301–310 of 883 posts
It's a tiny bit pedantic, but the Coinbase offering today was not actually an IPO, I learned, but a DPO (Direct Public Offering). It was not a fundraising event for Coinbase, only a liquidity event for shareholders, and unlike an IPO no explicit valuation process occurred to select an offering price.
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Well, what's the average time to a $100B IPO?
Getting closer to infinity every day.
I know there's certain pressures - like the 7 year clock on RSUs, and there's still a cap on outside investors right?
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For the uninformed, what mathematical guarantees does POW have that POS doesn’t?
PoW is anchored in some real-world value, the cost of electricity. PoS is not. Most of PoW’s security and tamper-resistance advantages derive from that characteristic.
It's a tiny bit pedantic, but the Coinbase offering today was not actually an IPO, I learned, but a DPO (Direct Public Offering). It was not a fundraising event for Coinbase, only a liquidity event for shareholders, and unlike an IPO no explicit valuation process occurred to select an offering price.
What difference does it make? Shares trading openly on the market is as explicit a valuation process as it gets.
https://blog.coinbase.com/a-follow-up-to-coinbase-as-a-missi...
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Right, you know in a completely unregulated market, you can just put fake things on the books yeah? Remember that ETF that was trying to list a few years ago said 95% of all volume in the crypto space was fake. [1] Now, at the time, they included Binance as a legitimate exchange but you know nobody's looking and they can do literally whatever they want. That designation is especially suspect as: > Of the 10 exchanges…
I mean, how can what's on the book be be fake if my trades are executed faster, the spread is smaller and I can take advantage of the higher liquidity?? Those things aren't just arbitrary numbers with no effect, if you are trading it's pretty noticable where the volume is higher even if you don't look at the order book.
You know 99% of all LTC trading on Coinbase was one account trading back and forth with itself a couple years ago. Spoof trading involves putting up a big order, then yanking it at the last second before it gets executed.
If you're the house, you can do literally anything if only the fox is watching the henhouse. As the peer response states, if you're the house, you know which orders are yours so there's zero risk of them accidentally getting filled. You put fake orders on the books, you fake close them, and report them as a real transaction in the log. The liquidity can just be pretend.
[1] https://www.complianceweek.com/regulatory-enforcement/cftc-f...
Coinbase is very profitable and has huge cash reserves for a company of its size. I don't see any reason why they would feel the need to IPO if not to take advantage of people's FOMO.
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Staking rewards for new block generation is inflationary, so you are just not losing value by staking. Additional value is generated by fees and store of value. With PoW coin you are constantly devaluing your share of the blockchain by paying some third parties operating giant gpu farms and hydroelectric dams.
> block generation is inflationary > store of value. I stopped reading at this point.
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Couldn't agree more. I struggle to comprehend how an energy obliterating and (relatively speaking) primitive technology like Bitcoin is the top dog in this space. Sure, first mover advantage counts for something, but come on - how has superior tech not yet left it in the rearview. In a space that moves at such rapid pace with heavy investment and buckets of innovation, at some point the crowd surely will migrate en m…
Bitcoin is the only cryptocurrency that is very hard to change. This property is critical for sound money, including for the emission schedule. Other coins are easy to change and so cannot be relied upon to preserve any properties, including emission schedule. Vast majority of coins is also not decentralized at all and being so prone to get effectively regulated.
Coinbase is very profitable and has huge cash reserves for a company of its size. I don't see any reason why they would feel the need to IPO if not to take advantage of people's FOMO.
And the timing seems right -- Bitcoin is sky-high and could crash tomorrow. (I'm presuming here that Coinbase and BTC will be highly correlated, but who knows.)