Coinbase - Funded by Paul Graham

[bbit]

Coinbase just got funding from Paul Graham    thoughts on this ?

Bitcointalk Press area: https://bitcointalk.org/index.php?topic=90776.0

[Bitcoin Oz]

I think Paul Graham caused the recent price spike 

[bbit]

I think Paul Graham caused the recent price spike 

I think you could be right about this someone like him could easily move it! 

[Raoul Duke]

http://news.ycombinator.com/item?id=4178255

We're storing wallets in the cloud so this is an important concern.

No, thank you. I'll pass.

[Bitcoin Oz]

http://news.ycombinator.com/item?id=4178255

We're storing wallets in the cloud so this is an important concern.

No, thank you. I'll pass.

I also wonder about chargebacks if they link to bank accounts..

[bbit]

http://news.ycombinator.com/item?id=4178255

We're storing wallets in the cloud so this is an important concern.

No, thank you. I'll pass.

I also wonder about chargebacks if they link to bank accounts..

^^ Was just wondering the same thing  - also, I wonder for how much was put in?
So far, he has raised $164,000.

[Raoul Duke]

http://news.ycombinator.com/item?id=4178255

We're storing wallets in the cloud so this is an important concern.

No, thank you. I'll pass.

I also wonder about chargebacks if they link to bank accounts..

They'll just conclude sooner or later that they'll need to charge more than 0,5% to cover for fraud

[Bitcoin Oz]

http://news.ycombinator.com/item?id=4178255

We're storing wallets in the cloud so this is an important concern.

No, thank you. I'll pass.

I also wonder about chargebacks if they link to bank accounts..

^^ Was just wondering the same thing  - also, I wonder for how much was put in?
So far, he has raised $164,000.

Theres a $100 000 buy order at btc-e.com

[bbit]

Theres a $100 000 buy order at btc-e.com

Good lord! Lol 

[bitstarter]

Theres a $100 000 buy order at btc-e.com

Good lord! Lol 

Glad to hear this no doubt PG is a good person to have on Bitcoins side.

[Raoul Duke]

Theres a $100 000 buy order at btc-e.com

Good lord! Lol 

$85k at $6.55

[Clipse]

Dwolla 2.0 activated.

re buy order, WOW, I wonder if thats not a calculated risk taken by the admin to get users to deposit funds onto exchange and then wipe that order lol

[brian_armstrong]

Hello everyone, I'm working on Coinbase (and created Bitcoin Android last year).

You're right Paul Graham is a good person to have backing Bitcoin, and I'm hoping to bring in some more support from other Silicon Valley VCs.  0.5% isn't too bad (Paypal's fraud rate is less than this) but it's still super early stage so I don't want to make any assumptions too early.

Anyway, there are still lots of unanswered questions on the site about security etc (I am taking lots of notes and have chatted with about 100 users today during the launch).  I hope to provide more info soon.  If you have any feedback/questions feel free to email me (brian at coinbase) and I'll do my best to answer promptly.

[Bitcoin Oz]

Hello everyone, I'm working on Coinbase (and created Bitcoin Android last year).

You're right Paul Graham is a good person to have backing Bitcoin, and I'm hoping to bring in some more support from other Silicon Valley VCs.  0.5% isn't too bad (Paypal's fraud rate is less than this) but it's still super early stage so I don't want to make any assumptions too early.

Anyway, there are still lots of unanswered questions on the site about security etc (I am taking lots of notes and have chatted with about 100 users today during the launch).  I hope to provide more info soon.  If you have any feedback/questions feel free to email me (brian at coinbase) and I'll do my best to answer promptly.

You should get a  bitcoin security professional like Vladamir on board. Also setup cold storage for the coins you dont need to have in a hot wallet to run the site. And get a dedicated server in a locked cage

Edit: and dont keep your backups on the same server your site is on.

[bitstarter]

You should get a  bitcoin security professional like Vladamir on board. Also setup cold storage for the coins you dont need to have in a hot wallet to run the site. And get a dedicated server in a locked cage

Edit: and dont keep your backups on the same server your site is on.

Vladamir is some serious security backing behind him get him on board make us all feel good.

edit: oh and welcome Brian was just chatting w/ you thanks for taking the time to chat with us!

[Spekulatius]

@ Brian,

Hi, could you please shed some light on this:

- Why should I use coinbase over bitcoin directly?
   - in that relation: Why would I lay the fate of my funds into your hands, where they can be stolen, frozen, lost, delayed... any time?

- What fees apply to use your services?

- Do I need to have a coinbase account to receive/send payments with you? Do you also send to BTC adresses?


Thx

[dacoinminster]

How many times have you used the "chat" feature on a website and got to chat with the CEO?

That was a first for me. It was very fun, but probably won't ever happen again.

Brian is awesome, and seeing some VCs finally doing something with bitcoin is even more awesome.

Brian: Congratulations! And please let me know what you think of those links I sent

[bitstarter]

How many times have you used the "chat" feature on a website and got to chat with the CEO?

That was a first for me. It was very fun, but probably won't ever happen again.

Brian is awesome, and seeing some VCs finally doing something with bitcoin is even more awesome.

Brian: Congratulations! And please let me know what you think of those links I sent

I couldn't agree more its really, really neat to be able to do that ...thanks Brian for doing that! 

[dacoinminster]

Why should I use coinbase over bitcoin directly?

I think the question Brian is trying answer is "Why should my Grandma use coinbase over bitcoin directly?"

If he can provide real security and convenience, he'll be able to give Grandma something she'll never get from the bitcoin client installed on a PC. Sometimes we forget what a tiny percentage of the world's population are hackers and security experts.

[evoorhees]

You should get a  bitcoin security professional like Vladamir on board.

+100