why invest in open coin?

[wolverine.ks]

Google ventures and Andean Horowitz among others are investing in open coin.

 any idea how they expect to make any money on that investment?

 are they being promised xrp?

what is this company?

[1714769735]

1714769735

[1714769735]

1714769735

[1714769735]

1714769735

[1714769735]

1714769735

[1714769735]

1714769735

[1714769735]

1714769735

[lixiaolai]

Google ventures and Andean Horowitz among others are investing in open coin.

 any idea how they expect to make any money on that investment?

 are they being promised xrp?

what is this company?

News confirmed. Li Feng is one of my best friends.

------------

Gold is not published by any centralized organization, just as is bitcoin (what gold is different from bitcoin is that gold is in fact unlimited). In this way, I think bitcoin is gold 2.0.

But with only gold and without bank, without note, the economy is constrained. That's why we need some center in a decentralized world.

I think most people tend to swing from one extreme to another.

In fact, a decentralized world with many power limited centers is ideal.

[Anon136]

open coin = ripple?

[SamS]

open coin = ripple?

Yes. That's quite interesting. The amount (est $200K) shows it's more about a toe in the door and a vote of confidence. But still, the markets should pay attention to that...

[drawingthesun]

Google ventures and Andean Horowitz among others are investing in open coin.

 any idea how they expect to make any money on that investment?

 are they being promised xrp?

what is this company?

OpenCoin holds around a Billion dollars worth of Ripples (XRP) at current rates, so it would seem to be a good company to invest in.

In fact just a few weeks ago the value of all outstanding XRP was MORE than the value of all current Bitcoins that have been mined.

(I sold 7,100 XRP for 1 BTC which makes their stash of XRP worth at that point over 14,000,000 Bitcoins!)

[cdog]

Dont get caught holding the XRP bag!

http://en.wikipedia.org/wiki/Bagholder

[Ekaros]

Should I get out of my measly 35k XRP?

Hmm... Or will it go up?

[kcirazy]

OpenCoin will be distributing loads more XRP before the end of the month, devaluing yours.

The company promised that those who signed up before May 9 would get given free ripples by the end of the month.

Source: http://gigaom.com/2013/05/14/google-ventures-invests-in-opencoin-the-firm-behind-bitcoin-exchange-ripple/

[tclo]

OpenCoin will be distributing loads more XRP before the end of the month, devaluing yours.

Not if they just give 500 or so to each person...then they will want to buy more and that means more buying pressure..  It's supply and demand.  They will be increasing supply but demand as well.

[btbrae]

I for one, welcome our new federal reserve of XRP overlords.

[tclo]

Dont get caught holding the XRP bag!

http://en.wikipedia.org/wiki/Bagholder

I do agree with this but the same with Bitcoin.  It will be back below 80 in a few months, if not below 50.

[🏰 TradeFortress 🏰]

Dont get caught holding the XRP bag!

http://en.wikipedia.org/wiki/Bagholder

Don't get caught holding 1 trillion BTC on ripple!

[kokojie]

Google ventures and Andean Horowitz among others are investing in open coin.

 any idea how they expect to make any money on that investment?

 are they being promised xrp?

what is this company?

They are investing the biggest alt coin 100% pre-mine scam in existence. They make money by printing them out of thin air (XRP). People are buying 10k XRP for 1 Bitcoin, and OpenCoin have 100B or more XRP.

[greBit]

Wait are they really called "Opencoin"? Is it meant to be ironic?

How can I mine some of these 'open' XRPs then?

[kokojie]

Wait are they really called "Opencoin"? Is it meant to be ironic?

How can I mine some of these 'open' XRPs then?

You don't mine them, you can beg some from OpenCoin Inc when they are feeling generous.