Topic: Coinbase announcement on Monday (Read 5752 times)

Haha, true that. It's good to see a few others (besides myself) in this forum with their heads/minds free of delusions of grandeur.

Smart man! Now you see what is being said to those that know how to get to the bottom of the Male Bovine Fecal pile... keep your eyes on the "leaders and devs" of BTC

BTW I do not want to go too deep into the "Hows and whats" But lets say if CB allows certain government agencies to spike the blockchain with a passive "Man in the Middle" MITM, MitM, MIM, MiM or MITMA on the "transaction" the end result is a done deal, kinda like the hackers do now... I am sure the "certain" governmental agencies will allow the sky to open up and rain gold on them.... meanwhile their customers are getting audit notices in the mail.

Ok I am done with my FUD rant/speculation/hysteria or whatever else you want to call it....

Yes sir. BTC with credit cards is a genius idea for creditors. What better way to lock customers into debt? You have existing fiat debt and new forms of credit/debt on the digital level. Best part is a lot of these companies are investing in the platforms surrounding derivatives (Citigroup, NYSE). Now they can trade BTC debt and gamble it in a semi-regulated exchange (to which they are investors of) to increase profits even more. I just wish I had millions to invest.

I almost see BTC as a way for companies/governments/world to shed their fiat debts in exchange for a new era of digital debts and commerce. It's like starting over version 2.0. New digital credit backed from fiat capital being spent to finance this digital currency foray. Use debt to create a new economy out of nothing backed by nothing (QE).

Its a done deal... if you know where to look and who is saying what, they are telegraphing the play. The thing is you have to be smart enough to read between the lines.

For instance "Fortune Magazine" is front running things.. as odd as that may seem. I will give you an example of what is really being said.

http://fortune.com/2015/01/22/qa-gavin-andresen-bitcoin-foundation/?utm_source=bitcoinweekly&utm_medium=email

In the last year, the regulation picture has gotten a lot clearer in the U.S. and most of Europe. And that’s fantastic. I think that’s why you’re seeing companies like Microsoft and Dell accepting Bitcoins. If people pay you in Bitcoins for products and services, it’s clearer now what taxes you owe, how you treat Bitcoins, and so on. In other parts of the world it’s still fuzzy. If I was living in a country where the regulators hadn’t said one way or another how these newfangled cryptocurrencies should be treated, I’d be more worried.

Like I said its a trade off.... Buy BTC on credit cards? Ummmm you mean like a Citibank CC? We all know how much annonymity that will get someone LOLz

Too bad this is the announcement they made. I thought they were going for alts... Apparently the "source" around here was wrong lol.


Agreed, bye bye anonymity if you use them. As for regulation/centralization, they will never achieve it (they would kill their own business if they could achieve it somehow)

That's one of the things they are doing very intelligently. Everything they've incorporated into the exchange looks very sound and well thought-through. The fee system is just the icing on the cake - no actually it's the filling, I guess. But yeah, this truly is a next-generation exchange. Still centralized, but legally registered, insured, backed by NYSE, awesome API, etc...

This is what I worry about. I have been a long time Coinbase customer since its beginnings and over the years I have seen them slowly integrate more and more tracking with regards to tying your customer profile to addresses you send coins to or asking you about who you are transferring coins.

I suppose, the tax man wants his cut too, but the anonymity of olden days helped build trust between individuals. Regulation should never be a substitute for trust and that is what we have today in the banking world. We (as customers/users) pay companies and banks for "trust" and in return we get secure transactions. In return for giving "trust," banks and companies get unprecedented access and control over its customer base.

ah, they have a proper taker/maker pricing system. no more ripping off both sides of a trade to increase income

I have been following this for months, if you look at the players and think about what and how they do things USAA Bank Citigroup ect ect and look at how Coinbase operates... you can pretty well kiss annonymity good bye if you use these services its a trade off and totally your decision.

Just the first step for centralization and "regulation" of Bitcoin, although not total regulation and centralization... YET.

Doubtful this will happen.  They won't even add Litecoin wallet support, and Coblee works for them.  Adding alts is not part of their current strategic roadmap.

Don't bother about BTCe now

The rockets on the moon and its making exciting noises!!!   How bizarre, there's a sell off going on? It's not as if everyone didn't already know what was going to happen....

Here comes the dump? 295 to 282 on BTC-e now

aaand registered

waiting for the mail, guess their mail-server just went boom

and Coinbase Exchange is not yet available outside the United States.

exchange.coinbase.com

the link started making noise lmao

Yes, but you need to back your arguments with data. 

Which is of course not true. Money is part of human behavior. Human wants are complex.

Dogecoin already has more users than all altcoins combined - it  already attracted different demographics that use the coin differently.  

While bitcoin is treated as a tool for speculation Dogecoin is actually used.

