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Coinbase valued above $100B, ahead of direct listing

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Re: Coinbase valued above $100B, ahead of direct listing

#101

Post by uhhhhhhhhhhhhhh »

1helloworld1 wrote: post #48

I am afraid that we might be on the verge of another dot com level bubble. It's interesting to see how one inflated asset is propping up another. Tesla - which rose by 1000% in 2020, bought bitcoin. Ark Invest Etfs - some of the biggest actively managed etfs, hold significant amount of Tesla, and with the profit generated from Tesla's phenomenal rise, they are investing more on bitcoin. I believe in the future of cry…

So rather than a bubble, more of a crystal. Instead of burst it can shatter, or maybe sheave (chain fork?)

Re: Coinbase valued above $100B, ahead of direct listing

#102

Post by uhhhhhhhhhhhhhh »

ggm wrote: post #90
logicchains wrote: post #84

Earlier quoted context omitted.

>The marketplace should not of itself be valuable. If it is, its extraction of value for the goods/utility being traded. Due to regulatory capture Coinbase gets away with charging literally 10x higher fees than international exchanges, as US regulations essentially ban Americans from trading on most of the popular international exchanges, so Coinbase has little competition.

Yea... that's a scaaaaam. Its not sustained value.

Very American to bump prices for the sake of national identity lock-in.

Re: Coinbase valued above $100B, ahead of direct listing

#103

Post by ianai »

raiyu wrote: post #98

One important thing to note is that these are secondary transactions and not where the stock may potentially trade. Secondly, Coinbase doesn’t allow any secondary transactions, this was a company sponsored (approved) secondary. As a result this created immense scarcity so you can see how much the price changes just in these limited sales. Third, as we saw with the last bull run of Bitcoin everything with blockchain i…

https://en.wikipedia.org/wiki/Gresham%27s_law

Not sure of how it applies but there it is.

One way I could see this going: the smallest unit of a Bitcoin is a Satoshi. What happens when that value is greater than a transaction base cost?

Right now it’s $0.0005 or 100 millionth the cost of a coin. This implies a lot of runway.

Re: Coinbase valued above $100B, ahead of direct listing

#104

Post by tjs8rj »

1helloworld1 wrote: post #48

I am afraid that we might be on the verge of another dot com level bubble. It's interesting to see how one inflated asset is propping up another. Tesla - which rose by 1000% in 2020, bought bitcoin. Ark Invest Etfs - some of the biggest actively managed etfs, hold significant amount of Tesla, and with the profit generated from Tesla's phenomenal rise, they are investing more on bitcoin. I believe in the future of cry…

Is this like the dot com bubble? My understanding is that the mindset of the time was a true mania - people were convinced it was the new normal and that businesses got insane valuations preproduct even. It seems like with a lot of these bubbles everyone is like “get in this stupidly inflated asset with money you can lose to try and make a quick buck” with retail investing at all time highs rather than some dramatic distortion in people’s perspectives. Even while assets are so inflated the investor sentiment still seems sober.

Re: Coinbase valued above $100B, ahead of direct listing

#105

Post by wsc981 »

systemvoltage wrote: post #70
wsc981 wrote: post #34

Earlier quoted context omitted.

It’s Saturday morning for me in Thailand right now. I’m gonna drive a bit around on the 2nd hand motorcycle I bought this week - my own very first motorcycle. Lots of fun!

What model motorcycle did you get?

Honda CB300F. It’s an excellent beginner motorcycle.

Re: Coinbase valued above $100B, ahead of direct listing

#106

Post by tracedddd »

rapsey wrote: post #83
PragmaticPulp wrote: post #71

Earlier quoted context omitted.

Fed contributes, but it's hardly a singular explainer for the current market mania. The chart you shared hasn't even changed significantly since July. The Fed didn't print enough money to buoy Tesla 1000% or send Bitcoin up 100% in a month. There's no mechanism directing money straight from the Fed into the riskiest assets. Market mania has taken hold.

