Bitcoin Startup Circle Secures $17M Venture Financing | Hacker News Reader

Bitcoin Startup Circle Secures $17M Venture Financing

bloomberg.com

36 pointsca98am7911 comments

if bitcoin is going to be successful, there's room for more than one major player in the merchant services space. i would agree that coinbase seems to have a big lead - they are operational - and have a clear path to success. circle more vague, perhaps the pitch is that they are more "seasoned" - although doing much the same thing.

i will admit, that when i wrote circle just now, i almost wrote "color". freudian slip perhaps. we'll see.

BitPay existed before Coinbase, so there are at least two players in the market now.

This is great news. They want to make digital currencies easier to use. We won't see big jumps until bitcoin gets past the crude stage that it's in now.

What dies this company even do? It looks like they're competing with Coinbase (and have raised more money than them!), but do they have any traction?

They haven't release a product yet.

So, no. They do not have any traction.

They haven't launched, but today they announced their products: http://dealbook.nytimes.com/2014/03/26/start-up-unveils-bitc...

I wish all these millions of investment dollar would go to a better version of BitCoin. BT is a major breakthru but it is still in an alpha stage. The main problem is that it is deflationary, to support a global economy it needs to slightly inflationary.

The Economics Of Bitcoin – Why Mainstream Economists Lie About Deflation: http://www.libertariannews.org/2011/06/11/the-economics-of-b...

I'm not convinced either way. The main problem I have with bitcoin's supply, which it shares with many alternatives, is that supply is decreasing exponentially over time, making early adopters rich. Then again you could say the same about people who invested in google before its IPO, or even soon after.

If someone figures out how to make it as easy as going online, entering your debit card number, and supplying a Bitcoin address to send to, I could see Bitcoin gaining momentum.

Announce you are a bitcoin startup - get millions in VC. Foolproof. Or proof there are always fools ready to hand out money for trendy things?

Don't you mean:

Sell your company for $360M. Join the new company as CTO, and sell for $3.4B. IPO your next company. Get millions in VC. Foolproof.

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