Do you see BTC 'replacing' currencies we have today, or being used alongside them?
Have you invested in any altcoins, if so, which and why?
I view BTC more as an alternative to fiat currencies than a replacement.
I have not invested in any altcoins because I don't believe that any of the "problems" or issues that they address can't be addressed by Bitcoin itself.
What is your favorite book?
I have a couple, to name a few, Isaac Asimov's Foundation, Frank Herbert's Dune, Daniel Mason's The Piano Tuner....
What about Cryptonomicon or Snow Crash?
Love them both!
Are you invested in any other coins or just Bitcoin?
nope, just Bitcoin.
Thank you for taking the time for this AMA. Where do you see Bitcoin in the future? How will it remain a viable currency?
small bull case scenario for Bitcoin is a 400 billion USD dollar market cap, so 40,000 USD a coin, but I believe it could be much larger. When this will happen, if it happens, I don't know, but if it happens, it will probably happen much faster than anyone imagines.
As a heavy investor in Bitcoin you stand to gain handsomely if people believe prices will rise. I ask seriously: what makes your predictions more credible than, say, someone touting penny stocks?
Not trying to troll here, actually interested in your answer.
Edit: capitalization.
Because I have put my money where my mouth is. I stand to gain as well as lose depending on how the future unfolds.
That's generally considered to be the opposite of credibility when it comes to recommending investment vehicles.
I disagree. If you are negative on Bitcoin you should have a short position, if you are positive, you should have a long position. If you talk about it an don't have a position either way, its just noise. Having skin in the game is called accountability. Bitcoin is way too large for one single person to be able to manipulate it by talking their book.
What has been the most defining experience you have had to date?
So far, I would say rowing in the Olympic Games for the USA.
Do you believe in BTC as a currency or only as a speculative vehicle?
I view Bitcoin as commodity money.
Whats your favorite purchase made using Bitcoin thus far?
Sriracha bacon lollipops
You went to quite a number of very good schools. What's your take on elitism and classism? Do you think that the networking possibilities there are more worth than the actual education?
Elitism and classicism are for people who can't get by on merit alone.
I think what he is saying is that people who are not smart or talented or hard working use family name, race, money, etc as a crutch to prop themselves up because otherwise, they are worthless.
Correct! Perfect explanation. So much of what I love about rowing is how merit-oriented it is. The boat you're in doesn't care who you are, and what you have, only what you do.
Favorite Album?
80s Def Leopard: Hysteria 90s Smashing Pumpkins: Siamese Dream, RadioHead: Ok Computer, Alice in Chains: Dirt...
Have you sold any of your bitcoin?
I have yet to sell a single bitcoin.
Do you think the unequal distribution of bitcoin / big gains of early adopters will be a deterrent in a more widespread adoption of bitcoins?
No. Early adopters get bigger gains (as they should) because they take on bigger risk. A bitcoin can be divided into 100 million pieces, so I don't see divisibility or distribution as a problem.
Thanks for taking the time to do this AMA. Do you have any good resources for learning the ins-and-outs of Bitcoin?
http://trybtc.com is a good starting point for setting up a wallet, etc. http://thegenesisblock.com is an incredible resource.
Cameron, what was the highlight of your time at Oxford?
Dining with Harry Potter.
We all learned of bitcoin at different times and in different ways. How did you learn of bitcoin?
Partying on a beach in Ibiza, where else?
What did you think of your portrayal in the Simpsons? Would you be a guest star if given the opportunity?
Huge fan of the show, but didn't feel our portrayal was particularly clever, a missed opportunity for them but flattered nonetheless.
Damn! This was my only chance to talk to a famous person!
Hi Tester! Tyler says "hi" too.
I am honored!
As am I. Thanks for taking the time out to join me.
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1) The Silk Road closure, and resulting price gains demonstrate how the demand for BTC has little to do with illicit transactions. If anything, Silk Road was holding Bitcoin back by disproportionately dominating its narrative in a negative way.
2) It is estimated that the volume of bitcoin transacted on Silk Road only represented ~4% of the total volume of bitcoins transacted on the Block chain over the same period of time.
3) Interesting, but I don't think they solve any "problems" that Bitcoin can't address itself.
4) Volatility will decrease as Bitcoin matures and regulatory landscape becomes clearer.
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Cause Moe put my head in a vice.
Winklevosses, or Winklevii?
WinkleBOSS
What do you say to people who think your right hand is fake in your photo proof?
iPhone or Android?
Both, however, Android is much more Bitcoin friendly.
How can we be sure you're not Tyler Winklevoss?
You can't. Sometimes I'm not even sure.
I just started rowing for my college, any tips?
One of best ways to get gains is 90min steady state 3-6 times a week, HR @ ~150 BPM (75% of 220 minus your age)
You know what's cool?
A single bitcoin.
Hi Cameron, I feel like watching a movie right now. Do you have any suggestions of what I should watch?
Toy Story 1,2,3. (A did this marathon earlier today).
Are you actively trading your bitcoin or are you just holding on to them? Do you think you can really predict price movements?
Holding, Spartans hold. No, my crystal ball is broken ATM.
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Is the Pope Catholic? Send me the Term Sheet.
I understand that your ETF is only available to accredited investors. Why? Was this a decision on your part, or an SEC rule?
Are you planning on opening it up to all people, not only accredited investors?
Due to gun-jumping rules I can't speak about the Winklevoss Bitcoin Trust, however, ETP's and ETF's are NOT exclusive to accredited investors, any investor can purchase shares.
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This is my first AMA.
