5 ms·

Coinbase and Google Cloud

32 points by kelthuzad 4y ago

kordlessagain 4y ago
Finally, a killer use case.
- bfung 4y ago
  For google cloud.
  - Andys 4y ago
    Is it enough to prevent another Incredible Journey?
- o_m 4y ago
  Sounds insecure. Will Google be forced to kick you out if I sent tornado cash to their pretending to pay your bill?
dopidopHN 4y ago
For the web3 ecosystem to be workable you need to wrap it within two large corporations?
- throw1234651234 4y ago
  This. Also this seems like a whole bunch of nothing. Coinbase isn't significant GCP revenue. Google partnering with Coinbase is just good trading news that don't really benefit Coinbase all that much.
cavisne 4y ago
“ developers to instantly and reliably operate Web3-based systems without the need for expensive and complex infrastructure. ” Ie without worrying about any of that pesky decentralization!
reducesuffering 4y ago
Coinbase is a centralized company, using centralized cloud compute, IPO'ing in $USD on the Nasdaq, boasting about crypto and decentralization. I wonder how many "true believers" are actually there and not just working for a paycheck...
- escaper 4y ago
  It's honestly stunning things like this are still being announced.
danpalmer 4y ago
Tldr? * Customers can pay for Google Cloud in crypto * Google will use Coinbase to manage (and sell?) those funds * Google has some blockchain data in BigQuery that developers can read. * Coinbase will use Google Cloud as a customer I work for google, no internal info here, only my personal opinion. As a cryptocurrency skeptic, this sounds like a win for Google Cloud with a new customer… and not much else?
- kylecordes 4y ago
  I would be concerned to pay Google in this way. There are a lot of discussions including on this site about how Google's AI bot is prone to banning accounts, and then it is difficult or impossible to reach a knowledgeable and empowered human support agent to get unbanned. It seems like that bot would automatically add some level of suspicion to an account that is paying in crypto.
SilverBirch 4y ago
Wow, this is really good news for Coinbase. And I mean that, because I'm utterly convinced Coinbase is going to 0. In the second quarter they had $800m revenue, and made a loss of $1Bn. The only good news is they had $5.6Bn in cash. All their financial statements are like "We all know crypto is cyclical blah blah blah" as if the macro situation today is the same as the macro situation in 2018. The company is just way too fat compared to its competitors, it moves too slow, and it'll run out of money before crypto comes back - if it ever does. On the flip side though, Web3? Hey guys, come over here and use Coinbase and Google for your decentralized project. I don't understand who thinks "Web3" and decides "let's outsource key parts of our infrastructure to Google". All-in-all, a very strong signal for Coinbase, once it drops around the $5-10Bn market cap it makes a very interesting acquisition target for Google.
yao420 4y ago
When I was at Coinbase we used AWS exclusively.

32 points by kelthuzad 4y ago

kordlessagain 4y ago

Finally, a killer use case.

bfung 4y ago
For google cloud.
- Andys 4y ago
  Is it enough to prevent another Incredible Journey?
o_m 4y ago
Sounds insecure. Will Google be forced to kick you out if I sent tornado cash to their pretending to pay your bill?

dopidopHN 4y ago

For the web3 ecosystem to be workable you need to wrap it within two large corporations?

throw1234651234 4y ago
This. Also this seems like a whole bunch of nothing. Coinbase isn't significant GCP revenue. Google partnering with Coinbase is just good trading news that don't really benefit Coinbase all that much.

cavisne 4y ago

“ developers to instantly and reliably operate Web3-based systems without the need for expensive and complex infrastructure. ” Ie without worrying about any of that pesky decentralization!

reducesuffering 4y ago

Coinbase is a centralized company, using centralized cloud compute, IPO'ing in $USD on the Nasdaq, boasting about crypto and decentralization. I wonder how many "true believers" are actually there and not just working for a paycheck...

escaper 4y ago
It's honestly stunning things like this are still being announced.

danpalmer 4y ago

Tldr? * Customers can pay for Google Cloud in crypto * Google will use Coinbase to manage (and sell?) those funds * Google has some blockchain data in BigQuery that developers can read. * Coinbase will use Google Cloud as a customer I work for google, no internal info here, only my personal opinion. As a cryptocurrency skeptic, this sounds like a win for Google Cloud with a new customer… and not much else?

kylecordes 4y ago
I would be concerned to pay Google in this way. There are a lot of discussions including on this site about how Google's AI bot is prone to banning accounts, and then it is difficult or impossible to reach a knowledgeable and empowered human support agent to get unbanned. It seems like that bot would automatically add some level of suspicion to an account that is paying in crypto.

SilverBirch 4y ago

Wow, this is really good news for Coinbase. And I mean that, because I'm utterly convinced Coinbase is going to 0. In the second quarter they had $800m revenue, and made a loss of $1Bn. The only good news is they had $5.6Bn in cash. All their financial statements are like "We all know crypto is cyclical blah blah blah" as if the macro situation today is the same as the macro situation in 2018. The company is just way too fat compared to its competitors, it moves too slow, and it'll run out of money before crypto comes back - if it ever does. On the flip side though, Web3? Hey guys, come over here and use Coinbase and Google for your decentralized project. I don't understand who thinks "Web3" and decides "let's outsource key parts of our infrastructure to Google". All-in-all, a very strong signal for Coinbase, once it drops around the $5-10Bn market cap it makes a very interesting acquisition target for Google.

yao420 4y ago

When I was at Coinbase we used AWS exclusively.