11 ms·

PG invested in Coinbase (YC) http://howdoyoubuybitcoins.com/from/coinbase/ http://howdoyoubuybitcoins.com/from/coinbase/ I would love to know how many bitcoin

• pg 14y ago
  None. But I'm very conservative.
  • nym 14y ago
    Thanks for sharing!
  • reaclmbs 14y ago
    Wouldn't a conservative hedge?
    • ajross 14y ago
      Hedge vs. what? The collapse of the entire world financial system and its replacement by .... bitcoin? To be serious: obviously bitcoin can be used as in any investment strategy, including "conservative" ones. You seem to be arguing that a bitcoin position must be part of one, which is kinda insane.
      • reaclmbs 14y ago
        I think you're being rude. I am referring to the collapse of financial systems, but not necessarily the replacement by bitcoin. Maybe precious metals, heirloom seeds, or guns?
      • javert 14y ago
        Hedge vs. loss of value in major world fiat currencies. I think this is actually an important problem, and Bitcoin is a nice alternative to gold.
    • joezydeco 14y ago
      Why buy chips when you can own the Casino (Coinbase)?
      • tlrobinson 14y ago
        I see it the other way around. For Coinbase to succeed, Bitcoin necessarily needs to succeed. If Bitcoin succeeds the price of Bitcoin will increase by many orders of magnitude. Right now I'd put Bitcoin's odds of success on par with an early stage startup.
        • joezydeco 14y ago
          The analogy was in reference to pg's investment in Coinbase while holding no Bitcoins themselves. If Bitcoin succeeds, would you rather have owned the coins... or the banks and exchanges that constantly take a percentage of the flow?
          • tlrobinson 14y ago
            I'm saying it's quite possible the coins themselves would be a better investment at this point. Casino chips aren't going to significantly increase in value. If Bitcoin succeeds then Bitcoins will. If Bitcoin doesn't succeed, then neither will the "banks".
            • joezydeco 14y ago
              But building a decent and trusted infrastructure of "banks" will improve Bitcoin's chances of success. Just holding a given quantity of coins on your laptop will not.
              • tlrobinson 14y ago
                Oh I agree completely. If you have a significant amount of Bitcoin you should do everything you can to make Bitcoin a sucess.
  • igorsyl 14y ago
    I always tell financially conservative people they can buy US$1 worth of Bitcoins just so they can learn how it works. I think many newcomers believe Bitcoins are indivisible.
    • zacksjoden 14y ago
      I've been reading off and on about Bitcoins on HN for a while and had no idea that they could be broken down into smaller units. From Wikipedia: "In trade, one bitcoin is subdivided into 100-million smaller units called satoshis, defined by eight decimal places.[4]"
      • wmf 14y ago
        I think this partly stems from the term "Bitcoin" itself, since coins are not divisible (having moved beyond pieces of eight long ago). But there are no coins in Bitcoin! It's all just txouts and txins.
        • vbuterin 14y ago
          You can think of it as a magically valuable liquid flowing down a system of ever-growing pipes representing the blockchain where the transactions are linking points and txins and txouts are pipes with their cross-section areas corresponding to their respective values. Once you think about it, the analogy fits perfectly.
        • patrikr 14y ago
          "Coin" in the Bitcoin system is a nickname for a transaction output. The value of a coin can be anything, 1 BTC, 0.000345 BTC, 500,000 BTC...
    • PanMan 14y ago
      oke, sounds like a plan. What's the easiest place to buy 1/50th bitcoin? I created a Coinbase account, but that seems US only :(
      • 14y ago
  • deleted 14y ago
    [deleted]
  • benajnim 14y ago
    You are a venture capitalist, yes? ;^)
  • elux 14y ago
    Do you want some? I could give you one.
  • jacoblyles 14y ago
    Post your BTC address and I'm sure someone will throw a bitcent or two your way. edit: mine is 1BFzpDHT69SrwLXndVogGgoSf5W4A8TMVS if you want to share the love :)
    • Yahivin 14y ago
      Anyone got any bit-pennies for a newb? 16524z1k5Xk8BsEVcSo1ZXLvank4ukUVdE I think Bitcoin or currencies like it will be important in the future so I'm trying to figure it out.
      • jacoblyles 14y ago
        2 internets for you sir (0.02 BTC)
    • brezina 14y ago
      sweet! hook a brother up 13d1B83HJZqgwwDUmVDB8dTtmgkp7BK62Q
      • jacoblyles 14y ago
        an internet for you sir! (0.01BTC)
        • brezina 14y ago
          gracias amigo
    • loginatnine 14y ago
      Any internet left? :) 1LPjVfUFtwqy1DToVogtT2Fob3du4qXSa5
      • jacoblyles 14y ago
        1.1 internets for you sir! Don't spend it all on Satoshi Dice :)