NYSE invests in bitcoin ecosystem

[Dilla]

NYSE investing in anything Bitcoin related is extremely bullish for the future of Bitcoin. They are expecting it to grow and expand more. I think there will be a final drop down, then we will see Wall Street enter and see a new ath before the summers end.

[randy8777]

any kind of news don't seem to affect the price nowadays beside hacked exchanges.
the news itself is great, but let's see how the market will react this month.

[Levitron]

So we have the NYSE and the NASDAQ getting on board? Things are about to get real soon

[montreal]

institutional investors!

[sed]

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.

Nice to hear a little good news for once.  I'm tired of all the haters.

[Melbustus]

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.

Had to quote this skepticism. Care to give a testable prediction for by when Coinbase will have experienced "another hilariousity [sic] meltdown"?

Reddit thread for those who *actually* want more info: http://www.reddit.com/r/Bitcoin/comments/2t1tp0/coinbase_raises_75m_from_dfj_growth_usaa_bank/

[ElectricMucus]

My guess is 75 million divided by their daily volume in days plus two weeks™.

But what do I care, I'll hope it's unexpected and comes when nobody could have predicted it. (As usual  )

[twiifm]

I think it's because coin base just released some USD web wallet.  Even if Bitcoin meltsdown their business can survive

[tss]

no one watches the news.  at least not some bs partnership agreements.  nyse is NOT selling bitcoin

[waaat?]

NYSE investing in anything Bitcoin related is extremely bullish for the future of Bitcoin. They are expecting it to grow and expand more. I think there will be a final drop down, then we will see Wall Street enter and see a new ath before the summers end.

wallstreet is on alts - old bitcoin is old - and not a good store for value so it's a bad investement.

[BTCtrader71]

wallstreet is on alts

waaat?

[freedomno1]

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.

It's out of mainstream for a while
I guess whenever the media feels like doing a what has happened since 2013-2014 to bitcoin and does a highlight reel we might see some more attention on these type of changes.

[Chef Ramsay]

wallstreet is on alts

waaat?

It would be one thing if the newer folks shaded their nonsense for some time but most go full crackpipe showing their true colors. Ignore and ostracizing is the only option at this point. Dumbest thing I've read here in a while that wallst is going into alts at the deterioration of bitcoin. So ridiculous.

[toknormal]

I don't know why you're all going on about the NYSE. Who gives a f*ck about them.

What about BBVA ?

This is massive. BBVA is a BANK. Not only are they a bank but they are a multinational and the second biggest bank in Spain.

http://en.wikipedia.org/wiki/Banco_Bilbao_Vizcaya_Argentaria
https://www.bbva.es/particulares/index.jsp

What's of significance here isn't this particular investment - albeit it's a big one - but what it says about how the established financial induistry sees cryptocurrencies. What this is is a hedge - and a pretty significant one at that because it's being done in full public gaze which means it's a message to their competitors.

For a multinational bank to declare an active interest in the future of Bitcoin to the point that they participate in the largest single VC round ever made gives the lie to all the mainstream media FUD that's appeared since the price decliine of 2014. It shows that interested parties take a totally different view to that of the clueless media critics who are slamming bitcoin just because of the price decline.

Make no mistake, whether it affects the price or not is immaterial. This is big stuff. It's nearly a quarter of the 2014 VC budget for the *entire industry*, spent on 1 company in 1 round in 1 month of 2015.

So far, we're tracking exactly the evolution of the world wide web in the early ninetees. Expect exponential growth at some point in the near future. The Netscapes and Google's are round the corner.

[waaat?]

wallstreet is on alts

waaat?

It would be one thing if the newer folks shaded their nonsense for some time but most go full crackpipe showing their true colors. Ignore and ostracizing is the only option at this point. Dumbest thing I've read here in a while that wallst is going into alts at the deterioration of bitcoin. So ridiculous.

just said it ...

