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Coinbase doesn't seem all that doomed to me. Neither does Polychain Capital, the cryptoasset hedge fund backed by Andreesen Horowitz and Union Square Ventures.
by mbrock 9y ago
Coinbase doesn't seem all that doomed to me.
Neither does Polychain Capital, the cryptoasset hedge fund backed by Andreesen Horowitz and Union Square Ventures.
- Svekax 9y agoCoinbase is a broker. They make money by charging a fee when you convert between currencies. Their customers purchase Bitcoin and then transfer the funds into a Bitcoin address that they generated locally. Polychain Capital is a hedge fund that only accepts investments greater than $500k from investors wealthy enough to manage the risk. If op had something like this in mind, he wouldn't be gauging the interest of random people on HN. Still, I believe they're too tempting a target and it's only a matter of time before their holdings are stolen.
- tradersam 9y agoHey guess what! Coinbase is insured.[0][1] [0]:https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured- https://support.coinbase.com/customer/portal/articles/166237... [1]:https://www.coinbase.com/legal/insurance https://www.coinbase.com/legal/insurance
- runeks 9y agoSo was BitPay: http://www.coindesk.com/bitpay-sues-insurer-after-losing-1-8-million-in-phishing-attack/ http://www.coindesk.com/bitpay-sues-insurer-after-losing-1-8...