Coinbase valued above $100B, ahead of direct listing • Hacker News Board

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

#301

Post by bl557 » Sun, Feb 21, 2021, 6:43 PM UTC

eloff wrote: post #162

mewpmewp2 wrote: post #142

Earlier quoted context omitted.

The other possibility is that it will be widely used in the future as a store of value or for some other purposes. Might be rational to put at least some percentage of your net worth into it. People need and want something like that to exist where they have complete control over their assets without any worries about government or institutions.

In reality it is probably both. Unless governments take a hard line against bitcoin by banning it, something they mostly haven't been doing to date, I expect it will have a future as a kind of digital gold. However, gold has tens of thousands of years of history as an asset class, while bitcoin is a little less proven. Don't forget it used to be illegal to own gold in the US, so bitcoin is not as safe from government…

Bitcoin is still only 1/10 the market cap of gold, with the argument by Bitcoiners being that the asset is a 10-100x improvement over gold.

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

#302

Post by solosoyokaze » Sun, Feb 21, 2021, 7:58 PM UTC

ImprovedSilence wrote: post #283

solosoyokaze wrote: post #178

Earlier quoted context omitted.

With land you'll have to pay property tax, which will be impacted by inflation as the land will be reappraised. Just something to keep in mind.

A lot of states have tax breaks for ag land, or land that doesn't contain a permanent dwelling. Taxes overall can be quite low in rural counties regardless. And even with property tax, money can be made leasing the land to farmers or timbering it. There is plenty of value to be had in owning land. Plenty to be lost too, sure if you don't know what you're doing.

Interesting, thanks for adding that. I'm not a sophisticated investor but I do like to invest in REITs to capture rising property values.

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

#303

Post by Ir0nMan » Mon, Feb 22, 2021, 8:20 AM UTC

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…

>there is no Bitcoin tracking security on public markets

$GBTC Grayscale Bitcoin Trust

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

#304

Post by Cullinet » Tue, Feb 23, 2021, 4:42 PM UTC

tedfernau wrote: post #285

Cullinet wrote: post #230

Earlier quoted context omitted.

conceptually holding more cash than you can usefully spend reduces your cash value and doesn't have to happen with inflation I remember Buffets letter to shareholders apologising Berkshire Hathaway wasn't able to continue delivering the same historic returns because that trajectory would require them to own every publicly traded asset in the world after ten more years. even now you can potentially eliminate the major…

This seems more like chasing yield and less like cash losing value or being a bad asset. Cash obviously has benefits to hold and that isn’t changing soon.

absolutely agreed I'm all cash since 2018 in fact, which is why I'm sensitive to the cost of that liquidity.

I noticed a comment sadly without details reporting a third party obtained a crypto collateralized 7 figure loan obtained in a matter of minutes which interested me enough to plan a new survey of the infrastructure in the market. I'm personally interested in pending short term 5 figures as a business. but only if I can figure out how report to credit agencies specifically for positive feedback and I am only interested in non secured lending but whilst holding the underlying as the custodian. unsecured loan performance is a particularly valuable credit record history especially in the present volatility. the model I wish to pursue is to provide liquidity for trading traditional instruments and by acting as custodian for both crypto and trad assets, providing as USP analytical tools and guaranteeing fills on quotes from my ticker, acting as guarantor for the trades to a mainstream financial or bank. I won't go into the model but it does include kicking back fees from my prime broker for the volume and transparently revealing the collars around the spread enabling truly immediate liquidity and real time netting. hedge strategy p&l to benefit customers when closing in the market thereby paying every customer for anything that they left on the table excess for buying the liquidity.

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

#305

Post by ric2b » Wed, Feb 24, 2021, 11:19 PM UTC

Sparkle-san wrote: post #252

ric2b wrote: post #193

Earlier quoted context omitted.

Sure, until you want to go to college, or buy a house, or have access to healthcare or buy some stocks to save for retirement. But if you don't want to improve your life and just want to survive until the next paycheck sure, I guess inflation is low.

Given that all of those things have increased in cost at rates far beyond 2%, I don't really see how you blame that on the inflation of the USD as a whole. They have their own systemic problems attributing to their astronomical costs.

> Given that all of those things have increased in cost at rates far beyond 2%, I don't really see how you blame that on the inflation of the USD as a whole.

My point is inflation isn't being measured in a way that actually matters to people worried about more than buying groceries and a new laptop.

If all those things were included in the measurement inflation would be way over 2%.