They started spamming me three days ago but I have no idea where they got my email from...
Coinbase acquires Earn.com
21–30 of 168 posts
Re: Coinbase acquires Earn.com
#2221.co, now named Earn.com raised 100M dollars, but the rumor is A16Z used that money to directly buy BTC for their VC fund without making too much noise. Coinbase didn't buy them for 100M, but the VC's at A16Z might be sitting on a billion dollars if they invested in BTC when 21.co was started. Anyone else hear about this rumor?
I can believe it. I think A16Z is also an investor in Coinbase.
Definitely seems like some insider dealing. Especially considering Earn.com seems like a very immature (bordering on useless) product.
Also another example of a startup having more money then they know what to do with and not returning it to shareholders.
Re: Coinbase acquires Earn.com
#2321.co, now named Earn.com raised 100M dollars, but the rumor is A16Z used that money to directly buy BTC for their VC fund without making too much noise. Coinbase didn't buy them for 100M, but the VC's at A16Z might be sitting on a billion dollars if they invested in BTC when 21.co was started. Anyone else hear about this rumor?
21.co / earn.com is a serial flop, pivoting markets and functionality multiple times. I wouldn't be surprised if the funding was simply a way to secretly do something. Nefarious or not.
Re: Coinbase acquires Earn.com
#2421.co, now named Earn.com raised 100M dollars, but the rumor is A16Z used that money to directly buy BTC for their VC fund without making too much noise. Coinbase didn't buy them for 100M, but the VC's at A16Z might be sitting on a billion dollars if they invested in BTC when 21.co was started. Anyone else hear about this rumor?
This explainantion doesn't make sense. You're alledging a16z funded 21.co with $100M, then took it all back to buy Bitcoin? If that's the case earn.com would own the BTC, which would mean Coinbase acquired all the BTC held by earn.com Unless there is something I'm missing, this almost certainly did NOT happen
Mind you the founder of 21.co was/is a partner at a16z.
Remember these people don't play by the normal rules as everyone else - so while there may not hard evidence, it is entirely plausible.
Re: Coinbase acquires Earn.com
#25Earlier quoted context omitted.
There is nothing interesting coming out of cryptocurrency space other than ICO spam
How did this become religion on HN? Interesting things in crypto-blockchain tech, today: * Origin * NuCypher (disclaimer: I'm on this team) * Loki * New version of web3.py / other python tooling becoming mature * Trustless Quorums * Distributed validation I can go on and on. But I just don't see how anybody can think that these are uninteresting times for this tech.
I’ve checked NuCypher’s homepage and I find a bit strange to have that much emphasis on the blockchain on your homepage and at the same time only 5 occurrences of the word "blockchain" in your 21-pages whitepaper. Am I missing something?
Re: Coinbase acquires Earn.com
#2621.co, now named Earn.com raised 100M dollars, but the rumor is A16Z used that money to directly buy BTC for their VC fund without making too much noise. Coinbase didn't buy them for 100M, but the VC's at A16Z might be sitting on a billion dollars if they invested in BTC when 21.co was started. Anyone else hear about this rumor?
I can believe it. I think A16Z is also an investor in Coinbase. Definitely seems like some insider dealing. Especially considering Earn.com seems like a very immature (bordering on useless) product. Also another example of a startup having more money then they know what to do with and not returning it to shareholders.
Insider trading only applies to publicly traded companies.
Re: Coinbase acquires Earn.com
#27Earlier quoted context omitted.
There is nothing interesting coming out of cryptocurrency space other than ICO spam
How did this become religion on HN? Interesting things in crypto-blockchain tech, today: * Origin * NuCypher (disclaimer: I'm on this team) * Loki * New version of web3.py / other python tooling becoming mature * Trustless Quorums * Distributed validation I can go on and on. But I just don't see how anybody can think that these are uninteresting times for this tech.
Claims that a previously-hyped technology is now uninteresting are pretty standard for this phase of the hype cycle.[1]
Of course, the fact that other technologies have gone through both a peak and trough before settling between them isn't confirmation that any particular technology will. (I bet Theranos won't rebound.) It should cause one to discount the sheer volume of disillusionment, where not accompanied by evidence, just as one should previously have discounted the volume of hype.
Re: Coinbase acquires Earn.com
#28I am now seriously worried about Coinbase after this baseless acquisition.
Re: Coinbase acquires Earn.com
#2921.co, now named Earn.com raised 100M dollars, but the rumor is A16Z used that money to directly buy BTC for their VC fund without making too much noise. Coinbase didn't buy them for 100M, but the VC's at A16Z might be sitting on a billion dollars if they invested in BTC when 21.co was started. Anyone else hear about this rumor?
So you're saying that 21.co/Earn.com bought BTC with some of the invested capital, held it as BTC rose, and then distributed it to its shareholders? One of which is A16Z. This seems possible, because, as we know, the price of BTC has fallen recently from ~$16k to ~$7k. So the gains could be large if they did indeed buy BTC with some of the capital they raised, but probably not $1 billion, or at least I would guess ag…
I mean we can run through the math. In March of 2015, 21.co/Earn.com raised $115m from a16z.
In June of 2015, the price of BTC was about $240 each.
If we assume half the investment went into bitcoin, it means they acquired $115m/2/($240/BTC) = ~240,000 BTC
At today's price of $8000/BTC, assuming they never sold, those coins would be worth $1.9B. So it is plausible they hold more than $1B in bitcoin.
Re: Coinbase acquires Earn.com
#30Earlier quoted context omitted.
How did this become religion on HN? Interesting things in crypto-blockchain tech, today: * Origin * NuCypher (disclaimer: I'm on this team) * Loki * New version of web3.py / other python tooling becoming mature * Trustless Quorums * Distributed validation I can go on and on. But I just don't see how anybody can think that these are uninteresting times for this tech.
I’ve checked NuCypher’s homepage and I find a bit strange to have that much emphasis on the blockchain on your homepage and at the same time only 5 occurrences of the word "blockchain" in your 21-pages whitepaper. Am I missing something?
VCs read pitch decks, not whitepapers