http://fortune.com/2017/08/10/bitcoin-coinbase-unicorn/A Bitcoin company has finally attained the "unicorn" title, an honorific bestowed upon startups valued at more than $1 billion.
Coinbase, a brokerage that established itself as one of the biggest brands in a now-booming cryptocurrency market, has raised $100 million at a private valuation of $1.6 billion that includes the capital raised, the company tells Fortune. The venture capital firm Institutional Venture Partners led the round with participation by Spark Capital, Greylock Partners, Battery Ventures, Section 32, and Draper Associates.
Coinbase had for months been rumored to be raising around $100 million at a valuation of $1 billion or more, as the Wall Street Journal reported in June. That deal, its fourth, is now final.
In previous rounds, Coinbase had raised a total of $117 million at a private valuation approaching $500 million, as Fortune reported. That sum already made it one of the most well financed Bitcoin ventures around, next to Circle and 21.
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Well alts are all down today - I expect it is because BTC hit $3500, and altcoin holders are selling to get bitcoin so they can then cashout into fiat at the high rates.
There won't be a sustained rise in alts till new money flows into crypto.
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That price can't be foreseen on 2018. Why? It is more than that 5000$ in 2018.
The price 3500$ can happen this coming days and still increasing as the year nearly ends.
It does this day. 24hour high in bitstamp was exactly $3500 no more, no less, without any cents. How come that it doesn't even have a cents with the growing demand? Was it coincedent? or there is actually manipulating the price? It's slipped down below $3500 just now. I expect there will be some profit taking before it makes it's next leg up. |
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I have been noticing a positive sentiment change amongst most of the main stream (local and non local) news sources. It wasn't all that long ago where they were reporting about Bitcoin only in cases of idiots demanding ransom in Bitcoins, people using Bitcoin to buy drugs from deep web markets, people buying weapons with Bitcoin, large scale money laundering, etc. I find it already a top achievement that they are letting this go and start looking at Bitcoin from a different, mainly less negative, perspective. Regarding altcoins, I don't see this as something that concerns me - people have the freedom to invest into whatever they want. In some cases people are genuinely interested in the features certain altcoins offer, or better said, what inconveniences they solve that Bitcoin doesn't solve, and not necessarily in the speculative aspect. But as you also pointed out, these projects account for an extremely low percentage of the altcoin market, the rest is pure trash.
It's because they're seeing the continual price rises and want to be part of it. I bet some of them wish they'd bought last year instead of rubbishing it for being criminal. |
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I do not know if this is a real project or if this is a joke, the currency of the Venezuelan government is not worth a thing but why someone will need to use this coin if they can use bitcoin or other coins that are more stable and more valuable than this coin is ever going to be.
it's easy, because here in Venezuela u don't have access to any crypto currency, in Venezuela the people like us can't buy USD or any international currency in a legal way. This is absolute rubbish - Venezuelans are mining both bitcoin and ethereum, thanks to their very cheap subsidized electricity: https://www.theatlantic.com/magazine/archive/2017/09/big-in-venezuela/534177/To survive, thousands of Venezuelans have taken to minería bitcoin—mining bitcoin, the cryptocurrency. Lend computer processing power to the blockchain (the bitcoin network’s immense, decentralized ledger) and you will be rewarded with bitcoin. To contribute more data-crunching power, and earn more bitcoin, people operate racks of specialized computers known as “miners.” Whether a mining operation is profitable hinges on two main factors: bitcoin’s market value—which has hit record highs this year—and the price of electricity, needed to run the powerful hardware.
Electricity, it so happens, is one thing most Venezuelans can afford: Under the socialist regime of President Nicolás Maduro, power is so heavily subsidized that it is practically free. A person running several bitcoin miners can clear $500 a month. That’s a small fortune in Venezuela today, enough to feed a family of four and purchase vital goods—baby diapers, say, or insulin—online. (Most web retailers don’t ship directly to Venezuela, but some Florida-based delivery services do.)
