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Honestly, to all in long Bitcoin investors 5 million USD is practically chump change. Real talk. Simply put, it's pretty much assumed based on volumes and fee
by rasengan 12y ago
Honestly, to all in long Bitcoin investors 5 million USD is practically chump change.
Real talk.
Simply put, it's pretty much assumed based on volumes and fees that they make that much profit anyway, but there are also things such as recapitalization.
5 million is not a nail in a coffin for a Bitcoin exchange.
Lastly and honestly, if these assumptions are wrong then assuming Bitstamp wants to continue business it would be easy to raise the money on slightly less favorable terms given the distress/desperation (assuming the previous assumptions prove false).
- sillysaurus3 12y agoFive million dollars were lost. Unless you're speaking as a founder in the field, I'm finding this hard to believe. Five million dollars is about an entire Series A round. Or at least half of one. And a Series A round is supposed to last multiple years. Or at least a whole year. It's not chump change. And I've heard you're going to have no luck raising money at all if investors catch wind that you need it to survive. "Slightly less favorable terms" probably means the deal doesn't happen. See e.g. http://paulgraham.com/pinch.html http://paulgraham.com/pinch.html But I have no experience at that, so I admit I'm going off of hypotheticals and what other people say. EDIT: Also, that's five million dollars at current BTC prices. Bitcoin has only recently fallen to $300/coin. It was $600/coin not to long ago.
- rasengan 12y agoI am speaking with experience. :)