Circle: Bitcoin Made Easy | Bitcointalksearch.org

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: Keyser Soze on May 22, 2014, 02:02:56 PM

Quote from: ChuckBuck on May 22, 2014, 01:35:27 PM

You mean the price you buy at Circle would "intentionally" lag off a price, say from Bitstamp + or - $1 here and there?

My understanding is they are very similar to Coinbase and you are buying coins directly from them. They have their own buy/sell prices and their revenue is built into those prices.

Hmm, I see. So they create their own buy and sell prices, but are not classified as an exchange, because it's their own coins.

We'll see if they stay "free" after they've gained a large userbase.

Keyser Soze

sr. member

Activity: 470

Merit: 250

Quote from: ChuckBuck on May 22, 2014, 01:35:27 PM

You mean the price you buy at Circle would "intentionally" lag off a price, say from Bitstamp + or - $1 here and there?

My understanding is they are very similar to Coinbase and you are buying coins directly from them. They have their own buy/sell prices and their revenue is built into those prices.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: Keyser Soze on May 22, 2014, 01:31:29 PM

Quote from: ChuckBuck on May 22, 2014, 01:16:17 PM

I'm still unclear how Circle monetize or profit from our use of their service.

Fully insured, no fees, no transaction costs...how do they make money off of us to stay in business?

Sketchy, until this is spelled out somehow.

Otherwise, I think it'll be good for competition. Coinbase, will probably have to step it's game up a little to keep people from jumping ship.

I assume their revenue would be part of the spread they offer.

You mean the price you buy at Circle would "intentionally" lag off a price, say from Bitstamp + or - $1 here and there?

Keyser Soze

sr. member

Activity: 470

Merit: 250

Quote from: ChuckBuck on May 22, 2014, 01:16:17 PM

I'm still unclear how Circle monetize or profit from our use of their service.

Fully insured, no fees, no transaction costs...how do they make money off of us to stay in business?

Sketchy, until this is spelled out somehow.

Otherwise, I think it'll be good for competition. Coinbase, will probably have to step it's game up a little to keep people from jumping ship.

I assume their revenue would be part of the spread they offer.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

I'm still unclear how Circle monetize or profit from our use of their service.

Fully insured, no fees, no transaction costs...how do they make money off of us to stay in business?

Sketchy, until this is spelled out somehow.

Otherwise, I think it'll be good for competition. Coinbase, will probably have to step it's game up a little to keep people from jumping ship.

DooMAD

legendary

Activity: 3948

Merit: 3191

Leave no FUD unchallenged

There's already been at least 4 or 5 topics about Circle, did we really need another one?

But anyway, research carefully before you decide to put any money into it. They still haven't given full details about the business model and how it all works. And even once they do, they still control the private keys, so don't use them like a bank. Just change your money up and then withdraw your BTC to your own wallet.

rhyso

full member

Activity: 129

Merit: 100

Quote

AGREED!! Circle right now is a joke. In the future, a lot of people will be crying (instead of laughing) when it turns into a scam - ponzi style just like Gox.

lol at people refreshing Coin market cap all day waiting for the price to go up, but opposing any sort of structure that might attract the masses.

blackhathasher

member

Activity: 117

Merit: 10

My Precious!

Circle has to make money somewhere in their plan. from the outside looking in... it doesnt. therefore their profits have to come from somewhere.

but even more importantly... Circle and vis a vis Jeremy Allaire are US Government lap dogs who want nothing more than to co-opt the openness and freedom of bitcoin and have stated that they will actively report ANY AND ALL ACTIVITY that they deem suspicious to the Feds. Jeremy Allaire has stated many times publicly that he wants MORE regulation for bitcoin.

also the way i understand it they way they their signature system works if you put money into Circle you cannot remove your money from Circle without Circles express permission. but Circle will be able to move your money or freeze your funds any time they wish or at the behest of "Operation Chokepoint" or any other government whim.

moriartybitcoin

hero member

Activity: 560

Merit: 500

★777Coin.com★ Fun BTC Casino!

RedTea: You are 100% a SHILL poster for Circle. How much did they pay you?

And what you say here makes no sense:
'Current Bitcoin applications require users have at least some understanding of public key encryption, and the system functions like an unregulated trading platform. That’s great for hackers, thieves, and sharp speculators, but it’s not so good for people new to the technology. What Circle has done is create a safe, universally accessible and, at least for the moment, free platform to make Bitcoin more approachable for the next tier of early adopters.'

