whale initiated market wave.

How much crypto must you have to be considered a Crypto Whale?

While there is no rule for this, it generally must fit two criteria: (1) large volume of crypto (typically in the tens of thousands of BTC, hundreds of thousands of ETH and tens of millions of XRP); (2) large USD value, which is dependent on the market values of coins on any given day. Typically Crypto whales are worth MANY millions if not billions of dollars.

Who are the Crypto Whales?

It’s tough to be certain who the crypto whales are because of the pseudonymous nature of Bitcoin, Ethereum, XRP and other cryptocurrencies.
There are some groups who have claimed the title of Crypto Whale, including:
  • Pantera Capital
  • Greyscale
  • Coin Capital Partners
  • Fortress
  • Global Advisors Bitcoin Investment Trust
  • Bitcoin Investment Trust
  • Bitcoins Reserve
  • Binary Financial
  • Falcon Global Capital
  • Satoshi Nakamoto (wallet holds ~1,000,000 BTC), but its never been used.
Suspected Whales IMO:
  • The Winklevoss Twins
  • Roger Ver
  • Fidelity
  • Goldman Sachs (I could be wrong)
  • ICE (Parent company of Bakkt)
  • Bitmain
  • Other large miners
  • Vitalik Buterin (Ethereum Whale) & Joseph Lubin (Ethereum Whale)… likely.
  • Ripple (XRP Whale)
  • Who are the Crypto Whales?
  • Who are the Crypto Whales?
  • Theories on Crypto Whale Manipulation
Now I am no market analyst so take this with a grain of salt. The general sentiment on the internet about Crypto Whales is that they can and do manipulate the price of their respective cryptocurrency. Crypto Whales generally are financially well off and can afford to spend money. The idea is that they put in a large sell order on an exchange that they know cannot handle the volume of the sell order. This causes the price of the cryptocurrency to drop dramatically.
Once the price has dropped to a certain point the crypto whale takes fiat and buys up tons of low-cost cryptocurrency. Please note that they do not have to have their whole sell order filled. They just need to drop the price, cause panic, then other small fish investors start selling their cryptocurrency. This is when the whale cancels their sell order and starts buying the dip.
I personally think that this definitely happens, but to what extent I do not know.

Conclusion

I hope that you enjoyed this post on Crypto Whales and that you managed to learn a little something new about the crypto industry today.
There is a Twitter Account called “Whale Alert” where the individual (or group) tracks the blockchain for large cryptocurrency transactions/movements. Very interesting to pay attention to and keep an eye on. @whale_alert is really doing a great service to the crypto industry and average investor by broadcasting the transparency of the blockchain for our benefit to not fear crypto whale movements… or at the very least to be aware of them.
Keep in mind that these Crypto Whales are significant right now. This is due to the illiquidity of the global cryptocurrency markets. As institutional investors around the world start investing in earnest, and then as hundreds of millions of average Joe investors add cryptocurrency to their retirement portfolio, the liquidity and overall market value will rise. The Crypto Whales will have less impact on the market then. We will have the demand and liquidity to absorb the large sell orders, and the crypto will be more distributed.
People will be adding cryptocurrency to their portfolios just like they add stocks such as the S&P500 or Apple, Amazon, Johnson and Johnson, Oracle, Walmart, Berkshire Hathaway, etc, etc.
One of two things will happen with increased liquidity: (1) The Crypto Whales become massive in size; or (2) The Crypto Whales go the way of real life whales… endangered and hunted…
Link to Original Post: https://markshirecrypto.com/cryptocurrency/what-is-a-crypto-whale/
submitted by Tokenberry to NewbieZone [link] [comments]

I am a time-traveler from the future, here to beg you to stop what you are doing.

