Melbustus
Legendary
Offline
Activity: 1722
Merit: 1004
|
|
January 25, 2015, 10:20:11 PM |
|
I can't think of much better to do with a fresh $25M injection than getting full money-transmission licenses in most US states, complete with the surety bond coverage. The regs on that stuff (ie, the time and expense to get proper licensing) is why there's no major US exchange so far.
Answer to OP: Yes. "First U.S. Bitcoin Exchange Set to Open": http://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641
|
Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
|
|
|
Sitarow
Legendary
Offline
Activity: 1792
Merit: 1047
|
|
January 25, 2015, 10:28:34 PM |
|
I can't think of much better to do with a fresh $25M injection than getting full money-transmission licenses in most US states, complete with the surety bond coverage. The regs on that stuff (ie, the time and expense to get proper licensing) is why there's no major US exchange so far.
Answer to OP: Yes. "First U.S. Bitcoin Exchange Set to Open": http://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641"Coinbase’s founders say they have been working for five months to win licenses from state financial regulators. They have regulatory approval in half of U.S. states, including large population centers like New York and California"
|
|
|
|
wunkbone
|
|
January 25, 2015, 10:37:13 PM |
|
I can't think of much better to do with a fresh $25M injection than getting full money-transmission licenses in most US states, complete with the surety bond coverage. The regs on that stuff (ie, the time and expense to get proper licensing) is why there's no major US exchange so far.
I don't think they need licenses in states other then where they have their bank accounts located in. Look at mt gox for example. They were based in Japan however they had their US bank account seized because they were operating in the US without a proper licence
|
|
|
|
Guido
Legendary
Offline
Activity: 1061
Merit: 1001
|
|
January 25, 2015, 11:32:16 PM |
|
I can't think of much better to do with a fresh $25M injection than getting full money-transmission licenses in most US states, complete with the surety bond coverage. The regs on that stuff (ie, the time and expense to get proper licensing) is why there's no major US exchange so far.
Answer to OP: Yes. "First U.S. Bitcoin Exchange Set to Open": http://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641"Coinbase’s founders say they have been working for five months to win licenses from state financial regulators. They have regulatory approval in half of U.S. states, including large population centers like New York and California" interesting times ahead
|
I am Bonkers BTW Crypto OG + Digital Artist
|
|
|
sherbyspark
|
|
January 25, 2015, 11:37:01 PM |
|
With their new funding of 31 million, will Coinbase become the United States Major exchange? Will this start a frenzy among Americans to join the bitcoin craze? How will it effect the speculated value of bitcoin? Will other exchanges emerge and compete? Will more day traders emerge and push up the trading volume? Can this benefit the legitimization of bitcoin? All these questions are swimming through my mind Just saw this thread .Wasn't aware they had a 31 million funding before as well. Doesn't this take their funding to a 100 million ?
|
|
|
|
|
A.F.K
Newbie
Offline
Activity: 52
Merit: 0
|
|
January 25, 2015, 11:51:14 PM |
|
I wouldn't be surprised if they do. I've seen a lot of people give them flack on this forum, but I had a good experience with personally. Though I only bought once, so I don't have a ton of Coinbase experience. But from what I've been able to tell, it's certainly the easiest way to buy bitcoins in the United States right now, though certainly not the quickest.
And I think accord01 is right - you can buy bitcoins from Coinbase, but they aren't really an exchange like btc-e or bitstamp. I do like Coinbase, personally, but they're a fairly expensive way to buy bitcoins because of their 1% fees compared to the exchanges. I didn't mind that back when the price was $100, but now that it's over $900, if I end up buying more, I'll probably be buying them from btc-e.
Passive Bitcoiners love giving flack.
|
|
|
|
tntdgcr
Full Member
Offline
Activity: 219
Merit: 100
Bitcoin Mining Hosting
|
|
January 25, 2015, 11:54:57 PM |
|
CoinBase is great for those who have no issue with extensive KYC. for me, as a business owner, I have no issue doing Docs as they are just one of many players in my day to day that would ask.
If they added some level of exchange or at least a limited time wallet ( Load USD for 30 days -> use , return diff ) or something, that alone would be great, as I could then pay more staff with BTC with far more ease.
|
OregonMines is expanding. Are you expanding with us?
|
|
|
mayax
Legendary
Offline
Activity: 1470
Merit: 1004
|
|
January 25, 2015, 11:56:49 PM |
|
have you solved the problem with them?
|
|
|
|
Geenstijl
Legendary
Offline
Activity: 1232
Merit: 1000
|
|
January 25, 2015, 11:57:01 PM |
|
Coinbase is good for Bitcoin. The greedy investors behind it, who demand high returns on their investments, are not really that good...
