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Coinbase cuts staff by a further 20%

coinbase.com

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Re: Coinbase cuts staff by a further 20%

#121

Post by college_physics »

jacquesm wrote: post #62
rsynnott wrote: post #26

Earlier quoted context omitted.

If anything the downturn will create even more nonsense, as people try to keep the money flowing in. If you think of crypto writ large as a sort of accidental self-organising distributed Ponzi scheme (which isn't unreasonable), then this is exactly what you'd expect; traditionally towards the end they get weirder and weirder, as people need money coming in by whatever means.

Precisely, it will just get weirder and more extreme until it explodes. These are all spasms of a dying organism. The addiction is so massive though that there will be some kind of backlash or a shift to something else. It's like when the authorities cracked down on money laundering through banks, for every one they killed four new ones sprang up.

It may be rational behavior though. If the insider view is that the equity is worthless it makes sense to explore every possible option, no matter how weird.

Re: Coinbase cuts staff by a further 20%

#122

Post by 4ggr0 »

Sas_cedric wrote: post #104
SunlightEdge wrote: post #46

I lost a little bit of money investing in crypto on Coinbase (I put about £500 in which shrank to £200 - over the course of past 2 years and for past year I mostly have just had money in sterling - the market looked terrible) I finally decided yesterday to cash out of coinbase yesterday - they charged me £3 to withdraw my money!! In the scheme of things I didn't lose that much money - not really. But personally I can…

[flagged]

What do you need help with?

Re: Coinbase cuts staff by a further 20%

#123

Post by MattPalmer1086 »

recuter wrote: post #55
Karsteski wrote: post #17

Earlier quoted context omitted.

This is such an odd and close minded way to discriminate against people... I guess people such as yourself always find a way to justify such things

Aren't you discriminating at people such as himself with such a statement?

How is observing someone discriminating against people in an odd way discrimination?

Re: Coinbase cuts staff by a further 20%

#124

Post by jerpint »

rkachowski wrote: post #25
irl_chad wrote: post #11

[flagged]

It works both ways - a CEO throwing out resumes with prejudice means the candidate doesn't have to suffer a prejudiced CEO, "big boy company" already says a lot about the culture you're trying to foster.

Username is irl_chad …

Re: Coinbase cuts staff by a further 20%

#125

Post by davidgerard »

SilverBirch wrote: post #87

Coinbase is a weird company, because it's got such an obvious comparable: CME Group. CME Group has about 3500 employees, did 1.2bn in revenue last quarter with 680m net income. Then you have coinbase now trimmming to about the same number 3500, 590m revenue and a net income loss of 550m. That's right, as far as I can see, Coinbase loses $1 for every $1 of revenue. Firstly, I don't see how Coinbase needs as many peopl…

> They're meant to be a disruptive start up

they have IPOed and insiders continue to exit as fast as possible

Re: Coinbase cuts staff by a further 20%

#127

Post by aliqot »

jeswin wrote: post #47
shp0ngle wrote: post #20

Earlier quoted context omitted.

I hate crypto as much as the next guy, but that's nonsense, sorry. You are filtering out possibly good people. There are still, even now in 2023, so much jobs that are crypto-related, and people still need something to eat. If you are a Rust developer, you pretty much need to do blockchain stuff, as most of the Rust jobs are related to that. And so on.

> If you are a Rust developer, you pretty much need to do blockchain stuff, as most of the Rust jobs are related to that. And so on. I'm not a Rust developer, but I must admit I'm kinda surprised by this statement. Let me do my own research.

Rust is the lingua franca of fine rug merchants.

Re: Coinbase cuts staff by a further 20%

#128

Post by Lionga »

Buttons840 wrote: post #16
senttoschool wrote: post #6

Earlier quoted context omitted.

It's a pump and dump with most of the tokens centralized in top 20 wallets. Crypto needs to die.

I agree, but 1% of society holds more wealth than the bottom 50%. To a passing observer of crypto, they see that a few have extreme amounts of wealth, just like every other currency, and think everything seems normal.

And the solution is something where 0,000001% society hold 50% of the coins/"wealth"?

The reason bitcoin will never be the main currency is, that even in case case crypto will ever be technically/UX viable as a currency (is very, very, very far from it) nobody of the 99% that do not own bitcoin now will choose bitcoin as the main currency. They will choose some most likely government started crypto where they can exchange their current money 1:1 and not buy into some stupid old thing that gives them nothing.

So if crypto ever succeeds it is the death of bitcoin as the new system that converts from the old will win by a million miles

Re: Coinbase cuts staff by a further 20%

#129

Post by Sebb767 »

rkachowski wrote: post #25
irl_chad wrote: post #11

[flagged]

It works both ways - a CEO throwing out resumes with prejudice means the candidate doesn't have to suffer a prejudiced CEO, "big boy company" already says a lot about the culture you're trying to foster.

Crypto people and big company people are not distinct groups. You can find people that worked in large and small companies that never touched crypto, but also find people who worked in large crypto. Coinbase is a great example, as with their 6k+ peak employees count they definitely were are larger company.

Re: Coinbase cuts staff by a further 20%

#130

Post by serioussecurity »

SunlightEdge wrote: post #46

I lost a little bit of money investing in crypto on Coinbase (I put about £500 in which shrank to £200 - over the course of past 2 years and for past year I mostly have just had money in sterling - the market looked terrible) I finally decided yesterday to cash out of coinbase yesterday - they charged me £3 to withdraw my money!! In the scheme of things I didn't lose that much money - not really. But personally I can…

Your surprise over a £3 fee strikes me as a perfect illustration of crypto: profoundly naive, inexperienced investors getting a hard lesson in how unregulated markets work.

I hope, some years down the line, you take the broader life lesson that anyone promising you money for nothing does not have your best interests at heart.

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