Update, 27 oktober 2019:
Well gee, this blew up.
Bitcoin should not be treated as an investment, it should be recognized as a speculative negative-sum game. The Bitcoin system currently consumes an estimated 3.6 billion dollar worth of electricity on an annualized basis, just to update the ledger that contains a record of everyone's transactions. This enormous consumption of electricity is indirectly paid for by people who invest their savings in Bitcoin, as a consequence, money is continually "leaking" from the system.
As a Bitcoin investor, you're paying for Chinese businesses to waste electricity by solving an abstract math problem that is designed to get continually more difficult. Besides ensuring that many people lose vast sums of money while a small minority of early adapters is enriched, Bitcoin causes tremendous ecological damage in an era when we should be focusing as a society on reducing our carbon emissions.
The Bitcoin developers responsible for updating the protocol appear to have no genuine intention to introduce code changes that reduce the ecological damage caused by Bitcoin mining, so my suggestion has to be to sell your Bitcoins, which indirectly has the effect of reducing the ecological damage caused by Bitcoin mining.
Theft and loss of coins are also enormous problems affecting Bitcoin, so although it is theoretically possible to store your coins in a safe manner, history has shown that a lot of people will simply lose their coins, further illustrating why Bitcoin is not a good investment option.
The other cryptocurrencies share most of Bitcoin's flaws (resource waste, no protection against theft or loss, vulnerable to market manipulation, etc), but most importantly, what sets cryptocurrencies apart from proper investments is that these coins don't produce anything. If you invest in a company, that company can use the money to deliver more products. If you buy, silver, gold, bitcoin or beanie babies, you're hoping someone else will come along one day and pay more money for it. History has shown that people who invest money in the stock market will generally end up witnessing much higher returns than people who buy gold.
With that said, I hope this story has entertained you and helped you recognize some of the problems our society would face if we ever witnessed widespread adaption of Bitcoin or similar digital currencies.
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
submitted by Luka_Magnotta to Bitcoin [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

02-02 18:02 - 'What Happened to the 2013 Time Traveler's Post? A lot of u/Luka_Magnotta's predictions were coming to fruition...' (self.Bitcoin) by /u/globalchain removed from /r/Bitcoin within 0-5min

'''
Removed post: [[link]3
Deleted account: u/Luka_Magnotta
Archived post: [[link]4
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.

'''
What Happened to the 2013 Time Traveler's Post? A lot of u/Luka_Magnotta's predictions were coming to fruition...
Go1dfish undelete link
unreddit undelete link
Author: globalchain
1: ww*.reddit*co*/r*Bitcoin/c*****t**1*fob*/i_am_a_*i*et*avel*r_f*om_the_fu**re_here_t*_be*/ 2: np.re*dit.c*m/***coin/com*e**s/*lfobc/i*am**_timetravel***f**m_t*e_future*he*e_*o_*eg/ 3: www*re*di***om**itcoin/co*ments/1lfobc/*\_am\_***timetravel*r\_fr*m\_*h*\**ut*re\_***e\_to**beg/*^^* 4: np.reddit.com/Bit*oin***mments**l***c/i\*a***a\_*imetrav**er\*fro*\**he\_fu**re\*h*re\_to\_beg/]^^*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

What? "Winklewoss thinks Bitcoin will become gold 2.0"

Don't they teach basic economics at harvard?
link
“We think bitcoin is gold 2.0. It’s a store of value, so today it’s about a $US300 billion market cap, gold is at $US6 trillion, so we think it could very well go up another 20 times from today. [...] I think Cameron bought some Legos, and we bought tickets to Virgin Galactic Space. Unfortunately we really overpaid, because bitcoin went up about 20 or 30 times. So we learned our lesson, we don’t spend our bitcoin, we’re long-term holders. We think it’s a store of value much more than it is a currency.”
They can't possibly have said this... Someone writing the article must've made it up. If they really said it they're a long long way from the "brightest twins" image I had.
submitted by dementperson to btc [link] [comments]

