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Coinbase from YC to DPO

blog.ycombinator.com

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Re: Coinbase from YC to DPO

#31

Post by nuclx »

asdev wrote: post #7
Tenoke wrote: post #5

I still prefer Binance who are exposed to users via actual crypto (BNB) than Coinbase who are trying to eat the trad investors exposure and banking on their preferential treatment from US regulators. Not to mention that Binance has 9x the volume, much much more crypto and is pro-competition and lists Coin on day 1 while CB wouldn't even consider listing BNB or anything by competitors.

CB abides by regulators and doesn't list every crappy project that comes along. They're trying to bring legitimacy to crypto. Binance is the wild wild west still and BNB is a centralized useless ETH sidechain.

They're listing a scam that is XRP though.

Re: Coinbase from YC to DPO

#33

Post by wildrice »

Congrats, to YC. The world is full of people who will discount the success of Brian and , but in just a few short years he's created one of the world's largest financial institutions.

In line with the ethos of crypto? No, not at all, but a bridge has been made between the old world and the new. This IPO will load the coffers of some of the most innovative VCs, engineers, and people who took the risk of investing in, and working at Coinbase.

Re: Coinbase from YC to DPO

#35

Post by Fede_V »

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be significantly worse than the one we inherited to our children, and, it's not like the carbon emissions that crypto is creating are used in the service of creating valuable technology - it's literally useless proof of work.

I've worked in tech for a long time now, and I believe the stereotype about amoral techies is completely untrue - yet seeing the adoption of crypto among my peers is really depressing. I'm not sure how so many of my peers who would never ever work for a defense contractor or a vaping company are willing to work in crypto at this point. My objections are not ideological - if someone invented a cryptocurrency that was completely green and it would take over the market, I'd be totally in favor of it.

I would genuinely like someone to explain it to me, because, the kinds of essays I've read that try to argue that crypto is actually good for global warming are so shoddy that I can't believe people would take them seriously absent a huge dose of motivated reasoning.

Re: Coinbase from YC to DPO

#36

Post by thefourthchime »

tenaciousDaniel wrote: post #18
skybrian wrote: post #11

Well, “direct listing” apparently. I don’t think that counts as an IPO since there’s no offering? It seems not to be trading yet, or at least Google and Yahoo don’t have it.

Fidelity doesn't have it yet either. It gives an error, something about not being able to purchase it until its on the secondary market.

I came here with the same question. When is this thing actually going live?

Re: Coinbase from YC to DPO

#37

Post by spicyramen »

Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

I would be worried more about living in a country with high inflation and been able to use cryptos. Can you share your specific concerns about environmental impact?

Re: Coinbase from YC to DPO

#38

Post by unreal37 »

Fede_V wrote: post #35

I'm horrendously worried about crypto gaining more marketshare as long as proof of work crypto remains mainstream. It has significantly worse externalities than just about any company I can think of (including defense contractors/vaping companies), and, if it grows larger before we have clean energy, then we virtually guarantee we won't be able to tackle global warming. We are going to bestow a world that will be sig…

What do you think about computers that are always on 24/7? Or TVs that never turn off (even if the screen is off)?

(ETA: 23% of household energy use is by always-on devices. The scale of this waste is MASSIVE.)

Devices in our life consume energy 24/7 when we're not even using them or needing them to be on. Energy conservation has a LONG way to go.

In fact, one could argue that the current stock market system is a huge waste of energy compared to the benefit it actually brings to "raising money for companies".

Re: Coinbase from YC to DPO

#40

Post by arcticbull »

spurdoman77 wrote: post #27
Tenoke wrote: post #8

Earlier quoted context omitted.

>intentionally looking the other way to people opening multiple accounts to avoid KYC That's blatantly false. Many have been caught trying to circumvent via VPN or similar, it's just impossible to catch quite everyone no matter how hard you try. >which country they're domiciled. Malta?

https://coingeek.com/binance-not-licensed-to-operate-in-malt... Binance has never been in Malta, in fact they are not located anywhere. I would be very cautious in dealing with them because to me that kind of approach to regulation doesnt sound healthy.

> For example, the company’s chief growth officer, Ted Lin, told Decrypt just a few days ago, “We have offices in Malta for customer services, and some compliance people there, but it’s not the headquarters per say [sic]. It’s the spiritual headquarters. It’s a name that people think about when they think about Binance.”

Oh my god lol.

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