This is one of the most interesting Bitcoin-related videos I have ever watched, and I have watched plenty. Coinbase has been at the center of BTC news as of late after it became the recipient of the largest investment ever in the Bitcoin space when Andreessen Horowitz announced a $25 million capital infusion. I personally set up an account at Coinbase recently and have been very pleased with my experience so far. I feel even more comfortable having watched the founder Brian Armstrong speak in this video. Not only do I like the way his mind works, but I’m impressed that he has a background in both Computer Science and Economics.
The topics in this video are wide-ranging and it answered a lot of my own personal questions. The highlights for me were:
1) The fact that they keep about 95% of customer BTC offline in cold storage (not connected to the internet). They maintain 5% of customer funds in a hot-wallet used to handle normal day-to-day activity. It was also fun to hear the process of how they go about retrieving offline private keys in the case of outsized trading activity.
2) The potential change within the Bitcoin community to move from price quoting per BTC to mBTC (1/1000 of a bitcoin).
3) The fact that they are in discussions with very large merchants about accepting BTC. He thinks 2014 will be a huge year for merchant adoption (recall just yesterday the CEO of Overstock said they would begin accepting it in 2H14).
4) That the creator of Litecoin works for Coinbase.
These are just some of the topics discussed. An absolute must-watch for anyone interested in Bitcoin.
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Video of the Day: Interview with Coinbase Founder Brian Armstrong originally appeared on A Lightning War for Liberty on December 20, 2013.
from A Lightning War for Liberty http://libertyblitzkrieg.com/2013/12/20/video-of-the-day-interview-with-coinbase-founder-brian-armstrong/
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