They will be correlated with BTC/USD
Coinbase announces proposed direct listing
11–20 of 222 posts
Re: Coinbase announces proposed direct listing
#12If there's one thing to take away from the GME debacle it is that organized, incentivized retail investors can make a stock do crazy things. Now take that and multiply it by a factorial with the general interest, shilling, and breadth of the crypto community! Recipe for INSANITY around this listing.
Good free markets should be free. No government bailouts no problem.
Re: Coinbase announces proposed direct listing
#13If there's one thing to take away from the GME debacle it is that organized, incentivized retail investors can make a stock do crazy things. Now take that and multiply it by a factorial with the general interest, shilling, and breadth of the crypto community! Recipe for INSANITY around this listing.
too bad you can't get that ticker symbol
Re: Coinbase announces proposed direct listing
#14They will be correlated with BTC/USD
Nope, I doubt it. It's much easier to sell shovels and still benefit whether the price goes up or down.
Re: Coinbase announces proposed direct listing
#15Why isn't Coinbase doing a security token offering?
Because there's already a lot of network effects built in to the existing exchanges and crypto infrastructure for trading securities is still immature, albeit promising.
Re: Coinbase announces proposed direct listing
#16Why isn't Coinbase doing a security token offering?
Real money for me, not for thee.
reducesuffering, thank you for making me chuckle.
In keeping with the grand theory that cryptocoins allow the rediscovery of financial regulations and procedures from first principles, the following could happen:
* Coinbase uses the funding to get to the point where they can release a "dual currency" set of stock. One set of stock based on being traditional shares purchased with USD, one set based on being a tied to a "share token" purchased with whatever people choose to exchange (but initially sold by Coinbase for bitcoin). Presumably they would have voting rights per share tied to the conversion between bitcoin to usd.
* The normal shares are regulated in the boring SEC way.
* The share tokens are regulated according to wild west tech rules. Tokens are stolen, token private keys are lost, exchanges rediscover circuit breakers on facilitating token trades, etc.
I think there is also a second story if Coinbase were to release share tokens: Many scamcoins are essentially a way to buy shares in some service that does not fully exist yet, but has great upside potential. If this super simplistic description sounds like investing in stocks, then watching Coinbase share tokens toe the line between "scam coin" and "real deal Wall St. asset" will be an interesting experience.
Re: Coinbase announces proposed direct listing
#17If there's one thing to take away from the GME debacle it is that organized, incentivized retail investors can make a stock do crazy things. Now take that and multiply it by a factorial with the general interest, shilling, and breadth of the crypto community! Recipe for INSANITY around this listing.
Good free markets should be free. No government bailouts no problem.
Then eventually things implode, society collapses, a dictator takes over after claiming they will help the starving masses and so on. Starving masses who have lost their life savings do not make for a good place to live even if you avoid being one of them. Society should be protected from the fallout of capitalism to a reasonable degree.
Re: Coinbase announces proposed direct listing
#18Earlier quoted context omitted.
Real money for me, not for thee.
reducesuffering, thank you for making me chuckle. In keeping with the grand theory that cryptocoins allow the rediscovery of financial regulations and procedures from first principles, the following could happen: * Coinbase uses the funding to get to the point where they can release a "dual currency" set of stock. One set of stock based on being traditional shares purchased with USD, one set based on being a tied to…
a way to buy shares in some service that does not fully exist yet, but has great upside potential
Time for a SPAC token offering!
Re: Coinbase announces proposed direct listing
#19If there's one thing to take away from the GME debacle it is that organized, incentivized retail investors can make a stock do crazy things. Now take that and multiply it by a factorial with the general interest, shilling, and breadth of the crypto community! Recipe for INSANITY around this listing.
Good free markets should be free. No government bailouts no problem.
Why?
Re: Coinbase announces proposed direct listing
#20Earlier quoted context omitted.
Good free markets should be free. No government bailouts no problem.
Then eventually things implode, society collapses, a dictator takes over after claiming they will help the starving masses and so on. Starving masses who have lost their life savings do not make for a good place to live even if you avoid being one of them. Society should be protected from the fallout of capitalism to a reasonable degree.
If you lost your life savings on GME, you deserve to starve
edit: the only way you could be losing your life savings on GME is with a dumb, arrogant short position. yes, you should starve...isn't this what a short sale is anyway? A bet that someone else will starve?