$116 million is an impressive number, I think they are the best funded bitcoin start up ever.
Yep it is i think, great news. This could be it guys hold onto your hats. Geez wake up man. It's not a bitcoin start up, they will just use the blockchain idea for their own products, not bitcoin or its network. Yea, you're right. They just chose the name "21e6" because it's really catchy!  |
|
|
|
This may seem like a big deal for bitcoin, however, it's not.
They will use the blockchain technology for their own products and leave bitcoin hanging in the cold.
Don't expect this to be relevant to the bitcoin economy.
Interesting startup though.
I mean I don't see any negative at all, this is beneficial to all parties involved, especially to the Bitcoin economy. How do you expect to get Bitcoin "the idea running", if no one's running it. That's like saying it sucks that all these devices and handhelds running OSX and Android OS'es use Linux based operating system. That it's diluted and bastardized. Don't be run of those hard stance draw a line in a sand guys. Bitcoin won't survive without funding and development and main streaming. This is great news period. |
|
|
|
Maybe tell those dudes to grab a money transmitter license like they're supposed to.  J/K, we're still in the Wild Wild West phase of Bitcoin, shit happens, people go down when your trying to build something. I'll let BurtW know if the federal government ever lets us talk to him again. When Bitcoin becomes MasterCard I'll move on to something else. There are lots of federally regulated investment opportunities in the wild. Bitcoin is unnecessary for that purpose. It sucks what happened to BurtW, but please let's not drag that into this thread. Bitcoin will never become MasterCard, Bitcoin isn't a company or Financial Institution. This isn't an either or situation. You can't have Bitcoin thrive or survive, and no one pays the bills to keep the lights on and electricity running. Even Linux wouldn't be where it is today without Android OS which is owned by Google, probably the largest centralized force in the universe. Need to play both sides of the coin to be viable, there's no hard stance needed to be taken. |
|
|
|
Maybe tell those dudes to grab a money transmitter license like they're supposed to. J/K, we're still in the Wild Wild West phase of Bitcoin, shit happens, people go down when your trying to build something. |
|
|
|
Very interesting. I would like to know more about exactly what it is they're trying/planning to do.
With Qualcomm in the mix, one could gather some sort of "smart" devices that utilize Bitcoin Blockchain tech. Maybe wallets, maybe point of sale, maybe NFC devices, maybe vending machines, maybe everyday appliances. The cool part is the brilliant people involved. The people that founded PayPal and Ebay and Netscape Navigator and Dropbox and Expedia and Zynga...this all isn't by accident.  |
|
|
|
$116 million is an impressive number, I think they are the best funded bitcoin start up ever.
Yup, more than the NYSE/BBVA one for $75mill. Some how I get the feeling it's not garnering the press it deserves, but at least Barry is Retweeting it!!  https://twitter.com/barrysilbert/status/575294815560167425 |
|
|
|
Welcome to the forum BTCist! Glad to have you aboard. If you have any questions relating to Bitcoin, you've come to the right place. As long as you don't ask the same question that's been posed a hundred times, and do a search and google before asking. May your Crypto adventures bring fruitful BTC to your doorstep.  |
|
|
|
We on our ways fellas... http://blogs.wsj.com/digits/2015/03/10/secretive-bitcoin-startup-21-reveals-record-funds-hints-at-mass-consumer-play/For the past year and a half, a Silicon Valley startup has quietly convinced some of the biggest names in venture capital to back its effort to turn the technology behind bitcoin into a mass-marketed phenomenon.
Now, that company, which bears the name 21 Inc., is emerging from stealth to announce it has raised $116 million in venture funding, the most ever by a startup in the digital-currency sector, based on data from bitcoin news service Coindesk.
What it’s not yet publicizing is the precise nature of its operations, Chief Executive and co-founder Matthew Pauker will only say there will be “several interesting developments over the next weeks and months” about software and hardware products designed “to drive mainstream adoption of bitcoin.”
Since its launch six years ago by a mysterious coder who used the presumed pseudonym of Satoshi Nakamoto, bitcoin has drawn media attention as a wildly volatile digital currency. But amid stories of scandal, theft and turbulent prices, the general public has largely ignored the arguments of vocal supporters, who tout the digital currency’s potential to cut costs by removing middlemen from finance and commerce.
According to Silicon Valley investors such as those taking stakes in 21, say that failure to gain mass adoption is partly because the public’s attention has been misguidedly focused on bitcoin’s limited potential as a digital alternative to traditional currencies. In reality, they say, its underlying technology has far wider applications than that. Unlike the currency transactions that are generally associated with bitcoin, these new uses could range from lawyer-free smart contracts to tamper-proof online voting systems.
