Bitcoin to be bigger than Facebook, say Winklevosses

(Last Updated On: May 20, 2014)
Tyler and Cameron, twin Winklevosses (image source: CelebrityNetWorth)
Tyler and Cameron, twin Winklevosses (image source: CelebrityNetWorth)

For those who are clueless of Winklevoss twins, Tyler and Cameron, here’s an introduction;

They had claimed that not-then-billionaire Mark Zuckerberg had stolen their idea of a social network, they called HarvardConnection (it’s ConnectU now). ConnectU was co-founded by Tyler, Cameron and their Harvard University classmate Divya Narendra. End of their story with the involving their social network ConnectU’s idea was that they sued $140 the founder of popular social networking site Facebook, Mark Zuckerberg for he had reportedly stolen “their” idea. They posses Harvard and Oxford on their resumes which is an honor. Twins had participated in men’s pair rowing at Beijing Olympics in 2008.

Winklevosses on Bitcoin

Twins came to discover about the crptocurrency at a party in Ibiza in 2012 (when Bitcoin was only 4-year-old kid). At that time only a very small fraction of people had a slight idea of this currency. They also completed a round of seed funding for their Bitcoin payment processor, BitInstant, in 2013.

Facebook’s growing market value in one place in itself is a good news for Winklevosses, yet they insist Bitcoin will be bigger than the social networking site used by millions, Facebook – with its value as of May 2014 to $151bn. Telling their story about discovery of Bitcoin, Tyler says, “We were on vacation, and happened to bump into a guy who is mutual friend and he started to tell us about Bitcoin.” “We were fascinated from the day one.” he tells excitedly.

“Bitcoin potentially could be more impactful because being able to donate 50 cents to someone across the world has more impact than potentially sharing a picture,” he explains. Twins foresee this year when Wall Street will jump into the game. Also, this year seems to be the year when all of Bitcoins will get into circulation – 21 Millions. One may say, this is the year of end of mining Bitcoins, which is the process of acquiring Bitcoins in a different way. For your information approximately 3600 Bitcoins are mined per day and this is the total number of those in circulation right now.

Twins speculated the success of cryptocurrency and by far it looks like their prediction is predestined to success like they themselves look via their resumes. They own 1% of market capitlization of Bitcoin which equals $5.7bn as of now. Which is enough make somebody responsible like Winklevoss to ensure the thing they are involved in is explored, spread and succeeded (which is a continuous battle).

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