Hopefully they spend all $100mm on support. I've never experienced such bad support.
What type of support?
Coinbase raises $100M Series D led by IVP
161–170 of 242 posts
Re: Coinbase raises $100M Series D led by IVP
#162I'm pretty naive on the subject of Bitcoin so I might be missing something here, but can someone explain to me how it's used right now? Aside from treating BTC like a stock that is. The value of it fluctuates so much that actually buying/accepting it seems incredibly risky. The price can go down just as fast as it goes up. As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I us…
Can I get a bank account which works like a normal bank- accepts EFTs in dollars, has a debit card which pays in dollars, but where my balance is stored in BTC and everything is exchanged to/from BTC at the current rate on the fly? With enough of a balance, it seems like I'd be able to weather any fluctuations in the exchange rate and my funds would for the most part appreciate at a much greater rate than the measly…
Have a look at Revolut - they're adding Bitcoin, Ethereum and Litecoin as holding currencies in the coming weeks.
Re: Coinbase raises $100M Series D led by IVP
#163With this trading frenzy on gdax and on coinbase itself, why do they need round D? They are charging hefty fees on coinbase, and some fees on gdax too. It's "pure play" , there's no fixed real world expenses
Re: Coinbase raises $100M Series D led by IVP
#164I'm pretty naive on the subject of Bitcoin so I might be missing something here, but can someone explain to me how it's used right now? Aside from treating BTC like a stock that is. The value of it fluctuates so much that actually buying/accepting it seems incredibly risky. The price can go down just as fast as it goes up. As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I us…
" As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I use it to buy anything? It's gone up $700 in the last week; up $200 in the last 24 hours alone. I'd feel incredible silly spending bitcoin in a growth phase. " If it goes up so much, isn't it incredibly silly for you to not buy any? See, the reason why you haven't bought BTC yet is the same reason why BTC is still used to b…
Your CPA accepts bitcoins?
Re: Coinbase raises $100M Series D led by IVP
#165Earlier quoted context omitted.
>The value of it fluctuates so much that actually buying/accepting it seems incredibly risky. The price can go down just as fast as it goes up. Why? If someone sends me 1BTC I'll just instantly sell 1BTC, it is tremendously unlikely that I'm gonna get screwed even if there's a 1-2 second delay. >if the value of a BTC is going up, why would I use it to buy anything? Because you want things and not numbers on the inter…
There is no 1-2 second delay tho; bitcoin transactions take 1 hour to confirm. At best, you might have 7 blocks between receiving, sending and being credited on the exchange. Of course, this is possibly things like Litecoin are more stable as you can 'get in and out' in 15 minutes.
You don't need to move the coins to an exchange to effectively lock in an exchange rate for them.
Re: Coinbase raises $100M Series D led by IVP
#166Earlier quoted context omitted.
Can you elaborate on how that is going to happen? Not trying to flame, I can see a world where people use BTC for everything, but I am confused at how that will happen with current valuation. BTC is worth thousands of dollars, so if everyone starts using BTC will people pay irrational fractions of BTC for bread and milk at the supermarket? will there be some adjustment? How will other entities handle conversion and e…
I'm not an expert on BTC or anything. In fact I'm not even long on BTC. I don't think it will work in the long term. That said I'm just answering questions as I understand them: > BTC is worth thousands of dollars, so if everyone starts using BTC will people pay irrational fractions of BTC for bread and milk at the supermarket? will there be some adjustment? The block chain supports values as small as 0.00000001 BTC…
>There will be no single event, over time people will simply
not use their local currency any more in favor of BTC.
Slowly, over time, the population will lose trust in fiat
and gain trust in BTC. This may occur over decades or more.
(Consider: is what they're telling you based on their current investments that they'll sell off after you've bought in? Now think of what happens when a hedge fund, or other early adopter who has acquired several thousand coins or if there's whales who've traded their way to now own %10 of the coin supply in the network. What happens if they divest and crash the 'value' of this coin 'investment'?)
The great thing about cryptocoins is you can create an improved protocol and if it's better then previous protocols, the users will migrate.
There's a lot of misinformation flying around because people are trying to spam their investments into their cryptocoin service networks which they've bought into (or engineered a marketing pump and dump scam, i.e. premined ICOs like antshares) in hopes that they can later sell at excessively inflated prices because of some arbitrarily limited "supply" which a programmer just typed into the software running their network.
Re: Coinbase raises $100M Series D led by IVP
#167Re: Coinbase raises $100M Series D led by IVP
#168Earlier quoted context omitted.
" As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I use it to buy anything? It's gone up $700 in the last week; up $200 in the last 24 hours alone. I'd feel incredible silly spending bitcoin in a growth phase. " If it goes up so much, isn't it incredibly silly for you to not buy any? See, the reason why you haven't bought BTC yet is the same reason why BTC is still used to b…
Your CPA accepts bitcoins?
Re: Coinbase raises $100M Series D led by IVP
#169I'm pretty naive on the subject of Bitcoin so I might be missing something here, but can someone explain to me how it's used right now? Aside from treating BTC like a stock that is. The value of it fluctuates so much that actually buying/accepting it seems incredibly risky. The price can go down just as fast as it goes up. As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I us…
Bitcoin purists will say that, eventually, there is no "cash out" phase. 1 BTC = 1 BTC and who cares about what the dollar equivalent happens to be. Once everything is in BTC you will never exchange it for dollars. Do you spend dollars today wondering if tomorrow the Euro will be worth more or less? No, so why would you care what the dollar equivalent to a BTC is when everything you buy is priced in BTC? This is long…
> Do you spend dollars today wondering if tomorrow the Euro will be worth more or less? No, so why would you care what the dollar equivalent to a BTC is when everything you buy is priced in BTC?
Moving the analogy a bit: everything we buy is priced in Reais. However, we still care if tomorrow the Dollar is worth more or less, since it does impact the price of several kinds of goods. For instance, the Dollar increasing in value will lead to computers getting more expensive.
In the same way, even if everything were to be priced in Bitcoins, the exchange rate between Bitcoin and USD would still be significant, unless and until the USD ceased to exist.
Re: Coinbase raises $100M Series D led by IVP
#170lots of people have used it to buy drugs
what an absolutely worthless comment. you should be almost as ashamed as me for posting this comment.