DragonEx Roadshow Recap

DragonEx Roadshow Recap
In support of our new partnership, DragonEx Exchange invited Kambria Team members to participate in an exclusive online roadshow with both the DragonEx English and Chinese-speaking communities.
The event featured Kambria community managers Annie Wang (CH) and William Ryan (EN). Both sessions were focused and very active. Here is a recap of the conversation with William in the English channel; for clarity, the original text has been lightly edited for grammar and spelling.
Do you have any idea about Kambria? Today’s roadshow is mainly about Kambria’s project progress. and its future planning.
I understand the bulk of the conversation is going on in the DragonEx Chinese channel, but in case there are any English speakers here who are interested, we were recently listed on DragonEx. I met the team in May in New York City, and was very impressed with their professionalism. They are awesome people to know, and I am even more excited to now be working with DragonEx. They are a great exchange!
I wanna know, how is Kambria different from other AI projects?
Kambria is an open innovation platform designed to cut down and drastically reduce the time and cost it takes to innovate robotics, AI, and other frontier technologies. Kambria allows for innovators to collaborate on every aspect of the innovation process. So a company can host a bounty to utilize developers to help them build their ideas. This also allows for innovators to modularize their ideas and allow other innovators to utilize their work, and earn KAT in the process.
Can the Kambria project run without blockchain?
Kambria’s Open Innovation Platform is designed around the KAT token. It technically could work without a blockchain, but it likely would not because we all know that incentives are the basis for the work that most people do. So we use KAT to power the network, pay bounties, pay developers, companies, and innovators who contribute to the network.
The best way to achieve this is to use a decentralized blockchain with smart contracts. No one would contribute without incentives. That is the backbone to any healthy economy. That is why we believe we do need a token.
But how advanced is the project in terms of progress?
Currently, the features that we are focusing on are building out Github support to allow developers to import the githubs to build out the Kambria codebase, which will be utilized in the Kambria codebase, the backbone of the platform. Additionally, we are creating innovation hubs across the world that will allow roboticists and AI developers to come in and innovate new products.
What if a big company copies Kambria? Are there any barriers to competition?
There are currently no other companies who are doing what we are doing. Our platform encompasses every single aspect of the innovation process from concept, to design, to manufacturing, to sourcing materials, to production, to delivery. We will also not open source all of our intellectual property. Because of our experience with OhmniLabs, Kambria’s sister company, we have discovered ways to build robots using 3-D printing far cheaper than most have heard of.
Could you please introduce your team members to us?
Yes. My name is William, and I am the American Community Manager, and I have with me Annie Wang, who is our Chinese Community Manager.
Let me get you some info on the rest of the team. Let’s start with the top :)
Dr. Thuc Vu — Co-Founder & CEO — AI & Game Theory Dr. Thuc is a serial entrepreneur, with multiple company acquisitions, the last one by Google. He has deep expertise in game theory, tournament design and multi-agent systems. He earned his Ph.D. from Stanford and BS from Carnegie Mellon, both in computer science. Dr. Thuc is a social entrepreneur in Vietnam, involved in several community projects.
Dr. Thuc Vu, first of all, is just incredible to work with. He is the nicest man, but he’s also very talented. He is also a very generous person who sows back into the communities around him. He has created several foundations in the world to “give back” to people, including his very own VietSeeds Foundationin Vietnam that helps poor Vietnamese children get a great college education. He sold one of his companies to Google, and then created OhmniLabs, which is Kambria’s sister company. You can visit the OhmniLabs.com website for more information.
Here’s a pic of our founders with the OhmniLabs robot.
Our CTO, Jared Go, met Dr. Thuc Vu in college. They both attended Stanford University and Carnegie Mellon together.
Jared Go — Co-Founder & CTO — Robotics — Jared is an avid maker and roboticist, previously CTO and founding member at a networks startup. He has extensive experience in blockchain, AI, real-time graphics, VR, mechanical engineering and electrical engineering. Jared is a Stanford Graduate Fellow, and has a BS in computer science from Carnegie Mellon University.
Tingxi Tan — Co-Founder & CPO — Blockchain & Cloud Computing — Tingxi has a background in cloud computing, network infrastructure and distributed system design. He has been active in Crypto Investment since 2010. He was responsible for building the global scale cloud infrastructure at a networks startup. He graduated from MSc Computer Science U of Calgary and BSc Applied Math Western University.
Dr. Tra Vu — COO — Operations & Infrastructure — Tra has a background in Financial and Civil Engineering. She earned her Master’s in Financial Engineering and her PhD in Transportation Planning & Engineering from the NYU Tandon School of Engineering. Tra currently teaches at her alma mater and was responsible for leading her previous company in designing the first city-wide Transit Signal Priority system in New York City.
Tingxi, Dr. Tra Vu, and Jared are also just fantastic people to work with. The team is not only wildly talented, but also very pleasantly nice. It’s refreshing to see.
Is artificial intelligence a moral issue? How can I overcome this problem?