Come on, seriously? A user needs to have 'some understanding' of public key encryption to use a Blockchain wallet? Or an electrum wallet?

I think Circle needs to hire better PR reps .. because you're not making any sense.

moriartybitcoin

hero member

Activity: 560

Merit: 500

★777Coin.com★ Fun BTC Casino!

Quote from: calmindifference on May 22, 2014, 02:54:55 AM

When people talk of circle it's as if insurance is some kind of panacea. Insurance doesn't come for free, and there is no 100% certainty that it would pay out in the event.

Also a good point. I would be very skeptical of their 'insurance.' What, exactly, does the insurance protect you against? Hackers stealing coin from the site? The owner stealing EVERYONE'S coin? The government nuking the service and stealing everyone's coin if they decide to make Bitcoin illegal as in Russia? I would love to see the details of this 'insurance' that Circle keeps bragging about.

Oh, and what happens when the venture capital money dries up? Then where does the 'insurance fund' come from? Certainly not from profits, as CEO Jeremy Allaire brags about not wanting to make any profits ...

Something is very wrong with this service.

moriartybitcoin

hero member

Activity: 560

Merit: 500

★777Coin.com★ Fun BTC Casino!

Quote from: hloren70 on May 21, 2014, 01:59:00 PM

Circle is everything that Bitcoin was created to stand against.

AGREED!! Circle right now is a joke. In the future, a lot of people will be crying (instead of laughing) when it turns into a scam - ponzi style just like Gox.

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: neil95 on May 21, 2014, 10:59:51 PM

Quote from: Ron~Popeil on May 21, 2014, 10:33:58 PM

Quote from: hloren70 on May 21, 2014, 01:59:00 PM

Circle is everything that Bitcoin was created to stand against.

Care to elaborate a bit? I don't get the hatred on these forums for the idea of a safe exchange with insured holdings. I don't really have enough information yet to make up my mind about it so I am curious as to how it is so bad for bit coin.

Circle is highly centralised, which is something Bitcoin in general tries to avoid.
However, Circle seems like it could be great for beginners and would make more newbies interested in Bitcoin.

That is kind of the way I see it. A safe way to get involved for new users. Ideally most move on to secure wallets controlled by themselves.

Maygor

newbie

Activity: 51

Merit: 0

Bitcoin has to go beyond bitcoiners the same way years ago internet went beyond hackers...

neil95

newbie

Activity: 15

Merit: 0

Quote from: PCUser on May 22, 2014, 07:04:02 AM

this is not the best solution. It reminds too much of traditional banking.

You can always use Blockchain or a desktop wallet. No one is forcing you to use Circle. Tongue

PCUser

newbie

Activity: 37

Merit: 0

this is not the best solution. It reminds too much of traditional banking.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: neil95 on May 21, 2014, 11:50:11 PM

True. I think Circle just reminds Bitcoiners too much of traditional banking.

Great solution for those Bitcoiners.

Don't use it.

calmindifference

member

Activity: 91

Merit: 10

When people talk of circle it's as if insurance is some kind of panacea. Insurance doesn't come for free, and there is no 100% certainty that it would pay out in the event.

Acidyo

hero member

Activity: 588

Merit: 500

Will Bitcoin Rise Again to $60,000?

Has anyone gotten an invite from circle yet?

Chillin_with_beer

newbie

Activity: 43

Merit: 0

I'm more excited about 37coins, bringing btc to people without internet!

neil95

newbie

Activity: 15

Merit: 0

Quote from: Elwar on May 21, 2014, 11:25:52 PM

Quote from: neil95 on May 21, 2014, 10:59:51 PM

Quote from: Ron~Popeil on May 21, 2014, 10:33:58 PM

Quote from: hloren70 on May 21, 2014, 01:59:00 PM

Circle is everything that Bitcoin was created to stand against.

Care to elaborate a bit? I don't get the hatred on these forums for the idea of a safe exchange with insured holdings. I don't really have enough information yet to make up my mind about it so I am curious as to how it is so bad for bit coin.

Circle is highly centralised, which is something Bitcoin in general tries to avoid.
However, Circle seems like it could be great for beginners and would make more newbies interested in Bitcoin.

Overstock.com is highly centralized too.

So is CoinBase, BitStamp, BitPay, and just about any business that uses Bitcoin.

True. I think Circle just reminds Bitcoiners too much of traditional banking.

Topic: Circle: Bitcoin Made Easy (Read 1568 times)