Bagholders now transitioning from calling 'beartroll' to being sour. Malicous stage and blaming it all on you next.

[tadakaluri]

This may increase Coinbase value not BTC......

[waaat?]

It's funny that bitcoin suppose to get rid of banks, now bitcoiners are begging for bank's in

Yes, the whoring for big money intensifies.

[ChuckBuck]

It's funny that bitcoin suppose to get rid of banks, now bitcoiners are begging for bank's in

Yes, the whoring for big money intensifies.

Why can't Bitcoin co-exist with the existing banking and financial system in place?

No need to replace what works....until it stops working.

For now, it can be an option or supplement.  A few years ago hardly anyone did banking online, you'd have to go to the local bank and wait in line to meet with a banker to do any banking.  Now you can open accounts, pay bills, send money, and transact using your mobile phone.

It doesn't have to be an either/or situation right now.

[ChuckBuck]

It's funny that bitcoin suppose to get rid of banks, now bitcoiners are begging for bank's in

Yes, the whoring for big money intensifies.

Why can't Bitcoin co-exist with the existing banking and financial system in place?

No need to replace what works....until it stops working.

For now, it can be an option or supplement.  A few years ago hardly anyone did banking online, you'd have to go to the local bank and wait in line to meet with a banker to do any banking.  Now you can open accounts, pay bills, send money, and transact using your mobile phone.

It doesn't have to be an either/or situation right now.

Wow, this changement happens so fast
I wonder when beggars will say "bitcoin hasn't to be succeed, just act as 1% of fiat then we are satisfied" later "just as long as banks allow bitcoin to live at $0.00001 then i am satisfied" etc..

What is a changement?  And who's begging?

You do realize Bitcoin is 6 years old, right?  Fiat has been around hundreds of years, but like all things, there is an end date.

I mean it's literally been only a few years since much of Europe switched to the Euro, replacing many of their existing currencies.

Don't become too invested in the concept of fiat in an overly increasing technology driven world.  Could be gone before you know it.

[jaredboice]

I don't know why you're all going on about the NYSE. Who gives a f*ck about them.

What about BBVA ?

This is massive. BBVA is a BANK. Not only are they a bank but they are a multinational and the second biggest bank in Spain.

http://en.wikipedia.org/wiki/Banco_Bilbao_Vizcaya_Argentaria
https://www.bbva.es/particulares/index.jsp

What's of significance here isn't this particular investment - albeit it's a big one - but what it says about how the established financial induistry sees cryptocurrencies. What this is is a hedge - and a pretty significant one at that because it's being done in full public gaze which means it's a message to their competitors.

For a multinational bank to declare an active interest in the future of Bitcoin to the point that they participate in the largest single VC round ever made gives the lie to all the mainstream media FUD that's appeared since the price decliine of 2014. It shows that interested parties take a totally different view to that of the clueless media critics who are slamming bitcoin just because of the price decline.

Make no mistake, whether it affects the price or not is immaterial. This is big stuff. It's nearly a quarter of the 2014 VC budget for the *entire industry*, spent on 1 company in 1 round in 1 month of 2015.

So far, we're tracking exactly the evolution of the world wide web in the early ninetees. Expect exponential growth at some point in the near future. The Netscapes and Google's are round the corner.

No money went into btc directly.  When investors truly believe that something such as bitcoin will go up, they buy it directly (ex. look at people buying oil and storing it is ships, they don't care that it hasn't bottomed, they know it will go up because they believe in it.)

It's funny that bitcoin suppose to get rid of banks, now bitcoiners are begging for bank's in to save the dying bitcoin

Looks more like Banks are begging to get into Bitcoin LOL

Considering that we are still up over 8 Million percent even after the 85% correction (one of many) I'd say we have a long way to go before Bitcoin dies for good. 

For the latest Eulogy after "dying" and coming back from the dead over 39 times:
http://bitcoinobituaries.com/

 

Haters gonna hate, trollers gonna troll