This would only make sense if when you moved bitcoins into coinbase they immediately converted them to USD. In that case, sure they would need to have USD on hand to cover your funds.
In the case where you are storing the bitcoins with coinbase and not converting it they just need to make sure they have the bitcoins on hand. Forcing coinbase to both hold bitcoin and USD to cover the value of those bitcoins makes no sense.
> If Coinbase became a bank or a broker, they'd be subject to US Federal regulation and audits, but would no longer need state licenses. They're trying to sleaze by as a "money transmitter", while acting as a depository institution, and it's not working out for them.
I'm sure he took it with an iPhone 6 cause that's the phone he has but it also looks like higher than usual ISO probably due to bad lighting.
The bigger issue is think about how close you would have to hold the watch up to your face to make it that big in real life. If you did that you'd be able to see the pixels but you wouldn't hold it that close.
Now that it's in stores to try out (they have units on the table you can use the UI on in addition to the try on appointments) people should just go check it out for themselves.
I got the same sense from reading reviews, most seemed negative on it, like it was unfinished and not ready for primetime (wait till version 2 or 3 most would say).
I can tell you after going into the store and trying it out I left thinking it was a great product. The fit and finish is top notch and the UI is smooth and responsive. I couldn't test watch kit apps out so that might be an issue, but that'll be resolved once Apple releases a separate SDK for running on the watch which they said they would do later this year.
I'd say if you were previously worried by the reviews go check it out in person and you might be surprised.
It's kinda buried in all the announcements today but before this AWS Lambda could only be used for asynchronous calls. So if you were developing a mobile backend you could only process events asynchronously and had no way other than out of band push notifications to send data back to the client.
Now with Synchronous Invoke you can have a backend for a mobile app live fully on AWS Lambda. The benefit being you pay by the millisecond for compute time used vs having to keep EC2 nodes up and paying for underutilized instances.
I don't know the answer to this but given the user is the one who didn't complete the transaction in 10 minutes they are probably held responsible. I would guess if it was underpaid they would have to send more to the address (the same as if they only paid half the bill). If it's overpaid they probably send the overpaid amount back as a refund to the address it was sent from (or keep it).
It would be interesting to see if you could "lock in" a BTC price and then wait 9 minutes to see if BTC goes up or down (meaning you are over/under paying) then decide if you still want to buy. I'd think there would be protections against something like this though.
To put this in perspective here is some napkin calculations on how much power dogecoin currently uses:
Assuming an average kh/watt of 2.333 [1] and the total network hashrate of 68 GH/s [2] we can see the network uses about 30 Megawatts of electricity. As a comparison Microsoft uses 250 Megawatts to power for their datacenters [3]. So it is wasteful, yes, but who's to say it's any worse than running datacenters so I can play battlefield 4 with my friends on xbox live which also provides no benefit for charity.
Lost in the news that they accept bitcoin is the "Coming Soon" under Butterfly Labs hardware mentioned on that landing page. First I've heard of a mainstream electronics store selling ASIC mining hardware.
Nobody GPU mines for bitcoin anymore (ASICs killed that long ago). My 2 year old ATI card makes $4/day mining litecoin or even $8/day mining dogecoin. If you want bitcoin you simply send the alt currency to an exchange and trade for bitcoin.
In the case where you are storing the bitcoins with coinbase and not converting it they just need to make sure they have the bitcoins on hand. Forcing coinbase to both hold bitcoin and USD to cover the value of those bitcoins makes no sense.