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Author Topic: Circle: Bitcoin Made Easy  (Read 1485 times)
blackhathasher
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May 22, 2014, 06:05:03 PM
 #21

Circle has to make money somewhere in their plan. from the outside looking in... it doesnt. therefore their profits have to come from somewhere.

but even more importantly... Circle and vis a vis Jeremy Allaire are US Government lap dogs who want nothing more than to co-opt the openness and freedom of bitcoin and have stated that they will actively report ANY AND ALL ACTIVITY that they deem suspicious to the Feds. Jeremy Allaire has stated many times publicly that he wants MORE regulation for bitcoin.

also the way i understand it they way they their signature system works if you put money into Circle you cannot remove your money from Circle without Circles express permission. but Circle will be able to move your money or freeze your funds any time they wish or at the behest of "Operation Chokepoint" or any other government whim.

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rhyso
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May 22, 2014, 06:07:28 PM
 #22


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AGREED!! Circle right now is a joke. In the future, a lot of people will be crying (instead of laughing) when it turns into a scam - ponzi style just like Gox.


lol at people refreshing Coin market cap all day waiting for the price to go up, but opposing any sort of structure that might attract the masses.


accrual of monetary value
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May 22, 2014, 06:12:47 PM
 #23

There's already been at least 4 or 5 topics about Circle, did we really need another one?

But anyway, research carefully before you decide to put any money into it.  They still haven't given full details about the business model and how it all works.  And even once they do, they still control the private keys, so don't use them like a bank.  Just change your money up and then withdraw your BTC to your own wallet.

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May 22, 2014, 06:16:17 PM
 #24

I'm still unclear how Circle monetize or profit from our use of their service.

Fully insured, no fees, no transaction costs...how do they make money off of us to stay in business?

Sketchy, until this is spelled out somehow.

Otherwise, I think it'll be good for competition.  Coinbase, will probably have to step it's game up a little to keep people from jumping ship.

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Keyser Soze
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May 22, 2014, 06:31:29 PM
 #25

I'm still unclear how Circle monetize or profit from our use of their service.

Fully insured, no fees, no transaction costs...how do they make money off of us to stay in business?

Sketchy, until this is spelled out somehow.

Otherwise, I think it'll be good for competition.  Coinbase, will probably have to step it's game up a little to keep people from jumping ship.
I assume their revenue would be part of the spread they offer.
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May 22, 2014, 06:35:27 PM
 #26

I'm still unclear how Circle monetize or profit from our use of their service.

Fully insured, no fees, no transaction costs...how do they make money off of us to stay in business?

Sketchy, until this is spelled out somehow.

Otherwise, I think it'll be good for competition.  Coinbase, will probably have to step it's game up a little to keep people from jumping ship.
I assume their revenue would be part of the spread they offer.

You mean the price you buy at Circle would "intentionally" lag off a price, say from Bitstamp + or - $1 here and there?

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Keyser Soze
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May 22, 2014, 07:02:56 PM
 #27

You mean the price you buy at Circle would "intentionally" lag off a price, say from Bitstamp + or - $1 here and there?
My understanding is they are very similar to Coinbase and you are buying coins directly from them. They have their own buy/sell prices and their revenue is built into those prices.
ChuckBuck
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May 22, 2014, 07:13:07 PM
 #28

You mean the price you buy at Circle would "intentionally" lag off a price, say from Bitstamp + or - $1 here and there?
My understanding is they are very similar to Coinbase and you are buying coins directly from them. They have their own buy/sell prices and their revenue is built into those prices.

Hmm, I see.  So they create their own buy and sell prices, but are not classified as an exchange, because it's their own coins.

We'll see if they stay "free" after they've gained a large userbase.

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