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Coinbase stock lost over 75% value

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Re: Coinbase stock lost over 75% value

#241

Post by throwaway48375 »

eftychis wrote: post #155
outside1234 wrote: post #130

Earlier quoted context omitted.

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…

Kinda hard to do ransomware with cash.

Re: Coinbase stock lost over 75% value

#242

Post by hodgesrm »

scarface74 wrote: post #232
tmaly wrote: post #212

Earlier quoted context omitted.

But I think the pace of technology picked up. From the bust in 2001 we got the roots of web 2.0 in 2004.

Has the “pace of technology” really picked up in the last 10 years though? In 2012: - Apple and Google were the dominant mobile platforms - Microsoft was dominant on the desktop - Amazon was the dominant retailer and the dominant (but nascent cloud provider) - Google was the dominant search engine and YouTube was dominant - Facebook was the dominant social network -Microsoft has been one of the top five companies by…

Amazon. AWS was just a small cloud on the horizon in 2012. They are the dominant platform to run applications and (more surprisingly) now the #2 DBMS vendor according to recent Gartner numbers. That's a major change. [0]

https://blogs.gartner.com/merv-adrian/2022/04/16/dbms-market...

Re: Coinbase stock lost over 75% value

#243

Post by missedthecue »

scarface74 wrote: post #232
tmaly wrote: post #212

Earlier quoted context omitted.

But I think the pace of technology picked up. From the bust in 2001 we got the roots of web 2.0 in 2004.

Has the “pace of technology” really picked up in the last 10 years though? In 2012: - Apple and Google were the dominant mobile platforms - Microsoft was dominant on the desktop - Amazon was the dominant retailer and the dominant (but nascent cloud provider) - Google was the dominant search engine and YouTube was dominant - Facebook was the dominant social network -Microsoft has been one of the top five companies by…

"Have there been any new widely successful tech companies emerging since Facebook in 2009?"

Isn't Cloudflare an obvious example?

Re: Coinbase stock lost over 75% value

#244

Post by drited »

bfz wrote: post #92
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…

Worth recalling there are >5 rate hikes priced in for the remainder of the year, and that the problem with CloudFlare isn't just the speculation, but for their legitimate business, the credit fuelling many of their customers, which are significantly concentrated in the tech sector. The coming tightening of hiring will also inevitably mean the tightening of infrastructure budgets. What built CloudFlare's excellent sal…

Are you saying 18bn is way too high or way too low when you say ' lI don't think CloudFlare's fair value is anywhere remotely near $18bn?'

I know it's down a lot but I'm asking because it started from such a loft valuation I have no opinion on NET but a lot of the cloud bubble stocks of the last few years needed to come down by 95 percent IMO to get closer to intrinsic value. To do that they'd first drop 90 percent, then drop another 50 percent from that point. Hence I don't know which you meant.

Re: Coinbase stock lost over 75% value

#245

Post by chii »

daenz wrote: post #113
ike0790 wrote: post #55

i don't see why anyone would want to buy coinbase stock. it's extremely correlated to the broader crypto market with less upside. In a bull market, you could buy bitcoin or maybe be a bit more risky and buy some of the higher tier alt-coins and it would probably give you a 1.00 correlation in bull and bear cycles, but during the bull cycles the coins would skyrocket because they are tied to any major fundamental metr…

I think people bought into the idea because they were selling shovels in a gold rush.

and when the gold rush is over, the shovel seller also goes out of business. Therefore, the shovel seller ought to sell their business _before_ the gold rush is over! Or find another use for shovels - unfortunately, i don't think there's much use for shovels outside of shovelling gold.

Re: Coinbase stock lost over 75% value

#246

Post by ab-dm »

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'm not sad at all, it's just done on sale.

Re: Coinbase stock lost over 75% value

#248

Post by devoutsalsa »

ike0790 wrote: post #55

i don't see why anyone would want to buy coinbase stock. it's extremely correlated to the broader crypto market with less upside. In a bull market, you could buy bitcoin or maybe be a bit more risky and buy some of the higher tier alt-coins and it would probably give you a 1.00 correlation in bull and bear cycles, but during the bull cycles the coins would skyrocket because they are tied to any major fundamental metr…

> i don't see why anyone would want to buy coinbase stock.

Because their growth trajectory is insane. They are making a ridiculous amount of money & will be around for a long time. The real question is how MUCH should you pay for the stock? It's worth something, but I haven't tried to value it & I have no idea what it's worth. More than zero, less than infinity.

Re: Coinbase stock lost over 75% value

#249

Post by chii »

fastball wrote: post #234
ike0790 wrote: post #178

Earlier quoted context omitted.

If bitcoin/crypto is chopping sideways GUARANTEED Coinbase will be chopping sideways as well

How? Does Coinbase not make most of their money on the spread?

The implication is that when crypto goes sideways, trading volumes drop, and thus, even though spread might be same or even better, the volume drop will have lost them money.
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