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Coinbase stock lost over 75% value

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Re: Coinbase stock lost over 75% value

#151

Post by dheera »

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…

It's quite entertaining that when electronics and clothes go on sale people go buy buy buy, but when stocks go on sale people sell like crazy. People are weird.

Re: Coinbase stock lost over 75% value

#152

Post by thematrixturtle »

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?

It's a bit awkward since "poisonous" usually refers to things you eat, and sandboxes or their contents are generally not eaten.

If you want to continue the sandbox metaphor, which I do like, "playing in the Fed's sandbox until the bottom fell out" might work. Or even "toxic sandbox".

Re: Coinbase stock lost over 75% value

#153

Post by toomuchtodo »

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.

> Affirm

A credit firm whose customer base is primarily folks who have to finance their small ticket item purchases in order to afford them is going to have a tough time in a rising interest rate environment. Their margins will compress as their cost of capital rises, and their default rate will rise as their borrowers slowly approach insolvency in a recessionary environment. I would be cautious about investing in anyone who is lending to borrowers who don't have sterling credit and/or strong balance sheets and durable cashflows this late in the cycle.

Re: Coinbase stock lost over 75% value

#154

Post by cmrdporcupine »

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.

People weren't saying the "Internet is a fad" back then.

They/we were saying that many of the businesses that were being heavily invested in were unsound because they lacked a real plan towards profitability. Many businesses had no chance of turning profit, but were VC funded like crazy. I worked at a company that was doing "group buy" purchases and the product themselves weren't really getting real group discounts, so they just burned investment money to discount them. Literally buying customers under the thought that getting scale would just eventually solve the problem. And then the whole house of cards fell apart.

It wasn't until a few years later, when Google figured it out with AdWords, etc. that people started making real money.

There's no inherent reason to assume that this will happen with cryptocurrency.

Re: Coinbase stock lost over 75% value

#155

Post by eftychis »

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.

I mean cash is better for strictly better for illegal activities. That misconception has stuck and just stays there. One leaves way to many crumps with non-private digital assets. And private ones are treated like the plague.

Plus KYC and compliance checks for any exchange in the USA and EU (dunno about the rest of the world) practically bans anything iffy.

Compliance requirements have been stricter in Coinbase from my point of view than my banks...

Re: Coinbase stock lost over 75% value

#156

Post by ransom1538 »

toomuchtodo wrote: post #153
gmays wrote: post #29

Earlier quoted context omitted.

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.

> Affirm A credit firm whose customer base is primarily folks who have to finance their small ticket item purchases in order to afford them is going to have a tough time in a rising interest rate environment. Their margins will compress as their cost of capital rises, and their default rate will rise as their borrowers slowly approach insolvency in a recessionary environment. I would be cautious about investing in an…

I honestly believe that stock is headed to $0 and may de-list. disclosure: may short it

Re: Coinbase stock lost over 75% value

#157

Post by Solvitieg »

vrc wrote: post #94
freyr wrote: post #79

Earlier quoted context omitted.

Down 71% from the recent peak, still up 264% in the past 2.5 years.

Small consolation for all of those people with big equity packages on recent prices.

When Robinhood's stock tanked, employees were given a bump in equity. I suspect Coinbase will do the same if they haven't already.

Re: Coinbase stock lost over 75% value

#158

Post by jhugo »

thematrixturtle wrote: post #152
bfz wrote: post #139

Earlier quoted context omitted.

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

It's a bit awkward since "poisonous" usually refers to things you eat, and sandboxes or their contents are generally not eaten. If you want to continue the sandbox metaphor, which I do like, "playing in the Fed's sandbox until the bottom fell out" might work. Or even "toxic sandbox".

> It's a bit awkward since "poisonous" refers to things you eat

poisonous (adj.)

[...]

2. (figuratively) Negative, harmful.

Synonym: toxic

Re: Coinbase stock lost over 75% value

#159

Post by snowcorn »

jollybean wrote: post #103
m1117 wrote: post #63

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

We need something for you for sure, but it may not be blockchain, possibly not even crypto.

Could you elaborate further on this? I originally read your response as meaning something bad specifically based on the OP stating that they are Russian, and I am hoping that isn't actually the case.

Re: Coinbase stock lost over 75% value

#160

Post by scarface74 »

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…

This is endemic of the problem of the current tech ecosystem. Emphasizing “growth” over “profitability”. Why is it surprising that a company that has loss money over the past five quarters is seeing its stock tank?
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