Re: Bitcoin will be bigger than Facebook

Winklevoss twins: Bitcoin will be bigger than Facebook. The brothers, two of the most influential players in a new generation of investors, say bitcoin will encourage financial openness.

http://www.ahametals.com/bitcoin-bigger-than-facebook/

Remember, the Winklevii are trying to set up an ETF so they can dump their Bitcoins. They need to find enough suckers.

I don't think hey are trying to dump their bitcoin. I think they are trying to profit off of bitcoin. They will obviously sell a portion of their bitcoin when the ETF starts trading, but I think they hope to be able to make most of their money from the fee that the ETF charges it's holders (the management fee). I would also not be surprised if a fee what charged anytime that an AP exchanges the ETF for BTC or BTC for the ETF.

ETF fee is normally 1-2%. Doubt they can charge more than this.

Kind of make me wonder, why they want to go thru so much trouble to make 1-2% a year. There are other way to make more money easily.

1-2% on the money others invest. Not their money. Grin