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Coinbase announces proposed direct listing

blog.coinbase.com

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Re: Coinbase announces proposed direct listing

#141

Post by martin1975 »

xiphias2 wrote: post #135
martin1975 wrote: post #128

Earlier quoted context omitted.

Who controls your money after you withdraw it from a traditional bank?

Traditional banks have lots restrictions _when_ you want to withdraw cash. Try moving more than $10000 between borders of countries that are not friendly with eachother, and you'll find those restrictions. You can travel with a hundred million dollars of BTC in your head (or a hardware wallet) and meet up random people if you want to buy something with it. As an example Michael Saylor could change aegentin peso to US…

Got it. You didn't clarify in your OP. The only issue w/BTC is its volatility, usability and its (in)ability to liquidate it as widely as other currencies... other than that, it's great ;)

Re: Coinbase announces proposed direct listing

#142

Post by meowster »

qixxiq wrote: post #134
jonplackett wrote: post #115

My shower thought the other day: How much money would Coinbase have, if instead of building the company they had just bought Bitcoin back in 2012 with their seed money? I think it had dropped to about $7.50 around then.

Would bitcoin be where it is today without Coinbase? Not to say it's impossible, but their work and approach definitely helped bring Bitcoin to the masses.

Same reason why the 10,000 BTC pizza was necessary. If no one ever bought anything with Bitcoin, Bitcoin would remain worthless.

Re: Coinbase announces proposed direct listing

#143

Post by solveit »

kortilla wrote: post #140
bluedevil2k wrote: post #112

Earlier quoted context omitted.

Not entirely true - since people had to enter a single point on their demand curve as a price and quantity of shares (instead of their entire demand curve) the market clearing price was artificially low. Hence the price pop on day one. To think about it more in depth - assume I enter a bid of 100 shares at $100. If the market clearing price is $50, I’ll be awarded 100 shares at $50. However, I was willing to buy far…

But the point is that everyone with a bid >=$50 got filled.

If I am willing to buy 100 shares at $100, I may be willing to buy 300 shares at $60. So just because my bid got filled doesn't mean I won't be buying more.

Re: Coinbase announces proposed direct listing

#144

Post by xur17 »

funkisjazz wrote: post #127
opreturn wrote: post #122

Earlier quoted context omitted.

> Heck, my visa card pays me 0.3% nowadays. Does your visa pay the merchants too? If banks/cards are are still charging merchants 2-3%, then some of that is passed on to us users as well (just not explicitly)

That is true, and you are right on this front. That being said, I do have a business accepting card payments and the 2-3% for me is closer to 0.1% past bank fees. But you're right that from the merchant's perspective, depending on country (e.g. the US) things can be worst. Then again, from the merchant's perspective cryptos seem to have much larger downsides, after all there's a reason why they aren't widely used, an…

> That being said, I do have a business accepting card payments and the 2-3% for me is closer to 0.1% past bank fees.

Are you saying that you only pay 0.1% in fees for accepting credit cards? Is this in the US? If so, please tell me whom because that's an insanely good deal, and they are surely losing money.

Some other pieces you aren't including - credit cards are prone to fraud. Despite paying 2-3% in fees to banks, merchants have to build systems to limit this, and pay to refund any fraudulent charges. Crypto allows for a basically instant settlement that looks very much like a cash transaction.

Re: Coinbase announces proposed direct listing

#145

Post by mancerayder »

ttobbaybbob wrote: post #121
mancerayder wrote: post #108

The AirBNB listing showed that banks favor their friends and clients in an IPO, when the price surged well before the debut allowed us Little People to buy. A direct listing would be cool and I hope they pursue that.

Alternatively - Airbnb selected investors that they knew would hold the stock and support their long-term vision for the product/brand. Those investors being inclined to hold, did not sell, yielding a relatively small float that was massively outstripped by demand, causing the price to skyrocket. Maybe some of those investors were friends of the bankers and cashed out but that would only be (a small) part of the stor…

Right. The selected investors that doubled the stock price before opening bell on day 1.

Re: Coinbase announces proposed direct listing

#146

Post by jacobkranz »

throwaway803453 wrote: post #92
svachalek wrote: post #76

Earlier quoted context omitted.

I think generally you can place an order before the market opens, maybe even the day before, but that doesn't really give you any pricing power. It will still pop at the open and your order may not clear until it does. But that may still put you ahead of the Robinhood masses. Better option might be to try a pre-IPO trading platform like EquityZen.

From EquitZen's knowledge center: "Shares that are the subject of investment through EquityZen are generally subject to a lock-up period of up to 180 days after the effectiveness of a company's IPO filing, during which time shareholders are restricted from selling their shares."[1] The 180day lock-up period could EquityZen poorly suited for investors with a short time horizon.

Could you do what Mark Cuban did and work with your brokerage to do sell calls & buy puts around the strike? That would lock in your price for a given amount of time.

Re: Coinbase announces proposed direct listing

#147

Post by slickrick216 »

gogopuppygogo wrote: post #123
slickrick216 wrote: post #114

Earlier quoted context omitted.

Yup but coinbase and binance regularly stop trading to stop pumps in the crypto market. The thing is in crypto there’s DEXs and DEFI. Coinbase and binance are doomed long term. If you haven’t look into uniswap and 1inch.

Coinbase is the future of finance. Monero (and other privacy coins) are the future of DeFi.

Coinbases only future is irrelevance then acquisition.

Re: Coinbase announces proposed direct listing

#148

Post by bravoetch »

jonplackett wrote: post #115

My shower thought the other day: How much money would Coinbase have, if instead of building the company they had just bought Bitcoin back in 2012 with their seed money? I think it had dropped to about $7.50 around then.

There were people and companies that bought massive amounts of bitcoin. Winklevoss twins weren't even early and they own 1% of all bitcoin.

Re: Coinbase announces proposed direct listing

#149

Post by slickrick216 »

nelsonmandela wrote: post #119
slickrick216 wrote: post #114

Earlier quoted context omitted.

Yup but coinbase and binance regularly stop trading to stop pumps in the crypto market. The thing is in crypto there’s DEXs and DEFI. Coinbase and binance are doomed long term. If you haven’t look into uniswap and 1inch.

Can you use uniswap or 1inch as a fiat onramp?

No and this is a problem. My own personal opinion is that once enough value is ramped then it grows and grows. I think once you see payroll in crypto at a Fortune 500 it’ll be a truly transitory moment.

Re: Coinbase announces proposed direct listing

#150

Post by reverend_gonzo »

mancerayder wrote: post #108

The AirBNB listing showed that banks favor their friends and clients in an IPO, when the price surged well before the debut allowed us Little People to buy. A direct listing would be cool and I hope they pursue that.

That’s the standard.

However, Airbnb allocated a number of shares to its own hosts, and a lot of Little People were able to partake in that if they were on the ball.

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