|
|
|
|
mayax
Legendary
Offline
Activity: 1470
Merit: 1004
|
|
January 26, 2015, 12:08:19 AM |
|
i have a question for the hard core BTC community. you fight/fought for freedom, no Federal Reserve, no Gov, no IRS, no regulations just freedom, no corporations. many of you are excited that a company will be licensed in some States. Licensed means that will require you a LOT of papers and you will reported to IRS for sure. YOU WILL HAVE TO PAY TAXES FOR YOUR INCOME FROM BTC TRADING ! Coinbase will not be different than any other broker/forex from USA. You better use a normal broker or forex than using Coinbase for BTC trading. Coinbase's shareholders are "sharks" (they are ex-bankers) that you hated a while ago and you blamed them. They will earn A LOT of money and you will pay taxes.Also, many of you want/wanted DE-centralized exchanges. Why don't you use them? Why don't you create new ones? A licensed exchange is surely a centralized one. Why are you so excited about that? Where is your libertarian philosophy?
|
|
|
|
inBitweTrust
|
|
January 26, 2015, 12:10:23 AM |
|
Coinbase is good for Bitcoin. The greedy investors behind it, who demand high returns on their investments, are not really that good...
The 439 million in VC money flowing into Bitcoin companies and their greedy investors will insure the following: 1) Bitcoin will be their priority and they will do everything in their power to make sure regulations don't hurt their profits and Bitcoin remains legal Good for Bitcoin , Very bad for alts (Has their been any VC capital going into any alts besides a small amount to Ripple?) 2) Bitcoin will go mainstream and will likely start becoming a normal asset class like gold that investors dip into Very good for bitcoin price. 3) Bitcoin may start to become more regulated and centralized Good and bad for bitcoin ... but I don't think those regulators realize how difficult that may be when a bulk of the purseholders and developers are libertarian leaning to full on anarchists.
|
|
|
|
inBitweTrust
|
|
January 26, 2015, 12:14:14 AM |
|
i have a question for the hard core BTC community. you fight/fought for freedom, no Federal Reserve, no Gov, no IRS, no regulations just freedom, no corporations. many of you are excited that a company will be licensed in some States. Licensed means that will require you a LOT of papers and you will reported to IRS for sure. Coinbase will not be different than any other broker/forex from USA. Coinbase's shareholders are "sharks" that you hated a while ago and you blamed them. Also, many of you want/wanted DE-centralized exchanges. Why don't you use them? Why don't you create new ones? A licensed exchange is surely a centralized one. Why are you so excited about that? Where is your libertarian philosophy? We continue to use and work on decentralized exchanges /wallets like openbazaar/darkwallet/lighthouse and welcome well regulated exchanges like coinbase which act as stepping stones for those that need to slowly start to transition into crypto-currencies. Some of us are fine with pragmatic and a realistic evolution into a more peaceful society and don't have any delusions that it will happen overnight.
|
|
|
|
darkphantom934
|
|
January 26, 2015, 12:17:40 AM |
|
I think Coinbase is already America's major exchange. I have yet to find an exchange that is even close in design, usability, and security.
|
|
|
|
mayax
Legendary
Offline
Activity: 1470
Merit: 1004
|
|
January 26, 2015, 12:17:55 AM |
|
i have a question for the hard core BTC community. you fight/fought for freedom, no Federal Reserve, no Gov, no IRS, no regulations just freedom, no corporations. many of you are excited that a company will be licensed in some States. Licensed means that will require you a LOT of papers and you will reported to IRS for sure. Coinbase will not be different than any other broker/forex from USA. Coinbase's shareholders are "sharks" that you hated a while ago and you blamed them. Also, many of you want/wanted DE-centralized exchanges. Why don't you use them? Why don't you create new ones? A licensed exchange is surely a centralized one. Why are you so excited about that? Where is your libertarian philosophy? We continue to use and work on decentralized exchanges /wallets like openbazaar/darkwallet/lighthouse and welcome well regulated exchanges like coinbase which act as stepping stones for those that need to slowly start to transition into crypto-currencies. Some of us are fine with pragmatic and a realistic evolution into a more peaceful society and don't have any delusions that it will happen overnight. Realistic and pragmatic, what difference will be between Paypal and Coinbase? same shit, same regulations. what I am trying to say is that BTC is/was based on the libertarian philosophy which is saying " Economic liberalism, keep, and exchange their holdings , no gov interference, etc... Let's get real. Bitcoin has around of 600K real users now, approx 150K of them are trading. What are the chances for ALT coins? Only if the people will migrate from BTC to ALT coin.
|
|
|
|
inBitweTrust
|
|
January 26, 2015, 12:23:11 AM |
|
Let's get real. Bitcoin has around of 600K real users now, approx 150K of them are trading. What are the chances for ALT coins? Only if the people will migrate from BTC to ALT coin.