Venezuela’s most resourceful miners, in fact, are moving on to a new inflation-buster: the cryptocurrency ether (ETH). The profit margins are higher and, more important, the risk factor is much lower. “Mining ETH or bitcoin is pretty much the same principle: using free electricity to generate cash,” one Venezuelan miner told me. “But ETH mining is more affordable—all you need is free software and a PC with a video card. Any police officer is easily fooled into thinking your ETH miner is just a regular computer.” If you were Venezuelan you would know this. I bet you are an outsider trying to take advantage of their situation to launch a currency for your own benefit. |
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Money is already rushing into the traditional safe havens of gold and swiss francs.
The people most affected by a war with North Korea would be the South Koreans - and some of them might start putting money away in bitcoin just to be safe in case their economy tanks along with their currency.
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Bitcoin cash is the side chain and i do not see it writing off Bitcoin the main chain which has the majority support as far as i know.
And how possible will Bitcoin cash transition to become the main coin when we all know it's the alt here and very few people are actually speculating about it to grow its community, support and market cap?? IMO this is mission impossible for BCH
If fees to use bitcoincash remain way lower than fees to use bitcoin, people will use bitcoincash. They won't care that some people label it an "alt". Nobody cares about labels, they just care about cost. |
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When more people start using bitcoin bitcoin will be seen as value itself. Right now, people are constantly checking bitcoin values in USD, but if bitcoin becomes mainstream people will just accept bitcoin "as-is", and price will stabilize.
As long as fees are high people simply won't use it. Nobody is going to pay $3 in fees when buying an item that costs $25. When I first started in bitcoin, you could actually send stuff for no fees at all if your coins were aged enough. The good old days! |
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There is no harm taking a small punt on a number of coins: Ether, Bitcoincash, Doge, Monero, Dash.
Do your research and try not to pay too much. Have a set point where you start to cash out profits. Pretty soon you'll have made yourself some more bitcoin.
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I saw a thread on reddit which said that BCC's future depends on the miners. It's one of the few profitable coins that can be mined with ASICs, which means some miners might be tempted to switch to mining BCC. If they do, BTC will start producing blocks at a slower rate (at least until the difficulty drops), and that might prompt USERS to switch to BCC just to be able to send money in a timely way.
It's too early to tell, but that scenario sounds plausible.
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According to the following comment from January: https://bitcointalk.org/index.php?topic=1954578.msg19435004#msg19435004people think the address contains hacked coins from bitfinex. Here is what that comment says: I am likely wrong, but still it's funny or weird (or whatever else you want to call it) that the first deposit was in August 23th last year, and the last major deposit was in November of last year. Bitfinex announced it was hacked on August 02 of last year, and there were like 120K coins stolen. This address contains 124K coins, and has not seen any major deposit since last year, which might imply that there are no further coins to move in... I don't know if they are right or not. |
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Well, here is what futurism has to say: https://futurism.com/bitcoin-can-get-to-100000-if-it-keeps-following-one-of-techs-golden-rules/According to analysis by Dennis Porto, a bitcoin investor and Harvard academic, bitcoin’s price could hit $100,000 per coin if it continues to follow one of tech’s “golden rules” — Moore’s law.
The rule, which was devised in 1965 by Intel cofounder Gordon Moore, describes the exponential improvements of digital technology.
“Moore’s law specifically applied to the number of transistors on a circuit but can be applied to any digital technology,” Porto wrote in an email to Business Insider. “Any technology that is growing exponentially (i.e., ‘following Moore’s law’) has a doubling time.”
Typically, however, the rule applies to a technology’s computing power or capabilities. This is the first time Porto has noticed a technology’s price following Moore’s law.
Since bitcoin’s inception, according to Porto, its price has doubled every eight months.
“This poses a unique opportunity for investors: Whereas it was difficult to invest in circuits or internet speeds, it is easy to buy a bitcoin,” Porto said.
Porto expects that this doubling trend could continue until bitcoin reaches mass adoption. Of course, another cryptocurrency could usurp bitcoin in the meantime.
By February 2021, Porto believes, it could be worth over $100,000. |
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The mainstream press is starting their "it's a bubble" stories, so the price might pull back if new money is put off from joining crypto. Here is the New York Times: https://www.nytimes.com/reuters/2017/08/10/business/10reuters-markets-currencies-crypto-analysis.htmlAt the start of 2017, the total value - or market cap - of all cryptocurrencies in existence was about $17.5 billion, with bitcoin making up almost 90 percent of that, according to industry data firm CoinMarketCap.
