This looks like the perfect tool for counterfeiting credit cards. Pay my bill at the restaurant, in about 20 seconds, the server can have my card ready for action on their coin.
Coin: A step in the wrong direction
191–193 of 193 posts
Re: Coin: A step in the wrong direction
#192Earlier quoted context omitted.
Github solves a problem that I don't have, but that doesn't mean it's a bad product right? Not to argue with you specifically, but the concept of "solves a problem I don't have" isn't really an issue. I use Uber frequently because I don't drive (NYC), you may not if you have a car. Is Uber a shitty company? Nope, its pretty awesome, but it solves a problem for a small subset of people. Same with Coin. I highly doubt…
> its pretty awesome, but it solves a problem for a small subset of people. Same with Coin. I highly doubt YC would have taken on coin if they didn't have a large market to go after. Not to quibble, but you have some contradictions lurking in there. On one hand, you're saying that, like Uber, Coin solves a problem for a small subset of people. OTOH, you're saying that they are addressing a big market. It's an importa…
"Small subset of people" contradicts a "big market"? Assuming $50 per coin, they have $50M of revenue if they have 1M buyers. $500M revenue for 10M buyers. 10 times revenue multiple, and you are looking at a $500M-$5B company.
Re: Coin: A step in the wrong direction
#193Earlier quoted context omitted.
> its pretty awesome, but it solves a problem for a small subset of people. Same with Coin. I highly doubt YC would have taken on coin if they didn't have a large market to go after. Not to quibble, but you have some contradictions lurking in there. On one hand, you're saying that, like Uber, Coin solves a problem for a small subset of people. OTOH, you're saying that they are addressing a big market. It's an importa…
"Small subset of people" contradicts a "big market"? Assuming $50 per coin, they have $50M of revenue if they have 1M buyers. $500M revenue for 10M buyers. 10 times revenue multiple, and you are looking at a $500M-$5B company.
Well, I don't consider 10M buyers a small subset of people.
In any event, "small subset" vs. "large market" are the parent's words. And, yes, of course a product that is aimed at a small subset of the market is the opposite of a product that is aimed at a large market. So, it contradicts, as you say.
These are relative terms that speak to the size of the market being addressed, so by definition small vs. large are opposites.
Perhaps the parent meant to say a "small, but profitable market".