661–670 of 883 posts
Earlier quoted context omitted.
That's a disingenuous argument. Just because you won't accept your salary in Euros, doesn't mean you don't have faith in the future of it.
How so? You would think the currency of the future would be liquid enough to provide capital for their growth no? Why resort to raising USD?
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…
If you add up all the brokers/investment banks, clearing companies that are related to ICE you get to a way larger number.
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.
This is the correct take, IMO. This feels to me like a lot of higher-ups at Coinbase are sensing the peak of a crypto hype wave and want to take advantage of the moment to cash out and spread their risk around. Plus they have privileged access to real-time data on crypto market movement (I assume); they’ll know if a btc sell off is brewing long before anyone else. The fact that BTC only jumped to 64k is telling...
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…
>This is all feeling very dotcom bubble 2.0. How many dotcom era companies had net income of $800mil in a single quarter?
Only MSFT outperformed from dot com heights. Valuation matters.
Fun trivia: Brian Armstrong was looking for a co-founder on HN back in 2012: https://news.ycombinator.com/item?id=3754664
I spoke to him on the phone within a few hours of that post, as I had already prototyped an app to do what was described. I didn't launch mine, nor participate in his (obviously). I suggested that a business in that space, if successful, would result in a similar outcome as happened to other founders of international money transmission systems that weren't under direct government control: i.e. swatting. He was not di…
Perhaps you have a answered yourself: “re-centralizing everything in a place that is easily and instantly censored by the exact system it was built to replace”.
Fun trivia: Brian Armstrong was looking for a co-founder on HN back in 2012: https://news.ycombinator.com/item?id=3754664
Props are owed for bringing some true innovation to the space.
I'd love to know how this turned out. Did he eventually find a co-founder? Or did he continue in his YC application as a sole-founder?
For those that don't want to click through: There are replies in that thread such as..
- "No thanks. I'd rather sell sugared water."
- "Because bitcoin worked out so well. Have fun with that, dude."
Earlier quoted context omitted.
>This is all feeling very dotcom bubble 2.0. How many dotcom era companies had net income of $800mil in a single quarter?
CSCO, DELL, IBM, MSFT & ORCL (Adjusted for inflation). Only MSFT outperformed from dot com heights. Valuation matters.