It is now around $120 billion - around the same value as Goldman and RBS together - and bitcoin makes up only 46 percent.
Bitcoin Cash, a clone of bitcoin that was split off from the original last week by a rival group of developers, was valued at more than $12 billion less than 24 hours after it had started trading.
"It's just created new value out of nowhere," said Rob Moffat, a partner at Balderton Capital, a London-based venture capital firm who focuses on fintech. "There's no fundamentals behind any of this - it's all based on public perception, so you can start to see some really strange phenomena."
Billionaire U.S. investor Howard Marks likens the market to the dotcom bubble of the turn of the century - whose demise he predicted. He said in a recent investor letter that digital currencies were an "unfounded fad ... based on a willingness to ascribe value to something that has little or none beyond what people will pay for it". So there you go - the bears are trying to talk down the market. |
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Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?
This is a chicken and egg situation. For bitcoin's price to stabilize, a large scale economy needs to develop with more businesses and users. For a large scale economy to develop, businesses and users will seek for price stability. Fortunately, volatility does not affect the main benefits of Bitcoin as a payment system to transfer money from point A to point B. It is possible for businesses to convert bitcoin payments to their local currency instantly, allowing them to profit from the advantages of Bitcoin without being subjected to price fluctuations. I'm going to disagree. Volatility DOES affect the ability of businesses to use bitcoin. For a start, bitcoin isn't "instant" anymore, it can take hours to confirm due to the small blocks, high fees and backlogs. By the time it does confirm, volatility can have made you a big fat loss. IMO this is why we're not seeing adoption in the use of bitcoin as a currency, as opposed to as an asset. Overstock has just enabled altcoins, in the hopes people use them instead. Lets wait and see if an alt emerges as a currency that can be actually used instead of bitcoin. |
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No way to make any decent gains for the forseeable future. Mkt cap is $50b that means $100b to double your money. I see sideways bs looking for idiot buyers for awhile then a bear market before the next leg up.
The current adoption simply doesn't support a continued rise.
Agreed. And until most of the trading takes place on regulated exchanges like Gemini, the big institutional money won't come into bitcoin (though some speculative hedge funds might take a punt). Too much attention has been placed on the developer wars and not enough on user adoption (as in actually using bitcoin). |
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That's common way to trick users, put ads about their link on search engine. We've seen this type of scam hundred time from electrum, blockchain.info, myetherwallet, electron cash and many more (website that scammer clone with similar domain).
But 2FA, adblock or add-ons that warn/block suspicious website help a lot in this case.
Instead of using Google, bookmark the Bittrex login url, and then you'll basically always go to the right site. |
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Thank you for posting this. Overstock doesn't get enough credit for how supportive they've been of crypto. It's important that there are real world ways to use coins to give them some value beyond just speculative enthusiasm.
Yes - and it's interesting that they're branching into alts. It seems to me that they think the fees on bitcoin are now so high, that people simply won't use it, and they are experimenting to see whether people will use alts instead. |
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Yes I think you need to verify your bittrex account because as I have discovered lately bittrex lowered down it's daily withdrawal rate and I think you need to verify some things so it will be increased instead of the 0.025 minimum daily withdrawal.
Stop with the fake information.You either are blind or a blatant signature poster.If you read the above thread,you could see OP already posted that they managed to create a legacy account without having to submit any document verification,0.025 withdrawal limit is a lie,more like a joke.You don't have to fake the data if you can't find anything else to post for. The 0.025 btc withdrawal limit is correct for new users who are not verified. Here is what bittrex have to say: https://support.bittrex.com/hc/en-us/articles/231701788Withdraw Limits
If your password has been changed, you cannot make a withdrawal for 24 hours
If your account does not have 2FA, you are limited to withdrawing up to 1 BTC (or equivalent) per day
If you have an account created after October 30th, 2016, your withdrawal limits are:
Unverified Accounts created before 08/01/17: 0.025 BTC (or equivalent) per day
Unverified Accounts created on or after 08/01/17: 0 BTC (or equivalent) per day
Basic Accounts: 3 BTC (or equivalent) per day with two-factor enabled.
Enhanced Accounts: 100 (or equivalent) BTC per day with two-factor enabled So if you got your account after October 2017, then you are going to be limited in how much you can withdraw. |
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