21’s lead investors include U.S. venture-capital heavyweights Andreessen Horowitz and RRE Ventures, along with Chinese private-equity firm Yuan Capital, with a strategic stake going to chipmaker Qualcomm Inc.QCOM +0.49% through its venture-capital unit.
Additionally, Khosla Ventures and Data Collective have invested in 21, as well as chief executives and founders from various tech companies, including PayPal co-founders Peter Thiel and Max Levchin, eBay Inc. co-founder Jeff Skoll, Dropbox Inc. CEO Drew Houston, Expedia Inc. CEO Dara Khosrowshahi and Zynga Inc. co-founder Mark Pincus.
Mr. Pauker said Qualcomm’s involvement is key. He hopes to exploit the Bridgewater, N.J., chipmaker’s mass-marketing and production capabilities in the development of a suite of consumer products that integrate with bitcoin’s core technology called the “blockchain.” This technology takes the form of a public, digital ledger that’s maintained by a decentralized network of thousands of independently owned computers.
Qualcomm’s involvement could spur speculation that 21 has its sights on the so-called “Internet of Things.” That’s the idea that a myriad of smart, Internet-connected appliances will in the future communicate with servers, networks and each other to optimize their operation, maintenance and energy usage without direct human involvement.
Some developers believe that bitcoin technology could play a key role in transparently managing the vast flow of information generated by these smart gadgets. The decentralized blockchain ledgers are free from the control of any one party, so smart appliances can in theory connect with computers built by other entities safely without worrying that the information was manipulated.
Starting out under the earlier name of 21e6, the company – which takes its name from the 21-million limit that bitcoin’s managing algorithm imposes on the total number of bitcoins to be released – spurred intense speculation in November 2013, when a regulatory filing revealed a $5 million fundraise.
Members of the bitcoin community speculated about a secret vehicle for Silicon Valley elites to develop high-powered equipment that could dominate bitcoin mining. Mr. Pauker’s comments about a consumer focus suggest that isn’t where the company has ended up.
The initial secrecy around 21 was “solely for pragmatic reasons – we didn’t have anything to say to the world,” – says co-founder Balaji Srinivasan, who is also a partner at Andreessen Horowitz. He compares 21’s work in building bitcoin products for the general public to the sequential development of 56-kilobit Internet modems, international fiber cables and wireless Internet towers, which all helped bring the Internet into people’s homes in the late 1990s.
This notion also has parallels with the mass Internet appeal achieved in the 1990s by the development of the Netscape browser by Marc Andreessen, a co-founder of Mr. Srinivasan’s firm. Asked for his views on 21, Mr. Andreessen said it “is working on what they — and we — consider to be core infrastructure for mainstreaming bitcoin.”
21’s announcement extends this year’s upswing in venture capitalists’ digital-currency investments, highlighted by January’s $75 million fundraising for San Francisco-based bitcoin wallet provider Coinbase Inc., whose investors include the New York Stock Exchange. Bitcoin-focused venture capital more than tripled to $347 million in 2014 from a year earlier, according Coindesk.
The money flow is paving the way for products and services aimed at transitioning bitcoin from its volatile, Wild West beginnings into an era of more secure infrastructure and mass appeal.
A week after its funding announcement, Coinbase unveiled the first licensed U.S bitcoin currency exchange. Later, high-tech security company BitGo Inc. launched a unique insurance program, while the New York-based Digital Currency Group’s Bitcoin Investment Trust earned regulatory approval to become the first publicly offered fund dedicated to owning bitcoin.
Well-funded custodial and financial services companies Xapo Ltd. and Circle Internet Financial Ltd. have also developed high-tech security and insurance projects. Meanwhile, San Francisco startup BitFury Holding BV has launched new, high-powered chips to take bitcoin mining to a new level of intensity.
None of this will matter if bitcoin doesn’t achieve mass adoption, says Mr. Pauker.
“Bitcoin is going to change the way that people and businesses and even machines interact with each other,” he says. “But for bitcoin to realize that vision we need mass adoption. It can’t just be for Silicon Valley.” This is great under the radar news, mainly because only the silicon valley giants really know what 21 is all about. Knowing that so many brilliant people and companies are supporting and investing in this secretive company is going to be truly ground breaking. Can't wait to see what type of smart appliances or gadgets 21 comes up with, that will get the masses flocking to get a peek at this new Bitcoin centric tech. |
|
|
|
that story has not hit on twitter, when it does I expect price to rise!
21 is old news. they are already on the network, mining. not mining. Members of the bitcoin community speculated about a secret vehicle for Silicon Valley elites to develop high-powered equipment that could dominate bitcoin mining. Mr. Pauker’s comments about a consumer focus suggest that isn’t where the company has ended up.
