{"id":374,"date":"2012-06-29T19:33:46","date_gmt":"2012-06-29T19:33:46","guid":{"rendered":"https:\/\/www.privateinternetaccess.com\/blog\/?p=374"},"modified":"2022-08-28T13:22:24","modified_gmt":"2022-08-28T20:22:24","slug":"paul-graham-endorses-bitcoin","status":"publish","type":"post","link":"https:\/\/www.privateinternetaccess.com\/blog\/paul-graham-endorses-bitcoin\/","title":{"rendered":"Paul Graham Endorses Bitcoin"},"content":{"rendered":"

\"Some<\/a>
Some rights reserved by pragdave (Flickr)<\/figcaption><\/figure>\n<\/p>

History is in the making. \u00a0Although this is not a major announcement pertaining to Bitcoin directly, today may be one of the most historic days in the life of the crypto currency. \u00a0Today, it was announced that YCombinator<\/a>, the biggest and most well known technology incubator, has funded a Bitcoin startup.<\/p>\n

What does this mean?<\/strong>
\nThis means that Paul Graham, who is one of the most respected and influential early stage investors in the industry, has just indirectly endorsed Bitcoin. \u00a0Like any startup investor, Paul Graham takes risks when he invests in startups. \u00a0However, with Bitcoin startups, there is a double risk as one bets on both Bitcoin as well as the startup itself, not to mention money transmitter licensing issues. \u00a0This means Paul Graham must consider Bitcoin legitimate enough that he is willing to take that risk.<\/p>\n

Paul Graham is currently the third major technology investor to show support for Bitcoin. The first was Fred Wilson<\/a>\u00a0of Union Square Ventures, and the second major investor was Tim Draper<\/a>.<\/p>\n

Furthermore, Bitcoin may now have the support of the YCombinator family and network which consists of hundreds of startups and investors. \u00a0This is the kind of support that could be crucial for Bitcoin to be adopted.<\/p>\n

The Startup<\/strong>
\nThe YCombinator funded Bitcoin startup, Coinbase<\/a>, aims to be the paypal of Bitcoin. \u00a0While other websites already exist that perform this role, one with the legitimacy and trust of YCombinator behind it may be just the thing Bitcoin needs to succeed.<\/p>\n

Bitcoins in the Open Market<\/strong>
\nWe at Private Internet Access love Bitcoin, because it allows our customers an extra level of privacy when buying VPN<\/a> service. \u00a0We have been seeing increasing Bitcoin sales in the past months and are watching it closely.<\/p>\n","protected":false},"excerpt":{"rendered":"

History is in the making. \u00a0Although this is not a major announcement pertaining to Bitcoin directly, today may be one of the most historic days in the life of the crypto currency. \u00a0Today, it was announced that YCombinator, the biggest and most well known technology incubator, has funded a Bitcoin startup. What does this mean? … Continue reading “Paul Graham Endorses Bitcoin”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_stopmodifiedupdate":true,"_modified_date":"","footnotes":""},"categories":[15,1],"tags":[19],"class_list":["post-374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","category-news","tag-bitcoin-2"],"yoast_head":"\nPaul Graham Endorses Bitcoin<\/title>\n<meta name=\"description\" content=\"History is in the making. \u00a0Although this is not a major announcement pertaining to Bitcoin directly, today may be one of the most historic days in the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.privateinternetaccess.com\/blog\/paul-graham-endorses-bitcoin\/\" \/>\n<meta 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