Coinbase stock lost over 75% value • Hacker News Board

Re: Coinbase stock lost over 75% value

#461

Post by runeks » Thu, May 12, 2022, 6:42 AM UTC

jjfoooo6 wrote: post #340

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…

Coinbase is in just a weird no man's land. If your bull case for crypto is replacing the US dollar as the world's dominant currency, why wouldn't some exchange in a regulation-free tax haven come to dominate, rather than a US corp?

I disagree. The purpose of a crypto exchange is to exchange crypto for national currency. This requires interaction with national banks because banks are the only entities that can hold national currency in digital form. E.g. to hold USD you need a correspondent bank in the US somewhere.

Bitfinex, which is incorporated in the Cayman Islands, is an example of your “ideal” bank. It has seen its US correspondent banks flee several times, leaving Bitfinex users unable to withdraw USD.

Coinbase is a US regulated exchange which US banks are much more willing to cooperate with since they perceive it as safer than working with some Cayman Island outfit.

Re: Coinbase stock lost over 75% value

#462

Post by NavinF » Thu, May 12, 2022, 7:46 AM UTC

jollybean wrote: post #433

NavinF wrote: post #279

Earlier quoted context omitted.

> I have no clue on earth why I am downvoted Because everyone thought you were trolling with a dog whistle: “We need something (a bomb?) for you (Russia)”.

Who on planet earth would think that? I mean, I'm cynical but I couldn't even fathom that even in retrospect.

At least 4 other people think that, judging by the upvotes

Re: Coinbase stock lost over 75% value

#463

Post by ncmncm » Thu, May 12, 2022, 7:47 AM UTC

justnotworthit wrote: post #460

danans wrote: post #341

Earlier quoted context omitted.

I think there was an implicit /s on that comment.

Good joke, but knowing that foundations in permafrost don't "depend" on it but adapt and adjust to it (either through adjustable piers, gravel pads, or floor joists floating on insulation and gravel, etc)... definitely an /s

Except apartment buildings in Siberia really are collapsing, for exactly the reason noted. We and they might wish they had foundations that didn't depend on the ground staying frozen, but that is not what is there.

Re: Coinbase stock lost over 75% value

#464

Post by vrc » Fri, May 13, 2022, 11:03 AM UTC

weatherlite wrote: post #291

Solvitieg wrote: post #157

Earlier quoted context omitted.

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

It could dilute the stock and further hurt it though no?

Probably not materially. I also assume they have a pre-allocated pool for their ESOP or equivalent.

Re: Coinbase stock lost over 75% value

#465

Post by neogodless » Wed, May 18, 2022, 4:55 PM UTC

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.

Hey @lettergram, it's 80.9% off peak! BUY BUY BUY!

Re: Coinbase stock lost over 75% value

#466

Post by kortilla » Sun, May 22, 2022, 7:35 PM UTC

onion2k wrote: post #308

kortilla wrote: post #282

Earlier quoted context omitted.

Opposing view. Cloudflare doesn’t own anything significant in the form of data centers. Having small rented footprints at IXPs across the globe is not an asset, it’s just a cost. I’m not downplaying the difficulty of getting it setup but there is no intrinsic value in having it if demand for their product collapses. > Developer sentiment towards Cloudflare is comparable to Apple fanboys of the previous decade This is…

Cloudflare doesn’t own anything significant in the form of data centers. Having small rented footprints at IXPs across the globe is not an asset, it’s just a cost. I’m not downplaying the difficulty of getting it setup but there is no intrinsic value in having it if demand for their product collapses. I don't understand this point. If there's a risk that demand will collapse isn't it better not to own the data center…

> there's a risk that demand will collapse isn't it better not to own the data centers? By renting CF can reduce their costs quickly in the face of falling demand. That's a feature.

But it’s not an asset. Do you know what an asset is?