Bitcoin Stocks & Bonds

The Nigerian

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All The Way One Hunnid
One Paragraph That Totally Destroys The Winklevoss Bitcoin ETF - Business Insider

The Winklevoss Bitcoin ETF Is An 'IQ Test' To See Who Will Be Separated From Their Money

Yesterday, the world got a hearty laugh on news that the Winklevoss twins plan to launch a Bitcoin ETF.

The Winklevoss twins are famous for their claim to have been co-founders of Facebook, resulting in a suit against the company that netted them a small windfall.

Since then they've been pursuing various tech and investing opportunities, and it had been known that they were Bitcoin enthusiasts.

There are so many reasons to LOL at this news, but the most devastating take comes from Macro Man, who argues that the proper way to think about this ETF is as an "IQ test":

Someone on one of Team Macro Man's chats recently described this ETF as a Rorschach test of what people think of digital currencies. That is utterly wrong: it's an IQ test. Bitcoin is anonymous, untaxed (for now) and quite liquid in and of its own right despite all the complexities of a cryptocurrency. A bitcoin ETF is taxed, has fees, may or may not be liquid at all. So, this is really a test: do you want to facilitate the exit of the Winkelvii from an investment at inflated levels which they will soon be taxed upon or do you want to sit this hand out?

Point. Set. Match.
 

yo moms

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Thread has been 1 starred, OP has been negged

Stop spreading this bullshyt around. Anyone pushing bitcoin or MLM "business" opportunities gets negged automatically

You need bitcoin to buy from Silk Road though.
 

DirtyMoney

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Thread has been 1 starred, OP has been negged

Stop spreading this bullshyt around. Anyone pushing bitcoin or MLM "business" opportunities gets negged automatically

Hol up, MLM ? Bitcoin is similar to MLM ? Ok lets look at the stats. I earn enough to test the waters. Bitcoin is now $79, I'll buy some coins and take a pic of my acct and post. In 3 months(or any timeframe but daily) I will post another pic of the value of todays purchase and as such we shall see whose bullshyttin.

:ohlawd:
 

DirtyMoney

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From where? i know its a bunch of scam BTC spots

I use local localbitcoins.com. I do not advocate for anyone to invest. I invest because I earn enough to do it and my risk appetitite allows me to risk it all. I am happy to lose everything as i am more speculating than investing.
 

PrinceDeeDer

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I use local localbitcoins.com. I do not advocate for anyone to invest. I invest because I earn enough to do it and my risk appetitite allows me to risk it all. I am happy to lose everything as i am more speculating than investing.

I been there done that already wit the bitcoins. I made money way back in april, i got mine when they were still like $50. Your not buying new bitcoins though your buying bitcoins that are already in circulation, if you really want bitcoins you have to go through Mt. Gox not localbitcoins, they're just a resale service of coins already in circulation. Homeland Security blocked Mt Gox from being able to receive funds so its killing the value of the coins because new ones can't be bought! Good luck trying to make money though.
 

DirtyMoney

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I been there done that already wit the bitcoins. I made money way back in april, i got mine when they were still like $50. Your not buying new bitcoins though your buying bitcoins that are already in circulation, if you really want bitcoins you have to go through Mt. Gox not localbitcoins, they're just a resale service of coins already in circulation. Homeland Security blocked Mt Gox from being able to receive funds so its killing the value of the coins because new ones can't be bought! Good luck trying to make money though.
I already fuxed with Mtgox til they got their hands tie by FTC. They're too slow. Illadope is my amigo. He A1 with the Bitcoin game. I'm happy to buy existing coins...
 
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