

Venture Capital Bets Big on Bitcoin - hepha1979
http://dealbook.nytimes.com/2013/12/12/venture-capital-bets-big-on-bitcoin/

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Aqwis
I wonder if any European venture caps will make a similar investment in
Bitstamp. Bitstamp is not only the most mature European exchange, but unlike
Coinbase (which can only transfer money to and from American bank accounts)
people can use Bitstamp worldwide.

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mlyang
This isn't so much a bet on bitcoin as it is a bet on virtual currency. If
another currency trumps bitcoin, Coinbase will become the wallet for that. So
as a VC, if you buy the digital currency story, this seems like an intuitive
investment.

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nossim
virtual currency ? money as we know it is already a virtual currency made by
institution you can sue. Bitcoin is a virtual currency made by a virtual
institution no one knows. The only reason you'd like to switch for a new
currency is because it is a more trustworthy currency i.e one that reflect
more the real economy not one based on some crypto algorithm

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laichzeit0
As I understand it, Bitcoin is money, digital money to be exact and it has a
payment system, which is the means by which it _may_ become or used as a
currency. To say it's a currency at the moment is a bit of a stretch. It's
might be an extremely small and niche currency. I think it's important to make
this distinction between money and currency.

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Kiro
So why doesn't this news produce a spike in the price?

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drawkbox
Just like any other market when you read about it in the news, it has already
been factored/baked into the price most likely.

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melvinmt
Don't present this as a fact please. EM hypothesis is still a hypothesis.

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dllthomas
I don't think it relies on any strong version of EM, just about comparative
speeds of different information channels. The market's reaction could be
wrong, but anyone likely to make big moves likely knew before you.

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nossim
Next stage Moody and the like will grant an "AAA" on everything related to
bitcoin and the final stage is a worldwide financial disaster.

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oleganza
For one thing, blockchain will never need any bailout, unlike many other
ledgers out there.

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brandoncapecci
What is expected to happen when the money supply becomes fixed?

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oleganza
It's already fixed. All the future coins are accounted for in current business
calculations.

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genericacct
VC also bet big on pets.com for that matter.....