I just really like the username you chose. That's all, have a good day.
Merci.
Considering your huge position in bitcoin and the huge volatility of the price, how does it feel riding the massive swings?
Some days I don't even look at the price. I'm in this for the long-haul. Spartans hold.
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I think it's a mistake.
Biggest regret outside of anything facebook related?
That I haven't formed a band yet.
Hi Cameron,
What is your Christmas wish this year?
A triplet.
Do you ever wish Pacific Rim was real?
Yes. Tyler and I would be be able to drift in Jaegers and beat down on Kaijus. Is that you Eli?
Port or starboard? And how did you guys decide that?
Port. I'm left-handed, Tyler is right-handed. Our first coach James Mangan put us this way so our strong hands would be our outside hand on the oar.
How exactly does one bitcoin?
its a "bit" like twerking.
So, do you have a facebook account?
Yes.
Hi. I'm the GreaterBitcoinFool. You may remember me from such threads as "Why the fuck did I buy in at $240 before it crashed to $100 an hour later?" and "I just bought more at $160 ... and it's gone again."
My question to you is this. In the CNBC interview, you thought Bitcoin had a small bullish value of $400 Billion. How did you arrive at that figure? I am hoping to hear some real hardcore economic analysis, instead of pulling numbers out of your ass like everyone else does.
(The number I pulled out of my ass was $50-100 billion, so I kinda like your number better.)
Bonus question added after the original post: How do you feel Litecoin and other virtual currencies could fit into and possibly dillute the long-term value of bitcoin.
Within ~10 years Bitcoin will feel as mature of a store of value as Gold or the USD.
-Technology adoption curves have become steeper over time
-90% saturation of cars took 85 years
-90% saturation of cell phones took 15 years
-Gold has been around for 2500 years
-USD has been around for 221 years (Coinage Act 1792)
-USD is ~8% as old as gold.
-BTC is ~5 years old
-In ~10 years BTC will be 8% as old as the USD
-Precedent indicates that BTC will feel and act as mature as USD and gold in 10 years
how would you recommend someone should go about starting a Bitcoin group on a college campus?
Looking for ways to do this but I can't think of any 'goal' or ways to entice people
Check out http://bitcoin.stanford.edu
Do you own any altcoins? Are there any altcoins you are considering purchasing?
No. No.
People have been asking you about the future of Bitcoins, but what do you see for the future of the US dollar? Will it be affected by all this quantitative easing?
I'm not sure about the US dollar and nobody I talk to is either. What everyone is sure about, however, is that we are in completely unchartered waters. In the last 4 years alone the Fed has quadrupled the money supply. At some point the music has to stop?
You sir, and your brother. You are terrible people.
Do you have a Facebook Account? I really do think this is a valid questions.
927 people own half of the bitcoins. Do you consider this a hindrance to its future market cap?
No. Bitcoins can be divided into 100 million pieces so its not important whether half of the bitcoins are held by 927 people or 9,270,000 people, etc.
What are your thoughts on Litecoin?
All of the "problems" it address in Bitcoin can be addressed and solved in Bitcoin itself. Furthermore, its work function which attempts to more evenly distribute mining will inevitably go the route of ASICs (just like Bitcoin).
What was your favorite Boston area pig-out spot when you were at Harvard?
Wing works!
G'Day Cam
Is your reddit name paying homage to the Australian beach (near Bells) or something else? http://www.steveryan.com.au/wp-content/uploads/galleries/post-51/full/SRO%20148%20Winkipop%20Sunrise.jpg
I hope you & your brother make a motza out of Bitcoin & get Zuckerbot to shine your shoes one day.
Cheers
G'day mate! Funny that you should ask. My username is a nickname given to me by Matt Ryan (http://en.wikipedia.org/wiki/Matt_Ryan_(rower)) and James Chapman (http://en.wikipedia.org/wiki/James_Chapman_(rower)) two Australian rowing buddies that I met when I trained in Sydney for a few months in 2006.
What is the biggest difference between you and your brother?
I'm the goofy twin.
Hi Cameron,
you mention that a bitcoin can be divided into 100 million pieces, however, given that we suffer from a cognitive bias called the Unit Bias, some people may be put off by not owning a whole bitcoin. Do you think that changing the denomination of bitcoin (e.g., mBTC) will suffice? Further discussion can be seen here
mBTC is one way to handle this bias if it actually exists.
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Can I be you?
No, but you can be Tyler.
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Dare to fail greatly.
How many inches?
6'5"=77 inches
Favorite video game?
Age of Empires
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Egg white omelette usually. High protein.
Bitcoins intrinsic value. Thoughts?
The concept of value is an interesting one. We could probably talk forever on it and its subjective/objective nature. That being said, Bitcoin has technological intrinsic value. Our concept of intrinsic value needs to be updated. In the post-industrial world, intrinsic value should encompass technology that has a value in and of itself.
If you were to play a role in a fictional bitcoin detective novel, how would you like to be portrayed? Framed victim? Untouchable overlord? Secret agent sugar daddy?
Winklevi cameo
Hello.
Can I get a "Hell"?
Can I get a "Yeah"?
yeah. i mean hell yeah.
Who are you? for those of us that don't know c;
How good do you and your brother understand Bitcoin from a technical perspective? Like very specifically how certain aspects of it work (E.g: Proof-Of-Work, Cryptographic Hashing, etc)? Additionally, what are the biggest problems you see with bitcoin going forward?
Pretty well. I've spent a lot of time self-educating on crypto, etc.. The beauty of open-source is that it adapts and evolves so I am confident it will do so as needed.
