COINBASE JUST DUMP 75MIL INTO BITCOIN

[TheWiseandUnwise]

at 75mill the price hop should have been bigger

This is Charlie Lee at Coinbase. I can confirm that we are indeed in the SF financial district. The HQ pictures are not staged. lol

The reason why we don't publicize our actual address is for the exact reason mentioned in this thread. Like someone said, banks and jewelry shops have been robbed for a lot less money. We have implemented security measures (cold storage, key splitting, ninja guards, etc.) to prevent rogue employees and armed gunmen from stealing the bitcoin we have stored for our users, but people don't know that. After hearing stories of how BitStamp lost 19,000 BTC, a crazy guy might just think it's worth the risk to come rob our office. And if they manage to get through our security to get to our office and find out that we aren't able to access the bitcoin, they are not going to be very happy. You can all imagine that this is NOT a situation we want to ever see ourselves in.

We'd rather be safe than sorry!

And to answer some of your questions.
A) We never claimed to be licensed in CA. The press did. I guess they just assumed we were. They also incorrectly claimed that we supported 25 states, when in fact we only supported 23 states + Puerto Rico at launch. We just started supporting Nebraska today.
B) The coinbase.com/lunar site was just a fun way to tease people on the internet and to create some buzz.
C) We've had USD wallets on Coinbase for 1.5 months now. You could have easily gotten money on our system and bought coins before we released the exchange. And if you had money in your USD wallet at launch, you would have been able to use our exchange immediately.
D) Our VC money is not meant to be used to speculate on Bitcoin price nor is it sane for us to support the Bitcoin price. We do not control the price. The market does.
E) It's not a fake address. We receive mail at that address.

https://www.youtube.com/watch?v=BROWqjuTM0g

75 million was not poured into bitcoin itself. Even if it was, it would be nothing more then drop in the bucket.

Going down.

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[JessicaSe]

coinbase raised 75M investment but it didn't mean that this fund will be used to buy bitcoins
it will used to expand operation,operating cost,development and other expenses, but not used for buying bitcoins

[newIndia]

Class action against Coinbase => https://bitcointalk.org/index.php?topic=941738.0

[Selena Gomez]

Incredible dump it will be really good to rebut at low price

[Inotanewbie]

coinbase raised 75M investment but it didn't mean that this fund will be used to buy bitcoins
it will used to expand operation,operating cost,development and other expenses, but not used for buying bitcoins

No, they are going to spend the money on improvements to their business as well as having an additional capital buffer against losses (although some of this will potentially eventually end up as being held in bitcoin).

I think more then anything this shows the confidence that other have in bitcoin

[BayAreaCoins]

...as well as having an additional capital buffer against losses...

They need to go a head and break out those checks for Rick Rolling us with that horse shit news.  They are fucked 6 ways from Sunday on that... they fucked up.  

I think more then anything this shows the confidence that other have in bitcoin

I really don't think anyone else besides Bitcoin holders have much confidence in Bitcoin tbh.  

I think they just want to try to skim 1% or taxes off people who have their nose to the grind stone.  Coinbase is the brown noser of the government thus far... I don't think it will last. I'm pretty sure the government is just making friends with them so they can bust their ass later.  

I wouldn't use Coinbase any more or tell a friend to use them either.