Here's Why The Winklevoss Twins LOVE Bitcoin
AP Images
Speaking to Business Insider's executive editor Joe Weisenthal at IGNITION 2013, the twins laid out the reasons why they love Bitcoin.
In response to the criticism that Bitcoin is purely speculative, either Eric or Tyler (we didn't catch which one) said that "people speculate in dollars too. This idea that people aren't betting when they hang on to a dollar is incorrect."
They also love the currency's transparency, explaining that "there is nothing predictable or transparent about the US dollar. No one has any idea what the Federal Reserve's going to do, how they operate."
Bitcoin, on the other hand, is fixed at 21 million coins that will come out incrementally and predictably over time.
"Bitcoin brings the promise of email to the finance sector. Now it's instant and effectively free to send money anywhere," the twins said.
Next Story
A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single 
A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
Having an regional accent can be bad for your interviews, especially an Indian one: study
Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
5 Best places to visit near Darjeeling
Climate change could become main driver of biodiversity decline by mid-century: Study
RBI initiates transition plan: Small finance banks to ascend to universal banking status