I agree that alts don't have much of a chance... are you arguing with yourself? https://www.coinbase.com/aboutCoinbase has 2.2million wallets and 1.9million unique users(They follow KYC) and they just started to expand outside the US. This would indicate a very conservative estimate of 4-5 million BTC users worldwide because the chinese have invested more than Americans. Where are you getting your "facts" from? same shit, same regulations. what I am trying to say is that BTC is/was based on the libertarian philosophy which is saying " Economic liberalism, keep, and exchange their holdings , no gov interference, etc...
Yes, and.... go ahead and finish your thought. You do realize that bitcoin is a decentralized open source protocol, and despite any anarchistic qualities it can have a "big umbrella" of various users with different interests, right? There are no gatekeeper telling Kim Jong un or Obama that they can't benefit from bitcoin. Bitcoin as a superior technology can compete regardless of how people feel about its origins.
|
|
|
|
odolvlobo
Legendary
Offline
Activity: 4452
Merit: 3391
|
|
January 26, 2015, 12:29:17 AM |
|
I think Coinbase is already America's major exchange. I have yet to find an exchange that is even close in design, usability, and security. Well, it isn't an exchange yet. That will happen tomorrow. It is important to understand the difference. At an exchange, buyers and sellers are competing for the best price. At Coinbase, they set the price to whatever they want and it won't be the best price for you. I'm glad that Circle appeared because the competition is forcing Coinbase to give its customers better prices.
|
Join an anti-signature campaign: Click ignore on the members of signature campaigns. PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
|
|
|
mayax
Legendary
Offline
Activity: 1470
Merit: 1004
|
|
January 26, 2015, 12:32:47 AM |
|
Let's get real. Bitcoin has around of 600K real users now, approx 150K of them are trading. What are the chances for ALT coins? Only if the people will migrate from BTC to ALT coin.
I agree that alts don't have much of a chance... are you arguing with yourself? https://www.coinbase.com/aboutCoinbase has 2.2million wallets and 1.9million unique users(They follow KYC) and they just started to expand outside the US. This would indicate a very conservative estimate of 4-5 million BTC users worldwide because the chinese have invested more than Americans. Where are you getting your "facts" from? These companies like Coinbase, Blockchain and other can report billions of wallets. Maybe it is true or maybe it is not. Let's not forget that most of the BTC users have more than one wallet. FACTS : https://blockchain.info/charts/n-transactions - around of 90K transactions per dayhttps://blockchain.info/charts/n-unique-addresses - around of 150K unique address usedhttps://bitscan.com/bitnews/item/how-many-people-really-own-bitcoins-and-why-does-it-matter - a nice analyze
|
|
|
|
inBitweTrust
|
|
January 26, 2015, 12:37:50 AM |
|
First 2 links don't prove anything as unique addresses are always in flux and don't represent all the off the chain transactions. Last link contradicts what you stated and is an article dated back in Feb 2014. Coinbase follows KYC(2.2 million wallets and 1.9 million unique users) and users almost all exclusively in the US. This is why I didn't add up coinbase + circle+ blockchain+ ect.... My 4-5 million estimate is extremely conservative. Realistically, there are probably 7-8 unique million users now worldwide. Are you suggesting Coinbase is lying about those unique users? Do you really think those 37 VC companies didn't do their due diligence before investing 106 million in coinbase?
|
|
|
|
mayax
Legendary
Offline
Activity: 1470
Merit: 1004
|
|
January 26, 2015, 12:56:28 AM Last edit: January 26, 2015, 01:08:55 AM by mayax |
|
First 2 links don't prove anything as unique addresses are always in flux and don't represent all the off the chain transactions. Last link contradicts what you stated and is an article dated back in Feb 2014. Coinbase follows KYC(2.2 million wallets and 1.9 million unique users) and users almost all exclusively in the US. This is why I didn't add up coinbase + circle+ blockchain+ ect.... My 4-5 million estimate is extremely conservative. Realistically, there are probably 7-8 unique million users now worldwide. Are you suggesting Coinbase is lying about those unique users? Do you really think those 37 VC companies didn't do their due diligence before investing 106 million in coinbase? I doubt that it's x 4 more BTC real users since a year ago. Remember that MTGox failed in 2014 and China banned Bitcoin and many BTC users gone. around of 150K unique address used = it doesn't even mean real users. someone can send BTC to himself (from one account to another). I am suggesting that Coinbase has shareholders that 99% from the BTC community blamed a while ago. Also, I am suggesting that those "sharks" are not investing without thinking to profit. Let's remember that many these "investors" own +80% from BTC. They own Bitstamp, BTC China, Coinbase
|
|
|
|
|