Don't believe me - just look at the data:  

https://bitcointalk.org/index.php?topic=800004.0;all

It's money. They do the same thing. This meme shit won't last.

Money is not a trend, a brand, a culture or a fad.

You cannot slap shiny painting on it, claim it "appeals" to some people and that it makes it relevant or worthy of existing.

All of you "shibes" are going to be very sorry when you're left holding this trendy bag of worthless coins.

 

    

Different brands, different cultures.

A choice of what, exactly?

If you have about 3 major coins it gives people a choice. I agree that having hundreds of coins is too much.

In the case of Dogecoin it attracts different demographics and has more users than all altcoins combined.

If you want to learn more about Dogecoin:

https://bitcointalk.org/index.php?topic=800004.0;all

 

alts should be traded for btc now and discontinued /
1 international currency is the ultimate goal and btc is where the big money and development  is
alts are just a distraction to new comers who will take long enough to get a basic understanding of btc without having 600 other shitcoins being pumped at the same time

Yes. I love Dogecoin, and I think it can bring a lot more users to crypto.

It is good to have a choice.

to the mars ........moon too near .....

Interesting. We shall see then. 

yup most likely, would also align with the leaked pics of doge and ltc on coinbase

Any opinion on this?

https://docs.exchange.coinbase.com/#currencies

Will they add alts?

Well, Coinbase announced their API. It's straightforward REST/JSON. There's a discussion on Hacker News. They're running on Amazon AWS, in the US East zone. They recommend that trading 'bots also run on AWS in that zone for reduced latency. Initially, there will be no fees, but later, fees will be imposed for transactions which "reduce liquidity" (i.e. are executed immediately). Putting up walls is free.

It looks like they're setting themselves up for high frequency trading. They may have huge volume, but it will be the same money going round and round. 

They claim to be "licensed" in at least New York and California, but they're not on the money transmitter lists for either state.

I think its about raising of BTC price

We are already in the universe derp derp  .

to the moon,

to the sun ,

to the andromeda,

to the universe!!

really nice

To da moon!

I recall a few space node threads a while back
Could also be related to Space-X for all we know thanks for the heads up
To the moon ^^

the price manipulation will get heavier than ever, and more professional. So will be even harder for amateurs without inside info trade and profit.

But if true, we have all the fuel to have a new rally

What are the 25 states, I wonder, and what the heck is the problem with the other 25?
My state (TX) is not on the list of USD wallet enabled yet. What gives?

What??? You can't do half the stuff on the coinbase that you can do on bitstamp. Tax is the last worry when you want stuff done on a real exchange which coinbase currently right now most definitely is NOT. It will be starting tomorrow, if WSJ is to be believed.

Absolutely. Also, trading on overseas exchanges incurs more taxes. That's one of the reasons why I went with coinbase instead of bitstamp.

Make no mistake about it, this is big fucking news.

Now many US wall street investors with very deep pockets have a legit way to invest in Bitcoin.

Most of the overseas exchanges are shady as hell, so hopefully we'll finally get true price discovery and all the past exchange manipulation and shenanigans will come to an end.

The small investors trying to manipulate prices to make a quick buck will get slaughtered once the big guys enter the market.

well done coinbase,

this benefits the bitcoin in mid-ong term

Great. COinbase seems to be one of the btter managed Bitcoin businesses.

http://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641

Lol, Maybe they will take us to the moon
It might be something to plant a Bitcoin flag on the moon. Definiteely a big achievement.

nice

This is probably the announcement:

http://www.wsj.com/articles/first-u-s-bitcoin-exchange-set-to-open-1422221641


By GREG BENSINGER
Jan. 25, 2015 4:34 p.m. ET
0 COMMENTS
The virtual currency bitcoin is getting a very real boost on Monday, with the opening of the first licensed U.S. exchange.

Coinbase Inc., a startup backed by $106 million from the New York Stock Exchange, banks and venture-capital firms, said its exchange will offer greater security for individuals and institutions to trade bitcoin and monitor real-time pricing of the cryptocurrency.

The exchange could bring needed legitimacy to the currency, which isn’t backed by a central government and is traded over virtual exchanges, primarily overseas. Coinbase said it has insurance, offering traders some assurance that their money won’t disappear.

Bitcoin enthusiasts have been buffeted by the collapse of Japan-based exchange Mt. Gox last year—taking with it around half a billion dollars of investors’ money—and a security breach earlier this month at Slovenia-based exchange Bitstamp. The value of a bitcoin itself, determined by trading on existing exchanges, has fallen to about $240, from a peak in late 2013 of more than $1,200.

“To have an organized exchange that has the backing of thoughtful venture capitalists and investors addresses one of the main problems with bitcoin: its extreme volatility,” said Campbell R. Harvey, a Duke University finance professor who has studied cryptocurrencies. “Bitcoin has been sorely in need of something like this.”

