Coinbase Raises $25 Million From Andreessen Horowitz

[sickpig]

http://blog.coinbase.com/post/69775463031/coinbase-raises-25-million-from-andreessen-horowitz

[El Dude]

I say there going to use this money to expand into Litecoin .

[sickpig]

I say there going to use this money to expand into Litecoin .

really? mind to share the source (serious quest)?

[crazy_rabbit]

I say there going to use this money to expand into Litecoin .

Or to expand into fiat.

[superduh]

I say there going to use this money to expand into Litecoin .

really? mind to share the source (serious quest)?

charles lee (creator of litecoin) works at coinbase.
his brother runs btcchina.
litecoins are coming to both in due time like it or not. the lee's have a vested interest

[sickpig]

I say there going to use this money to expand into Litecoin .

really? mind to share the source (serious quest)?

charles lee (creator of litecoin) works at coinbase.
his brother runs btcchina.
litecoins are coming to both in due time like it or not. the lee's have a vested interest

thanks for the insight. appriciated.

[minime]

they are one of the best Andreessen is the guy from Netscape, coinbase will be doomed for success
just my 2 cents

[BTCisthefuture]

Glad to see the amount of success coinbase is having. Even more glad to see the amount of ease and convience they are bringing to merchants and consumers,  should only get better now that they have more cash to play around with.

[LiteCoinGuy]

I say there going to use this money to expand into Litecoin .

really? mind to share the source (serious quest)?

charles lee (creator of litecoin) works at coinbase.
his brother runs btcchina.
litecoins are coming to both in due time like it or not. the lee's have a vested interest

mtgox - do YOU hear that  ??!

[Desensitizer]

This is great news. One of the best features of Coinbase is the fact you can trade and process transactions using SMS. This bypasses the app store ban that apple has imposed on the app store and adds yet another means of transferring bitcoins on an iPhone easily.

[predic]

ooooooooo we should be so happy that now NSA or CIA offer us wallet for bitcoins....

Greg Kidd worked at Booz Allen the same as Edward Snowden, and Garry Tan worked at Palantir:
http://rt.com/usa/palantir-fundraise-million-sec-546/

marc and ben horowitz also invested in NSA spying companies like Skype and others.

[daviducsb]

Does anyone here know how one can invest in coinbase? Buy shares somehow?

[proudhon]

Does anyone here know how one can invest in coinbase? Buy shares somehow?

They're not public.  The way to invest is to be a VC.

[btcmind]

Gavin joining the board of a company is not good news. Doesn't seem like the devs really care much about how something this looks. Logically next step that Bitcoin caters to 3-5 corporations.

Also online wallets are not good for the system. I mean, overall this is quite bad news. More homogeneity, more strange influences, etc. At this point if a couple of people would come together in a room, could corner the market. So next goal is to implement system which prevents something like this happening.

[Melbustus]

Does anyone here know how one can invest in coinbase? Buy shares somehow?

You have to be an "accredited investor" to even be legally allowed to buy shares in a private (ie, non-publicly traded) company. I think it's a net worth >$1m or income >$200,000/yr (something like that)...if you're in the US at least. Gotta love that only the already-wealthy are legally allowed to participate in the best deals....all supposedly for the sake of "protecting the consumer". #nannystate

Ranting aside, I'd watch for Coinbase to eventually show up on private-capital trading sites such as
https://welcome.sharespost.com/companies-on-sharespost
or SecondMarket.com

[daviducsb]

Thanks for the share post link. I wonder what the minimum would be to invest directly as a VC. Probably more than I have, but would be interesting to know. Probably gonna call them directly next week.

[Melbustus]

Thanks for the share post link. I wonder what the minimum would be to invest directly as a VC. Probably more than I have, but would be interesting to know. Probably gonna call them directly next week.

Angel rounds (which Coinbase is looong past) typically have a $25k min, at least in my experience. Sometimes a founder will do a "friends and family" seed round with a $5k or even $1k min, but you'd probably need to be having Holiday Dinner with Fred or Brian a year or two ago to pull that off. :-)

At this point, your best bet for getting equity exposure to Coinbase is:

1) Buy into one of the funds that invests in them. Don't know how to do this.
2) Become an accredited investor and wait for shares to trade on one of the private-equity markets.
3) Become an employee of Coinbase and partake in their employee-options program (assuming they have one).

So, probably not easy, unless you're a great developer, live in the Bay area, and are looking for a job.

[outofservice]

I say there going to use this money to expand into Litecoin .

really? mind to share the source (serious quest)?

charles lee (creator of litecoin) works at coinbase.
his brother runs btcchina.
litecoins are coming to both in due time like it or not. the lee's have a vested interest

+1
Thank you for that info.

This question is for anyone..  Can you see btc and ltc being put into a basket or becoming "the" basket?
IMO, these are the only two coins with serious long-term value and solidified foundation.... ~maybe Quark...

[Melbustus]

I say there going to use this money to expand into Litecoin .

really? mind to share the source (serious quest)?

charles lee (creator of litecoin) works at coinbase.
his brother runs btcchina.
litecoins are coming to both in due time like it or not. the lee's have a vested interest

+1
Thank you for that info.

This question is for anyone..  Can you see btc and ltc being put into a basket or becoming "the" basket?
IMO, these are the only two coins with serious long-term value and solidified foundation.... ~maybe Quark...

No. Litecoin doesn't offer any meaningful technical innovation over bitcoin. It may in the future - we'll see where the litecoin dev team takes things, but right now, it's a clone with different constants and another PoW alg. Not that interesting in the long-run (same for Quark). If it does not technically diverge from bitcoin in a meaningful way, it'll be really interesting to see if it retains its current position as the #2 crypto-coin. I tend to think it will not, but we're on completely experimental ground here. Great experiment.

IMO, there are only three alts that are at all interesting:
1) Namecoin - clearly a different function; need more of these sorts of experiments.
2) Peercoin - proof of stake *may* offer long-term benefits in terms of keeping network energy usage down and transaction fees low, but there are counter-arguments to its long-term viability. Another great experiment, though.
3) Primecoin - first attempt to do something sorta useful with the mining alg. I think people overstate the usefulness of what primecoin's mining alg does; it does NOT find big prime numbers. It finds certain types of related prime number chains. Those have *some* mathematical intrigue, but not nearly as "interesting" as finding new large primes. But regardless, this coin is a unique proof of concept, and that's cool.

 

[bryant.coleman]

charles lee (creator of litecoin) works at coinbase.
his brother runs btcchina.
litecoins are coming to both in due time like it or not. the lee's have a vested interest

Both BTC-China and Coinbase have shown no interest in Litecoin. Even the creator of Litecoin realizes that his invention is a dead horse.