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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?
How in the bloody hell does Coinbase not fund its own operations with profit??? I figured they made over a $100m every quarter.
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?
As a nitpick the proper term is "cryptocurrency", not "digital currency". A cryptocurrency does not necessarily have to be stored or generated digitally.
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?
Depends on the currency. Bitcoin is largely just currency, but things like Ethereum introduce concepts such as smart contracts. Here's an article explaining Ethereum, but obviously there are tons of cryptocurrencies now that all work in their own way. https://thenextweb.com/contributors/2017/08/10/ultimate-2000...
How 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.
That money would have had better upside if invested in bitcoin directly.
That claim seems to require the ability to know the future. Bitcoin may eventually be superseded by a superior alt coin, and disappear into history.
Earlier 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.
Makes sense, but I don't love how they handled the whole Bitcoin split.
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
If you don't want such a verbose story, Ars Techica follwed it well too[2]
[1]: https://www.wired.com/2015/04/silk-road-1/ https://www.wired.com/2015/05/silk-road-2
That money would have had better upside if invested in bitcoin directly.
Are you saying that the investors would get a better return on their investment if they had instead simply purchased bitcoins? That claim seems to require the ability to know the future. Bitcoin may eventually be superseded by a superior alt coin, and disappear into history.