Bitcoin Forum

 Coinbase got 20mil+ investment today. What  does that mean for BTC?

"We are averaging 10,000 new customer sign-ups a day..." http://blog.coinbase.com/

In the past I'd be thinking 'if I were an accredited investor I'd be able to get some shares in their IPO someday'... instead I can just buy a Bitcoin today! I'll be using Coinbase this weekend for some holiday shopping. Plan on replacing whatever Bitcoins I spend with a purchase of Bitcoins as soon as I spend them.

Not much, just VCs like to invest in new technologies.

Actually it does have a lot of meaning.  Highly paid people big name VC firms hire to evaluate new technology like it.  This is much better than some blogger or financial writer giving their opinion on why bitcoin will or won't work.

 I'm  scared to death to get BTCs and their price going down before exchanging them.

Napster raised around $100 million from VCs in 2000, closed a year later...

I'm scared to death of not getting BTCs before their price goes up.

You've got a point. While ago I bought BTC @ $10. When it got to $110 i sold it all :(

They believed that they could make a deal with the record labels that would be a massive boon for both parties.  They failed to consider how spiteful, unimaginative and self-destructive the music industry is.

If you are always holding 1 bitcoin and replace back to 1 as soon as you spend it, what's there to be scared about?

I have to buy more  real merchandise to resell *in dollars*. I don't trade BTC, I sell computers.

I'm not saying bitcoin is 100% going to succeed. What I'm saying is there are 1000s of articles out there and people giving opinions on why bitcoins will or won't make it.  The research by big time VCs are going to be much better than the average blogger, "Oh bitcoins are like tulips" article.  It does help the cred when VCs fund it.

VC firms take punts all the time. Some pay off, some don't. My question is what  Coinbase needs $25M for? Comfy chairs?  :)

They are probably using it to :
a) Gain regulatory approval in all 50 states
b) Invest in a Sales team(similar to Bitpay) to increase merchant adoption

You multiplied your investment by 10, I wouldn't worry about it. I learned about btc when the price was $100 and sold all at $300. Then bought back again around 500  ;D

It's just a wild ride... lol

If they need investement, they are doing something wrong. With curent trade volume, BTC-E is making something around 10 mio. monthly on fees.

If they will be able to sell bitcoins not only to people with the accounts in U.S. banks as it is now but also to banks in other countries as well as fully employ other payment methods (e.g. payment cards), then this will surely have a positive effect on bitcoin. Though I don't really know if the investment they got could actually help them change anything in this respect...

Why is that? Not enough? How much more would they need, in your opinion?

I was referring to possible legal problems they might inflict upon themselves from authorities (money laundering, terrorism financing and all that shit). So it is not actually a question of how much...

Yeah but there is huge amount of trading goes on at btc-e. Does coinbase even offer a trading platform?

I see.
Thanks, I like reading your opinion.

ouch, hopefully it was only a few btc?

  :)

Fortunately yes. Just a couple I bought as curiosity in 2011.

Your efforts are much appreciated by those who want to get on board. Don't be sad, you are somehow helping the community to get stronger.

Thanks!

That was a good move. You made 10x on your investment. Any logical person would sell at 10x given a risky investment like bitcoin. Most who held already had money with nothing to lose, were involved in the mining of it, believed in it deeply, or just forgot about their coins. I believe in it now but at the time when it was really knew I was definitely more skeptical. There was not as much information at the time as there is now.

I had 2000 a few years back and no way would have held til today. I doubled my money and got out. Hindsight is easy. There is no way Im kicking myself. Most people benefited nothing. I suggest you be proud of investing in bitcoin at all and profiting!

this is just a heads up  You can go on bitcointalk and look up behemot, he deleted his account the second he got caught scamming.
Hey, just so you know I would just like to point out, that Behemot has been actively trying to scam people on localbitcoins via paypal, I would show his feedback, heads up  but once he was caught, he deleted his localbitcoins account,sorry if it happened to you too and after talking to local bitcoins, they confirmed that he was indeed making fraudulent chargebacks with stolen paypal accounts. heads upSo just a heads up if anyone were to do trades with Behemot, he has the potential to scam if he has the chance, and he will if he has the chance, I unfortunately got scammed by him, and do not wish this upon anyone else, thanks. heads up