Coinbase raises $100M Series D led by IVP • Hacker News Board

Re: Coinbase raises $100M Series D led by IVP

#61

Post by sspring1 » Thu, Aug 10, 2017, 5:45 PM UTC

45h34jh53k4j wrote: post #57

TigerShark5 wrote: post #46

Somebody stole my identity and created a Coinbase account with it. I made a ticket on their system over two weeks ago and they haven't even bothered to respond. I'm baffled that such a shady company is able to raise funds like this. I mean, imagine if your bank just one day stopped answering the phone.

Im sorry this happened, but you might want to get on to their security team, rather than the regular customer support queue. Imagine if your bank suddenly had millions of new clients join in a 2 month period. I think they would stop answering the phone too.

no, they'd answer the phone.

Re: Coinbase raises $100M Series D led by IVP

#62

Post by user5994461 » Thu, Aug 10, 2017, 5:47 PM UTC

TigerShark5 wrote: post #46

Somebody stole my identity and created a Coinbase account with it. I made a ticket on their system over two weeks ago and they haven't even bothered to respond. I'm baffled that such a shady company is able to raise funds like this. I mean, imagine if your bank just one day stopped answering the phone.

Banks are regulated. Bitcoin is avoid regulations on purpose.

Re: Coinbase raises $100M Series D led by IVP

#63

Post by 45h34jh53k4j » Thu, Aug 10, 2017, 5:47 PM UTC

stanmancan wrote: post #35

I'm pretty naive on the subject of Bitcoin so I might be missing something here, but can someone explain to me how it's used right now? Aside from treating BTC like a stock that is. The value of it fluctuates so much that actually buying/accepting it seems incredibly risky. The price can go down just as fast as it goes up. As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I us…

Its also used to purchase other cryptocurrencies. Trades ride the volatility of USD/BTC, as well as the XXX/BTC. In extreme cases you have USD/BTC, BTC/XXX, XXX/YYY!

While there is a large number of LTC, BTC and ETH exchanged for fiat (USD, EUR, RMB, KRW); Most of the trades are between BTC and alts - https://coinmarketcap.com/exchanges/volume/24-hour/

Re: Coinbase raises $100M Series D led by IVP

#64

Post by aresant » Thu, Aug 10, 2017, 5:48 PM UTC

Edit - Moved to comment I was trying to address -

Re: Coinbase raises $100M Series D led by IVP

#65

Post by lightbyte » Thu, Aug 10, 2017, 5:49 PM UTC

ktta wrote: post #47

lightbyte wrote: post #36

Earlier quoted context omitted.

That is not the most recent or biggest news, the largest (by a very wide margin) successor to the Silk Road, AlphaBay, was busted just a month ago [1] [1]: https://www.forbes.com/sites/thomasbrewster/2017/07/20/alpha...

By volume, sure, AlphaBay was definitely a bigger successor, but Silk Road was unprecedented. Something like AlphaBay was inevitable after Silk Road (Next was Hansa, but turns out was already a honeypot by that time). Silk Road was the first to bring forward the notion of how cryptocurrencies can be used for something much more malicious than coffee. The news it made, and with a face to the organization made it a big…

> isn't the all secure operation you think it was

I did not say that at all. Though since you brought it up, the FBI and Dutch Police's explanation for how they busted the site is very suspect. It does not sound legitimate at all, it's much more likely they cracked the site in another (more illegal/unethical) way and used parallel construction to hide what they did.

Re: Coinbase raises $100M Series D led by IVP

#66

Post by 45h34jh53k4j » Thu, Aug 10, 2017, 5:49 PM UTC

ryanlol wrote: post #54

stanmancan wrote: post #35

I'm pretty naive on the subject of Bitcoin so I might be missing something here, but can someone explain to me how it's used right now? Aside from treating BTC like a stock that is. The value of it fluctuates so much that actually buying/accepting it seems incredibly risky. The price can go down just as fast as it goes up. As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I us…

>The value of it fluctuates so much that actually buying/accepting it seems incredibly risky. The price can go down just as fast as it goes up. Why? If someone sends me 1BTC I'll just instantly sell 1BTC, it is tremendously unlikely that I'm gonna get screwed even if there's a 1-2 second delay. >if the value of a BTC is going up, why would I use it to buy anything? Because you want things and not numbers on the inter…

There is no 1-2 second delay tho; bitcoin transactions take 1 hour to confirm. At best, you might have 7 blocks between receiving, sending and being credited on the exchange.

Of course, this is possibly things like Litecoin are more stable as you can 'get in and out' in 15 minutes.

Re: Coinbase raises $100M Series D led by IVP

#67

Post by ryanSrich » Thu, Aug 10, 2017, 5:49 PM UTC

Hopefully they spend all $100mm on support. I've never experienced such bad support.

Re: Coinbase raises $100M Series D led by IVP

#68

Post by icebraining » Thu, Aug 10, 2017, 5:50 PM UTC

stanmancan wrote: post #35

I'm pretty naive on the subject of Bitcoin so I might be missing something here, but can someone explain to me how it's used right now? Aside from treating BTC like a stock that is. The value of it fluctuates so much that actually buying/accepting it seems incredibly risky. The price can go down just as fast as it goes up. As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I us…

As a someone looking make purchases with BTC; if the value of a BTC is going up, why would I use it to buy anything? It's gone up $700 in the last week; up $200 in the last 24 hours alone. I'd feel incredible silly spending bitcoin in a growth phase.

Why do you spend any currency when you can buy Bitcoins instead, let it grow and then sell them back into the original currency?

Any reason you can give applies to spending Bitcoin.

Re: Coinbase raises $100M Series D led by IVP

#69

Post by aianus » Thu, Aug 10, 2017, 5:50 PM UTC

TigerShark5 wrote: post #46

Somebody stole my identity and created a Coinbase account with it. I made a ticket on their system over two weeks ago and they haven't even bothered to respond. I'm baffled that such a shady company is able to raise funds like this. I mean, imagine if your bank just one day stopped answering the phone.

Why aren't you calling your bank then? They can do the chargeback and block future payments for you.

If someone stole my credit card and bought stuff off of Amazon I wouldn't call Amazon about it...

Re: Coinbase raises $100M Series D led by IVP

#70

Post by sctb » Thu, Aug 10, 2017, 5:50 PM UTC

TigerShark5 wrote: post #46

Somebody stole my identity and created a Coinbase account with it. I made a ticket on their system over two weeks ago and they haven't even bothered to respond. I'm baffled that such a shady company is able to raise funds like this. I mean, imagine if your bank just one day stopped answering the phone.

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