Yet Another Bitcoin Startup Gets Funded: Blockchain (that's the name of the startup) Invested By Google and Richard Branson
It's hard to spend a single day without news about a new fantastic ICO, or round of investment in a crypto-related startup. While this reminds me strikingly of the "dot com bubble days" of early 2000s, I can't say some of them are not really worth it.
Today we're talking about Blockchain.info, one of the most popular Bitcoin wallets, which, according to this article, got a huge sum of money. What's interesting in this funding is not the company or what it does (to many of you reading, this may sound trivial, yet another Bitcoin wallet) but rather the composition of the investment round. And, obviously, its size: $40 million dollars. Among the investors: Google and Richard Branson. These are powerful names when it comes to heavy money and they are certainly giving some weight to the entire crypto scene. It's not just some shady, money laundering scheme, as many politicians prefer to paint it, but it's something that even Google and Richard Branson invest in.
I was quite surprised to see that their website was very quickly updated with the news, showing the grand total of their investment so far: $70 millions.
But at this level you'd think they afford to hire somebody to just update the site.
Or, if they don't have money for a single person, maybe an entire agency.
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Crypto these days:
And this is where mergers and acquisitions gets it start. The domino effect will soon start as major online, e-commerce sites recognize the earning potential when allowing digital currency to be used in the digital world.
Yeap, that could be a strong signal.
With the potential acquisition of Whole Foods by Amazon and now Wal-Mart making a play to up the ante a bit, these are very interesting times. Since the economy is still in a recovery mode, retailers are having to change their business practices. Not only how these companies advertise but how they are able to retain their current client base. Part of that is making the experience as convenient as possible. Digital currency definitely makes a very strong argument for it's self.
Seen it on the news founders with David Cameron - why is he involved? Nothing against him just seems strange a politician to be involved
No idea. But a politician that gets blockchain every once in a while can't be bad. Or is it?....
Yeah, upon reflection if i had a company and wanted investment having such a famous person endorsing it might be wise choice for reassurance/confidence.
Great post. Check out my profile if you have time :)
seriously I dont understand on how the crypto currencies are getting so heated up... I mean they are less usable outside the Internet, yet are more valuable than US Dollar? US Dollar is backed by Gold... US has exports and products. What Crypto Currencies have? now one has even surpassed the price of Gold........... I think something is cooking or it is heading or a fall :(
The US Dollar is NOT backed by gold, that ended in 1971.
Money has no intrinsic value, it's fiduciary, meaning it will always worth what people agree for it to worth. Being backed by gold doesn't mean it's intrinsically and eternally, indestructibly valuable, it simply means that people agreed to back it up with gold.
What's happening with the crypto is that faith and trust are moving from old ways of thinking about money towards this new way of storing and transferring value, simply because it's better than the old one. Just for exemplification, crypto currencies don't have the "middle man" problem, like a bank which can freeze your account whenever it wants. There are many other advantages, that's just one, probably in top 3.
Yes I also agree to your point.
Thankyou
That's 'cos there's no central authority in Bitcoin. The money that you use is just made up by banks as a business model to make a profit of course. But when they're in trouble, they don't do anything to give it all back or they didn't make enough measures to ensure the safety and security of the "money" of the people. That's not how it should work. On the other hand, there's no one to blame in Bitcoin. Blockchain, just like internet is an equalizer. We must continue to support and innovate on these things to make the world a better place even if it's only one step at a time.
Every coin has its own story. Only time can answer.....
Drats. I was just going to write about this... you beat me to the punch! :)
Nothing like some heavy hitters to come in an shake things up.