Coinbase

Discussion

"company founded by Brian Armstrong, who is part of the current class of start-ups being incubated at Y Combinator. Armstrong has three months to get his company off the ground, at which point he will have the opportunity to pitch a roomful of investors on why Coinbase is worth putting even more money into. So far, he has raised $164,000.

“YC’s investment is a signal that legit investors are taking Bitcoin seriously, and I think it has a real chance of disrupting the payments industry,” he said.

The idea behind Coinbase is to make it a lot easier for less technical users to exchange coins.

It’s a bit like PayPal, where you can send and receive money using an email address, which is connected directly to your bank account. Armstrong also plans on making it easy for the functionality to be integrated into a shopping cart, or “buy” buttons on the Internet. He said merchants will be willing to adopt it, because it will reduce transaction fees." (http://allthingsd.com/20120629/betting-on-bitcoin-coinbase-wants-to-be-the-paypal-of-the-internet-only-currency/)