I believe it could be; however, it is up to us how we build such technologies. In our open collaboration system, everyone has the ability to solve this problem. If you want to solve it, you simply can participate in building it ethically.
Is the Kambria Innovation Platform open now in public?
Yes. The Open Innovation Platform was soft-launched in September 2018, and we are preparing for a full release this year. You can check out the platform here: https://app.kambria.io
I think artificial intelligence is a big trend: very good. Is there a potential market now? What are the plans for the Kambria project in the future?
AI is one of the fastest growing technologies in the frontier space. We already have hundreds of developers ready to begin working on the Kambria Open Innovation Platform, which is why we are so eager to finish our full launch of the platform, as well as our codebase. We are not far away. The full launch will be this year.
In addition, we are opening five innovation hubs across the globe, the first in Silicon Valley, California. We also working with major universities, including Stanford and Carnegie Mellon, to host hackathons in collaboration with the International Data Engineering and Science Association (IDEAS). Additionally, Thuc created the VietAI Alliance, which is dedicated solely to AI development. There will be several more of these that work with governments and universities in many different countries
I’m just a robotics engineer, but with no knowledge in Blockchain. How can I manage your platform? In our case, we have a team of robotics engineers and AI programmers, but they have no knowledge about Blockchain.
Follow up question: Do you have an infrastructure already in place?
The great news is that many roboticists such as yourself are not familiar with blockchain, and that’s OK! You don’t need to know how the engine of a car works in order to be able to drive it. It’s the same idea. Much of the blockchain underpinnings will be taken care of for you so that you can focus on innovation. Blockchain will primarily serve as the payment vehicle for bounties, services, and other functions on the network, such as staking coins, but the actual building of the product will be very familiar to you.
We do have an infrastructure ready and proven to be HIGHLY effective. Because of our experience with OhmniLabs, we have a “tried and true” method that we will allow other projects, such as yours, to utilize, and not just ours, but everyone else’s that uses our platform. It truly is open innovation for everyone.
I hope that the Kambria project will be carried forward in the future. I want to ask if the Kambria project is an artificial intelligence platform. Can Kambria help people with disabilities? They really need this project.
Yes!!! We love this. One of the verticals that we are focusing on is healthcare. Also, we build consumer robots, and robotic arms, which are very important for helping disabled people. It’s one of the use cases we are most passionate about. That is what robotics is for after all — making human life more comfortable and easier.
One of our robots (potentially) helped save an elderly woman’s life who had fallen. Her family was able to find her quickly and easily, preventing any further damage.
Is the Kambria Platform open now in public?
The platform is open to the public. Currently, you can vote for bounties, hackathons, buy robotic development kits, and explore the codebase, but there is much, much more coming in the short term this year. You may find it at https://app.kambria.io
Is Kambria currently based on ETH, and has Kambria considered the subsequent rise of the public chain.
Yes, we are based on ETH, but we are blockchain agnostic. If ETH, for any reason, cannot scale, we will look for a more functional chain.
Yes, ETH has been criticized for its slow processing speed. Has the Kambria project considered EOS?
We have considered EOS, and that would certainly be on our radar as one of the potential chains to move to, if necessary.
Could you tell us the history of Kambria, I am very interested in it!
Surely! Our founders started a robotics company in 2015. It was built upon the premise that to really accelerate adoption of robotics in the homes, a new type of company was needed. Being far away from home ourselves, they could relate to the need for affordable robots that bring families closer. So they set out to design robots with modular components, and utilize lean, toolless manufacture. To close the cost gap, they were ultra-focused on iteration speed. Reusability and integration were the cornerstones of their fabrication process, allowing for orders of magnitude, less capital spent, and a fraction of the development time.
Being able to foster an open collaborative ecosystem, where every contribution can easily be shared, manufactured, and implemented, will be revolutionary. Companies can benefit from the collective contribution from the community to build custom applications without having to employ teams of PhDs. End users can enjoy the higher quality of life potentially afforded by more available robot products and services. A combination of reduced costs, cutting-edge technologies, and swift delivery will spur rapid adoption of the Kambria platform by companies, developers, and manufacturers. This cycle of innovation will pave the way for the next wave of robots to provide immense value for people across the world.
Ohmni has achieved good results in the market, and the architecture behind it is indispensable. However, OhmniLabs development was not easy. Built from scratch, the establishment of laboratories, and the search for supply chain production, robotic startups was very difficult. In the difficult process of exploring Ohmni, an idea gradually formed: since there are so many barriers in the field of robot development, why not create an open platform where development, purchase, research, investment, and other needs coexist? It not only brings together talents from all sides but also promotes the development of robotics. In that thought proces, Kambria was born!
