This Is Not Investment Advice

This Is Not Investment Advice

Will You Invest in Josh Weinstein’s Cloud?

Mr. Weinstein. (Twitter)

Last week, Tyler and Cameron Winklevoss of Facebook and HarvardConnection fame appeared on CNBC’s Squawk Box to talk about their new fund, Winklevoss Capital Partners. Like many investors, they’re interested in investing in the cloud. “We think the cloud is going to be huge, it already is,” Tyler said. It’s important to find a truly unique cloud startup because there are so many cloud startups already, Cameron added.

Here’s a prospective investment for the Winklevii: Josh Weinstein’s cloud. “Everyone is talking about clouds and how everyone wants to ‘invest in the cloud,'” Mr. Weinstein, founder of the flameout social network and now the CEO of YouAreTV, told Betabeat over the weekend. So he created, a cloud startup that accepts donations via a website with a picture of a cloud. He’s also submitted a campaign to Kickstarter and hopes to raise $20.  Read More

This Is Not Investment Advice

Rough Trades: Digital Derivatives Hit the Bitcoin Markets as Wall Street Bankers Take Interest


THE BEST WAY TO FIND serious traders of the digital currency Bitcoin is to log onto Internet Relay Chat—that bare-bones, plain-text experience that hasn’t changed much since its creation in 1988—around midnight, and jump into one of the many conversations dedicated to the phenomenon. Bitcoin, a decentralized payment system that approximates cash, has been quickly gaining popularity since May, when its bit part in a Gawker story about an “underground website where you can buy any drug imaginable” turned into a starring role in stories like Fast Company’s “Funny Money: Is Bitcoin the Future of Currency … Or a Total Scam?”

One indication of how far the currency has evolved: the emergence of Bitcoin derivatives. Despite reluctance by merchants to embrace the new money and a near-constant stream of crises, from cyberattacks to technical failures, the two-and-a-half-year-old technology—carefully designed by a group of anonymous programmers to serve as a standard for digital payments without the need for a central authority—seems to have staying power. This is especially true among its investors, who have graduated from simple transactions like buying and selling to negotiating options and futures contracts. Read More

This Is Not Investment Advice

Adventures in Bitcoin Buying


Okay. The fact is, I spent upwards of $30 on a round of whiskey and pickle juice shots Saturday. That money is gone forever. I decided to do something similar today: Buy Bitcoin! After a month of fascination, I think it’s time to see BTC from the other side, Planet Money-style. So I set about trying to figure out how to buy a Bitcoin. I quickly discovered that person-to-person cash transactions are a vastly superior method because it still takes days to shuffle money if there is a bank involved. Dwolla, the PayPal competitor that takes Bitcoin, takes a few days to a week to verify your bank account and transfer the money;, the newer Bitcoin exchange, takes one to three business days for a bank transfer and charges $10 a transaction to deposit funds from a U.S. bank. And if you place an order for BTC on an exchange, you have to wait for a seller to come along and accept it. Bitcoin is still rather volatile so by the time an order gets filled, drastic things could happen to the price or the currency–no good. Read More