Tyler and Cameron Winklevoss conducted an AMA on Reddit on r/IAmA subreddit, where they spoke about a plethora of topics and mostly about Bitcoin and its future. The topic even included questions from users regarding Gemini’s fee structures.
A Reddit user, YRuafraid referred to Winklevoss’ AMA of 2014 when the brothers predicted that Bitcoin price would hit $40,000 per BTC. The user asked if the same was still true.
Winklevoss replied to this question:
“Our thesis around bitcoin’s upside remains unchanged. We believe bitcoin is better at being gold than gold. If we’re right, then over time the market cap of bitcoin will surpass the ~7 trillion dollar market cap of gold.”
The Reddit users quickly calculated that if this were to happen [assuming the circulating supply of BTC at 21 million] it would put the price of Bitcoin at $333,3333 per BTC.
A user, Noeel asked:
“Do you think Bitcoin will allways be Crypto #1?”
To the above, Winklevoss replied:
“Bitcoin is certainly the OG crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value) Bitcoin is most likely the winner in the long term.”
The users moved from price predictions to a much more intense question regarding Gemini exchange. A user Vinyl_Steelworks asked:
“If you’re so committed to Bitcoin, why hasn’t your exchange implemented the latest Bitcoin technology yet? Things like implementing Segwit and transaction batching would not only benefit both your exchange and your customers but also the network as a whole.”
Winklevoss replied that their hot wallet was developed before SegWit was up and running and that trying to “retrofit” SegWit into existing wallets would be a tedious job.