We named the platform Kambria, after the Cambrian Explosion, 500 million years ago, when an accelerated evolutionary rate gave rise to biodiversity and abundance. We believe this platform will be the catalyst for a similar explosion in intelligent robotics.
How many people are there in the Kambria project? Is there a blockchain related person?
Yes, our CPO is Tingxi Tan, has extensive knowledge in blockchain development. Additionally, we have a wide array of blockchain and full-stack developers. In total, our full-time staff is 20 people and growing. There are also many part-time employees as well! You can find most of them on our LinkedIn page: https://www.linkedin.com/company/kambria/
While we are technically a global company, our two main “home bases” are in Silicon Valley and Ho Chi Minh City, Vietnam, where much of the team is from. OhmniLabs is also in Silicon Valley.
Our advisor list is also quite extensive. I will list them here:
Prof. Manuela Veloso — AI & Robotics — Manuela Veloso is the Herbert A. Simon University Professor in the School of Computer Science at Carnegie Mellon University. Professor Veloso will be the Robotics and AI judge on the Kambria platform.
Simon Seojoon Kim — HASHED — Simon Seojoon Kim is CEO and founding partner of Hashed, a leading crypto fund based in South Korea. He is a Blockchain evangelist and organizer of Hashed Lounge, a premier Blockchain Seoul meetup community.
Loi Luu — Kyber Network — Loi Luu is a researcher working on cryptocurrencies, smart contract security and distributed consensus algorithms. He is also a regular invited speaker at Bitcoin and Ethereum workshops such as DevCon2, EDCON. Loi believes in the force of the Ethereum and Blockchain technology.
Roger Lim — NEO Global Capital — Roger Lim is an experienced angel and blockchain investor. He is the Founding Partner of NEO Global Capital and an advisor for projects like Bluzelle, Qlink, CoinFi, Thekey, Tomocoin, 0Chain, Switcheo, Open Platform, and nOS.
Long Vuong — Tomochain — Long Vuong is CEO and founder of Tomochain, a public blockchain infrastructure providing an innovative solution to the scalability problem with the Ethereum blockchain. He is often invited as guest speaker of many reputable blockchain events around the globe. Long and Tomochain will also be partnering with Kambria to develop an educational certification program in blockchain and AI.
George Li — WeTrust — George is an ex-Googler who previously co-founded CottonBrew, a Stanford StartX computer vision company. George has helped connect us with influencers and market movers in the crypto space.
May I know some recent news about this project?
In addition to our new Innovation Hubs, we launched our KAT token in December. It is currently listed on DragonEx, KuCoin, and Bitmart Exchanges. We also recently hosted an incredible event this last November where the Winklevoss Twins, and Joe Lonsdale, and several other high-level venture capitalists were in attendance. I will get you the video! :D
https://www.youtube.com/watch?v=t8y4MxyAvTc&feature=youtu.be — Enjoy! I know we did.
The Vietnamese government also attended our November event called Innovation, Community & Impact. It was a very big deal. We wrote several articles recapping the event if you’d like to read about it. I will drop the links from our latest post that contains all of our best top ten articles for last year.
https://medium.com/kambria-network/kambria-2018-beyond-9820242c86c1
Within that article, you can find a ton of information about our project.
Great, I hope that the Kambria project will be carried forward in the future.
Thank you! We want to change the world, and we are unique enough to do it. There is nothing in the world like Kambria. We aim to make frontier technologies WAY cheaper and easier to build. An estimated 85% percent of the work being done is considered to be “wasted effort.” Because much of the work is done in silos, that means almost everyone is doing “double work.”
We can modularize everything and allow the different pieces to be applied, thus saving a huge amount of time in the development process. Why create something from scratch when someone else has already perfected it?
Do you build great motors? AI logic? Robotic arms? You can allow others to use your innovations to build theirs, and earn KAT, promote innovation, get paid, and collaborate on a number of different ideas.
“We aim to make frontier technologies WAY cheaper and easier to build.” Yes, this sentence is very similar to what Xiaomi, the technology giant of our country said so that everyone can enjoy the fun of technology.
That’s what it's all about. Improving the quality of life so that we can focus on the more important things that life brings. Great questions by the way. You’ve been a pleasure to speak with this entire time.
We expect that you can change the world through artificial intelligence + blockchain. Thanks, William and Kambria.
You are very welcome. Please feel free to join our Telegram Channels. We do have a Chinese Channel as well. We’d love to see you there. I am going to post our channels. If you have any more questions, feel free to ping me or DM me directly. My inbox is always open.
We’d like to thank not only DragonEx Exchange for having us, but also to all of the community members who asked us such great questions!
[THE END]
About William
William Ryan is a part of the Global Kambria Community Manager Team, and a resident of Texas. He has been in blockchain since 2015, and has a strong passion for frontier technologies, including blockchain, robotics, and artificial intelligence.
The Kambria Team
Kambria Website
Kambria Whitepaper
Telegram (ENG) Telegram (KOR) Telegram (VIE)
Telegram (CHN) Telegram (RUS)
Medium (ENG) Medium (CHN)
Facebook Page Facebook Group
Reddit
Twitter
Steemit
Discord
Weibo (CHN)
Instagram
Email: [email protected]
KAT is a token to be used on the Kambria platform.
submitted by Freeme62410 to KambriaOfficial [link] [comments]

