So when is the listing?
Coinbase S-1
191–200 of 736 posts
Re: Coinbase S-1
#192Earlier quoted context omitted.
Yes, but that's only possible because of the underlying monetary policy, which is controlled by the Fed. In contrast, there is no way you can do this with (most) cryptocurrencies. The monetary policy of Bitcoin is dictated by the physical bounds of the proof-of-work algorithm. There is absolutely nothing that Coinbase can do to "create" more Bitcoin outside of just mining it like everyone else.
No money creation at banks is not controlled by central bank monetary policy. And it’s very easy to create new crypto assets. Bitcoin has gone from 100% to 60% of crypto market cap in the past 5 years - that’s 10% “inflation”
> No money creation at banks is not controlled by central bank monetary policy
There is in fact an upper limit set by the fractional reserve. I see US has abolished that limit right now (March 2020), but when they would set it to 100%, there would be no money multiplying at all.
Re: Coinbase S-1
#193Many have forgotten why we used cryptocurrencies in the first place. The original promise of cryptocurrency was to become independent from banks. In the end CoinBase (like every exchange) is a great product, but just a bank. It's centralized, hackable, has economies of scale, etc.
Can you explain how a currency or hard asset replaces a bank?
Re: Coinbase S-1
#194Earlier quoted context omitted.
If Satoshi is identified he might also still be alive. This means that Satoshi's BTC (~1mio.) are potentially liquid which would mean a gigantic influx of fresh bitcoins. It's quite plausible that any movement of these old wallets would crash the Bitcoin price for quite a while.
It's actually a lot worse then that: if anyone gets access to Satoshi's private wallets (i.e. via finding the keys printed out on paper in a personal effects safe or something) then those coins could move. There's no way to absolutely sure that the keys are gone and inaccessible permanently.
I'm not gonna lie. If I had 56 billion USD worth of Bitcoin, it'd be interesting to put them all up for sale, all at once, just to see what happens.
Re: Coinbase S-1
#195 Satoshi Nakamoto (page 1)
Re: Coinbase S-1
#196Many have forgotten why we used cryptocurrencies in the first place. The original promise of cryptocurrency was to become independent from banks. In the end CoinBase (like every exchange) is a great product, but just a bank. It's centralized, hackable, has economies of scale, etc.
Don’t speak for everyone there, “we” don’t all have the same reason. I like Bitcoin as a diversification for being a “better version of gold” - it has the scarcity and you can physically own it but it is much easier to store and send anywhere in the world if needed. These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial syste…
I agree, edited "We" as "Many".
Re: Coinbase S-1
#197Earlier quoted context omitted.
Coinbase is the brainchild behind cryptocurrencies? How? They were not the first, they are not the biggest, they don't have the most cryptocurrencies/platforms, they are not the fastest/cheapest/best support and so on. In fact, I can't figure out a single thing that Coinbase is the best at in the cryptocurrency industry. So what do you mean with brainchild here?
Note that GP stated they are "brainchild of cryptocurrencies". I don't think that the meaning you imply is what they had in mind.
"brainchild of distributed ledger tech and crypto currency capitalism" sure sounds like they are implying Coinbase almost invented cryptocurrencies. But English is not my native language so maybe I misunderstand it wrong.
Re: Coinbase S-1
#198Many have forgotten why we used cryptocurrencies in the first place. The original promise of cryptocurrency was to become independent from banks. In the end CoinBase (like every exchange) is a great product, but just a bank. It's centralized, hackable, has economies of scale, etc.
Don’t speak for everyone there, “we” don’t all have the same reason. I like Bitcoin as a diversification for being a “better version of gold” - it has the scarcity and you can physically own it but it is much easier to store and send anywhere in the world if needed. These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial syste…
> I like Bitcoin as a diversification for being a “better version of gold” - it has the scarcity ...
Why do we repeat the claim of Bitcoin scarcity when we all know it's just a promise and nothing more, there is no technical limitation?
All it takes to "print" more Bitcoins is for the majority of miners to agree to make a fork that will allow for more. And that will happen at one point.
As for Gold, good luck trying to mine an infinite amount of it.
Re: Coinbase S-1
#19943 million users yet the narrative is cryptocurrency is still in its 'infancy.' I wouldn't be surprised if at least 10% of all Americans have dabbled in buying crypto.
given how big the world is, _yes_, still infancy
Given what users Bitcoin and Ethereum appeal to (those that don't mine high fees), no.
Re: Coinbase S-1
#200Earlier quoted context omitted.
It's actually a lot worse then that: if anyone gets access to Satoshi's private wallets (i.e. via finding the keys printed out on paper in a personal effects safe or something) then those coins could move. There's no way to absolutely sure that the keys are gone and inaccessible permanently.
I'm a complete n00b so this is coming from a place of ignorance, why is that such a factor in the current price? Someone is sitting on $50B in a $1T market, who cares?
Because it is not actually a 1T market. If Satoshi's coins aren't on market they really aren't part of cap. Thus we are talking about 950B market... And then count out rest of "lost" coins and actual market cap start to shrink and that 50B is starting to be much bigger thing...
Yes theoretically it is 1T, but practically much lower...