Coinbase is the only exchange I know off that still supports sending coins to a private wallet in WA and NY. Localbitcoins and Kraken stopped supporting that, and RobinHood never did. It's a shame.
Coinbase to go public on 4/14
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Re: Coinbase to go public on 4/14
#42Under what circumstances would it make sense to invest in Coinbase compared to Bitcoin/underlying? Doesn't really make sense if you're bullish on crypto. Even seed investors who invested in Coinbase when it was founded would've been financially better off just buying Bitcoin/underlying. The situation here is unique because all of the popular coins have fixed supplies so any increase of popularity will have the commen…
CoinBase makes money through purchase and transfer fees even if the underlying crypto doesn't go up in value or even goes down.
Mature coins no longer go up in value in double digits multipliers but their trade volume is bigger than ever because of the increased interest and online markets, be it the ones on (dark.fail) or Tesla.
Your other choice to benefit from the increase in the trade volume is to setup your own rig and join a mining pool, but that's more involved than what most people are willing to do.
Re: Coinbase to go public on 4/14
#43Under what circumstances would it make sense to invest in Coinbase compared to Bitcoin/underlying? Doesn't really make sense if you're bullish on crypto. Even seed investors who invested in Coinbase when it was founded would've been financially better off just buying Bitcoin/underlying. The situation here is unique because all of the popular coins have fixed supplies so any increase of popularity will have the commen…
Consider the end game where Bitcoin achieves its stable store of value. It doesn't go up, but when people buy houses they sell their Bitcoin savings and when people sell their vacation home they park the money in Bitcoin. The more that happens, assuming Coinbase is the intermediary, the more Coinbase revenue goes up with flat coins.
Re: Coinbase to go public on 4/14
#44Absolutely fantastic news. Congratulations to the entire coinbase team! (Now please do better at customer service <3)`
> Congratulations to the entire coinbase team! Yeah congratulations to the Coinbase founders, employees, VCs, investors and institutions who have a stake in Coinbase. They are the real winners in this IPO. The losers will be the foolish late retail investor who buys on IPO day. (Since it will dump due to the institutions selling off) and the past employees who walked out due to Coinbase's stance during the woke revol…
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Re: Coinbase to go public on 4/14
#45Re: Coinbase to go public on 4/14
#46Wait... Is there no crypto token to invest in Coinbase directly?
Unfortunately not. Brain and Alesia addressed this in their AUS on Reddit. They thought hard about this and wanted to do it, but weren’t quite there yet.
Re: Coinbase to go public on 4/14
#47Coinbase is the only exchange I know off that still supports sending coins to a private wallet in WA and NY. Localbitcoins and Kraken stopped supporting that, and RobinHood never did. It's a shame.
Wait how does this work. If you can't withdraw then in what sense do you even own the coins?
Does this mean that if you are, say, a New York based Robinhood customer, and you buy Bitcoin, then the only thing you can do with them is sell them later?
Re: Coinbase to go public on 4/14
#48Re: Coinbase to go public on 4/14
#49After not paying attention to cryptocurrency for a few years and then opening a Coinbase account earlier this year, I was SHOCKED how fast and easy everything was. From what I can discern as a user, they've made a great platform.
My one worry-- it seems like they use a similar pattern to Robinhood where upon purchase they grant an asset immediately (synthetically?), and then settle up actual holdings after the fact. What kind of risk does that open them up to in an asset class as volatile as crypto?
Re: Coinbase to go public on 4/14
#50Coinbase is the only exchange I know off that still supports sending coins to a private wallet in WA and NY. Localbitcoins and Kraken stopped supporting that, and RobinHood never did. It's a shame.
Wait how does this work. If you can't withdraw then in what sense do you even own the coins? Does this mean that if you are, say, a New York based Robinhood customer, and you buy Bitcoin, then the only thing you can do with them is sell them later?
I guess the analogy would be that you're actually holding a share in a Robinhood trust, the value of which is X bitcoin.