Slashdot Mirror
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.
You know when you post as AC it only takes one person to mod you to -1? If the comment is good other people can mod it up. It's not censorship sorry bud.
Wah wah wah.
You can tell how powerful someone is by the magnitude of the crime they can commit and be able to get away with.
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.
If you had bought $100 worth of Bitcoin in May of 2010 it would be worth somewhere around US$79 Million today. The problem is, neither Coinbase, nor anyone else, is just going to hand you $79 Million for your Bitcoin. For anything more than a few thousand dollars, Bitcoin is essentially useless.
I know a guy who claims he can cash out $79 million in tulip bulb futures, if anyone's interested.