Tyler Winklevoss – cofounder of Gemini crypto exchange, along with his twin brother Cameron, speaking in NY City on Feb 27, added his back up on the popular claim by many that the leading coin Bitcoin (BTC) is a digital form of gold. Both gold and bitcoin are scarce, he continued, fungible and divisible. But, he believes that bitcoin is better at being gold than gold is, since you can hold it in a single string of numbers making it much more portable.
On the same route, Winklevoss described ether as a digital oil which fuels the Ethereum blockchain network – a protocol layer. On that layer, dapps can be developed and built using their tokens.
When it comes to Bitcoin’s little brother – Litecoin and if it is indeed the Silver to Gold, he added that it more looks like a testnet. These are simulated forms of could-be blockchain that teams of developers run to test without risking anything. Which is why Winklevoss believes that, keeping in mind Litecoin is very similar to bitcoin, but with just a smaller market capitalization it represents more a testnet.
As the digital currency exchange – Gemini only supports ETH and BTC, and audience member asked if it list Bitcoin CASH BCH. The Winklevii – a nickname they said, in response to another question, that they do not mind – avoided giving an answer, but seemed to indicate that bitcoin cash support is unlikely, contrasting the contentious fork to litecoin’s “friendly fork.”
Initial Coin Offerings
During an event that was hosted by the Museum of American Finance, in which even Joe Lubin – the cofounder of Ethereum appeared, Cameron and Tyler Winklevoss took center stage of speaking.
Even that the speaking individuals never traded blows directly, there were many disagreements during the evening. One of the is the regulatory form to approach ICOs or Initial Coin Offerings. Joe Lubin, appeared as the most supportive of the ICO-idea as a way to raise capital. On the saying that the offerings are unregulated, he replied with that they are and recommended a self-regulatory model. In that model, part-takers assemble a central but decentralized repository for information about the projects.
Tyler Winklevoss, by contrast, seemed to dismiss the idea that ICOs were compliant with securities law as currently written. “ICOs are tokens on top of tokens,” he said, calling them an effort to “crowdfund equity.”