Facebook Security Director Joins Bitcoin Startup Coinbase

Post by hendzen » Thu, Mar 20, 2014, 2:04 AM UTC

Curmudgel wrote: post #18

hendzen wrote: post #12

I'll be honest, I am a Bitcoin fan. But I realize there is a relatively large chance that it might just fail entirely (or only be used by criminals and just be regulated to death). Venture Capital investment in Bitcoin has been fairly massive - and from many top tier VCs e.g. a16z, USV & Accel (but notably not Sequoia nor Greylock). Some key investments: 75m for Coinbase, 20m for Xapo, 9m for Circle (still haven't la…

> Its going to be interesting to see what happens when either the US economy takes a dump, or interest rates rise and VC funding dries up... We just had a financial crisis 6 years ago in which the U.S economy "took a dump" and caused a global panic/recession/depression (pick your favorite euphemism). Investors poured their money into Treasury bills, and in such numbers that in 2008, monthly T-bill rates were actually…

Post by hendzen » Thu, Mar 20, 2014, 2:20 AM UTC

wmf wrote: post #21

hendzen wrote: post #12

I'll be honest, I am a Bitcoin fan. But I realize there is a relatively large chance that it might just fail entirely (or only be used by criminals and just be regulated to death). Venture Capital investment in Bitcoin has been fairly massive - and from many top tier VCs e.g. a16z, USV & Accel (but notably not Sequoia nor Greylock). Some key investments: 75m for Coinbase, 20m for Xapo, 9m for Circle (still haven't la…

Bitcoin is respectable technology compared to the excesses of the first dotcom boom. Any VCs who are worried about embarrassment have probably left the building long ago. http://www.cdixon.org/2010/01/03/the-next-big-thing-will-sta...

Post by kylebrown » Thu, Mar 20, 2014, 2:23 AM UTC

teacup50 wrote: post #15

gnaritas wrote: post #4

Earlier quoted context omitted.

Most people aren't going to want to hold their own keys as most people can't stop their computers from being constantly infected by malware. Just as people don't want to keep large amounts of cash in their safe, they will want someone else to take the responsibility of securing their coin. Pretty much only the tech savvy will care to even understand what a key is or care to hold their own. Bitcoin isn't a political m…

Bitcoin with central key escrow is completely and utterly pointless, unless the goal is to generate a lot of waste heat from servers. > Most people aren't going to want to hold their own keys as most people can't stop their computers from being constantly infected by malware. We have cheap, secure hardware crypto tokens that rely on two-factor auth. You don't need to keep millions of dollars on a Windows PC. > Just a…

Post by astrowilliam » Thu, Mar 20, 2014, 2:39 AM UTC

Post by sillysaurus3 » Thu, Mar 20, 2014, 2:47 AM UTC

astrowilliam wrote: post #28

I'm a fan of BTC and use coinbase as my central wallet of choice. Super excited about this news. I recently switched from regular banner advertisements on my site ( http://www.spaceindustrynews.com ) - cheap plug - to taking BTC donations. The BTC community has been amazingly supportive throughout the whole thing.