Coinbase’s founders say they have been working for five months to win licenses from state financial regulators. They have regulatory approval in half of U.S. states, including large population centers like New York and California. For now, Coinbase can do business with account holders only in states where it has approval.

Coinbase will take a small percentage—likely less than 1%—of most transactions, said Fred Ehrsam, 26 years old, a co-founder. The exchange will initially be limited to users in the U.S., but Chief Executive Brian Armstrong, 32, said he plans to expand overseas.

Mr. Armstrong said he expected to attract both individuals and businesses looking to trade bitcoin. “Our goal is to become the world’s largest exchange,” he said.

Others are looking to open U.S.-based bitcoin exchanges, including Tyler and Cameron Winklevoss, the twin brothers known for their early feuds with Facebook Inc. founder Mark Zuckerberg .

Financial regulators, including the U.S. Federal Reserve, have been scrutinizing bitcoin recently. Benjamin Lawsky , the superintendent of the New York State Department of Financial Services, is working on a so-called BitLicense for firms looking to offer digital-currency services in the state; Coinbase is operating under earlier regulations. Mr. Lawsky’s plan is seen as a template for legislation in other jurisdictions, and it may give outsiders more confidence in the currency.

Bitcoins are created using high-powered computers that “mine” for the currency by solving complex mathematical equations. They are exchanged digitally either for currency, or goods and services. Ownership and transactions are recorded, anonymously, in a so-called blockchain, which backers say reduces the risk of fraud.

Bitcoin grew to prominence in recent years in part because of the ease with which it can be transferred.

Coindesk, which tracks the price of bitcoins, says 82,000 businesses accept the currency, double that of a year earlier, including e-commerce site Overstock.com Inc. and Expedia Inc., as well as many small retailers. The value of all bitcoin is $3.2 billion, according to Coindesk’s price index.

The NYSE invested in Coinbase during a $75 million round of fundraising that closed this month. Other investors include USAA Bank, the venture arm of Spain’s Banco Bilbao Vizcaya Argentaria SA, former Citigroup Inc. CEO Vikram Pandit and former Thomson Reuters Corp. CEO Tom Glocer. Venture backers include Draper Fisher Jurvetson, Andreessen Horowitz and Union Square Ventures.

The NYSE’s investment was intended in part to “keep an eye on bitcoin as it matures as a legitimate currency,” President Tom Farley said. “Any currency relies on its acceptance.” The Coinbase exchange “is an important step for the currency to become socially acceptable.”

Coinbase counts about 2.2 million consumer wallets and nearly 40,000 merchants that use its services. The company has about 75 employees and plans to operate in 30 countries by year-end, up from 19 today.

this is on purpose very very far fetched, but trading in the NYSE using bitcoin through coinbase accounts? and/or listing of XBT/BTC as an option to invest in in the NYSE? Since the Winklewii etf/exchange is getting near they might want to offer an institutional "wall street" way to invest in bitcoin in advance "stealing" their hype, considering the large investment they just made in coinbase...

maybe it is a punch?

Monday, moon day?

And they will just to a half harmless update on site

With Dogecoin they will add a lot of new costumers - so it makes sense for them to add Dogecoin.

Hope they did.

if you look close the flag on the moon you'll see it's a BTC flag. I think "big crash" is coming

www.coinbase.com/assets/lunar/moon-e006355e797edb90fe4deb3ce760a711.png

Peercoin also went up significantly lately. From previous big BTC rallies it is known that LTC and PPC rally even greater. When Bitcoin rose 7x, LTC and PPC rallied ~15x. They obviously crashed much harder too. To me the fact that PPC and LTC are rallying shows that bottom is in (152$) and we are approaching the next big bitcoin rally.

See this thread: https://bitcointalksearch.org/topic/leak-coinbase-to-accept-litecoin-dogecoin-coinbasecomlunar-935430

With that image and a countdown to the announcement, it better be something big or coinbase is going to look like a bunch of idiots.
Since they are trying to present themselves as a responsible company, I am going with great news, continued uptrend, fuck yeah 
Or they could pull a fat guy on twitter move 

Jesus. I hope not. That pretty much runs counter to all of the original principles of bitcoin.

Either regarding their partnership with NYSE or something regarding SpaceX.

I suppose that's the buy signal we are wwaitingfor. Also just recently saw ltc price going up.  Does that in any way connected?

We already know about the partnership with Braintree/Paypal.

I guess it is a partnership with Braintree/Paypal. US Merchants using Braintree will accept bitcoin from coinbase accounts only.
Be prepared to a a new fall of bitcoin price. A good and normal fall while the network settles.

To the moon will be later omho. I am pretty confident. Bitcoin is huge now and cannot die. The question is not will bitcoin be mainstream...but when.

it's because the recent rise of bitcoin, i suppose

https://www.coinbase.com/lunar

 

Any ideas?