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Coinbase announces proposed direct listing

blog.coinbase.com

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Re: Coinbase announces proposed direct listing

#151

Post by kgc »

kinghajj wrote: post #48
zionic wrote: post #28

Earlier quoted context omitted.

I suspect the plan is to raise tons of fiat then pump their BTC holdings via grayscale.

My god, that would be amazing. 1. Coinbase raises money from the IPO. 2. Coinbase takes some of that money and gives it to Grayscale. 3. Grayscale uses the money to buy cryptocurrency... On Coinbase! Not only do Coinbase shares appreciate from the increased value of assets on their balance sheet, but they earn some of their money back from fees, too. Just make sure that steps #1 and #2 have some delay, after any lock…

They don't need Grayscale. They could just buy BTC themselves.

Re: Coinbase announces proposed direct listing

#152

Post by drawkbox »

borland wrote: post #111

LOL Isn't the whole point of cryptocurrency to produce an alternative to the current financial system? Coinbase entering the traditional stock-market is a flat-out rejection of that; They're just another bank, except they trade in ponzi schemes rather than government-backed currency. Awful

Coinbase customers aren't just the consumers, but the investors that expected a market entry for return. They are adding more of those customers as well.

Cryptocurrency is more an alternative to banking, Coinbase is like a bank but more like a wallet collection and connector from currency to other digital currency. Some see it as securities/speculation as well including the IRS.

Part of the reason they are going into the market is big money returns but another is normalizing digital currency as part of the overall market, it also helps with marketing to new users that would never trust it previously, new channels. No doubt it will affect some of what happens as regulations come down, they are inevitable as money/market caps grow in anything.

Re: Coinbase announces proposed direct listing

#153

Post by mxd3 »

blhack wrote: post #136
mxd3 wrote: post #117

Earlier quoted context omitted.

The term "Bcash" is a social engineering attack against big blocks[0]. This attack has been so successful, the name still shows on Wikipedia[1]. [0] https://medium.com/@jonaldfyookball/why-some-people-call-bit... [1] https://en.wikipedia.org/wiki/Bitcoin_Cash

Is it? Or is trying to call it """bitcoin"" cash an attempt to confuse potential users?

Perhaps, if it wasn't a fork of Bitcoin. If was originally called Cash Coin and rebranded to Bitcoin Cash, then it would seem likely that group is trying to capitalize on the name. That's not the case here. This name came naturally, just like similar names occur in other forked software.[0]

Bitcoin Cash came from a minority group (big blocks) in the Bitcoin community.[1]

[0] https://en.wikipedia.org/wiki/LibreOffice [1] https://medium.com/hackernoon/the-great-bitcoin-scaling-deba...

Re: Coinbase announces proposed direct listing

#154

Post by JohnJamesRambo »

MuffinFlavored wrote: post #32
jaywalk wrote: post #6

Obviously this was planned well in advance, but what a day to make this announcement.

How long until Coinbase blocks the buying of popular tickers too because powerful hedge funds tell them?

Coinbase isn’t the only game in town fortunately. Arbitrage and the decentralized nature of crypto makes it impossible to stop. RobinHood just removing the buy button hopefully opened some eyes today to how rigged the traditional system is. It is free market when it benefits the powers that be. When it goes awry, they are always bailed out.

Bernie put it best today- “The business model of Wall Street is fraud.”

Anyone that wants out of this system, come over with me to where the crypto is. It has its flaws, but not like this.

Re: Coinbase announces proposed direct listing

#156

Post by wmf »

RangerScience wrote: post #41
chrisco255 wrote: post #15

Earlier quoted context omitted.

Because there's already a lot of network effects built in to the existing exchanges and crypto infrastructure for trading securities is still immature, albeit promising.

What's out their right now in the way of crypt infra for securities / stock trading? I predict that as the news digests GAMESTONKS, we're gonna see a decent amount of talk about crypto and a block-chain based stock market. But I'm far out of the crypto loop these days so IDK what the contenders are.

https://www.tzero.com/ is a major one from the former Overstock CEO.

Re: Coinbase announces proposed direct listing

#157

Post by throwaway803453 »

svachalek wrote: post #76
throwaway803453 wrote: post #68

Given the hype, the most likely scenario is a > 2X price spike in the first few minutes of trading regardless of the initial market cap ($100B+?). For those of us who believe that, what is the best strategy for purchasing shares ? It's doubtful brokers will allow market orders the previous night since the ticker might not yet exist, and if one places a market order during the first few minutes the cynic in me predict…

I think generally you can place an order before the market opens, maybe even the day before, but that doesn't really give you any pricing power. It will still pop at the open and your order may not clear until it does. But that may still put you ahead of the Robinhood masses. Better option might be to try a pre-IPO trading platform like EquityZen.

For a direct listing, does that mean Coinbase could conceivably charge any price they want for a market order given they are the only seller when it is first listed ?

Re: Coinbase announces proposed direct listing

#158

Post by dalbasal »

bluedevil2k wrote: post #112
harryh wrote: post #99

Earlier quoted context omitted.

Not with a direct listing. Coinbase shares would be subject to an auction and the market for them will open at the price where supply meets demand.

Not entirely true - since people had to enter a single point on their demand curve as a price and quantity of shares (instead of their entire demand curve) the market clearing price was artificially low. Hence the price pop on day one. To think about it more in depth - assume I enter a bid of 100 shares at $100. If the market clearing price is $50, I’ll be awarded 100 shares at $50. However, I was willing to buy far…

thanks. concise.

Re: Coinbase announces proposed direct listing

#159

Post by xiphias2 »

martin1975 wrote: post #141
xiphias2 wrote: post #135

Earlier quoted context omitted.

Traditional banks have lots restrictions _when_ you want to withdraw cash. Try moving more than $10000 between borders of countries that are not friendly with eachother, and you'll find those restrictions. You can travel with a hundred million dollars of BTC in your head (or a hardware wallet) and meet up random people if you want to buy something with it. As an example Michael Saylor could change aegentin peso to US…

Got it. You didn't clarify in your OP. The only issue w/BTC is its volatility, usability and its (in)ability to liquidate it as widely as other currencies... other than that, it's great ;)

It's right now great as a long term store of value. To get to other functions, it needs to grow up first...it's still just a teenager.

Re: Coinbase announces proposed direct listing

#160

Post by dannyw »

blhack wrote: post #136
mxd3 wrote: post #117

Earlier quoted context omitted.

The term "Bcash" is a social engineering attack against big blocks[0]. This attack has been so successful, the name still shows on Wikipedia[1]. [0] https://medium.com/@jonaldfyookball/why-some-people-call-bit... [1] https://en.wikipedia.org/wiki/Bitcoin_Cash

Is it? Or is trying to call it """bitcoin"" cash an attempt to confuse potential users?

I think calling CAD the Canadian “”dollar”” is an attempt to confuse people! /s
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