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Coinbase from YC to DPO

blog.ycombinator.com

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Re: Coinbase from YC to DPO

#741

Post by smnplk »

joering2 wrote: post #696
deviation wrote: post #667

Earlier quoted context omitted.

Credit to him for following through with his vision, and standing his ground in his replies to all the comments in that thread. Looking back now, it's certainly evidence of a group bias and the "If the opportunity was that great, X company would be doing it by now" way of thinking. Props are owed for bringing some true innovation to the space. I'd love to know how this turned out. Did he eventually find a co-founder?…

How did he follow thru with his vision? Read his other comments to get better picture - he was angry at the system of Credit Cards, PayPals etc that charge outraged fees just to be able to use their network. He wanted to build network that performs exchange at zero fee. Instead, he ended up building and owning one of the most expensive crypto exchanges in the USA. Sure props to him to pull it off, you don't get net w…

>> but in terms of his vision of the world more united where it is easier to send and receive money without paying outrages fees, he definitely failed on that promise. It was Bitcoin that failed to deliver that promise, not him.

Re: Coinbase from YC to DPO

#742

Post by renewiltord »

dd36 wrote: post #731
sneak wrote: post #640

Earlier quoted context omitted.

I spoke to him on the phone within a few hours of that post, as I had already prototyped an app to do what was described. I didn't launch mine, nor participate in his (obviously). I suggested that a business in that space, if successful, would result in a similar outcome as happened to other founders of international money transmission systems that weren't under direct government control: i.e. swatting. He was not di…

If the last few decades tell us anything, it’s once you’re large and have a lot employees, you’re above any regulation that would put you out of business. Slaps on the wrist are the worst you can expect.

Backpage was pretty big when it was deep sixed by the Feds.

Re: Coinbase from YC to DPO

#744

Post by eloff »

bhupy wrote: post #728
eloff wrote: post #704

Earlier quoted context omitted.

Thanks for sharing, I was unaware of that. Capital > labor, still. But I guess not as badly as I thought.

It's actually debatable if capital is even > labor. https://taxfoundation.org/labor-share-net-income-within-hist...

Also interesting. Although I mean in this case that I'd much rather be capital than labor if I had the choice.

Re: Coinbase from YC to DPO

#745

Post by dougSF70 »

aphextron wrote: post #407
paulpauper wrote: post #346

Earlier quoted context omitted.

also airbnb is not dependent on the value of a speculative asset. There will always be demand for rentals.

>also airbnb is not dependent on the value of a speculative asset. What do you think US real estate is?

Exactly! Airbnb is rent-seeking. Not adding any value just controlling and asset for yield. Same as Bitcoin and other crypto, pure speculation and the product of a decade of government money presses keeping inflation low.

Re: Coinbase from YC to DPO

#747

Post by xvilka »

thinking12333 wrote: post #725
olalonde wrote: post #606

Fun trivia: Brian Armstrong was looking for a co-founder on HN back in 2012: https://news.ycombinator.com/item?id=3754664

Amazing to see. But what I find interesting is that his vision was way off- crypto is nowhere near replacing credit cards, now or in the future. But he did build a huge company because crypto became a speculative asset bubble instead.

> crypto is nowhere near replacing credit cards, now or in the future.

Bitcoin - not. On the other hand, modern altcoins who are faster, PoS-based, low fees, etc are on the path to exactly this.

Re: Coinbase from YC to DPO

#749

Post by [deleted] »

thinking12333 wrote: post #725
olalonde wrote: post #606

Fun trivia: Brian Armstrong was looking for a co-founder on HN back in 2012: https://news.ycombinator.com/item?id=3754664

Amazing to see. But what I find interesting is that his vision was way off- crypto is nowhere near replacing credit cards, now or in the future. But he did build a huge company because crypto became a speculative asset bubble instead.

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