1.5MM Investment to Bitinstant Led by Winklevoss Capital

[Ultraviolet]

http://techcrunch.com/2013/05/17/with-1-5m-led-by-winklevoss-capital-bitinstant-aims-to-be-the-go-to-site-to-buy-and-sell-bitcoins/

[crazy_rabbit]

News just gets better and better.

[WikileaksDude]

This is G00D!

[bobdude17]

The funny thing is that they did it last fall, they are announcing it now.

[superduh]

Im glad vcs are taking this seriously

[bozak]

Im glad vcs are taking this seriously

In the VC world, this type of money is still chump change.  So far, Coinbase has the largest investment at 5 mil.  Bitcoin won't really be taken seriously until we have a 100 mil VC investment and a few IPOs. 

[gweedo]

Im glad vcs are taking this seriously

In the VC world, this type of money is still chump change.  So far, Coinbase has the largest investment at 5 mil.  Bitcoin won't really be taken seriously until we have a 100 mil VC investment and a few IPOs. 

Yeah IPO is so important LMAO I doubt any bitcoin company will IPO on the stock exchange, that goes against what bitcoin is and that means the company is a sell out, and I know I would never use that company again.

[dave111223]

Im glad vcs are taking this seriously

In the VC world, this type of money is still chump change.  So far, Coinbase has the largest investment at 5 mil.  Bitcoin won't really be taken seriously until we have a 100 mil VC investment and a few IPOs. 

Yeah IPO is so important LMAO I doubt any bitcoin company will IPO on the stock exchange, that goes against what bitcoin is and that means the company is a sell out, and I know I would never use that company again.

Why does being a publicly traded company "go against what bitcoin is"?

[bitcon]

Im glad vcs are taking this seriously

In the VC world, this type of money is still chump change.  So far, Coinbase has the largest investment at 5 mil.  Bitcoin won't really be taken seriously until we have a 100 mil VC investment and a few IPOs. 

Yeah IPO is so important LMAO I doubt any bitcoin company will IPO on the stock exchange, that goes against what bitcoin is and that means the company is a sell out, and I know I would never use that company again.

Why does being a publicly traded company "go against what bitcoin is"?

is it hard to see that some proponents of bitcoin are against centralized corruption that the banks and wall street have inflicted upon this world?

[gweedo]

Im glad vcs are taking this seriously

In the VC world, this type of money is still chump change.  So far, Coinbase has the largest investment at 5 mil.  Bitcoin won't really be taken seriously until we have a 100 mil VC investment and a few IPOs.  

Yeah IPO is so important LMAO I doubt any bitcoin company will IPO on the stock exchange, that goes against what bitcoin is and that means the company is a sell out, and I know I would never use that company again.

Why does being a publicly traded company "go against what bitcoin is"?

I don't know maybe cause out of wall st and big banks came bitcoin...

[dave111223]

Im glad vcs are taking this seriously

In the VC world, this type of money is still chump change.  So far, Coinbase has the largest investment at 5 mil.  Bitcoin won't really be taken seriously until we have a 100 mil VC investment and a few IPOs.  

Yeah IPO is so important LMAO I doubt any bitcoin company will IPO on the stock exchange, that goes against what bitcoin is and that means the company is a sell out, and I know I would never use that company again.

Why does being a publicly traded company "go against what bitcoin is"?

I don't know maybe cause out of wall st and big banks came bitcoin...

Hmm...what?  So for example if I have a company making shoes, I want to make a lot more shoes and get a lot more customers so in order to raise the capital required to build new factories, hire more employees, and get more machines I sell off some ownership shares in my company to the public....

Somehow in doing this I have gone against Bitcoin?

[Zaih]

Can't really go wrong with news like this. Good luck BitInstant. Let's hope this goes well eh

[Logik]

Somehow in doing this I have gone against Bitcoin?

I think the point was that listing on a $USD denominated stock exchange is going against what Bitcoin is. Listing on a Bitcoin denominated stock exchange would presumably be different.

[dave111223]

Somehow in doing this I have gone against Bitcoin?

I think the point was that listing on a $USD denominated stock exchange is going against what Bitcoin is. Listing on a Bitcoin denominated stock exchange would presumably be different.

I guess if you are of opinion that any transaction that does not involve Bitcoin is "going against Bitcoin" then sure...I'm not sure how you would function in a society today with this kind of mindset, as I don't think it would be possible to only transact in solely Bitcoin for everything; does this mean "everyone is against Bitcoin"

[Logik]

Somehow in doing this I have gone against Bitcoin?

