BTCtrader71 (OP)
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January 20, 2015, 07:42:25 PM |
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very bullish Coinbase, a software company that allows people to buy bitcoin and enables businesses to accept it as payment, has closed a giant $75 million investment. In real U.S. dollars.
The round is by far the biggest investment in a bitcoin company to date. Beyond its size, the funding is sure to make waves in financial services thanks to the participation of three industry investors: the New York Stock Exchange, USAA Bank, and BBVA, a multinational bank with a large presence in Spain and Mexico. Former Citigroup CEO Vikram Pandit also personally invested in the company.
With its latest financing round, Coinbase has also received a nod from the established financial sector. New investors in Coinbase include the New York Stock Exchange, the financial services firm USAA and the Spanish bank BBVA. Vikram S. Pandit, a former chief executive of Citigroup, and Thomas H. Glocer, a former chief executive of Thomson Reuters, also invested in the round.
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BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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stonerider
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January 20, 2015, 07:54:45 PM |
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Agreed, very bullish news. However, btc price hasn't budged a bit. It's like the collective mass just shrugged and said "Meh". Very curios.
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BrewCrewFan
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January 20, 2015, 07:54:56 PM |
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very bullish Coinbase, a software company that allows people to buy bitcoin and enables businesses to accept it as payment, has closed a giant $75 million investment. In real U.S. dollars.
The round is by far the biggest investment in a bitcoin company to date. Beyond its size, the funding is sure to make waves in financial services thanks to the participation of three industry investors: the New York Stock Exchange, USAA Bank, and BBVA, a multinational bank with a large presence in Spain and Mexico. Former Citigroup CEO Vikram Pandit also personally invested in the company.
With its latest financing round, Coinbase has also received a nod from the established financial sector. New investors in Coinbase include the New York Stock Exchange, the financial services firm USAA and the Spanish bank BBVA. Vikram S. Pandit, a former chief executive of Citigroup, and Thomas H. Glocer, a former chief executive of Thomson Reuters, also invested in the round.
Come on now, you should know by now that when good stuff like this happens, its not bullish, but instead dumps start crashing the price. Dont get me wrong , I love BTC , but Ill give it a week to see where we are at lol.
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tarmi
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January 20, 2015, 07:57:37 PM |
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they are investing in a company, not underlying technology.
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BTCtrader71 (OP)
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January 20, 2015, 08:15:22 PM |
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very bullish Coinbase, a software company that allows people to buy bitcoin and enables businesses to accept it as payment, has closed a giant $75 million investment. In real U.S. dollars.
The round is by far the biggest investment in a bitcoin company to date. Beyond its size, the funding is sure to make waves in financial services thanks to the participation of three industry investors: the New York Stock Exchange, USAA Bank, and BBVA, a multinational bank with a large presence in Spain and Mexico. Former Citigroup CEO Vikram Pandit also personally invested in the company.
With its latest financing round, Coinbase has also received a nod from the established financial sector. New investors in Coinbase include the New York Stock Exchange, the financial services firm USAA and the Spanish bank BBVA. Vikram S. Pandit, a former chief executive of Citigroup, and Thomas H. Glocer, a former chief executive of Thomson Reuters, also invested in the round.
Come on now, you should know by now that when good stuff like this happens, its not bullish, but instead dumps start crashing the price. Dont get me wrong , I love BTC , but Ill give it a week to see where we are at lol. Short term, who the hell knows what effect this will have on price, if any. But I see this as a long term bullish indicator, that 5-10 years from now bitcoin will still be alive and well. And that it is an excellent long term investment.
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BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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BTCtrader71 (OP)
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January 20, 2015, 08:23:56 PM |
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they are investing in a company, not underlying technology.
That's why I changed the title to say they are investing in the bitcoin ecosystem, not investing in bitcoin
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BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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redsn0w
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#Free market
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January 20, 2015, 08:28:06 PM |
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Maybe this is a great news for the bitcoin ecosystem , we will see if the price will rise or not ( but I don't think).
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RodeoX
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The revolution will be monetized!
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January 20, 2015, 08:40:22 PM |
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they are investing in a company, not underlying technology.
That's why I changed the title to say they are investing in the bitcoin ecosystem, not investing in bitcoin And to be fair, there is no way to "invest" in the protocol. Bitcoin does not need money to work and I don't know who you would give money too? The economy is now at the stage of development when businesses will build on the protocol. There is huge money to be made in legal exchanges, payment processing, insurance, bitcoin banking services, etc. That is what all the VC money is for. I don't know what Coinbase is doing with that money, but there is a race on to be the first BTC ATM network. MSB Licensing money?