The initial secrecy around 21 was “solely for pragmatic reasons – we didn’t have anything to say to the world,” – says co-founder Balaji Srinivasan, who is also a partner at Andreessen Horowitz. He compares 21’s work in building bitcoin products for the general public to the sequential development of 56-kilobit Internet modems, international fiber cables and wireless Internet towers, which all helped bring the Internet into people’s homes in the late 1990s.
old news https://bitcointalk.org/index.php?topic=334759.0here it says they took 5 mil. so I call bs. Searching SEC forms, we find they raised $5 million: http://marketbrief.com/21e6-llc-form-d-sec-filng-000001nice try though. Not old news: https://www.crunchbase.com/organization/21e6 Nice try though. |
|
|
|
That is f#cking bullish ass muthf#ckin news right there! Wow, and I thought the $75 mill NYSE dumped onto Coinbase was investing...this is taking it to another level. Very encouraging overall, just the amount of interest that's been gathering the last couple years. |
|
|
|
First you have to pay attention to a thing called "Activity" that's next to your forum name on the left side. Every 2 weeks your activity goes up. Once you get to a certain level, you can start joining some Signature Campaigns. https://bitcointalk.org/index.php?topic=178608.0Once you're at least Full Member status, you can join the best paying one Bit-X over here as long as you have positive trust and don't spam posts: https://bitcointalk.org/index.php?topic=877765.0Good luck, and keep at it! |
|
|
|
I'm earning 0.00014 BTC as we speak posting this message. Sig campaigns are great for supplemental income doing what you normally do. |
|
|
|
Do you have any reason to think this or is it just because I think it will?
Just got that feeling. The feelz. I'm with you Man! Sometimes the gut knows what the gut knows. $350 on Sunday, book it!  |
|
|
|
What's happening to this place? So unrecognizable right now...   |
|
|
|
|
So, uh...correct me if I'm wrong, but did you have a Question you needed an answer to?
Or do you just know everything already about Crypto and Bitcoin, and are just posting as an exercise.
There are alot of knowledgeable people in this forum, and depending on your question, would be glad to help you out.
If it's the same, "How do I make money with Bitcoin? Is Bitcoin a Ponzi? Are faucets worth it? What's the best Bitcoin wallet? How do I make Bitcoin for free? Will Bitcoin reach $1million? What's the best cloud mining website?" If you're going to ask these questions, prepare for some snarky and annoyed remarks. Shows you're lazy and don't do your own research, don't know how to use Google or search.
If you have a legitimate question that you couldn't find the answer easily, someone here in Bitcointalk would be glad to help give you the answer.
|
|
|
|
Easy answer. HODL some more!  Sure, I'd offload a couple here and there, buy a nice dinner, maybe something for the wifey, but if you believe in Bitcoin, you just keep on keeping on. BUY, HODL, ACCUMULATE MORE...and spend a little. Gotta keep the ecosystem runnin'  |
|
|
|
Hey guys!
Im a Sophomore in college looking into bitocoins. I read about bitcoin and did a report on it, and am now extremely excited to begin mining for them! However, I am having some difficulty understanding how to mine bitcoin, especially in my situation. First and foremost, I am planning on buying miners soon. But the thing is, there is no ethernet jack ANYWHERE inside our old home. The Wifi is hooked up to a cable. Question is, can I download bitcoin over Wifi without any connection to a phone jack? Also can I hear about how to connect a bitcoin setup? I wanted to know a bit more about what are the names of the cables you connect to your laptop etc. Also any good programs to use to mine/manage my coins?
Thanks all!
The Antminer S1 is wireless if you're looking for a miner with wireless connection. It should be very very inexpensive nowadays, so perfect for a college budget. |
|
|
|
Ok you guys are all right and I am wrong. 1 BTC will be worth 1000$.
I will wait until I am skeleton.
I'm with you man, the experiment is over. Dunzo. 6 years is way too long for a burgeoning technology to fully mature...  |
|
|
|
|
These guys are unfortunately correct. Unless you can get second hand or used miners at an incredible price, or possibly strike a deal with an ASIC manufacturer, you'd be mining still at a loss.
Mining Difficulty, Diminishing miner rewards, Pool Variance, and Cooling costs all go against you achieving ROI.
It's not impossible, just very unlikely to break even, let alone profit in the current environment.
|
|
|
|
Unrelated to USB drives to backup wallet/wallet.dat, but sorta related since it looks like a thumb drive and around the same size of one:   https://www.ledgerwallet.com/I regularly backup my Bitcoin Core wallet.dat to a Sandisk Cruzer and Lexar thumb drive, but hoping to get my hands on a Trezor or Ledger wallet sometime this year. |
|
|
|
|
Show Posts
