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Author Topic: $55 Million for Blockstream to build out Bitcoin!  (Read 4591 times)
Denker
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February 03, 2016, 02:43:03 PM
 #1

Congratz for Blockstream and the Core Devs.
http://www.coindesk.com/blockstream-55-million-series-a/

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Blockstream has raised $55m in Series A funding to continue its work expanding the bitcoin code base for commercial use.

With the news, Blockstream's total funding rises to $76m over two investment rounds. To date, the company's signature technology has been its sidechains offering, currently in testing, which enables the creation of blockchains that can validate data from, and transfer assets to, other blockchains.

I'm pretty sure the big block/Classic supporters will not like this news.

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Denker
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February 03, 2016, 03:35:17 PM
 #2

https://twitter.com/barrysilbert/status/694883528937439232

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Thrilled to invest in @Blockstream alongside a fantastic group of forward thinking global investors

So I think it's clear who Barry is supporting.
I just love this guy.He is smart and always a great ambassador fot Bitcoin!

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February 03, 2016, 03:42:42 PM
 #3

Congratz for Blockstream and the Core Devs.
http://www.coindesk.com/blockstream-55-million-series-a/

Quote
Blockstream has raised $55m in Series A funding to continue its work expanding the bitcoin code base for commercial use.

With the news, Blockstream's total funding rises to $76m over two investment rounds. To date, the company's signature technology has been its sidechains offering, currently in testing, which enables the creation of blockchains that can validate data from, and transfer assets to, other blockchains.

I'm pretty sure the big block/Classic supporters will not like this news.

Great news! Until someone in the opposing faction expresses distrust or some angst against the act of Core devs, this is great news! Also, $55 mil is no joke for investing in a tech which is on its infancy. A daring and bold move, I must say.

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February 03, 2016, 03:46:48 PM
 #4

Congratz for Blockstream and the Core Devs.
http://www.coindesk.com/blockstream-55-million-series-a/

Quote
Blockstream has raised $55m in Series A funding to continue its work expanding the bitcoin code base for commercial use.

With the news, Blockstream's total funding rises to $76m over two investment rounds. To date, the company's signature technology has been its sidechains offering, currently in testing, which enables the creation of blockchains that can validate data from, and transfer assets to, other blockchains.

I'm pretty sure the big block/Classic supporters will not like this news.

Great news! Until someone in the opposing faction expresses distrust or some angst against the act of Core devs, this is great news! Also, $55 mil is no joke for investing in a tech which is on its infancy. A daring and bold move, I must say.

That does not surprise me at all. It was obvious there would be many millions of dollars put into this technology sooner or later. Let's hope this news may hepl accelerate the process of development of the bitcoin blockchain.
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February 03, 2016, 03:50:08 PM
 #5

Corporate backing for bitcoin/Bitcoin developers. No one else sees a problem with this?

blunderer
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February 03, 2016, 03:53:01 PM
 #6

Corporate backing for bitcoin/Bitcoin developers. No one else sees a problem with this?

Not if we can get a quick pump on the news, no.
Bit sad 'coz not yet working Sad
croTek4
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February 03, 2016, 03:54:03 PM
 #7

Corporate backing for bitcoin/Bitcoin developers. No one else sees a problem with this?

Not if we can get a quick pump on the news, no.
Bit sad 'coz not yet working Sad

Right, Because this is not good news.

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February 03, 2016, 03:57:10 PM
 #8

The more development the better.

I also hope that there would be some sort of crackdown so the tech can be battle-tested, and price swings to have more entry-points for investors who missed out the $250 levels.
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February 03, 2016, 03:58:53 PM
 #9

What this also means is that there is much incentive backed by millions of dollars to keep the blocksize at 1 MB. Blockstream will try to bury Classic. It ain't gonna be pretty.

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February 03, 2016, 03:59:37 PM
 #10

The more development the better.

I also hope that there would be some sort of crackdown so the tech can be battle-tested, and price swings to have more entry-points for investors who missed out the $250 levels.


I agree more development is better. And there's not necessarily a problem with developers being paid either. With corporate money, comes corporate influence.

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February 03, 2016, 04:00:48 PM
 #11

I agree more development is better. And there's not necessarily a problem with developers being paid either. With corporate money, comes corporate influence.

Still better, than let's say shill influence Grin you know like on the US social media
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February 03, 2016, 04:02:46 PM
 #12

But this big amount of dollars has been rised in order to advance the sidechain solutions right? It does not seem the market has reacted too well to this as price has gone down a bit today.

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February 03, 2016, 04:04:53 PM
 #13

Corporate backing for bitcoin/Bitcoin developers. No one else sees a problem with this?

Not if we can get a quick pump on the news, no.
Bit sad 'coz not yet working Sad

Right, Because this is not good news.

Nah, fine news. Bitcoin's growing up, shedding some youthful naivete & idealism. Our Pumpkin's almost ready to take some girthy banker D.
Soon...
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February 03, 2016, 04:21:23 PM
 #14

now they can start to work on 2 MB blocks  Tongue


Congratz Blockstream.  Smiley

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February 03, 2016, 05:04:51 PM
 #15

Before we get too excited about this, let's first find out who these venture capital firms are.... Anyone have more details on  AXA Group; Digital Garage

and Horizons Ventures? I tried to Google them and find very little information. I like the roadmap for the Blockstream development more than the

Bitcoin Classic proposal, but I would like to know a bit more about the people pushing for the Blockstream and their motives behind that... You do not

invest that kind of money, if you not expecting some kind of return on it.  Roll Eyes

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February 03, 2016, 05:17:53 PM
 #16

Corporate backing for bitcoin/Bitcoin developers. No one else sees a problem with this?

Only the code matters.

I don't see a problem with gigantic infusions of capital for Bitcoin development.  Back/Maxwell/Wuille/Corallo/Russell/Timon/etc are Bitcoin All-Stars!   Cool

Take the anti-capitalist paranoia back to your Bernie Sanders MeetUp; we don't need it here.


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February 03, 2016, 05:23:30 PM
 #17

What this also means is that there is much incentive backed by millions of dollars to keep the blocksize at 1 MB. Blockstream will try to bury Classic. It ain't gonna be pretty.
But this big amount of dollars has been rised in order to advance the sidechain solutions right? It does not seem the market has reacted too well to this as price has gone down a bit today.
This money will mostly be used to develop off chain solutions to scaling, not scaling the Bitcoin blockchain directly itself. Fortunately Bitcoin Classic will also be receiving more support in the form of developers paid for by various companies within the ecosystem.
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February 03, 2016, 05:27:32 PM
 #18

That's some serious money. I think it's good that it's going into an actual bitcoin company but, yep, it makes me feel a little uneasy too.

croTek4
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February 03, 2016, 05:28:25 PM
 #19

Corporate backing for bitcoin/Bitcoin developers. No one else sees a problem with this?

Only the code matters.

I don't see a problem with gigantic infusions of capital for Bitcoin development.  Back/Maxwell/Wuille/Corallo/Russell/Timon/etc are Bitcoin All-Stars!   Cool

Take the anti-capitalist paranoia back to your Bernie Sanders MeetUp; we don't need it here.


I'll take my anti-capitalist concerns wherever I want. This is a move toward centralization.

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February 03, 2016, 05:50:49 PM
 #20

Its great news indeed!The $55 million funding raised,will it be in bitcoins or fiat.I'm sure the core developers would like to have it in bitcoins.Finally some reward to the developers.Hope it doesn't turn as a sellout to the commercial streams which may dissolve decentralization,I'm afraid.


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