So I'm late to the digital currency game. What are the regular use cases for digital currency? Who accepts it? Is it mostly for person-to-person trading?
lots of people have used it to buy drugs
Coinbase raises $100M Series D led by IVP
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Re: Coinbase raises $100M Series D led by IVP
#12That money would have had better upside if invested in bitcoin directly.
I guess they prefer selling shovels in a gold rush.
Re: Coinbase raises $100M Series D led by IVP
#13How in the bloody hell does Coinbase not fund its own operations with profit??? I figured they made over a $100m every quarter.
Re: Coinbase raises $100M Series D led by IVP
#14Earlier quoted context omitted.
Raise when you don't need it. VCs are desperate to part with cash ("use it or lose it"), and Coinbase probably has the best chance (after perhaps Stripe and Braintree) of becoming the de facto home for the crypto payment/trading industry.
Having cash sounds great, but does this kind of cash create a crutch? $100M seems like a large number for CB, but I don't know enough about its business to understand how far that money goes. Is CB growing very quickly and in what ways? Is CB making money on their own? In order to become the de facto home for crypto payment/trading, what does that mean? Does it mean they need to help make the adoption / use of crypto…
Also, not sure what their position is on ringfencing deposits, but could also be an in-house credit line for immediate liquidity?
Yep - I'd say they need to push into tech to allow mainstream adoption. Being the backend layer to convert crypto to real funds for businesses or payment processors. Talent, partnerships, probably regulatory issues etc...
Re: Coinbase raises $100M Series D led by IVP
#15So I'm late to the digital currency game. What are the regular use cases for digital currency? Who accepts it? Is it mostly for person-to-person trading?
There are some vendors who take it; the New Mexico Tea Company for instance—and I buy tea from them because it's good tea, not because they take Bitcoin (I usually use a credit card to check out anyway).
I have also used it to transfer money to friends, because being able to do that in-browser without involving Paypal seemed pretty great. I would like to get my family using it for this reason too, but most of them are not tech savvy enough to handle it (and some probably would have trouble with Coinbase's verification).
Re: Coinbase raises $100M Series D led by IVP
#16How in the bloody hell does Coinbase not fund its own operations with profit??? I figured they made over a $100m every quarter.
Do we have any source on what is their revenue? I sincerely doubt they are making 100 million in profit every quarter. I would be surprised if they were actually profitable.
Re: Coinbase raises $100M Series D led by IVP
#17So I'm late to the digital currency game. What are the regular use cases for digital currency? Who accepts it? Is it mostly for person-to-person trading?
it's all being sorted out rn, thus the gold rush
Re: Coinbase raises $100M Series D led by IVP
#18So I'm late to the digital currency game. What are the regular use cases for digital currency? Who accepts it? Is it mostly for person-to-person trading?
Use cases (Escaping currency controls,Cannot be seized by government, Asset Speculation, Purchasing legal and illegal things, Money laundering, Donating to people like wikileaks)
Bitpay allows you to use bitcoin with a VISA card https://bitpay.com/
Some merchants accept it, Overstock being a famous one.
Re: Coinbase raises $100M Series D led by IVP
#19Why does Coinbase need another $100M when it's making tons of money with its fees?
Raise when you don't need it. VCs are desperate to part with cash ("use it or lose it"), and Coinbase probably has the best chance (after perhaps Stripe and Braintree) of becoming the de facto home for the crypto payment/trading industry.
Not sure why so many people downvoted you, this is likely their thought process.
Re: Coinbase raises $100M Series D led by IVP
#20Somebody stole my identity and created a Coinbase account with it. I made a ticket on their system over two weeks ago and they haven't even bothered to respond. I'm baffled that such a shady company is able to raise funds like this. I mean, imagine if your bank just one day stopped answering the phone.