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Coinbase stock lost over 75% value

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Re: Coinbase stock lost over 75% value

#141

Post by dQw4w9WgXcQ »

gmays wrote: post #29
wallawe wrote: post #4

I'm a buyer at this point. We'll see how earnings turn out tomorrow, but no matter how bad the macro environment, I think $COIN at 7 P/E is a good buy long-term.

Same. I've also bought Affirm, Shopify, Netflix, Peloton and Roblox in addition to Coinbase since they've all dropped ~70-90% in the last 6 months. I agree they were overvalued, but we seem to be in overreaction territory now. Even if we haven't seen the bottom yet, I think we'll see a lot of upside in these over the next 2-5 years.

Peloton is headed the way of GoPro. They were a pandemic fad for folks stuck in their homes and now you can't get rid of them on FB Marketplace etc.

Re: Coinbase stock lost over 75% value

#142

Post by kolbe »

pavlov wrote: post #101
kolbe wrote: post #76

Earlier quoted context omitted.

You may want to go see what $COIN's P/E is and get back to me.

What’s the forward P/E? Nobody has any idea because their profits depend on so many fickle variables: crypto prices, crypto trader enthusiasm, and competing exchanges not entering a race to the bottom that would put pressure on their margins.

No one knows anyone's forward P/E.

Re: Coinbase stock lost over 75% value

#143

Post by neogodless »

lettergram wrote: post #84
cj wrote: post #31

I’m particularly sad to see Cloudflare’s stock having plummeted. Out of all the tech companies that IPO’d in the past few years, Cloudflare is one that the most potential to excel long term. Developer sentiment towards Cloudflare is comparable to Apple fanboys of the previous decade, and their products are legitimately good, backed with tangible assets (datacenters). They also have consistent growth quarter over quar…

I bought at the peak for cloudflare and had a similar thought process. After losing 15-20%, I decided to sell. Figured I'd buy again after it dropped further. Guessing when it's 80-90% down from peak I'll end up repurchasing.

I strongly expect it to drop to 79% off peak before a very rapid rise back up. Best you don't miss it waiting for 80...

Re: Coinbase stock lost over 75% value

#144

Post by [deleted] »

rabuse wrote: post #120
koolba wrote: post #87

Earlier quoted context omitted.

They make money from people transacting. Every buy or sell on their platform nets them a commission so their total revenue is directly proportional to how frothy the market is feeling. A major crash like we’ve been seeing in both the traditional market and crypto space means there is less money coming in, less money moving around, and less fees for Coinbase. And with a persistent recession you’re not going to see peo…

They generate a lot of their revenue from a fee percentage for every transaction, so it really shouldn't affect them on crypto price swings, as long as people are still purchasing crypto.

[deleted]

Re: Coinbase stock lost over 75% value

#145

Post by pavlov »

kolbe wrote: post #142
pavlov wrote: post #101

Earlier quoted context omitted.

What’s the forward P/E? Nobody has any idea because their profits depend on so many fickle variables: crypto prices, crypto trader enthusiasm, and competing exchanges not entering a race to the bottom that would put pressure on their margins.

No one knows anyone's forward P/E.

We can’t literally know anything about the future. But we have a much better idea of the possible range for AT&T’s 2023 earnings than Coinbase’s. (Not saying you should invest in AT&T either.)

Re: Coinbase stock lost over 75% value

#146

Post by kolbe »

anonu wrote: post #99
wallawe wrote: post #4

I'm a buyer at this point. We'll see how earnings turn out tomorrow, but no matter how bad the macro environment, I think $COIN at 7 P/E is a good buy long-term.

P/Es are irrelevant here I think. $COIN is a transaction-based business. Transactions are correlated with the price of BTCUSD. BTCUSD is down 50% in 6 months. The r/wsb crowd and others just wont be as enthused to trade something that isn't going to the moon. Thus, transactions will continue to trend down and $COIN will suffer.

However, the spread they make on their transactions gets wider as price action is more volatile.

Re: Coinbase stock lost over 75% value

#147

Post by tmp_anon_22 »

outside1234 wrote: post #130
acchow wrote: post #54

Earlier quoted context omitted.

Wouldn't it be a problem for Coinbase if the crypto market all but evaporates?

The crypto market won't all evaporate because it is a very useful tool for money laundry, illegal transactions, and bribes. But this is hopefully a much smaller market than the current one.

> money laundry, illegal transactions, and bribes.

Is it good for those things if you have to launder it AGAIN (with fees) just to get it back to a practical fiat currency?

Re: Coinbase stock lost over 75% value

#148

Post by mrpopo »

akomtu wrote: post #140
m1117 wrote: post #63

As a russian I like coinbase. It promotes crypto, which makes my world warmer.

I was about to make a joke about nuclear teapots powering cryptominers with their excess heat, but then realised this might be a legit idea: nuclear waste, that nobody knows what to do with, could be used to power asics mining bitcoins.

Nuclear waste literally comes from power plants. If their residual heat could be used to generate electrical power, it would be done already.

It can be (and is, although not everywhere) used, for cogeneration - residual heat from any thermal plant used for district heating/industrial heating processes.

Re: Coinbase stock lost over 75% value

#149

Post by legobmw99 »

StanislavPetrov wrote: post #86

I remember the "dotcom crash" of 2000, after which all of the scuttlebutt was about how the internet was a fad and all the related investments were just a giant bubble. The rhetoric I'm hearing today about crypto is strangely reminiscent. How it will turn out, nobody knows, but humility is warranted if history is any guide.

This is ripe for survivors bias. Nobody remembers the time people said “X is just a fad”… and it was

Re: Coinbase stock lost over 75% value

#150

Post by augstein »

bfz wrote: post #139
chollida1 wrote: post #117

Earlier quoted context omitted.

> I think we'll discover before the end of this year just how many of the tech darlings were largely side effects of the poisonous sandbox constructed by the US fed ?? Poisonous sandbox? Is this an awkward way of referring to money printing? Or the low interest rate environment?

It warms my heart to think I could still be graded on language use so late in life. How would you describe it?

Its a perfect metaphor for the kind of environment the FED created in the last few years for risk assets imo.
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