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Bitcoin Exchange Coinbase Reportedly Valued At $1 Billion (reuters.com)
An anonymous reader quotes Reuters:
Bitcoin exchange Coinbase Inc. is in talks with potential investors on a new round of funding at a valuation of more than $1 billion, the Wall Street Journal reported on Friday. It is not clear which investors are committing to the round, which was described as targeting around $100 million or more, the Journal reported, citing people familiar with the matter... Demand for crypto-assets has soared with the creation of new tokens to raise funding for start-ups using blockchain technology. Coinbase said in January it raised $75 million from several major financial institutions including the New York Stock Exchange, USAA Bank and Spanish banking group BBVA.
Though Bitcoins were selling for $892 in January, they've nearly tripled in value over the last five months. Despite the fact that Coinbase "suffered outages" last week, the price of Bitcoin still rose 13.6% over the next nine days to $2561.
Though Bitcoins were selling for $892 in January, they've nearly tripled in value over the last five months. Despite the fact that Coinbase "suffered outages" last week, the price of Bitcoin still rose 13.6% over the next nine days to $2561.
This is a bubble built on criminal activity. Once law enforcement starts cracking down on ransomware authors and terror organizations get disrupted again, the bubble will collapse and there will be a rapid decline in Bitcoin valuation. Caveat emptor.
In other news all Bitcoin miners have a real world net worth of $0.00
If they're doing so well, they must be making good money. So why, exactly, do they need to raise another $100 million?
The valuation they're talking about is nuts. Truly, the next Internet bubble is not far from bursting...
Enjoy life! This is not a dress rehearsal.
has something to do with it. The value of Bitcoin's always been tied to the illicit drug trade and the current administration has signaled a shift away from legalization or even a hands off approach to let the States do their own thing. Then there's all the ransomware going around that's paid in bitcoin.
After all, a currency is only as valuable as what you can buy with it.
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I would say it's the ghost of Jordan Belfort in action, but he's not dead.
Bitcoin did crash in 2014. It went from $1,000 to $200 in a few weeks.
Yes it's recovered, but how many of those millionaires converting their coins to real currency would it take to cause it to crash again?
All I want is a secure system where it's easy to do anything I want. Is that too much to ask ~~ Randall Munroe
Congrats. You are gifted with incredible foresight and analytical capabilities. You ought to consider investing some of your millions in the stock market. I'm sure you'll do even better.
The Russians have won. They have made the world a cesspool of distrust, greed, fear and hate.
Bitcoin and related crypto-currency is bullshit and this will all end in tears. Governments are trying to clamp down on cash but haven't worked out that this is easier to manipulate and even better for criminals. Some governments are trying to tax it with goods and service taxes as if it's a product. Do they also tax money exchange at 10%-20%? This makes it undesirable for criminal and legitimate trader alike. While they're busy trying to regulated criminals will continue to laugh and use the unregulated version, and everyone else will steer clear. Distributed ledgers and the idea of a cryptographic chain between events may survive as it's a clever idea. But even that has an incredible amount of overhead.
Meanwhile, the people who bought in 2014 and held are now millionaires.
Meanwhile, people who bought in 2014 or earlier, and held, lost all or most of their Bitcoin when the exchange holding all their Bitcoin folded suddenly** (Mt Gox, FlexCoin, TradeHill. BitStamp, etc., etc., etc.)
**Typically claiming that they lost all their Bitcoin because they were "hacked" but more likely just theft by the owner of the exchange.
No one is "storing" its bitcoins on an exchange service.
They are on my hard disk, on my back up and on several USB sticks/drives.
Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
1% of the US population owns most of the wealth. What would happen to the dollar if they all tried to withdraw "their cash" at the same time?
Guns don't kill people; Physics kills people! - John Lithgow as Dick Solomon on Third Rock From The Sun
You probably should put some thought into why I put quotes around "their cash".
Guns don't kill people; Physics kills people! - John Lithgow as Dick Solomon on Third Rock From The Sun
Close. There is never any time when everyone can convert everything to cash. That's the point.
This is simply a claim you pulled out of your ass. It is a proof that holds only if the thing you are trying to prove is true.
Guns don't kill people; Physics kills people! - John Lithgow as Dick Solomon on Third Rock From The Sun
Dear creimer. You should probably try to figure out why "their cash" is in quotes. Get an adult to help you.
Guns don't kill people; Physics kills people! - John Lithgow as Dick Solomon on Third Rock From The Sun
Meanwhile, people who bought in 2014 or earlier, and held, lost all or most of their Bitcoin when the exchange holding all their Bitcoin folded suddenly
If You knew what you were doing AND bought with intent to hold, then chances are your coins were in an Offline wallet, and not lost during the Mt.Gox issues.
On the other hand: If you bought and were intending to trade, so kept your BTC with the Exchange, then you were screwed.
No one is "storing" its bitcoins on an exchange service.
Don't say No One. People who didn't understand the counterparty risks before buying BTC and how to mitigate them may have.
You suck at trolling
Guns don't kill people; Physics kills people! - John Lithgow as Dick Solomon on Third Rock From The Sun