$9,000 Bitcoin Bullish BTC Winklevoss twins Predict Bright Future for Crypto The Winklevoss Brothers: Bitcoin Worth 100 Times More Winklevoss twins on their Gemini bitcoin exchange Bitcoin Is Like Gold 2.0, Says Tyler Winklevoss Winklevoss Twins Double Their Fortunes by Staying True to Bitcoin

In 2017, their holdings shot up in value to over $1 billion, making them bitcoin billionaires. Their holdings are still worth that today. In 2017, Ben Mezrich wrote a book called Bitcoin Billionaires about the twins’ huge payoff in their bitcoin investment. There is a feature film adaptation underway. Gemini. Gemini is a US-based cryptocurrency exchange created by the Winklevoss twins in ... The Winklevoss twins have predicted that the value of bitcoin could go up another 20 times from its current price. Speaking to Fox Business, Cameron and Tyler Winklevoss, who have been dubbed the ‘first bitcoin billionaires,’ challenged the digital currency’s critics to ‘put their money where their mouth is.’ During the interview, Cameron Winklevoss said that they believed that the ... The bitcoin market is currently $1.5 billion – with the potential to grow exponentially as it becomes a more common form of alternative currency. Like bitcoin itself, the ETF is still in its nascent stages. The jury is still out on both. One thing’s for sure, though: this time, the Winklevoss twins will DEFINITELY get credit for the invention. "Said differently, the price of bitcoin could appreciate 45x from where it is today, which means we could see a price of $500,000 per bitcoin." The Winklevoss twins' argument for bitcoin's ... Today, the Winklevoss twins are focused in their newest venture which is helping advance the Blockchain and cryptocurrency space. Tim Draper An American venture capital investor, Timothy Cook Draper has earned the third spot in our list of most successful Bitcoin billionaires by earning an estimate of $250,000 per unit of virtual gold forecasted by the end of 2022.

[index] [22984] [6411] [16870] [45777] [44035] [2721] [13866] [34370] [16480] [5569]

$9,000 Bitcoin Bullish BTC Winklevoss twins Predict Bright Future for Crypto

Gemini crypto exchange founders Tyler and Cameron Winklevoss said that Bitcoin ( BTC ) will eventually hit $500,000 per coin during a recent interview with p... ️ Leverage OPM (Other People's Money): http://opm.cryptonewsalerts.net Bitcoin Billionaires, Tyler and Cameron Winklevoss, believe weakness in the U.S. fina... They became famous as the privileged pair of Harvard athletes who believe Mark Zuckerberg stole their idea for Facebook. Now, entrepreneurs Cameron and Tyler... The Winklevoss twins talk Bitcoin futures and fears - Duration: 9:42. Fox News 108,554 views. 9:42. China’s Silent Takeover While America's Elite Slept - Duration: 1:43:12. ... Winklevoss Twins Double Their Fortunes by Staying True to Bitcoin ... Bitcoin Will One Day Be Worth 40 Times Price It Is Now: Gemini Exchange's Cameron Winklevoss CNBC - Duration: 3:16. CNBC ...

#