Hedgy Raises $1.2 Million for Smart Contract-Powered Bitcoin Derivatives

[Coinbuddy]

Bitcoin derivatives startup Hedgy has raised $1.2m in new seed funding from a group of 10 investors that includes Draper Fisher Jurvetson partner Tim Draper, Salesforce CEO Marc Benioff and Sand Hill Ventures.

In conjunction with the announcement, Hedgy has also launched a new derivatives product aimed at commercial bitcoin miners.

http://www.coindesk.com/hedgy-1-2-million-smart-contract-bitcoin-derivatives/

[tokeweed]

Thanks for the update Pran Lele.  How's Mukesh doing these days?

[chennan]

It seems there are many news coming out from time to time , that many bitcoin related businesses successfully raised large of of money. How haven't the bitcoin price reflected this?

[Jamie_Boulder]

The money some of these startups are raising is ridiculous, no proven record to make a profit, no provable business plan, not even a proof of concept

Who the hell is buying into this?

[Amph]

It seems there are many news coming out from time to time , that many bitcoin related businesses successfully raised large of of money. How haven't the bitcoin price reflected this?

this is my concern too, all these good news about funds that are raised for bitcoin, and yet the price is tanking, something isn't right here

two possibility, they are fake despite the good source, this because "someone" want that not only whales play with the market, and he want to encourage everyone else to join, or they are real but the funds aren't invested yet...

[Kprawn]

Now this is making me exited... not the announcement that Goldman Sucks  is investing $50 000 000 in Circle.

I see much more potential in Smart contracts and it provides more value than being a mere currency.

This is a clever step and a move in the right direction.  - 2 x kudo's to them and a bunch of weed. 

[arbitrage001]

It seems there are many news coming out from time to time , that many bitcoin related businesses successfully raised large of of money. How haven't the bitcoin price reflected this?

this is my concern too, all these good news about funds that are raised for bitcoin, and yet the price is tanking, something isn't right here

two possibility, they are fake despite the good source, this because "someone" want that not only whales play with the market, and he want to encourage everyone else to join, or they are real but the funds aren't invested yet...

Price is a function of supply and demand. There are plenty of supply with little demand.

Beside, the news said "smart contract", which has nothing to do with bitcoin.

[BillyBobZorton]

It seems there are many news coming out from time to time , that many bitcoin related businesses successfully raised large of of money. How haven't the bitcoin price reflected this?

Because people running businesses have a lot of money and they wouldn't benefit by investing on a high price, all the movements are being done now to reap the benefits later once BTC has matured. We are still at the very early days (0.10.1 version..)

[EternalWingsofGod]

It seems there are many news coming out from time to time , that many bitcoin related businesses successfully raised large of of money. How haven't the bitcoin price reflected this?

Just a stronger sell pressure than a buy and hold pressure I guess
Merchant adoption being what it is, that said I can see these type of hedges and funds resulting in more people getting into the space to play with price changes.

[Light]

The money some of these startups are raising is ridiculous, no proven record to make a profit, no provable business plan, not even a proof of concept

Who the hell is buying into this?

The people who buy into this do so for the same reason that venture capitalists are willing to put 20 million into random new tech startups (ie. Secret). They're basically trying to find one which will hit it big so that they make a huge amount out of it when they sell off their share. For us it looks stupid, but they have the money to throw around and they think eventually they'll hit the jackpot with a startup.

[Jamie_Boulder]

The money some of these startups are raising is ridiculous, no proven record to make a profit, no provable business plan, not even a proof of concept

Who the hell is buying into this?

The people who buy into this do so for the same reason that venture capitalists are willing to put 20 million into random new tech startups (ie. Secret). They're basically trying to find one which will hit it big so that they make a huge amount out of it when they sell off their share. For us it looks stupid, but they have the money to throw around and they think eventually they'll hit the jackpot with a startup.

I have money to throw around but that doesn't mean I do - you can't do it forever and hoping for the best will only get you so far.

It's people like this who "throw the money in and hope I'm a winner" that discourage real investors who would actually provide help & real value to a business from entering the market.

[Kaneki]

Whether probably smart contract would be a solution to alleviate concerns about possible price fluctuations ? maybe yes maybe no.

[scryptasicminer]

Whether probably smart contract would be a solution to alleviate concerns about possible price fluctuations ? maybe yes maybe no.

Small contract can cut the lawyer and law makers out of the process, which cut out a big portion of the cost on law compliance.