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Winklevoss twins, the most renowned bitcoin millionaires, still believe that Bitcoin is one of the finest investment opportunities out there and that they won’t sell bitcoin if its value goes over $300k.

Won’t Even Sell At $8 Trillion Market Cap:

In 2012, when Facebook opened up to the world, the Winklevoss twins got $45 million from a settlement with Facebook CEO Mark Zuckerberg. Despite their legal advisors’ proposal to take the settlement of $45 million, the Winklevoss twins received it in Facebook shares. By 2013, the Winklevoss twins amassed a fortune of $300 million, as the shares of Facebook soared.

After a fruitful exit from Facebook, the Winklevoss twins began to buy bitcoin at $10, amid a period in which just a handful of investors such as Roger Ver and Charlie Shrem had put resources into the crypto cash. Over the next couple of months, the Winklevoss twins obtained 120,000 bitcoins at an $11 million valuation.

Today, the 120,000 bitcoins acquired by the Winklevoss twins are worth $1.68 billion, and the Twins have gotten a benefit of ~$1.7 billion within merely four years.

The Winklevoss twins have emphasized that they won’t sell bitcoin even if its market cap surpasses that of gold at $8 trillion or when its price surpasses $380,000. Tyler Winklevoss believes that bitcoin is superior to gold since it is programmable as cash and has many advantages over traditional assets such as transportability, fungibility, divisibility, and security.

“In a funny way, we’re not sure if we’d sell it even at $380,000. Bitcoin is better than gold. It’s a programmable cash and may continue to innovate.” Said Tyler Winklevoss in an interview with New York Times.

More importantly, Tyler included that the Winklevoss twins are not influenced by the high unpredictability and rapid value movements of bitcoin because they have faith in the long-term execution of the digital currency and the innovation behind bitcoin.

“We are extremely comfortable in high-risk conditions with absolutely no assurance of success. I don’t mean existing in that condition for days, weeks or months. I mean a seemingly endless amount of time.”

 

Story Credits: ccn.com

Image: Google images

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Bitcoin profitability

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Bitcoin profitability

When I do shopping, I like to buy goods at a low rate and save some amount. This is much difficult to attain profit while you are buying or selling something.  In the same way, when you are using bitcoin ATM in exchange as well as in buying of goods.  You can make bitcoin profit… not serious???  Yes, you can make the profit while you are using bitcoin ATM.

Bitcoin ATM industry is few year old but is growing every day. It’s almost more than 500 ATM worldwide. Basically, profit from bitcoin is not easy money. You need some targets for your success. Firstly, make it sure that you are making transactions in legal manners with a required license. Secondly, it is very important to choose the public place. Third, you need some promotion of your machine to your surroundings. Fourth, you have to maintain bank relation for the back end. Five and the most important is to make a good reputation.

Furthermore, ATM charge 5.2 % fee or 6% assume $2k gross profit per location on average. This fee can be varying from place to place. Here is an example of $20k per year means $100 gross profit, which is nothing. On the other hand, in a case of Robocoin, an operator will pay $1 fee. According to Robocoin statistics, 1/3 of all sell bitcoin transactions. Whereas, 2/3 buy operation on average. It is assumed that buy and sell transactions are on an equal scale, but it varies. Actually, not all bitcoin ATMs operation support these two-way transactions. Sometimes there is only buy operation and average buy and sell is $480 and $750. Ironically, operation matrices highly depend on many factors including place, area, country, traffic etc.

Here, we created 3 scenarios for bitcoin ATM by using the calculator. Basically, these are theoretical calculations, which do not need any promotions and marketing process.

Is bitcoin mining profitable?

Scenario no. 1

Skyhook is only one-way transaction operator and the bill acceptor is limited to a capacity of 500 bills. Which makes it the cheapest ATM. On the other hand, it is with limited in operations like does not accept large Euro banknotes. The most important things in place, you have to choose the right place.

For example, cash logics are done by the operator and we don’t have to pay rent. Average transactions are 100 per month and average transaction of $50. After the period of payback of bitcoin ATM which is 4 month, it will bring $235 to the owner every month after the return of investment.

 Scenario no. 2

This scenario includes more than two bitcoin ATM machines. Most of them support two-way transactions process and much solid than the scenario 1.  For example, ATM cost is $6000 and per year transactions are 100 which average transaction is at $150. Calculations show that after 9 months of launching it will reach to its break-even period. Whereas it brings $705 per month to its owner after investment return.

 Scenario no. 3

Robocoin ATMs, the most expensive ATM in the market. These ATMs are fully equipped and also support two-way transactions. ATM cost is $15000 with 150 transactions per month and average transaction size is $300 per month. Because of its function, it also looks like the standard bank if ATM.

Here is some example of different ATMs we find on the internet. Vancouver first Robocoin machine, Bit Access stats, Black Star Pastry Bitcoin ATM, Skyhook Bitcoin ATM in the Philippines, Satoshi points Bitcoin ATM in Bristol, Operators survey, BTCPoint analysis, Two-way BitXatm machines in Switzerland.

Conclusion

If you are going to purchase bitcoin machine don’t expect too much. Make your relations strong and promote your machine.  Above are some example and will support you to make your decision profitable.

GOOD LUCK!

 

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How To Earn Bitcoins

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Everyone wants to be rich and for this, they pick out different methods. Some of those ways are easier and quick to work, while others are not so much. Cutting to the chase, one of the quickest ways to become rich is Bitcoin – the most valuable cryptocurrency out there. There are many ways to earn bitcoin here we are going to tell you how to earn bitcoin in the easiest ways possible.

how to earn bitcoins

By Completing Tasks On Websites:

The simplest way to earn bitcoins is carrying out simple tasks on certain websites. Some of the websites that offer Bitcoin in exchange of the tasks carried out by their visitors are BitVisitor, CoinWorker, and BitForTip.

By Accepting Them As Payment:

If you are running a business, big or small; introduce Bitcoin as an additional payment option. That’s probably even easier than the one mentioned above: you already have an established business and a client base. All you have to do now is convert the entire client base, or a portion of it to paying you in Bitcoin.

Through Mining:

Mining is a bit slow method to earn bitcoins, but it is also the most common one. Mining requires a special combination of hardware and software for the generation of new Bitcoin blocks. However, the process is relatively expensive and requires a constant supply of electricity which makes it slightly out of reach for a common folk.

So, these three are the most common Bitcoin earning methods for those wondering how to earn bitcoins. Choose one that’s most convenient for you.

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10 Reasons Bitcoin Price will Destroy All Time Highs in 2017

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