621–630 of 883 posts
And down bitcoin goes. $3k off the highs. If given a choice between 1 million to invest in in a large cap growth stock portfolio vs. Bitcoin, I would choose the stock portfolio every time. Crypto too volatile relative to upside. Airbnb and other big tech growth stocks have much smoother returns which can be magnified with some leverage strategies.
Earlier quoted context omitted.
A few arguments to justify the valuation: - Government intervention tends to benefit incumbents. - Coinbase employs a lot of lawyers [1]. - Coinbase invests a lot in lobbying [2]. - While fees are lowering for international exchanges, those who serve US customers are still able to get away with very high fees. - People are less sensitive to fees when the assets they are buying are very volatile. - NYSE serves brokers…
There is no way that Coinbase has a stronger lobbying base than the established financial players. They can get into this game, block it with tighter regs, and dig into their deep base of clients to offer similar products. I don’t see a moat here.
https://www.coindesk.com/cryptocurrency-ceo-donated-second-l...
The NYSEs parent company Intercontinental Exchange Inc (ICE) is worth 66.40B. Today's IPO puts Coinbase at 100B+. The NYSE has been in operation since 1817. Coinbase has been in operation since 2012. The value of all crypto is Trading fees in the crypto-world are getting more competitive as more established players support crypto. I don't see a defensible market position here, let alone established track record or st…
Bitcoin alone is worth over 1T, so your statement that all of crypto is worth less than 1T is a bit silly. The goal posts keep moving for crypto...next year it'll be that crypto is worth less than 5T, etc. I looked at the NYSE daily volumes...unless I'm reading them wrong, they did $800m USD worth of trades today. Coinbase did $5b USD worth of trades today. So if you compare a company that's almost 200 years olds vol…
Earlier quoted context omitted.
Banks rip off companies in IPOs by underpricing the stock so their investors get a kickback. That's the least charitable way to write it, but it's somewhat close to the truth (the other part of the truth is that pricing is hard which is why we have markets). DPOs allow companies to list at a reference price without losing out on money - they can sell at the true price later. Banks naturally make up a bunch of reasons…
DPO is the same though right? If you do the capital raise before the DPO or a capital raise in an IPO there isn't much difference.
You can list and put up shares on the market later.
I think there's something new where you can list directly and then sell to the public too without the bank underwriting rip off thing, but that's the edge of my knowledge. I'm not super confident here, so definitely possible I'm wrong about specifics.
The NYSEs parent company Intercontinental Exchange Inc (ICE) is worth 66.40B. Today's IPO puts Coinbase at 100B+. The NYSE has been in operation since 1817. Coinbase has been in operation since 2012. The value of all crypto is Trading fees in the crypto-world are getting more competitive as more established players support crypto. I don't see a defensible market position here, let alone established track record or st…
Bitcoin alone is worth over 1T, so your statement that all of crypto is worth less than 1T is a bit silly. The goal posts keep moving for crypto...next year it'll be that crypto is worth less than 5T, etc. I looked at the NYSE daily volumes...unless I'm reading them wrong, they did $800m USD worth of trades today. Coinbase did $5b USD worth of trades today. So if you compare a company that's almost 200 years olds vol…
You are orders of magnitude off here. If you really think the stock market is that small you probably shouldn't be here commenting about it
Earlier quoted context omitted.
And in Brian had simply bought bitcoins with his $10.000 in 2012, when the price was $4-$12 per piece? He could have bought 833-2500 bitcoins, with a current value of $5.2500.000 - $157.500.000. He choose to do more than "HODL" and go through the hard work of building a product and a company, which in my book, makes him a true hero. Even though he went the casino/shitcoin rout later...
Would bitcoin be worth nearly as much as it now if Coinbase didn't exist?
Earlier quoted context omitted.
Airbnb doesn't have network effects, the value to users increases pretty linearly with the number of hosts, and doesn't really increase at all with the number of other users.
Also ignoring most cities now are banning or highly regulating these illegal hotels in residential neighborhoods Coinbase seems less threatened by regulations
Earlier quoted context omitted.
It depends on the scale of shit hitting the fan. If the global internet goes down and stays down, then I think it's safe to say that global civilization is permanently collapsing, in which case billions of people are going to die in the resulting famine and the survivors probably won't be able to maintain enough technology to survive long term as climate change continues to snowball. In this scenario, yeah bitcoin is…
it wouldn't even take a global internet shortage, just your country to go offline, how you gonna pay someone to get you out(keep you safe, etc) if you cant transfer your crypto to them? A few ounces of gold on the other hand will take you anywhere you want to go. Crypto is far from a safe hedge in any type of crazy event. you see, gold can still be traded without power and internet, as could cash or really anything p…