Coinbase raises $100M Series D led by IVP

Re:Coinbase raises $100M Series D led by IVP by zjaffee on Thursday August 10, 2017 @01:54PM (#14982292)

Many of these things are no different than holding large amounts of normal cash(of any currency really) or something such as gold, with the exception of their being a ledger of all trades that have occurred. Also bitcoins can certainly be seized by the government should they size control over any accounts you hold coins in, take your computers, ect (it's just harder to do so).

Also I think your missing the biggest use case, abet one that isn't frequently discussed, and it is that crypto currencies are by far the best digital payment solution when it comes to the time it takes for transactions to clear. There is no dispute process, and there is no waiting on the fed for their ACA system to clear your transactions. However, I think a lot of people prefer credit cards for cash back and to have the option to charge back, but certainly cryptos are better for sellers (and potentially will give discounts to those who use them in the future).

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Re:Coinbase raises $100M Series D led by IVP by pedrocr on Thursday August 10, 2017 @02:03PM (#14982381)

>crypto currencies are by far the best digital payment solution when it comes to the time it takes for transactions to clear

Isn't paypal much faster than crypto currencies at doing the same? The normal banking system is quite slow (in part for good reasons) but the digital currencies that came before the crypto currencies are much better at this already, and better than bitcoin will ever be.

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Re:Coinbase raises $100M Series D led by IVP by fpgaminer on Thursday August 10, 2017 @02:41PM (#14982772)

You missed the salient word: "clear"

PayPal transactions never really clear. You can probably reverse a 3 year old PayPal transaction...

But Bitcoin payments are irreversible after only 1 hour. There are no other systems that accomplish that online.

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Re:Coinbase raises $100M Series D led by IVP by pedrocr on Thursday August 10, 2017 @03:39PM (#14983326)

If your definition of clearing is that they can't be reversed then nothing that isn't a crypto currency allows it. That's not the usual definition of transaction clearing though.

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Re:Coinbase raises $100M Series D led by IVP by discombobulate on Thursday August 10, 2017 @05:59PM (#14984733)

Coinbase uses the term 'digital currency' to -- I believe -- placate NY regulators & to support their regulation moat.

You're correct: if crypto currencies were digital currencies there would be no advantage. However, crypto assets are decentralised & resistant to censorship. The power shifts away from the nation state (& Trump), & toward individuals.

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Re:Coinbase raises $100M Series D led by IVP by 0x4f3759df on Thursday August 10, 2017 @02:04PM (#14982393)

There are many aspects to bitcoin I just named a few, I'll bet there are others I've forgotten besides the one you mentioned.

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