I'm at the Bitcoin 2013 conference in San Jose, California. The Winklevoss twins spoke last night at the conference. They are major Bitcoin owners. They come across as pretty decent preppie guys. The type you wouldn't mind going to a baseball game with or having a drink with, but their presentation on why bitcoins are here to stay was unimpressive.

Their presentation, and I am not exaggerating, came down to this:

1. Ghandi said that first they ignore you, then they laugh at you, then they fight you, then you win, therefore Bitcoin will succeed.

2. There was a guy who thought the automobile would never replace the horse, therefore Bitcoin will succeed.

End of presentation.

The real action was on the floor of the conference.