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ChuckBuck
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January 20, 2015, 08:40:29 PM |
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Hey $75 million isn't anything to sneeze at! That's alot of money, pretty decent size investment money into Coinbase.
If NYSE didn't believe in the longterm viability of Crypto, they wouldn't have put in a stake in a Bitcoin based company.
Helps Bitcoin ecosystem longterm, but I don't anticipate any sort of price action to reflect this news.
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zby
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January 20, 2015, 08:40:36 PM |
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...
Come on now, you should know by now that when good stuff like this happens, its not bullish, but instead dumps start crashing the price.
Dont get me wrong , I love BTC , but Ill give it a week to see where we are at lol.
In many cases in the past it looked as if the insiders bought before the info got public - and then after the announcement had moved the price they dumped into the rally banking on the profit they made.
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ElectricMucus
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Marketing manager - GO MP
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January 20, 2015, 08:55:44 PM |
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Remind me, what does coinbase again, exactly?
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Dilla
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January 20, 2015, 08:59:47 PM |
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Investing in the more profitable aspect of Bitcoin, no matter the price, an exchange. Makes sense.
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Eamorr
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January 20, 2015, 09:11:38 PM |
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So Bitcoin now needs a $75m cash injection every day to stop the market cap hemorrhage and stay above $200?
Great! Bullish^2!
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tvbcof
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January 20, 2015, 09:20:54 PM |
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Remind me, what does coinbase again, exactly?
Mostly monetize user data streams for business intel purposes would be my guess. A well proven business model. It'll be interesting to see if they are bought by Wells-Fargo or the Apple/Google class crowd. When the deal goes down (which could be what we are seeing) it may well be more beneficial for the purchaser to keep them outwardly independent...it would not make much difference to their 'product line' but it would be better for PR perhaps and a little bit of isolation helps on the legal front often times. Coinbase seems to take a dim view of people who simply have control of a certain number of BTC even when the history is pretty easily traced. When it's not, they apparently simply cancel accounts from what I pick up from Maxwell's input. No wonder he's extra-motivated to try to change the course of Bitcoin's trajectory.
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sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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ElectricMucus
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January 20, 2015, 10:52:56 PM |
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Remind me, what does coinbase again, exactly?
Mostly monetize user data streams for business intel purposes would be my guess. A well proven business model. It'll be interesting to see if they are bought by Wells-Fargo or the Apple/Google class crowd. When the deal goes down (which could be what we are seeing) it may well be more beneficial for the purchaser to keep them outwardly independent...it would not make much difference to their 'product line' but it would be better for PR perhaps and a little bit of isolation helps on the legal front often times. Coinbase seems to take a dim view of people who simply have control of a certain number of BTC even when the history is pretty easily traced. When it's not, they apparently simply cancel accounts from what I pick up from Maxwell's input. No wonder he's extra-motivated to try to change the course of Bitcoin's trajectory. I don't get it. What I do get is their exchange and money transmitting business and it's principal long term profitability, and that they represent an important name related to Bitcoin. I don't think they have any other business model, don't think they have any use for investor capital and I see it questionable if they stand up to scrutiny once regulation comes through. But what the hell, I better not complain.  The more risky business done with more money when it comes to Bitcoin, the greater chance there is for another hilariousity meltdown. I guess whoever slung a cool 75 mil at them couldn't wait for the fat chance that after regulation there could be others dumping even more in.
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ensurance982
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January 20, 2015, 11:04:30 PM |
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I guess it's really good news, but Bitcoin doesn't do big jumps on good news anymore. It's good to see money flowing into BTC companies in these dire times - in terms of BTC price of course...
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coinableS
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January 20, 2015, 11:33:38 PM |
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Oh yea! Now that's good news, just bought another coin for the stash.
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knight22
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--------------->¿?
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January 20, 2015, 11:34:56 PM |
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The NYSE is a private entity?
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BrewCrewFan
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January 20, 2015, 11:46:02 PM |
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The NYSE is a private entity?
Nope they are public.
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coinableS
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January 20, 2015, 11:59:10 PM |
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The NYSE is a private entity?
Nope they are public. Really, where is it traded? Is NYSE traded on the NYSE?
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