Remix clone Hacker News

new | show | ask | jobs Github

▲

KnuthIsGod 14 hours ago

Sounds like a camouflaged IQ test for the founders...

Or perhaps Y Combinator is great at funding startups, but incredibly bad with financial decision making.

In which case it is an IQ test for Y Combinator, which they have failed.

▲

j2kun 13 hours ago | parent | next [-]

As with all things cryptocurrency, the goal is to bypass financial regulations and external scrutiny.

▲

groundzeros2015 12 hours ago | parent [-]

By putting it on a realtime auditable database available to the public?

	▲	AmbroseBierce 6 hours ago \| parent \| next [-]
		A small amount of plausible deniability while they can move to pocket someone in congress and elsewhere to make it fully legal.
	▲	rglover 10 hours ago \| parent \| prev [-]
		"Ask for forgiveness, not permission."

▲

transitorykris 11 hours ago | parent | prev | next [-]

This isn't meant to be cynical. But, two of YC's success stories, Stripe and Coinbase, has a stable coin product.

▲

wmf 11 hours ago | parent | next [-]

Stablecoins have their uses. I'm not saying never touch crypto. But the question is what is the point of stablecoins in VC funding specifically? People don't seem to have good answers.

▲

rtpg 11 hours ago | parent | prev | next [-]

YC companies are constantly spending the money they get from YC right? Why get money, then put it in some stablecoin, only to then immediately cash out on salaries or whatever?

How does that make any sense to the company? Who's out here wanting their salary in stablecoin? And who among those want that and can't receive dollars and then turn them into stablecoin?

There's a sliver of talent that won't have access to the US banking system, but I can't imagine that making it worth putting up with risk + txn costs of stablecoins for the whole company.

▲

chasebank 9 hours ago | parent | prev [-]

Two of the fastest growing YC companies are crypto companies built on solana, Kalshi and Axiom. I'm pretty sure Axiom was the fastest to $100m in revenue, ever.

	▲	mplewis 9 hours ago \| parent [-]
		Making money doesn't make your thing not a scam.

▲

TacticalCoder 13 hours ago | parent | prev | next [-]

One of the biggest YC success story is Coinbase. It has literally got "coin" in its name.

It also trades under the ticker "COIN": https://finance.yahoo.com/quote/COIN/

And after a serious beating it's still value at $48 billion.

Put it another way: of all the companies YC funded, both those who succeeded and the countless who failed, only two companies, AirBnB and Doordash, are valued more than Coinbase.

I don't think YC hates cryptocurrencies as much as the typical commenter on HN.

▲

PlatoIsADisease 11 hours ago | parent | prev [-]

If you rejected economic orthodoxy and bought Bitcoin/Gold over the last.... decade or so... you won over the economic orthodox believers.

I don't really care about short term gold gambling with ~1-2 year market spans or altcoins if you want to disagree.

The biggest threat to bitcoin and gold is something breaking their scarcity. Gold, nuclear chemistry. Bitcoin... quantum computing or something(ignoring rollback).

	▲	IsTom 37 minutes ago \| parent [-]
		Bitcoin is completely removed from fundamentals and if there's a major sentiment shift it will be race to the bottom to sell first or lose more money.