For bitcoin at least, Tether printed enough.

If you assume tether is largely legitimate, the observable behaviors would look indistinguishable from the claims of fraud.

Tether “being printed” is per design. Just like wire transfers and account signups to Coinbase, they align with spikes in price.

That’s not to say they are legitimate either, but the constant conjecture about it is mostly people confused about causation.

Re: Coinbase valued above $100B, ahead of direct listing

#107

Post by wsc981 »

HAL9OOO wrote: post #44
wsc981 wrote: post #34

Earlier quoted context omitted.

It’s Saturday morning for me in Thailand right now. I’m gonna drive a bit around on the 2nd hand motorcycle I bought this week - my own very first motorcycle. Lots of fun!

Where ya at in Thailand?

I stay in Mea Thalop, a small village near amphur Chaiprakan in the Chiang Mai province. Close to the border with Myanmar.

Next Friday I plan to do the 2-3 hour trip on motorcycle to Chiang Mai city. It’s through a mountainous snake road and with good weather very beautiful to drive.

Re: Coinbase valued above $100B, ahead of direct listing

#108

Post by otabdeveloper4 »

tjs8rj wrote: post #104
1helloworld1 wrote: post #48

I am afraid that we might be on the verge of another dot com level bubble. It's interesting to see how one inflated asset is propping up another. Tesla - which rose by 1000% in 2020, bought bitcoin. Ark Invest Etfs - some of the biggest actively managed etfs, hold significant amount of Tesla, and with the profit generated from Tesla's phenomenal rise, they are investing more on bitcoin. I believe in the future of cry…

Is this like the dot com bubble? My understanding is that the mindset of the time was a true mania - people were convinced it was the new normal and that businesses got insane valuations preproduct even. It seems like with a lot of these bubbles everyone is like “get in this stupidly inflated asset with money you can lose to try and make a quick buck” with retail investing at all time highs rather than some dramatic…

> people were convinced it was the new normal and that businesses got insane valuations preproduct even

How is that any different from today?

Re: Coinbase valued above $100B, ahead of direct listing

#109

Post by tracedddd »

ianai wrote: post #103
raiyu wrote: post #98

One important thing to note is that these are secondary transactions and not where the stock may potentially trade. Secondly, Coinbase doesn’t allow any secondary transactions, this was a company sponsored (approved) secondary. As a result this created immense scarcity so you can see how much the price changes just in these limited sales. Third, as we saw with the last bull run of Bitcoin everything with blockchain i…

https://en.wikipedia.org/wiki/Gresham%27s_law Not sure of how it applies but there it is. One way I could see this going: the smallest unit of a Bitcoin is a Satoshi. What happens when that value is greater than a transaction base cost? Right now it’s $0.0005 or 100 millionth the cost of a coin. This implies a lot of runway.

It can be extended if necessary.

Re: Coinbase valued above $100B, ahead of direct listing

#110

Post by tradertef »

tony101 wrote: post #54
kevindeasis wrote: post #33

Ah yes, possibly the 5th company that I wished I joined this past 18 months... Historically there were some exchanges that have been hacked. This caused not only the company to go bankrupt but people losing a lot of money. How does coinbase prevent this from happening? This is very much one of the reasons I will never hold crypto (FYI: I've wrote my own Golang flavour of ethereum blockchain and solidity when it first…

It's not perfect, but I believe Coinbase uses a combination of cold (offline) storage for most of its coins and insurance for the rest. Also, as you probably already know, people should not hold large sums on exchanges if they can use secure their own keys (and wallets) instead. > "Coinbase prioritizes the security of our customer's digital currency through a combination of online “hot storage” and offline “cold” sto…

You are assuming cold storage can not be "hacked" or "stolen". It is much more difficult at Coinbase scale but such an event would have drastic impact on crypto markets. Coinbase is too big to fail :)
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