Since this is a direct listing, imagine making the first trade. There's no price for it. You might be an institutional investor who negotiated a price beforehand with large shareholders. Or maybe it's a bunch of people yoloing it with limit orders.
Coinbase from YC to DPO
81–90 of 883 posts
Re: Coinbase from YC to DPO
#82Earlier quoted context omitted.
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.
Coinbase delisted them.
Re: Coinbase from YC to DPO
#83I was an early user of coinbase. I only bought a fraction of a coin because of Paul Graham and YC's reputation. Well .. I was wrong. I was not an active trader. It seems they have closed by account and liquidated the btc within (if there were actually btc in my name). I am deeply disappointed that they don't have a telephone number I can call to help figure out the situation. Pretty disappointed.
> It seems they have closed by account and liquidated the btc within
This might not be completely legal. How much Bitcoin was it and what it is the date of liquidation?
Re: Coinbase from YC to DPO
#84Coinbase is definitely a success story in how to appeal to the masses. There were always alternatives, but coinbase always came out on top despite the high fees and poor customer service. I think Coinbase as a publicly traded company will be very interesting to follow. Not only is it a massively cyclical industry, but the supposed point of crypto is to reducing the reliance on, and grifting from, companies like Coinb…
> the supposed point of crypto is to reducing the reliance on, and grifting from, companies like Coinbase That was the pitch of crypto. In practice, people are buying it as a bet that it will go up. I suspect most people are only buying it because the value is going up. If bitcoin actually worked like a currency and traded between $8k and $12 for the past 5 years, no one would care.
Except currencies have much bigger market caps, it wouldn't have worked as a currency in that range (outside of a very small economy). We are now in the initial phase where it's being used as a store of value, but sooner or later, it's going to reach roughly it's true value at which point, you would expect it to behave more like a currency rather than an asset with a huge upside.
Re: Coinbase from YC to DPO
#85I 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.
Well, Binance is, somehow, dramatically more of a fly-by-night bucket shop intentionally looking the other way to people opening multiple accounts to avoid KYC -- and they won't event tell you in which country they're domiciled. They're one of Team Tether's top partners in crime. How on earth can you believe their volume numbers haha.
> How on earth can you believe their volume numbers haha.
They might be inflating their numbers but they are definitively huge. Everyone I know who is involved in Crypto is using them.
Re: Coinbase from YC to DPO
#86Earlier quoted context omitted.
PoW is on it’s way out - Ethereum is moving away from it and there is no reason for other cryptos to not follow. The major player in PoW will remain Bitcoin, which won’t change. But as soon as solar/wind become cheaper than coal, it will switch to green without a blink of an eye. A random thought - I’m genuinely surprised Bitcoin folks didn’t yet crowdfund building a nuclear reactor for mining purposes ;) They crowdf…
BTC is already mostly powered by green
The study I think you’re referring to came from a crypto company. It’s the equivalent of when cigarette companies released studies saying smoking was good for your health.
Re: Coinbase from YC to DPO
#87Since this is a direct listing, imagine making the first trade. There's no price for it. You might be an institutional investor who negotiated a price beforehand with large shareholders. Or maybe it's a bunch of people yoloing it with limit orders.
I believe it starts with a reference price of 250$ per share.
Re: Coinbase from YC to DPO
#88Bitcoin is an enormously wasteful ponzi scheme mind virus and YC should be ashamed of their involvement in it - not proud. I long for the day (which it seems may come soon!) when cryptocurrencies are outlawed and we can all move on with our lives.
Outlawed? I don't think that will be possible. Bitcoin is part of the US financial system already!
https://en.wikipedia.org/wiki/Executive_Order_6102
This was almost certainly a blatant due process violation, though. FDR was fond of those.
Re: Coinbase from YC to DPO
#89Unpopular opinion - Bitcoin would be better without Coinbase.
Not really. The ship of a single exchange or wallet dominating Bitcoin or the crypto space has sailed. It's quite hard for Coinbase to have any significant control over the network. (ie: Bitpay tried that and now they are mostly history).
Coinbase provides a regulated environment for trading crypto-currencies as well as on-off ramps to traditional finance. It's definitively a plus to have them around.
Re: Coinbase from YC to DPO
#90Unpopular opinion - Bitcoin would be better without Coinbase.
What's the reasoning behind your opinion?