2013-04-09 Coinsetter Lands $500K To Help Bring Leverage, Shorting To Bitcoin

[hazek]

Margin trading is a coming. TO DA MOON:

http://techcrunch.com/2013/04/09/coinsetter-lands-500k-from-secondmarket-founder-others-to-help-bring-leverage-shorting-to-bitcoin-trade/

Today, Coinsetter, a New York City-based startup looking to launch a new Forex trading platform for Bitcoin, announced today that it has raised $500,000 in seed capital. The round was led by Tribeca Venture Partners and SecondMarket founder and CEO Barry Silbert (through his Bitcoin Opportunity Fund), with participation from angel investors like Jimmy Furland, a London-based technology entrepreneur, Microsoft Head of Corporate Strategy, Charles Songhurst, and Facebook Product Lead, Ben Davenport.

The investment comes at a time when there’s been a flurry of new interest in Bitcoin, given that the crypto-currency just officially became a billion-dollar market at the end of March. Since then, venture capitalists have weighed in on what they love about Bitcoin, including its potential to not only “disrupt multi-billion-dollar markets, but in doing so also create new big markets,” Lightspeed Ventures’ Jeremy Liew wrote in TechCrunch this weekend.

And how cool is this, they linked my blog post?

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[thefiniteidea]

Our little Bitcoin is all grown up 

This is fantastic news!

[Tirapon]

Just beat me to it!

-Edit-
Oh wait, you posted this more than an hour ago... I need to keep up

[Wekkel]

Would love a mature exchange with lots of liquidity.

[MPOE-PR]

Heh. MPEx effective leverage was 5.02x over about 500k BTC last month alone. That means traders contributed ~100k BTC of their own capital and traded ~500k BTC.

Compare that with the ~2k BTC this announcement contains:

2,000... very little... tiny... small;
400,000... huge... colossal... magnificent.

Get it? No "to tha moon". To tha treetop. The moon is somewhere else.

[TraderTimm]

At least you'll be able to blow-out your account that much faster. Might keep the panic-stricken and utterly green traders from adding to this crazyness.

[zoinky]

Heh. MPEx effective leverage was 5.02x over about 500k BTC last month alone. That means traders contributed ~100k BTC of their own capital and traded ~500k BTC.

Compare that with the ~2k BTC this announcement contains:

2,000... very little... tiny... small;
400,000... huge... colossal... magnificent.

Get it? No "to tha moon". To tha treetop. The moon is somewhere else.

If only MPEx didn't look like it was built in the 90's with notepad.

[MPOE-PR]

If only MPEx didn't look like it was built in the 90's with notepad.

We are not discussing the expectations of the web crowd here, we are discussing money. Can you for a second even vaguely grasp the simple point that not everything in this world is a sort of facebook?

[Jaron @ Coinsetter]

Hey guys, thanks for posting and for the support.

I think MPEx has bigger plans in the space than what they're showing from their front end!

[MikeH]

shorting is bad, mmm k