Coinbase from YC to DPO • Hacker News Board

Re: Coinbase from YC to DPO

#451

Post by k00b » Wed, Apr 14, 2021, 8:40 PM UTC

paulpauper wrote: post #414

aphextron wrote: post #407

Earlier quoted context omitted.

>also airbnb is not dependent on the value of a speculative asset. What do you think US real estate is?

people need shelter, they do not need crypto . There is huge demand for housing in metro areas even in spite of Covid, and regulation and other restrictions make it hard to increase supply, and landlords generally want to lock-in long-term rents with good credit scores due to difficulty of evicting, meaning more demand for short-term rentals. .

Things precede shelter in the hierarchy of needs yet shelter is still valuable. Also there are shades of shelter. Most people might not want to live in the trailer park of money.

Re: Coinbase from YC to DPO

#452

Post by rawtxapp » Wed, Apr 14, 2021, 8:41 PM UTC

nly wrote: post #432

rawtxapp wrote: post #424

Earlier quoted context omitted.

It's just a smart contact vault, you can put collateral, take it out whenever you want, you just need to make sure that at any given point in time you have at least 150% of your debts value in collateral in the vault. This person is at over 400%, so very conservative borrowing, can withdraw some collateral. There are also centralized versions with blockfi if you prefer traditional loans.

150% collateral (66.7% LTV) seems fairly risky for an asset like Bitcoin tbh

It handled the black swan event of complete market crash at the beginning of the pandemic pretty easily. And the other thing is Bitcoin's market cap is well over 1T$ now, as expected the volatility goes down as the market cap goes up. I suspect those ratios are going to come down significantly within couple of years.

Re: Coinbase from YC to DPO

#453

Post by NaturalPhallacy » Wed, Apr 14, 2021, 8:41 PM UTC

marrone12 wrote: post #272

px43 wrote: post #248

Earlier quoted context omitted.

Eh, maybe a month ago I found a Coinbase account from 2013 that I had forgotten about, and it still had everything in it. Your story makes no sense. Coinbase support has always been pretty good for every problem I've ever had. Why talk to someone on the phone when you can click a button and have a live chat with a support agent instantly? https://help.coinbase.com/en/contact-us

Is this a plant? coinbase support is notoriously horrible, even my friend who works at the company thinks it's bad.

If half the company isn't reading this thread I would be shocked. They came from YC and they're mostly a bunch of nerds like us.

Re: Coinbase from YC to DPO

#454

Post by jude- » Wed, Apr 14, 2021, 8:42 PM UTC

sibeliuss wrote: post #416

jude- wrote: post #392

Earlier quoted context omitted.

If you're producing blocks, you're getting paid (otherwise what's the point). If the probability you get picked to produce a block is proportional to how many coins you own, then you're getting paid proportional to how many coins you own. I don't care for Algorand's shell game of trying to say that all tokens have been minted already, and are just being distributed. If it's the case that nodes who stake more coins ar…

> If it's the case that nodes who stake more coins are getting paid more coins, then all of my analysis holds Thats fine, but it's an important clarification. All the tokens _have_ been minted already, and _are_ just being distributed. The mechanics are different. Owning 1 coin is one potential vote in a lottery to determine the validity of a proposed block. This is not the generation of new coins. In any case, regar…

I'm glad we agree, then, that Algorand is just as vulnerable as all the rest of the PoS systems.

Re: Coinbase from YC to DPO

#455

Post by omgJustTest » Wed, Apr 14, 2021, 8:42 PM UTC

sandworm101 wrote: post #448

whatever1 wrote: post #433

For reference, BP the number five global oil behemoth with 200B in revenues in 2020, has a market cap of 85B. Coinbase that sells pumped speculation for a fee has a market cap of 100B. Markets are efficient.

>> Markets are efficient. They are certainly great at turning air into gold. Maybe that was always their true purpose.

No they are turning gold into bitcoin. :)

Re: Coinbase from YC to DPO

#456

Post by gonehome » Wed, Apr 14, 2021, 8:43 PM UTC

Aunche wrote: post #431

eloff wrote: post #358

Earlier quoted context omitted.

Its not pedantic at all, it's the most interesting part of this IPO, because this is a new way to do IPOs.

Spotify and Slack went public through direct listings as well.

Also Palantir and Roblox - I think it's the way forward for most companies. Spotify was the first and the others have had slight variation to terms, but the core idea is good.

Re: Coinbase from YC to DPO

#457

Post by dylkil » Wed, Apr 14, 2021, 8:43 PM UTC

whatever1 wrote: post #433

For reference, BP the number five global oil behemoth with 200B in revenues in 2020, has a market cap of 85B. Coinbase that sells pumped speculation for a fee has a market cap of 100B. Markets are efficient.

the salt on this board when it comes to crypto only gets worse as time goes on

Re: Coinbase from YC to DPO

#458

Post by rgifford » Wed, Apr 14, 2021, 8:43 PM UTC

ROARosen wrote: post #446

whatever1 wrote: post #433

For reference, BP the number five global oil behemoth with 200B in revenues in 2020, has a market cap of 85B. Coinbase that sells pumped speculation for a fee has a market cap of 100B. Markets are efficient.

So if their business model is raking it in by selling pumped-up speculation, and the pumped-up speculation market is a growing sector, then that's what is called an efficient business model which has nothing to do with the fact that markets are 'efficient'. Also, since when does anyone care if casino's business is based on pumped up gambling. As long as there are millions of transactions going on, the business model…

> As long as there are millions of transactions going on, the business model will stay 'efficient'.

I have a timeshare to sell you.

Re: Coinbase from YC to DPO

#459

Post by arcticbull » Wed, Apr 14, 2021, 8:44 PM UTC

ketamine__ wrote: post #449

spurdoman77 wrote: post #27

Earlier quoted context omitted.

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.

It's on the Binance wikipedia page.

Wikipedia cites a Malta Today article from 2019.

> [Binance established their headquarters in Malta] soon after the Maltese government passed laws that provided a regulatory framework for businesses operating in the Cryptocurrency and Blockchain industry. The regulation officially passed into a law on July 4th 2018. Malta remains the only country in the world to officially pass such laws.

The Coindesk article from 2020 states:

> Until February [of 2020], Binance was considered to be based in Malta. That changed when the island European nation announced that, no, Binance is not under its jurisdiction. Since then Binance has not said just where, exactly, it is now headquartered.

And quotes CZ:

> “Well, I think what this is is the beauty of the blockchain, right, so you don’t have to … like where’s the Bitcoin office, because Bitcoin doesn’t have an office.” [1]

The Wikipedia article is stale, and incorrect on the basis of the subsequent statements from executives involved.

The beauty of blockchain indeed.

[1] https://www.coindesk.com/binance-doesnt-have-a-headquarters-...

Re: Coinbase from YC to DPO

#460

Post by o_p » Wed, Apr 14, 2021, 8:44 PM UTC

whatever1 wrote: post #433

For reference, BP the number five global oil behemoth with 200B in revenues in 2020, has a market cap of 85B. Coinbase that sells pumped speculation for a fee has a market cap of 100B. Markets are efficient.

Ok no-coiner.