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400 million of venture capital has flown into Bitcoin startups in 2014. This money is used to improve Bitcoin and to build new services on top. It's not over un

by Hermel 12y ago

400 million of venture capital has flown into Bitcoin startups in 2014. This money is used to improve Bitcoin and to build new services on top. It's not over until we have seen what comes out of that.

sanswork 12y ago
Square alone has raised more 50% more than that. VC money in an industry doesn't guarantee success. Look at the services built too. Mining companies and exchanges. Tell me how those are going to draw in new users?
- Hermel 12y ago
  > Look at the services built too. Mining companies and exchanges. Not really. Often, it is merchant solutions like BitPay or consumer services like Blockchain.info or Xapo that are funded. Most interesting in my opinion is blockstream. Mining tends to be privately funded outside the VC-ecosystem.
  - sanswork 12y ago
    Bitpay is basically just a one way exchange that handles the trading for you. It is no different to end users except in the amount of work required. Xapo is a huge flop and accounts for 1/10th of that 400m. Bitfury accounts for another 1/10th. Blockchain raised a silly amount of money for a platform that most people in the community have lost faith in due to repeated security failings.
    - FatalLogic 12y ago
      >Blockchain.info ... a platform that most people in the community have lost faith in That's a remarkably bold claim. Citation definitely needed. You will need to define the "community", and then provide a source for "most". I don't see how you can possibly do that, since both data points are lost in the murky fog that is the world of Bitcoin
      - sanswork 12y ago
        "community" /r/bitcoin|/r/bitcoinmarkets|bct "source" the few weeks a month or so back where every second post was about how evil or bad or stupid blockchain.info was and no one should use them anymore. It was around the time the problem was discovered with their keygen and when someone was regularly sweeping coins from wallets on the service.
        FatalLogic 12y ago
        You're right to put "source" in quotes, because that's embarrassingly weak. You haven't even counted them. You're providing no real data. There's no way that it justifies your stark claim that "most people in the community have lost faith in Blockchain.info". Why do you feel the need to enhance your argument with exaggeration and unsupported assertions?
        sanswork 12y ago
        I didn't realize my statement would confuse someone into thinking it was the result of a scientifically accurate survey and not just an observation of sentiment. I apologize for the confusion.
        FatalLogic 12y ago
        Thanks, I appreciate the apology! Almost 10% of the comments in this thread are by you, and they're filled with numerous bold claims of fact. Are all those statements "observations of sentiment", too, or was it only this one?
        sanswork 12y ago
        >Are all those statements "observations of sentiment", too, or was it only this one? If I use exact numbers they tend to be facts I can source you. If I use vague terms it is because I don't have the numbers or it is a sentiment claim. I've had a look through my comments here and don't really see too many bold claims at all. Do you have any specific ones you want an answer for?
- chii 12y ago
  None of those are going to draw in users - i think the "killer app" for bitcoin is still yet to be found. I went to a bitcoin meetup/talk recently, and what i m hearing is that bitcoin's direction is more heading towards what might be called 'smart' money, such as a more trustworthy escrow, contracts, etc.
curiously 12y ago
likely that money will never be recouped. people throw at money at anything.
sz4kerto 12y ago
That's actually a quite tragic number considering that the Bitcoin market cap is around 2.5B, if the other poster in the thread is right. It is a serious disparity at the moment.

by Hermel 12y ago

sanswork 12y ago

Square alone has raised more 50% more than that. VC money in an industry doesn't guarantee success. Look at the services built too. Mining companies and exchanges. Tell me how those are going to draw in new users?

Hermel 12y ago
> Look at the services built too. Mining companies and exchanges. Not really. Often, it is merchant solutions like BitPay or consumer services like Blockchain.info or Xapo that are funded. Most interesting in my opinion is blockstream. Mining tends to be privately funded outside the VC-ecosystem.
- sanswork 12y ago
  Bitpay is basically just a one way exchange that handles the trading for you. It is no different to end users except in the amount of work required. Xapo is a huge flop and accounts for 1/10th of that 400m. Bitfury accounts for another 1/10th. Blockchain raised a silly amount of money for a platform that most people in the community have lost faith in due to repeated security failings.
  - FatalLogic 12y ago
    >Blockchain.info ... a platform that most people in the community have lost faith in That's a remarkably bold claim. Citation definitely needed. You will need to define the "community", and then provide a source for "most". I don't see how you can possibly do that, since both data points are lost in the murky fog that is the world of Bitcoin
    - sanswork 12y ago
      "community" /r/bitcoin|/r/bitcoinmarkets|bct "source" the few weeks a month or so back where every second post was about how evil or bad or stupid blockchain.info was and no one should use them anymore. It was around the time the problem was discovered with their keygen and when someone was regularly sweeping coins from wallets on the service.
      - FatalLogic 12y ago
        You're right to put "source" in quotes, because that's embarrassingly weak. You haven't even counted them. You're providing no real data. There's no way that it justifies your stark claim that "most people in the community have lost faith in Blockchain.info". Why do you feel the need to enhance your argument with exaggeration and unsupported assertions?
        sanswork 12y ago
        I didn't realize my statement would confuse someone into thinking it was the result of a scientifically accurate survey and not just an observation of sentiment. I apologize for the confusion.
        FatalLogic 12y ago
        Thanks, I appreciate the apology! Almost 10% of the comments in this thread are by you, and they're filled with numerous bold claims of fact. Are all those statements "observations of sentiment", too, or was it only this one?
        sanswork 12y ago
        >Are all those statements "observations of sentiment", too, or was it only this one? If I use exact numbers they tend to be facts I can source you. If I use vague terms it is because I don't have the numbers or it is a sentiment claim. I've had a look through my comments here and don't really see too many bold claims at all. Do you have any specific ones you want an answer for?
chii 12y ago
None of those are going to draw in users - i think the "killer app" for bitcoin is still yet to be found. I went to a bitcoin meetup/talk recently, and what i m hearing is that bitcoin's direction is more heading towards what might be called 'smart' money, such as a more trustworthy escrow, contracts, etc.

curiously 12y ago

likely that money will never be recouped. people throw at money at anything.

sz4kerto 12y ago

That's actually a quite tragic number considering that the Bitcoin market cap is around 2.5B, if the other poster in the thread is right. It is a serious disparity at the moment.