I think the point was that listing on a $USD denominated stock exchange is going against what Bitcoin is. Listing on a Bitcoin denominated stock exchange would presumably be different.

I guess if you are of opinion that any transaction that does not involve Bitcoin is "going against Bitcoin" then sure...I'm not sure how you would function in a society today with this kind of mindset, as I don't think it would be possible to only transact in solely Bitcoin for everything; does this mean "everyone is against Bitcoin"

No, it does not mean that. It needn't be such a binary issue. It's not that USD transactions mean anything in particular, but the major US stock markets are something of a staple of the legacy economy; churches of the religion of money, if you will. Assuming we agree that the point of Bitcoin is to displace legacy monetary institutions, surely you could see how someone could consider it going against Bitcoin to use them.

[dave111223]

No, it does not mean that. It needn't be such a binary issue. It's not that USD transactions mean anything in particular, but the major US stock markets are something of a staple of the legacy economy; churches of the religion of money, if you will. Assuming we agree that the point of Bitcoin is to displace legacy monetary institutions, surely you could see how someone could consider it going against Bitcoin to use them.

How is US stock market any more a staple of the "legacy economy" than going to the Kwik-E-mart and buying a candy bar with a US dollar bill.  They both perpetuate the use of US dollars, and the legacy economy as a whole...if fact the collective use of US Dollars at the Kwik-E-Mart does more of perpetuate the use of the fiat than does the stock market.

You previously stated that it wasn't the issuing of public stock that you took issue with, but the fact that the stock was sold for US dollars....so somehow:

Public Stocks != Against Bitcoin
US Dollar Transaction != Against Bitcoin
Stocks + US Dollar Transaction == Against Bitcoin

Flawed logik

[gweedo]

Im glad vcs are taking this seriously

In the VC world, this type of money is still chump change.  So far, Coinbase has the largest investment at 5 mil.  Bitcoin won't really be taken seriously until we have a 100 mil VC investment and a few IPOs. 

Yeah IPO is so important LMAO I doubt any bitcoin company will IPO on the stock exchange, that goes against what bitcoin is and that means the company is a sell out, and I know I would never use that company again.

Why does being a publicly traded company "go against what bitcoin is"?

I don't know maybe cause out of wall st and big banks came bitcoin...

Hmm...what?  So for example if I have a company making shoes, I want to make a lot more shoes and get a lot more customers so in order to raise the capital required to build new factories, hire more employees, and get more machines I sell off some ownership shares in my company to the public....

Somehow in doing this I have gone against Bitcoin?

Why would you want to list on a stock market (NY stock exchange), that is causing more issues then it solves. You have read this so wrong, but I am not going to explain it, but yes if you listed on any stock exchange beside bitcoins you are against bitcoins. Cause bitcoins grew from what wall st did so why give them business

[odolvlobo]

Im glad vcs are taking this seriously

In the VC world, this type of money is still chump change.  So far, Coinbase has the largest investment at 5 mil.  Bitcoin won't really be taken seriously until we have a 100 mil VC investment and a few IPOs.  

It was explained to me that the size of any investment is limited by Bitcoin's market cap. In others words, at some point, the value of a company must be limited by the value of Bitcoin, so it becomes better to just buy bitcoins than to buy a company.

How is US stock market any more a staple of the "legacy economy" than going to the Kwik-E-mart and buying a candy bar with a US dollar bill. ...

Dave, you are being trolled.

[dave111223]

Why would you want to list on a stock market (NY stock exchange), that is causing more issues then it solves. You have read this so wrong, but I am not going to explain it, but yes if you listed on any stock exchange beside bitcoins you are against bitcoins. Cause bitcoins grew from what wall st did so why give them business

"Cause bitcoins grew from what wall st did"...

Pretty sure bitcoins grew out of a P2P network protocol that Satoshi wrote; how does Bitcoin protocol have anything to do with Wall street?

"...causing more issues then it solves".

What exactly are these "issues" that the NY stock exchange are causing?

"Why would you want to list on a stock market"

So that I can raise additional capital to expand my business, without having to fund the expansion through interest baring loans.

[dave111223]

How is US stock market any more a staple of the "legacy economy" than going to the Kwik-E-mart and buying a candy bar with a US dollar bill. ...

Dave, you are being trolled.

I don't actually think these guys are trolls, because you can see plenty of these types of people sitting in tents in various locations (such as "occupy wallstreet"; protesting the man...but actually they have no clue what they are protesting against, or what the reasons behind their protests are...IMHO these people detract from their cause rather than advance it.